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.

Bitcoin fear and greed index on Thursday, January 13, 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.

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Bitcoin is currently trading around $43,689.25, up 2.50%. In the last 24 hours, the highest it touched was $44,135.37 and the lowest was $42,541.92. Bitcoin has a current market cap of $828,318,110,419. It has a circulating supply of 18,927,612.00 BTC coins and a maximum supply of 21,000,000 coins.

Visa collaborates with ConsenSys to bridge the gap between CBDCs and traditional finance

Payments giant Visa has teamed up with Ethereum scaling firm ConsenSys to help central bank digital currency (CBDC) networks bridge the gap with traditional financial institutions. Customers will eventually be able to use their CBDC-linked Visa card or digital wallet anywhere that Visa is accepted globally, Catherine Gu, Visa’s head of CBDC, said in a blog post-Q&A with ConsenSys. “If successful, CBDC could expand access to financial services and make government disbursements more efficient, targeted and secure – that’s an attractive proposition for policy makers,” Gu said. Visa’s CBDC Payments Module was created as an on-ramp for CBDCs to existing payment networks, according to Gu. Banks and issuer processors will be able to plug into the module and integrate their existing infrastructure, she added.

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Wikipedia editors vote against classifying NFTs as art

A group of editors on Wikipedia, the free user-generated encyclopedia, have voted against classifying NFTs as a form of art and have come to a consensus to shelve the issue until a later date. A survey and debate started on the platform at the end of December revolving around the most expensive art sales by living artists and whether NFT art sales should be deemed as “art sales” or “NFT sales.” “Wikipedia really can’t be in the business of deciding what counts as art or not, which is why putting NFTs, art or not, in their own list makes things a lot simpler,” editor “jonas” wrote. Much of the discussion centred on whether an NFT represented the art or if it was simply a token that was separate from the underlying art. The editors were torn on the definitions and some felt that there was a lack of reliable information to conclude from. A call for votes found five editors opposed to including NFTs in art sales and just one in support. A consensus was made on Jan. 12 to remove sales such as Pak’s NFT collection that fetched $91 million and Beeple’s $69 million NFT from the top art sales list, and re-open the discussion at a later date.

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Coinbase acquires FairX in order to launch cryptocurrency derivatives

Crypto exchange Coinbase is purchasing FairX, a U.S.-based derivatives platform. The move could open the door for Coinbase to offer crypto derivatives products in the U.S. At present, only a handful of exchanges allow U.S. investors to trade bitcoin and ether futures, with cash-settled products being both the most popular and the longest-available products. FTX.US acquired LedgerX last August with a similar aim. Crypto.com, which recently launched an ad campaign starring Matt Damon that airs in movie theatres and football games, also acquired retail derivatives platform Nadex late last year. FairX is a designated contract market (DCM) registered with the Commodity Futures Trading Commission (CFTC), meaning it is allowed to offer futures products in the U.S.