A new annual Independent Reserve Cryptocurrency Index (IRCI) survey was conducted in Singapore, polling around 1,500 local residents on their stance in regard to cryptocurrency assets. The survey was conducted in February 2023; the results were published yesterday, March 28th.

One of the most interesting findings is that Singaporean women are slightly more likely to make money from cryptocurrency investment or at the very least, break even than their male counterparts.

The survey, conducted by the crypto exchange Independent Reserve, noted that 76% of women reported either profiting or breaking even. Their male counterparts had similar success, but the survey shows that women have slightly outperformed them, with 72% of men reporting the same success.

The survey remarked that “Since the launch of IRCI in Singapore in 2021, this is the first time that females have reported outperforming their male counterparts.”

Apart from reporting their higher success at making money from crypto, the survey has also found an increase in the number of women that are willing to participate in crypto investments this year. According to results, 37% of women surveyed have admitted to having crypto investments. The figure represents a 7 percentage point increase in comparison to last year’s findings.

However, out of all the questioned men, 48% said that they are participating in crypto trading, which is actually a 1% drop compared to last year.

Adoption is still on the rise, and crypto investors plan to diversify their portfolios

A significant number of female participants revealed that they are bullish toward cryptocurrency, where 24% even admitted t allocating over 20% of their investment portfolios to digital assets. When questioned about their plans involving cryptocurrency in the next 12 months, as many as 48% have stated that they plan to make additional investments in their existing portfolio. Meanwhile, 43% noted that they wish to diversify and invest in other coins and tokens, NFTs, as well as DeFi protocols.

The survey noted that the overall confidence level in cryptocurrency — which ranges from 0 to 100 — had scored 55. This is actually a 6-point decrease from last year when the figure was 61. However, this development was attributed to a number of negative events seen in 2022. Given the collapse of the Terra/LUNA project, the collapse of FTX, and the fact that a number of other major crypto firms filed for bankruptcy, the investors’ confidence has been shaken, which is understandable.

#crypto2023 #buildtogether #BTC #Fed

Bitcoin price started a downside correction from the $28,500 resistance zone. BTC found support near $26,600 and is currently attempting a fresh increase.

Bitcoin is moving higher above the $27,000 resistance.

The price is trading below $27,800 and the 100 hourly simple moving average.

There was a break below a key bullish trend line with support near $27,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could rally again if there is a clear move above the $28,000 resistance zone.

Bitcoin Price Eyes Fresh Increase

Bitcoin price failed to clear the $28,500 resistance zone and reacted to the downside. The fed increased rates from 4.75% to 5%, which resulted in a bearish reaction. BTC declined below the $27,500 support zone.

Besides, there was a break below a key bullish trend line with support near $27,900 on the hourly chart of the BTC/USD pair. The pair even traded below the $27,000 level. A low is formed near $26,623 and the price is now correcting losses.

Bitcoin price climbed above the 23.6% Fib retracement level of the downward move from the $28,879 swing high to $26,623 low. It is still trading below $27,800 and the 100 hourly simple moving average.

On the upside, an immediate resistance is near the $27,750 level and trading below $27,800 and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the downward move from the $28,879 swing high to $26,623 low.

The next major resistance is near the $28,000 zone. A close above the $28,000 resistance might start another major increase. In the stated case, the price could rise towards the $28,500 level. Any more gains might send the price towards the $28,850 resistance zone.

Dips Supported in BTC?

If bitcoin price fails to clear the $28,000 resistance, it could start anther decline. An immediate support on the downside is near the $27,000 zone.

The next major support is near the $26,600 zone. Any more losses might send the price towards the $26,000 support zone. The next major support is near the $25,200 level.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $27,000, followed by $26,600.

Major Resistance Levels – $27,750, $28,000 and $28,500.

#BTC #BullRun #koinmilyoner #Fed #bitcoin

Hey everyone, it’s Firoz and I’m here to break down the massive announcement by the #Fed and US policymakers that just happened today.

You know I’m all about giving you the real value and cutting through the noise, so let me tell you what this means for you and your business.

The Fed just stepped in and rescued two major banks, #SVB and #SignatureBank , from going bankrupt. These banks were in trouble because they had a lot of bad loans and deposits that they couldn’t pay back.

The Fed did two things:

They made sure that all the depositors of these banks got their money back. That means if you had an account with SVB or Signature Bank, you don’t have to worry about losing your cash. You can access it starting Monday, March 13.

They created a new facility called Bank Funding Term Program (BFTP) to provide liquidity to banks under stress. That means if other banks face similar problems in the future, they can borrow money from the Fed by posting their bonds as collateral.

This is huge, because it prevents a domino effect of bank failures that could have crashed the whole financial system. #buildtogether

But here’s the catch:

The shareholders and certain unsecured debtholders of these banks will not be protected. That means if you invested in these banks’ stocks or bonds, you’re out of luck. You just lost your money. Sorry equity investors, do your homework.

The bonds that the banks post as collateral will be valued at par. That means the Fed will ignore the market value of these bonds, which could be much lower than their face value. This is a sweet deal for the banks, because they can get rid of their junk bonds and get cash in return.

The funding that the banks get from the Fed will be at 1-year OIS plus 10 bps spread on top. That means the banks will pay a very low interest rate to borrow money from the Fed, based on the market expectation of the Fed Funds rate plus a small premium. This is also a great deal for the banks, because they can get cheap funding for a long time.

So what does this mean for you?

Well, it depends on how you look at it.

On one hand, this is good news for the economy and the stability of the banking system. It shows that the Fed is willing and able to act swiftly and decisively to prevent a financial crisis. It also shows that the Fed is supportive of innovation and entrepreneurship, because SVB and Signature Bank are known for serving tech startups and crypto companies.

On the other hand, this is bad news for the moral hazard and the fairness of the market. It shows that the Fed is bailing out some banks that made bad decisions and took excessive risks. It also shows that the Fed is favoring some banks over others, by giving them preferential treatment and access to cheap funding.

So how do you feel about this?

Are you happy that your money is safe and that the economy is stable?

Or are you angry that some banks got away with their mistakes and that the market is rigged?

Let me know in the comments below.

And remember, this is not financial advice. This is just my opinion based on what I read and what I think. #crypto2023

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