Buyers of Bitcoin (BTC) held support at $40,000 as oversold signals showed on the charts. The current rebound indicates that the cryptocurrency is beginning to recover following a near-30% drop from its all-time high of over $69,000 in November.

The four-hour chart’s relative strength index (RSI) is reaching overbought levels, similar to what happened in late December, which preceded a temporary drop. The RSI on the daily chart, on the other hand, continues to increase from oversold levels, suggesting that buyers may be active on price declines.

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Nonetheless, given the short-term downturn, the upside looks to be restricted to the $45,000-$48,000 resistance zone. Furthermore, momentum indications on weekly and monthly charts remain negative, suggesting that price increases may be limited for the time being.

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Bitcoin fear and greed index on Friday, January 14, 2022, went from the extreme fear level of 22 to the level of 21 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.

Bitcoin is currently trading around $42,814.66, down 2.00%. In the last 24 hours, the highest it touched was $44,278.42 and the lowest was $42,447.04. Bitcoin has a current market cap of $811,820,401,683. It has a circulating supply of 18,928,706.00 BTC coins and a maximum supply of 21,000,000 coins.

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Dogecoin surges over 15% as payments go live on Tesla store

Elon Musk, chief of Tesla Inc, has said that his company will accept dogecoin as payment for merchandise on a test basis, sending the meme-based cryptocurrency up over 15%. “Tesla will make some merch buyable with Doge & see how it goes,” Musk said in a tweet. The shares of the company were down 3 per cent in early trading, amid broader market declines. According to a report in Reuters, Dogecoin, popular among retail investors, raced up to $0.20 after the tweet.

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Block to build open-source bitcoin mining system

Block, formerly known as payments company Square, is going ahead with its plan to build an open-source bitcoin mining system, according to a Tweet from Thomas Templeton, Block’s general manager for hardware. “We want to make mining more distributed and efficient in every way, from buying, to set up, to maintenance, to mining,” Templeton tweeted. He also tweeted the company is open to making new ASICs (specialized bitcoin mining computers) and has started evaluating various IP blocks, open-source miner firmware, and other system software offerings. Block has started hiring to build out a core engineering team.

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North Korean hackers stole crypto worth $400M in 2021

North Korean crypto hackers siphoned off nearly $400 million in crypto through cyberattacks in 2021 according to new data from Chainalysis. The type of crypto stolen has also seen a sea change according to the Jan. 13 report from the blockchain analytics firm. In 2017, BTC accounted for nearly all the crypto stolen by the DPRK, but it now accounts for just one fifth. The report stated that attacks in 2021 from North Korea (DPRK) primarily targeted “investment firms and centralized exchanges, and made use of phishing lures, code exploits, malware, and advanced social engineering” to maliciously acquire the funds. In 2021, only 20% of the stolen funds were Bitcoin, whereas 22% were either ERC-20 tokens or altcoins. And for the first time ever, Ether accounted for a majority of the funds stolen at 58%, the report said. Stolen cryptocurrency is believed to be used by the DPRK to evade economic sanctions and to help fund nuclear weapons and ballistic missile programs, according to a UN Security Council report.