STRIKE LAUNCHES NEW FEATURE TO ALLOW USERS CONVERT SALARIES TO BITCOIN

Payments processor Strike has announced the launch of a new feature that will allow users to convert their paychecks to bitcoin. This feature brings workers one step closer to collecting their paychecks in bitcoin. Instead of the employer paying out wages and salaries in BTC, employees can take the paychecks they receive and convert them to cryptocurrency in one easy step.

Receiving Paychecks In Bitcoin

Strike is enabling users to convert all or some of their paychecks into BTC. Instead of cashing into fiat and then having to change back to BTC, users can directly convert to BTC using the paycheck that they receive. The feature is known as “Pay Me in Bitcoin” was announced on Thursday and is one of Strike’s efforts to make BTC readily available to its users.

Strike is best known for helping El Salvador in their journey to bitcoin adoption, but they are also a bitcoin-focused payments processor that allows users to receive and pay in BTC. And with the new feature, get paid in BTC with no hassles.

Strike completely bypasses the need for employers to adopt and start paying their employees in cryptocurrencies. Instead giving employees the power to decide if they would rather convert their paychecks to fiat currency or cryptocurrencies. This also means that employees are not limited by the payments options their employers use. It doesn’t matter the company individuals work for, they can choose to have their paychecks deposited in bitcoin.

Following The Lead Of Coinbase

Strike’s announcement of the “Pay Me in Bitcoin” feature comes only a few weeks after Coinbase launched a similar feature. In the announcement post, Coinbase shared that customers were now able to deposit their paychecks directly to cryptocurrencies to ease their trading activities and just like Strike, streamline the process of users converting their money to cryptocurrencies.

The feature has been welcome in the crypto space as investors can now decide to deposit their full paycheck or a portion of it into their cryptocurrency tradings accounts. Customers could also choose to deposit their paychecks directly to U.S. dollars on Coinbase, which they can then use to carry out their trading activities on the platform.

Similar to Coinbase, Strike announced that the feature will initially be available to users in the United States. Roll-outs for other countries may be in the works but there has been no confirmation of these. Although users can only convert their paycheck to bitcoin on Strike, Coinbase offers users a wider variety as they can convert their paychecks to the over 100 cryptocurrencies currently listed on the exchange....

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BITCOIN NEARS OUTER SPACE AS IT CROSSES $60‚000

Almost all bitcoin holders are currently in profit for the first time since bitcoin overtook the previous long standing all time high of $20,000.

According to blockchain analytics startup Glassnode, 99.02% of all BTC supply is now in profit with that last 0.98% potentially joining soon as bitcoin nears its final resistance at $64,000.

The crypto jumped today as Shanghai woke up with it further rising currently as Los Angeles awakes.

Chinese stocks were further down slightly today as a $1.4 billion property deal with state backers fell through for Evergrande.

 Their central bank has gone out to try and assure the market the bond crisis won’t spread, but an official default may be due as soon as next Saturday.

  Chinese investors therefore are piling up on bitcoin, as a hedge or to diversify, while Americans are hyping up a potential new bitcoin fiat futures ETF that may open some new markets while raising concerns about Grayscale.

The primary price driver however is probably a change in sentiment that may intensify if bitcoin takes the final resistance at $64,000.

Afterwards, bitcoin enters thin air in outer space where there is no longer much of a price anchor and resistance or support gaps move from hundreds of dollars to thousands.

The only anchor then would be support and resistance in eth, until that too takes $4,400 in which case all can be floating without gravity pulling down.

Moreover as pretty much all would be in profit, they may be more inclined to let it ride, causing a supply shock as sell side liquidity dries up.

Previously in these sorts of situations we’d enter a no mans land during a four week period of wow. However, that’s when everyone is drunk. Currently we’re more in the first glass in a turn from sober to a bit lighter up with sensibilities still somewhat intact.

Soon it may be time to start light dance perhaps in Decentraland parties where one is expected to go on for four days.

Or we may be completely wrong but there’s a sense of excitement which itself could drive a supply crisis as bitcoin nears a new all time high....

BITCOIN BREAKS $60‚000 AHEAD OF SEC ETF APPROVALS

Bitcoin has broken a new five-month high on Friday after breaking above $60,000. The digital asset had begun its ascent weeks prior at the beginning of October, a historically bullish month for cryptocurrencies. This rally has been mostly driven by rumors that the SEC is set to approve the first Bitcoin ETF in the United States.

With news like this circulating in the market, traders have ramped up their activities in the market. The rumors have triggered massive buying activities in the market and this has led to the price rally we are currently witnessing in the market.

Bitcoin has long been expected to break this price point but has encountered multiple roadblocks that have beaten the price back down. A significant point was the $52K market which the digital asset had broken back at the beginning of September. Expectations were that the asset would ride the wave up to $60K. However, a market crash had dragged the price back down towards the $40K price range.

Buy The Rumor, Sell The News?

Investors have been buying the rumor leading up to the SEC’s ETF decision. This has contributed greatly to the current rally. Order books are filled to the brim as investors, old and new, put more money into the market.

BTC’s recent price gains have however raised questions with regards to the current market dynamics. Some have put forward that the market is responding to people buying the rumor. But that when the news of a bitcoin ETF approval arrives, investors who have been hoarding through the past couple of weeks will dump their bags as they sell the news.

Concerns have been raised over this and investors are wary of the market dynamics. Nevertheless, others have said that this is only the beginning of the rally. If the market indicators are anything to go by, then the market will likely be riding out this bull to the first quarter of 2022.

Bitcoin Price Movements

Bitcoin has now touched above $60,000 for the second time on Friday. It had previously hit the price point but dip shortly after to the high $59K. The price had subsequently recovered above $60K, peaking at $60,351

BTC is making great strides in recovery and has once again surpassed expectations for it. The market was expected to slide into a prolonged bear market but the asset has shaken off the bears. At this point, bitcoin is less than 10% away from a new all-time high.

At the time of writing, BTC is trading a little below $60K at $59,919, with a total market cap of $1.129 trillion. The crypto market cap has not been left out of this recovery as the total market cap now sits at $2.45 trillion....

ETHEREUM OUTPERFORMS BITCOIN‚ WHAT COULD EXTEND GAINS ABOVE $4000

Ethereum gained pace above the $3,700 resistance zone against the US Dollar. ETH price is showing positive signs and it could even surge above $4,000.

Ethereum started a fresh increase above the $3,650 and $3,750 resistance levels.
The price is now trading above $3,800 and the 100 hourly simple moving average.
There is a major bullish trend line forming with support near $3,800 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could extend its rally if there is a clear break above $3,850 and $3,920.

Ethereum Price Aims Larger Increase

Ethereum settled above the $3,500 level to move into a positive zone. ETH started a fresh increase above the $3,650 resistance zone and the 100 hourly simple moving average.

The upward move was such that the price cleared the $3,750 resistance. Finally, the price spiked above $3,800 and traded as high as $3,838. It is now consolidating gains above the $3,800 level. It is well above the 23.6% Fib retracement level of the recent rally from the $3,414 swing low to $3,838 high.

There is also a major bullish trend line forming with support near $3,800 on the hourly chart of ETH/USD. An immediate resistance on the upside is near the $3,840 level.

The next major resistance is near the $3,850 level, above which the price might start a fresh surge. In the stated case, the price could climb towards the $4,000 level. Any more gains could set the pace for a move towards the $4,200 level in the near term.

Dips Supported in ETH?

If ethereum fails to continue higher above the $3,850 and $3,920 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $3,800 level.

The first key support is now forming near the $3,750 level. The main support is now forming near the $3,650 and $3,625 levels. It is near the 50% Fib retracement level of the recent rally from the $3,414 swing low to $3,838 high. If there is a downside break below the $3,650 and $3,625 support levels, the price could decline further. The next key support is near $3,550.

Technical Indicators:

Hourly MACD – The MACD for ETH/USD is gaining pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 60 level.
Major Support Level – $3,750
Major Resistance Level – $3,850...

BITCOIN KEY INDICATORS SUGGEST UPSIDE CONTINUATION TO $62‚000

Bitcoin is showing positive signs above the $57,000 level against the US Dollar. BTC could gain pace and it might even test the $60,000 resistance zone.

Bitcoin started a fresh increase and it broke the $58,500 level.
The price is now trading above $58,000 and the 100 hourly simple moving average.
There was a break above a key declining channel with resistance near $58,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could continue higher towards the $60,000 level in the near term.

Bitcoin Price Remains In Uptrend

Bitcoin price corrected a few points below the $58,000 level. However, downsides were limited below $57,000 and BTC started a fresh increase.

The price traded as low as $56,888 and started a fresh increase. It surpassed the $57,500 and $58,000 resistance levels. There was a break above a key declining channel with resistance near $58,000 on the hourly chart of the BTC/USD pair.

The pair is now trading above $58,000 and the 100 hourly simple moving average. It is now trading near the $59,000 zone. Besides, the price is testing the 1.236 Fib extension level of the downside correction from the $58,580 swing high to $56,888 low.

On the upside, an initial resistance is near the $59,500 level. The first key resistance is near the $59,650 level. It is near the 1.618 Fib extension level of the downside correction from the $58,580 swing high to $56,888 low.

A clear break above the $59,650 resistance could open the doors for more upsides. The next major resistance sits near the $60,000 level, above which the price might surge towards the $62,000 level in the near term.

Dips Limited In BTC?

If bitcoin fails to clear the $59,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $58,200 level.

The first major support is now forming near the $58,000 level (the recent breakout zone). A downside break below the $58,000 level could spark a larger decline. The next major support is now near the $56,800 level and the 100 hourly SMA.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 60 level.
Major Support Levels – $58,200, followed by $58,000.
Major Resistance Levels – $59,650, $60,000 and $62,000....