Bitcoin: Uptrend may continue to the 50K area.

The current uptrend is too strong. According to search queries, the crowd of small investors has not yet joined the trend. Therefore, the growth of bitcoin may continue for several more months after reaching technical targets in the region of 36K and 40K. In the area of ​​36K, there may be an intermediate profit taking.

You can build up long positions by 30% retracement with a stop below 50% retracement or below the local support level:

The end of a strong uptrend can be seen by a decrease in the growth rate over several weeks.

Komentar:

Important news: www.theblockcrypto.c...stablecoins-issuance

US regulator: Federally chartered banks can facilitate stablecoin payments, issue their own.

National banks and federal savings associations can use public blockchains and stablecoins for settlement, The Office of the Comptroller of the Currency (OCC) said in an interpretive letter published late Monday.

The letter indicates that banks and savings associations can now run crypto nodes and utilize associated stablecoins for "permissible payment activities." This means banks can use public blockchains to validate, store, record and settle payment transactions as long as they're compliant with existing laws.

It also specifically mentions the use of stablecoins for transactions, saying blockchain networks can mitigate costs for cross-border transactions as a "cheaper, faster, and more efficient" means of payment. For that reason, it's empowering banks to utilize blockchains and their stablecoins for converting to and from fiat during remittances — and even issue stablecoins if they so choose.

The regulator noted:

"Likewise, a bank may use stablecoins to facilitate payment transactions for customers on an independent node verification network, including by issuing a stablecoin, and by exchanging that stablecoin for fiat currency."

As the letter notes elsewhere:

"Just as banks may buy and sell ESV as a means of converting the ESV into dollars (and vice versa) to complete customer payment transactions, banks may buy, sell, and issue stablecoin to facilitate payments. For example, one entity (payer) may wish to remit a payment of U.S. dollars to a second entity (payee). Rather than using a centralized payment system, the payer converts the U.S. dollars to stablecoin and transfers the stablecoin to the payee via the INVN. The payee then converts the stablecoin back into U.S. dollars. In one common version of this fact pattern, the payment is a cross-border remittance."

Acting Comptroller of the Currency and former Coinbase head of legal Brian Brooks said the letter is in response to a recent statement on stablecoins issued by the President's Working Group on Financial Markets. That report said regulators may consider limitations on "multi-currency stablecoins" and highlighted possible risks of one-to-one tokens.

"Our letter removes any legal uncertainty about the authority of banks to connect to blockchains as validator nodes and thereby transact stablecoin payments on behalf of customers who are increasingly demanding the speed, efficiency, interoperability, and low cost associated with these products,” said Brooks in a statement.

Last fall, the OCC said that federally chartered banks can hold reserve funds for fiat-backed stablecoin issuers, as previously reported.

Komentar:

While dumping to the area of 30% of the uptrend. When approaching local support, 28540 bought back up at $6055 to the area of 36690. A fairly good buy. Now we took a break. Will they be able to pump 50% to the region or continue the pump, we'll see. It is too early to draw conclusions.

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So it will be more accurate.