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Popular crypto strategist and trader Michaël van de Poppe is looking at two altcoins that he says are potentially flashing reversal signals.
In a new strategy session, Van de Poppe tells his 149,000 YouTube subscribers that Litecoin could be forming a bullish higher-low setup against Bitcoin (LTC/BTC) at 0.0033 BTC or $190.38.

“Even Litecoin might be a great one at this point as we are seeking for a higher low to be taking place. And when we go back in history and we create such a higher low, it is an argument to start running.
And back in history, we also know that in the first quarter of the year, Litecoin does really well.”
Van de Poppe highlights that Litecoin tends to ignite rallies at the start of the year as seen in Q1 of 2015 and the first quarters of 2017 to 2020.
Another coin on the trader’s list is Cosmos, a project dubbed as “the internet of blockchains.” According to Van de Poppe, Cosmos may be at the end of its corrective move against Bitcoin (ATOM/BTC) as it finds support at 0.00041 BTC ($23.65).
“It has seen a beautiful move. Currently correcting heavily. We might be correcting a little bit more but after such a heavy correction, as it has been doing here, the Bitcoin pair shows a period where we could be starting to have a reversal.
And as you know, December is often a beautiful period for altcoins.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.



Featured Image: Shutterstock/A G Baxter/Vladimir Sazonov
The post Litecoin and One Under-the-Radar Altcoin Could Be Carving Out Bottoms, Says Crypto Analyst Michaël van de Poppe appeared first on The Daily Hodl.


Popular crypto strategist and trader Michaël van de Poppe is looking at two altcoins that he says are potentially flashing reversal signals. In a new strategy session, Van de Poppe tells his 149,000 YouTube subscribers that Litecoin could be forming a bullish higher-low setup against Bitcoin (LTC...

dailyhodl.com

Litecoin and One Under-the-Radar Altcoin Could Be Carving Out Bottoms, Says Crypto Analyst Michaël van de Poppe

Microstrategy has purchased 7,002 more bitcoins, growing its cryptocurrency stash to 121,044 coins. CEO Michael Saylor says, “Bitcoin is the only property you can truly own, as well as the first technology capable of granting property rights to everyone on earth.”
Microstrategy Now Has 121,044 Bitcoins in Its Treasury
The Nasdaq-listed company Microstrategy has purchased 7,002 more bitcoins. CEO Michael Saylor tweeted Monday:
Microstrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per bitcoin. As of 11/29/21 we hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin.
At the time of writing, the price of bitcoin is $57,095.58 based on data from Bitcoin.com Markets. This means Microstrategy’s bitcoins are now worth more than $6.9 billion.
Recently, Saylor discussed bitcoin becoming a $100 trillion asset class. He noted that bitcoin is winning against gold, asserting that “digital gold is going to replace gold this decade.” The bitcoin market cap is currently around $1.11 trillion.
In addition, the Microstrategy executive said he is not at all troubled by regulation that is being discussed in Washington, noting that it will affect security tokens, decentralized finance (defi) exchanges, crypto exchanges, and other use cases of cryptocurrency that are not bitcoin. In his opinion, “bitcoin is unstoppable as digital property.”

On Friday, Saylor tweeted, “Bitcoin offers better inflation protection than gold and is growing faster than big tech.” He believes that BTC “is the only property you can truly own, as well as the first technology capable of granting property rights to everyone on earth.” He emphasized, “In time, we will come to understand that it is concentrated energy in digital form and critical to the progression of our civilization.”
Commenting on reports that the Indian government may be seeking to prohibit cryptocurrencies, such as bitcoin and ether, the Microstrategy boss opined:
Bitcoin is digital property and is going to be adopted as a store of value asset in every nation that allows citizens to own private property.
In contrast, Saylor explained that “A stablecoin is digital currency for use as a medium of exchange and will be issued by chartered banks.”
What do you think about Microstrategy’s bitcoin purchase? Let us know in the comments section below.



























Microstrategy has purchased 7,002 more bitcoins, growing its cryptocurrency stash to 121,044 coins. CEO Michael Saylor says, &#x201C;Bitcoin is the only property you can truly own, as well as the first technology capable of granting property rights to everyone on earth.&#x201D; Microstrategy Now ...

news.bitcoin.com

Microstrategy Buys 7,002 More Bitcoins, Growing Crypto Stash to 121,044 BTC

  
The Lok Sabha, the lower house of India’s bicameral Parliament, will debate and deliberate the cryptocurrency bill before the upper house of Parliament reviews it, after which it will be sent to the president to be signed into law.



The Indian Winter Session of Parliament has commenced, in New Delhi. There is much on the table to discuss, not least of which is the bill to ban all private cryptocurrencies in favor of a central bank digital currency, with a few exceptions. The bill also describes the introduction of a central bank digital currency. The central bank’s digital currency will be sovereignly backed, on the same level as cash. One of its key purposes is to avoid the volatility that private cryptocurrencies are subject to.



This bill follows the meeting between critical representatives of the crypto industry and MPs in India to glean information to paint a broad picture of how cryptocurrencies are faring in India.



No KYC/AML For Unregulated Institutions



A question was posed by a Member of Parliament, in the Lok Sabha, India’s lower house of Parliament, regarding bitcoin’s future as a currency in India. The Minister of Finance Nirmala Sitharaman then established that bitcoin would not be recognized as a currency. 



Thirumaavalavan Thol, an MP, asked the Ministers whether the government knows which cryptocurrencies are traded in India, whether cryptocurrency trading is legal in India, and whether centralized exchanges are permitted by law to operate in India. The Minister of State said that the Reserve Bank of India issued a memorandum in May to regulated institutions to comply with Know-Your-Customer (KYC) and Anti-Money Laundering (AML), and Combating of Financing of Terrorism, but that cryptocurrency institutions are not regulated in India. Hence, they didn’t receive the same memorandum.



According to an Indian legal professional, following the bill’s introduction in the Lok Sabha, the bill can be sent to a standing committee that can engage with experts, who would then construct a report to be sent to the Lok Sabha. There would then be deliberations and debates by the Lok Sabha, and if the bill is approved, it would be sent to the Rajya Sabha, the upper house of Parliament. The Rajya Subha would then engage in similar deliberations. If they vote in favor of the bill, the bill would be escalated for the president to ratify, making the bill into an act. So the bill itself will undergo various processes before being signed into law. This should allay fears of an outright ban.



Indian Pundit’s Weigh In On Bill



An Indian blockchain evangelist, Sharat Chandra is uneasy about the Cryptocurrency Bill’s definition of “private cryptocurrencies.” He believes that the government should make AML and KYC rules mandatory to legitimize cryptocurrency activities, in keeping with Financial Action Task Force rules, instead of banning cryptocurrencies in the belief that they will be used for money-laundering activity. Kazim Rizvi from a privacy policy think tank called The Dialogue believes that the public nature of Ethereum and Bitcoin exclude it from the list of “private cryptocurrencies,” considering that transactions exist on a publicly visible ledger. He also believes that cryptocurrencies created by private companies have greater criminal potential, and the government’s banning thereof should be regarded as a blessing.



When the new bill was announced it triggered fears amongst Indian investors with WazirX’s bitcoin prices falling 12.2%, compared to the global 1.8%.



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  The post No Proposal to Recognize Bitcoin as Currency, Says Indian Finance Minister appeared first on BeInCrypto.


The Lok Sabha, the lower house of India's bicameral Parliament, will debate and deliberate the cryptocurrency bill before the upper house of Parliament reviews it, after which it will be sent to the president to be signed into law.
The post No Proposal to Recognize Bitcoin as Currency, Says India...

beincrypto.com

No Proposal to Recognize Bitcoin as Currency, Says Indian Finance Minister

Morgan Creek Capital Management’s Mark Yusko says that owning Bitcoin (BTC) and other crypto assets is a means to escape rampant inflation.
In a new interview with CNBC, the head of the investment management firm calls Bitcoin a “perfect” store of value asset in a world where governments are in a race to devalue their currency.

“When you think about countries like Venezuela or Zimbabwe, where the countries themselves devalue their currency 99.99%, all of your wealth is destroyed…It’s not so much that Bitcoin is getting better relative to those currencies. Those currencies are just getting worse. And the same thing is happening all around the world. There’s a global race to the bottom.
When countries become very, very indebted, like we are in the West, the only way out is to devalue the currency. You can’t pay the debt back, you can’t restructure, you can’t default on it, so you have to devalue the currency. So that’s why you need in your portfolio a base of crypto as a store of value.”
Yusko says that investors shouldn’t be fooled by the day-to-day price movements of Bitcoin, which he believes doesn’t necessarily reflect its true value. According to him, macroeconomic conditions may get “rocky” over the next few months and ownership of BTC could act as an advantage.
“The price of BTC doesn’t matter. The daily price is a liar. The value is increasing. The price is going to be volatile because humans and machines are volatile. What you want to do is continue to increase your ownership of the most powerful computing network the world has ever seen. Ownership is edge.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.



Featured Image: Shutterstock/Jorm S
The post Morgan Creek’s Mark Yusko Says Bitcoin Ownership Is an Edge Against Rampant Currency Devaluation appeared first on The Daily Hodl.


Morgan Creek Capital Management&#8217;s Mark Yusko says that owning Bitcoin (BTC) and other crypto assets is a means to escape rampant inflation. In a new interview with CNBC, the head of the investment management firm calls Bitcoin a &#8220;perfect&#8221; store of value asset in a world where go...

Morgan Creek’s Mark Yusko Says Bitcoin Ownership Is an Edge Against Rampant Currency Devaluation

  
MicroStrategy announced that it bought an additional 7,002 Bitcoin (BTC) for $414.4 million.



At this rate, each BTC was bought for an average price of $59,187, according to the announcement from CEO Michael Saylor. He added that the business intelligence firm currently holds 121,044 BTC, which it acquired for a total of  $3.57 billion, paying an average price of $29,534 each.



Previous purchases



While not buying as consistently as previously this year, MicroStrategy continues in earnest to pile onto its Bitcoin strategy when it does. Upon releasing its quarterly financial results last month, MicroStrategy revealed that it had increased its BTC holdings in Q3 2021 by 8,957. At the time, BTC’s price was approximately $61,500, so the new addition had amounted to $550.85 million.



The company also went into detail regarding its corporate strategy, which it said consisted of two parts. While the company remarked that it will continue to focus heavily on BTC as part of its corporate strategy, in addition to this, MicroStrategy is finding demand for its enterprise analytics and business intelligence services growing.



Concerning the former, MicroStrategy will focus on acquiring BTC through the use of excess cash flows, and debt and equity transactions. The company’s total revenue stood at $128 million, which is a slight increase year-over-year. Additionally, MicroStrategy will aim to provide leadership among the bitcoin community. It is already doing this to a certain degree, with Saylor particularly focused on encouraging green energy solutions for bitcoin mining.



Earlier in September, MicroStrategy had bought an additional 5,050 BTC for $242.9 million, at an average price of $48,099. An 8-K filing with the Securities and Exchange Commission (SEC) gave some further information about the purchase, including that MicroStrategy had added nearly 9,000 BTC to its corporate treasury so far in Q3 2021. During a period between July 1 and September 12, the company spent around $419.9 million in cash on BTC.



What do you think about this subject? Write to us and tell us!
  The post MicroStrategy Purchases Another 7,002 Bitcoin Totaling Over $414M appeared first on BeInCrypto.


MicroStrategy announced that it bought an additional 7,002 Bitcoin (BTC) for $414.4 million.
The post MicroStrategy Purchases Another 7,002 Bitcoin Totaling Over $414M appeared first on BeInCrypto.


Bitcoin price	$57,569.00
Low - High 24H	$56,640.00 - $58,930.00
Market cap	$1.09T
Volume 24H	$30.77B
All time high	$69,045.00 -16.61% November 10th 2021
All time low	$67.81 84814.34% July 6th 2013
Genesis date	N/A

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