The Bank for International Settlements (BIS), a global financial institution owned by some of the world’s biggest central banks, is trying to dispel the theory that cryptocurrency ownership is linked to distrust in traditional finance. On Thursday, the BIS published a paper on the socioeconomic drivers of cryptocurrency investments in the United States. Employing representative data from the U.S. Survey of Consumer Payment Choice, BIS argued distrust in fiat currencies such as the U.S. dollar has nothing to do with investor motivation to hold cryptocurrencies like Bitcoin (BTC), stating: “Demand for cryptocurrencies is not driven by distrust in cash or …

Trading should just be a simple process of buying low and selling high but for many investors the process is more akin to rocket science. One of the most basic and easy-to-understand strategies that can help accomplish this is to identify an asset’s support and resistance levels. Once traders can spot the support and resistance levels, they can improve their entry and exit timing in the market. Support and resistances are also helpful during bullish, bearish and range-bound markets. Let’s take a moment to understand the basics. What are supports? Support is formed at a level where the demand from …

A private secondary school based near the Nigerian city of Kano has announced it will be accepting payments for school fees in cryptocurrency amid the country’s central bank banning financial institutions providing services to crypto exchanges. According to a Thursday report from local news outlet Kano Focus, the director of the New Oxford Science Academy in the Kano suburb of Chiranchi will allow students to pay for tuition fees in crypto. Sabi’u Musa Haruna, who started working at the school in 2017, urged the Nigerian government to embrace and regulate cryptocurrency, but seemed to imply he would not wait with …

Tesla CEO and Dogecoin (DOGE) enthusiast Elon Musk may be speaking at an event aimed at educating institutional investors on Bitcoin (BTC). In a Twitter discussion with Jack Dorsey, Musk agreed to speak at “The ₿ Word,” a July 21 virtual event hosted by the Crypto Council for Innovation and featuring major players in the crypto space. “As more companies and institutions get into the mix, we all want to help protect and spread what makes #bitcoin open development so perfect,” said Dorsey. “This day is focused on education and actions to do just that.” Musk responded to Dorsey with …

The skills shortage among crypto’s specialized workforce is causing significant competition among businesses to secure the right talent for their organizations. According to Bloomberg, crypto firms are finding it somewhat difficult to find the right candidates to fill job openings as these firms look to expand their operations across the globe. The competition for skilled and experienced candidates is not alone among crypto-natives but also with legacy financial institutions that are establishing cryptocurrency-focused departments. Even the broader fintech and technology services industry are also entering crypto, contributing to even greater competition for the limited workforce available. Back in May, tech …

As nonfungible token (NFT) art continues to develop as an industry, a new trend is quickly emerging: physical NFT galleries featuring digital, nonfungible pieces of unique artwork. Most recently, the largest Bitcoin (BTC) event in history — the Bitcoin 2021 conference — featured a peer-to-peer pop-up NFT art gallery with artwork from over 30 different crypto artists. Teodora Atanasova, VIP relations manager and founding team member of Nexo — the company that backed the Bitcoin Art Gallery — told Cointelegraph that over 100 pieces of art were sold during the two-day conference: "This demonstrates the impact physical NFT galleries can …

The most important aspect in trading is to correctly identify the long-term trend. Once this is done, the rest of the steps are not very difficult because all a trader needs to do is look for buying opportunities in an uptrend and selling opportunities in a downtrend. In reality, many traders complicate the process by waiting for lower levels to buy in a bull market and missing a large portion of the rally. Then, when the trend reverses and the price starts falling, the same traders start buying, which usually results in losses. To avoid this pitfall, traders can incorporate …

Bitcoin’s (BTC) succession of sharp corrections from its all-time high at $64,900 has turned investor sentiment negative, at least for the short-term. While some analysts believe the bottom may have been hit, others are warning of a further fall due to the “Death Cross” pattern that, at the time of writing, is on the verge of completion. For new traders, the name death cross itself brings a lot of negativity and a feeling of impending doom. This sentiment can trigger selling panics, especially if the market has already been going through a bear phase prior to the pattern being spotted. …

The Moving Average Convergence Divergence, also called the MACD, is a trend-following momentum indicator used widely by traders. Although the MACD is a lagging indicator, it can be very useful in identifying possible trend changes. The MACD oscillates above and below a zero line, also known as the centerline. The shorter moving average is subtracted from a longer moving average to arrive at the value of the MACD. A signal line, which is the exponential moving average of the MACD completes the indicator. The blue line is the MACD and the red line is the signal line. When the blue …

A trade is profitable only if both the purchase and the sale are done at the right time. Many times, traders sell their positions too early and leave profits on the table or they keep holding on to the trade even after the trend changes. This leads to profits evaporating, and many times the trade turns into a loss. While it is important to trade with the trend, it is also important to keep an eye out for signs of a reversal. If traders learn to spot these warning signs, they can avoid buying at the tops and selling at …

It shouldn’t come as a surprise that the need for candidates specializing in cryptocurrency and blockchain has become more apparent than ever before. This could be attributed to the fact that major companies are announcing job positions for candidates who are knowledgeable in alternative payments and emerging technologies. For example, global software giant Apple has recently announced plans to recruit a new business development manager with alternative payment experience. Other leading companies, such as PayPal, Venmo and Tesla, have also been seeking out talent with blockchain and cryptocurrency expertise. Colleges ramp up blockchain and crypto courses Several colleges and universities …

Crypto traders are drawn to the market by its bombastic growth and lucrative opportunities to make a profit. However, not every investor is seeking volatility or using degenerate leverage levels to gamble at derivatives exchanges. In fact, stablecoins usually comprise half of the total value locked (TVL) on most decentralized finance (DeFi) applications that focus on yields. There's a reason why DeFi boomed despite Ethereum network median fees surpassing $10 in May. Institutional investors are desperately seeking fixed income returns as traditional finance seldomly offers yields above 5%. However, it is possible to earn up to 4% per month using …