updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131In the early trading hours of the Asia market on Monday, May 15, the world’s largest cryptocurrency Bitcoin gained more than 2% with the BTC price moving past $27,400. With today’s price action, Bitcoin has broken past the crucial resistance of $27,200 and is all set for an upward journey ahead.
Popular crypto analyst Michael Van de Poppe stated that the recent price breakout sets Bitcoin up for the next rally to $36,000 and beyond. He noted:
Strong movements on #Bitcoin as it swept all the lows in recent moves and grinds back up to $27.2K. Patience, as flipping $27.2K is the first serious trigger for continuation upwards. In that case, close to a temporary bottom & potentially new highs to $36-42K still possible.
Another crypto analyst Ali Martinex explained: “The TD Sequential presented a buy signal on $BTC daily chart, anticipating a potential rebound. Notice how accurate the TD has been at forecasting local bottoms in the past two months. Still, it will depend on #BTC ability to hold above $26,360″.
On the other hand, the Bitcoin accumulation has continued during each of the recent dips. As per the latest data, the total number of Bitcoin addresses with a balance greater than 100 BTC have increased by 200 addresses just over the past four days.
Interestingly, as per the recent development, Bitcoin (BTC) has also managed to flip the US Dollar as the preferred asset in the market.
Along with Bitcoin other altcoins in the market have also gained momentum. The world’s second-largest cryptocurrency Ethereum (ETH) has gained by more than 1.5% surging past $1,800 levels and is currently trading at $1,830.
Other altcoins such as Cardano (ADA), Solana (SOL), and Polygon (MATIC) have all gained between 1.5-2%. Another altcoin that’s made the most gains is Litecoin (LTC) jumping by 7.5% in the last 24 hours amid strong address activity driven by the recently introduced LTC20 protocol.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Microsoft is currently in the crosshairs at the time as its stock price is likely to trail a downtrend following the release of previous quarter earnings.
Following the report from different users that applications from American multinational technology giant Microsoft Corporation (NASDAQ: MSFT) are down, the company has announced that it has taken a proactive step to resolve the cloud outage. The company gave the confirmation on Twitter when it said it has rolled back a network change that it believes was causing the disruption.
According to DownDetector, a platform where users can report issues about online applications that are having irregular issues, outages were reported for Microsoft Teams, Microsoft 365, Microsoft Azure, and Microsoft Store. According to data gleaned from DownDetector, the highest number of outage reports for Microsoft Teams was around 9 am today.
Those who filed the report came from different countries including the United States, the United Kingdom, Saudi Arabia, and Brazil to mention a few. According to the complaints, as many as 75% of complainants said they had issues with the Teams app, 16% were finding trouble accessing the website and 9% reported login-related issues.
“We’ve identified a potential networking issue and are reviewing telemetry to determine the next troubleshooting steps,” the company said.
We’ve rolled back a network change that we believe is causing impact. We’re monitoring the service as the rollback takes effect.
— Microsoft 365 Status (@MSFT365Status) January 25, 2023
The company said some of the users who lodged complaints about the cloud outage were already logging back in. The company did not share the exact estimate of those who might have been affected by the unprecedented cloud outage.
Microsoft develops some of the best-known and most-used software products in the world. Besides Amazon Web Services (AWS), Microsoft also controls a significant portion of the global cloud business and it counts top businesses as clients. It remains unclear how the outage impacted businesses across the board.
Microsoft is currently in the crosshairs at the time as its stock price is likely to trail a downtrend following the release of previous quarter earnings. While the company reported impressive revenue, bolstered by its Cloud business, it gave a poorer-than-expected outlook for the current quarter.
The move riled the market, and Microsoft stock is down 2.74% to $235.41 in the Pre-Market at the time of writing. Microsoft is trying its best to conserve capital and despite its high revenue, it announced the retrenchment of 11,000 of its staff in line with a broader job cut that has been rocking the tech sector.
The firm resolved its outages as swiftly as it did because it could not afford other challenges to upset its investors. While outages like what Microsoft suffered are not peculiar to the company as most of the top tech giants have faced similar challenges at some point over the past decade, the swift response showcases how ready the firm is to confront its woes and redirect its path toward productivity.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Top cryptocurrencies declined Wednesday evening as the global cryptocurrency market cap fell 2.4% to $1.1 trillion.
| Coin | 24-hour | 7-day | Price |
|---|---|---|---|
| Bitcoin BTC/USD | -2.2% | -2.7% | $23,341.93 |
| Ethereum ETH/USD | -2.3% | -1.05% | $1,834.26 |
| Dogecoin DOGE/USD | -7.5% | 12.5% | $0.08 |
| Cryptocurrency | 24-Hour % Change (+/-) | Price |
|---|---|---|
| Celsius (CEL) | +19.7% | $2.81 |
| EOS (EOS) | +7.65% | $1.48 |
| Chiliz (CHZ) | +5.8% | $0.22 |
See Also: How To Get Free Crypto
Why It Matters: Bitcoin and Ethereum were in the red at press time after minutes from the July policy meeting of the U.S. Federal Reserve indicated that the central bank would maintain its hawkish course until inflation decreases significantly.
Participants in the Federal Open Market Committee meeting judged that “moving to a restrictive stance of policy was required to meet the Committee’s legislative mandate to promote maximum employment and price stability.”
Federal Reserve officials said that while future rate decisions would be based on incoming data, there were few signs that inflation was on its way down.
“The stock market and digital assets are looking beyond the inflation story, believing that in six months time inflation will fall. It will not, unless the Ukraine war ends and the climate catastrophe leaves no scars,” said Martin Hiesboeck, head of blockchain research at Uphold, a multi-asset digital trading platform.
“With mega-droughts, factories shutting down, natural gas selling at the equivalent of $400 oil, bitcoin could still be in for a big dump by September,” Hiesboeck said in a note seen by Benzinga.
Even so, the apex coin is at an “accumulation point” over the long-term, Hiesboeck said. “The fact it hasn’t dropped significantly over the past weeks as we digested some really bad news is a turning point.”
GlobalBlock analyst Marcus Sotiriou said that technical analysis reveals that Bitcoin “ faces a critical test over the coming days.”
“The 200 weekly moving average sits just below the current price of $23,700, at around $23,000 – failing to hold this level, will suggest there is further downside to come over the following weeks and the market’s reversal may be delayed,” Sotiriou said in a note.
Cryptocurrency trader Michaël van de Poppe construed the FOMC minutes as “dovish” and said September would see a 50 basis points interest rate rise instead of a 75 bps rise. “No need to fear,” he tweeted.
Well, it seems that the FED is becoming more dovish and 50bps instead of 75bps is becoming more likely in September.
No need to fear.
— Michaël van de Poppe (@CryptoMichNL) August 17, 2022
Justin Bennett said there’s a “generational buying opportunity” for Bitcoin below the $23,319.47 mark in a tweet.
A generational buying opportunity for #Bitcoin lies below this level.$BTC pic.twitter.com/K7cg2fcDyf
— Justin Bennett (@JustinBennettFX) August 17, 2022
However, the trader warned his Twitter followers in another post that the bottom is not in for stocks and cryptocurrencies.
“The S&P 500 is mimicking the 2008 crash. Even the timing since the ATH is nearly identical,” said Bennett.
This is mind-blowing.
The S&P 500 is mimicking the 2008 crash. Even the timing since the ATH is nearly identical.
The bottom is NOT in for #stocks or #crypto.$SPY $SPX $BTC $ETH pic.twitter.com/WDdwAgDYaB
— Justin Bennett (@JustinBennettFX) August 17, 2022
Meanwhile, Ethereum merge discussions are heating up, according to market intelligence platform Santiment. Discussions surrounding Ethereum’s move to a proof-of-stake model from the current proof-of-work mechanism spiked on Aug. 11, according to Santiment.
The #ETHMerge discussions have been understandably heating up, & August 11th was when this topic really spiked after a date was announced. Throughout the past year, the relative largest spikes in this topic have marked approximate local $ETH price tops. https://t.co/zEVGGvdI7w pic.twitter.com/Q7dkWu2eAp
— Santiment (@santimentfeed) August 17, 2022
Read Next: Dogecoin Founder On Why Businesses Are Reluctant To Accept DOGE And BTC