Crypto Morning News - May 19th, 2021
BTC dropped through $39,200
BTC fell sharply today and dropped to a minimum of $38600. This is the first time that BTC has fallen below the 200-day moving average since the $3800 rise on March 13, 2020. Currently, BTC is still oscillating near this support, and is now reported at $39,253.73, with a 24-hour drop of 12.7%. The market fluctuates greatly. Please control your risks.
Chess.com and Coinbase will cooperate to host a cryptocurrency-themed chess charity competition
Chess website Chess.com announced that it will host a cryptocurrency-themed chess competition Cryptochamps. It is reported that the event is sponsored by Coinbase and started on June 12. Morgan Creek Digital co-founder Anthony Pompliano, Of Optimism founder Jing Wang, Paradigm co-founder Matt Huang, Coinshares CSO Meltem Demirors, Civic CEO Vinny Lingham and cryptocurrency broadcaster Peter McCormack will participate in the competition. The prize money for this competition is 25,000 US dollars, and all will be donated to charity.
learn more
Instagram may launch an NFT platform, and is signing related agreements with artists
Encrypted artist Sean Williams tweeted that Instagram may launch an NFT platform and is currently communicating with artists to sign related agreements. Sean Williams said that he received an official email from the social platform Instagram, and Instagram expressed the hope that he and some emerging crypto artists would help to establish Instagram’s NFT platform.
Instagram will give each artist a $1,000 "remuneration" for helping artists, but at the same time artists are required to sign a one-way non-disclosure agreement, prohibiting to the outside world their efforts to help Instagram behind the scenes. After Sean Williams declined the invitation of Instagram, Instagram withdrew the email, but Sean Williams has saved the screenshot. The news caused widespread discussion on Twitter, and some artists and NFT community members have accused Instagram of disrespect for artists.
Ark Investment Management’s quarterly investment report: holds 639,000 gray-scale ETH trusts and 8.68 million gray-scale BTC trusts
According to the quarterly report file submitted by Ark Investment Management to the US Securities and Exchange Commission, as of March 31, 2021, Ark Investment holds 639,069 shares of Grayscale Ethereum Trust (ETHE), currently valued at approximately $22.11 million, and holds 8,675,881 shares of gray. Degree Bitcoin Trust (GBTC), currently worth nearly $360 million.
learn more
UBS Wealth Management, Pimco and other companies are cautious about cryptocurrency investment
According to Bitcoin.com, some asset management companies have begun to warn against investing in cryptocurrencies, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management. Among them, UBS said, "We expect more stringent policy and regulatory controls ahead for crypto as it becomes more mainstream." Nicholas Johnson, portfolio manager of Pacific Investment Management Corporation, questioned the use of Bitcoin to hedge against inflation. In addition, Rob Sharps, President and Head of Investment at T. Rowe Price, stated, “Crypto has an impact across capital markets, and we're capital markets experts. Ultimately, the mandates we manage for clients are not well suited for investing in cryptocurrencies, and we recognize the high level of speculation in this space."
learn more
Inventor of Bollinger Bands: 43,000 is what we call a logical level for $BTCUSD
Inventor of Bollinger Bands John Bollinger tweeted on 18 May: 43,000 is what we call a logical level for $BTCUSD. It is defined by the January peak and the March trough. Price action at logical levels can tell the smart trader/analyst who is paying attention a lot.
Galaxy Digital CEO believes that Bitcoin will bottom out around $40,000
According to U.today reports, Mike Novogratz, CEO of Galaxy Digital, said in an interview with CNBC’s “Squawk Box” program recently that he said I think $40,000 should hold ... we'll consolidate then we'll have another leg up. Novogratz claims that he sees more institutions moving into Bitcoin, adding that he’s no longer “the lone Wall Street guy” who’s screaming about it. As reported by U.Today, Novogratz revealed that he had roughly 85 percent of his entire net worth in crypto.
learn more
Forbes columnist: Crypto Integration Is Key To The Dollar Remaining The Global Reserve Currency
Forbes columnist Sean Stein Smith published an article that integrating all aspects of blockchain and cryptocurrency functions can help maintain the value and position of the U.S. dollar in an increasingly competitive currency environment.
source
The founder of Morgan Creek announced the launch of Bitcoin Pizza, a national chain pizza brand
Morgan Creek founder Anthony Pompliano tweeted that a new national chain pizza brand called "Bitcoin Pizza" will be launched. It is reported that the pilot project will be launched in ten cities in the United States this weekend. These include Los Angeles, Seattle, Chicago, Austin, New York, San Francisco, etc.
PeckShield warning: BinanceGoat is at high risk
PeckShield warned that the BinanceGoat project on the BSC chain has high risks. Users are requested to invest in their token RCZgoat carefully and do not interact with any smart contracts of the project. The RCZgoat contract address is: 0x580ed41be3ad4097BcfB495136Aa48b4322DAF2C
Energy company CEO: Bitcoin is more environmentally friendly than oil and US dollars
According to Decrypt, Alex Gladstein, Chief Strategy Officer of the Human Rights Foundation, and James McGinniss, CEO and co-founder of David Energy, an energy company, stated that Bitcoin is more environmentally friendly than petrodollars because the latter is fundamentally a gain from the U.S. military. support. It is estimated that the US military consumes more energy than many countries in the world.
MARKET DATA - TOP 10 [ from CoinMarketCap ]
THANKS ALL