top of page

Out of the Woods?

Updated: Sep 29, 2022

GB Market Commentary 01/10/2021

by Will Morris


Bitcoin has broken out of the descending wedge that has formed over the past few weeks, usually regarded as a bear signal. However, a breakout to the upside could flip this to a bull sign, the technical target of the falling wedge, the top of the wedge, would be $53k. However, trading volume remains very low, if this persists it could break back to the downside. $48.8k has been highlighted by traders as a very key resistance level for Bitcoin, if it can keep above this level outlook could be positive for the weekend. At the time of writing Bitcoin has bounced off $45k and is currently trading just below.


The global crypto market is once again pushing $2trn, VeChain, Qtum and OMG are the top 3 performers on CoinmarketCap – all up over 15%.


NFT Virtual Land Platform prices have grown 42,000% in one month. Next Earth claims to be the only blockchain based virtual land ownership platform based on the exact copy of the earth. The website claims that “Metaverse and virtual land ownership are super hot!”. NextEarth are selling one-hundred square meter plots of land called tile’s as digital real estate on the blockchain. The Arc de Triomphe was originally purchased for 100 BUSD and re-sold for around 3,400 BUSD on the first day after launch. The term Metaverse refers to virtual existence that exists independent of the real world.


Visa has published a whitepaper titled “Universal Payment Channels” which discusses CBDC and stabelcoin interoperability. Visa proposed a hub-and-spoke payment route, which would function similarly to existing interoperability solutions. Visa outlines multiple use cases for the UPC, including cross-border payments for CBDCs and a marketplace for digital currencies.


El Salvador has started mining Bitcoin using Geothermal energy from volcanos. This follows a growing trend across the Bitcoin ecosystem as well as other crypto projects to switch to renewable energy – driven by ethical, societal and economic good – over 56% of Bitcoin is estimated to be mined using green energy. Adverse to recent rhetoric Bitcoin and the crypto ecosystem has the potential to drive the green revolution forward and is currently doing so.

Commentaires


GB_CC_May_Digital Asset Trading_Whiteout
  • LinkedIn
  • Twitter
  • Facebook
  • Instagram
  • YouTube
  • telegram logo

GlobalBlock EU ApS is a company incorporated and registered in accordance with the applicable laws of the Kingdom of Denmark as virtual asset service provider, with registration number (CVR-number) 45126382. GlobalBlock EU ApS is wholly owned by GlobalBlock Holdings., a company registered in England and Wales with registration number 15929099 . GlobalBlock EU ApS is not a licensed financial services provider and is not supervised as such by the Danish Financial Supervisory Authority. GlobalBlock EU ApS is supervised with respect to anti money laundering by the Danish Financial Supervisory Authority within the scope of the Danish Act on Prevention of Money Laundering and Terrorist Financing and other legislation stemming thereof.

.
GlobalBlock Europe, UAB is a company incorporated and registered in accordance with the applicable laws of the Republic of Lithuania as a virtual currency depository wallet operator and virtual currency exchange operator, with registration number 306045642. GlobalBlock Europe, UAB is wholly owned by GlobalBlock Holdings Ltd., a company registered in England and Wales with registration number 15929099,  GlobalBlock Europe, UAB is not a licensed financial services provider and is not supervised by the Bank of Lithuania. GlobalBlock Europe, UAB is supervised by the Financial Crime Investigation Service under the Ministry of Interior of the Republic of Lithuania within the scope of the Law on Prevention of Money Laundering and Terrorist Financing of the Republic of Lithuania and other legislation stemming thereof.
 
Investors should be aware that cryptocurrencies are volatile investment instruments that carry a high degree of risk to the capital investment. The information in this website is not intended and should not be construed as an offer, solicitation or recommendation to buy or sell any specific investments or participate in any specific investment (or other) strategy. The products and services outlined on this website may not be suitable for all types of investors. The value of an investment can go down as well as up, and you may not get back the amount you originally invested. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, investment objectives, and seek independent financial advice if necessary. It is your responsibility to ascertain whether you are permitted to use the services of GlobalBlock Europe, UAB based on the legal requirements in your country of residence. The information in this website is for information purposes only and is subject to change. No part of this website can be reproduced without written permission.


 Client fiat is held with GlobalBlock in accounts with BCB Limited,and does not meet the definition of Electronic Money (e-money). Client fiat and cryptocurrency are not “safeguarded” nor covered by any compensation scheme. Clients could potentially lose their cryptocurrency or fiat if something were to happen to GlobalBlock or, BCB.

Cryptoasset Notice

Cryptoasset services are provided by GlobalBlock Europe, UAB (“GlobalBlock”).   Cryptoassets are not regulated in any jurisdiction and the value of your assets can increase or decrease. You should note that your cryptoasset profits may be subject to Capital Gains Tax.

The service you obtain through the website or the app in the UK, contains cryptoasrvices not regulated by the Financial Conduct Authority. Please be aware that:

  • You will have no recourse to the Financial Ombudsman Service in the event of a complaint relating to cryptoasset services.

  • Your cryptoasset account is not protected by the Financial Services Compensation Scheme.

  • Cryptoassets may experience frequent price volatility resulting in a high degree of risk.

bottom of page