Bitcoin Cryptocurrency Price Chart May Show $30,000 as Floor

Bitcoin has been grinding lower in a trading range just above $30,000, prompting cryptocurrency insiders to flag the round number as a potential floor for the virtual coin.

Crypto prognostication is fraught with risk, not least because Bitcoin’s price has roughly halved from a record high three months ago. Even so, some in the industry are coalescing around $30,000 as a support point, citing clues from options activity and recent trading habits.

In options, $30,000 is the most-sold downside strike price for July and August, signaling confidence among such traders that the level will hold, according to Delta Exchange, a crypto derivatives exchange. It “should provide a strong support to the market,” Chief Executive Officer Pankaj Balani said.

Traders are also trying to take advantage of price ranges, including buying between $30,000 and $32,000 and selling in the $34,000 to $36,000 zone, Todd Morakis, co-founder of digital-finance product and service provider JST Capital, said in emailed comments, adding that “the market at the moment seems to paying attention more to bad news than good.”

Bitcoin has been hit by many setbacks of late, including China’s regulatory crackdown — partly over concerns about high energy consumption by crypto miners — and progress in central bank digital-currency projects that could squeeze private coins. The creator of meme-token Dogecoin recently lambasted crypto as basically a sham, and the appetite for speculation is generally in retreat.

Bitcoin traded around $31,600 as of 9:26 a.m. in London and is down about 6% so far this week. It’s still up more than 200% over the past 12 months, despite a rout in calendar 2021.

Konstantin Richter, chief executive officer and founder of Blockdaemon, a blockchain infrastructure provider, holds out hope for institutional demand, arguing Bitcoin would have to drop below $20,000 before institutions start questioning “the validity of the space.”

“If it goes down fast, it can go up fast,” he said in an interview. “That’s just what crypto is.”

— With assistance by Akshay Chinchalkar

Source: Bitcoin (BTC USD) Cryptocurrency Price Chart May Show $30,000 as Floor – Bloomberg

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Critics:

The dramatic pullback in bitcoin and other cryptocurrencies comes as a flurry of negative headlines and catalysts, from Tesla CEO Elon Musk to a new round of regulations by the Chinese government, have hit an asset sector that has been characterized by extreme volatility since it was created.

The flagship cryptocurrency fell to more than three-month lows on Wednesday, dropping to about $30,000 at one point for a pullback of more than 30% and continuing a week of selling in the crypto space. Ether, the main coin for the Ethereum blockchain network, was also down sharply and broke below $2,000 at one point, a more than 40% drop in less than 24 hours.

Part of the reason for bitcoin’s weakness seems to be at least a temporary reversal in the theory of broader acceptance for cryptocurrency.

Earlier this year, Musk announced he was buying more than $1 billion of it for his automaker’s balance sheet. Several payments firms announced they were upgrading their capabilities for more crypto actions, and major Wall Street banks began working on crypto trading teams for their clients. Coinbase, a cryptocurrency exchange company, went public through a direct listing in mid-April.

The weakness is not isolated in crypto, suggesting that the moves could be part of a larger rotation by investors away from more speculative trades.

Tech and growth stocks, many of which outperformed the broader market dramatically during the coronavirus pandemic, have also struggled in recent weeks.

The Hidden Dangers of Protein Powders

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Adding protein powder to a glass of milk or a smoothie may seem like a simple way to boost your health. After, all, protein is essential for building and maintaining muscle, bone strength, and numerous body functions. And many older adults don’t consume enough protein because of a reduced appetite.

But be careful: a scoop of chocolate or vanilla protein powder can harbor health risks. “I don’t recommend using protein powders except in a few instances, and only with supervision,” says registered dietitian Kathy McManus, director of the Department of Nutrition at Harvard-affiliated Brigham and Women’s Hospital.

What is protein powder?

Protein powders are powdered forms of protein that come from plants (soybeans, peas, rice, potatoes, or hemp), eggs, or milk (casein or whey protein). The powders may include other ingredients such as added sugars, artificial flavoring, thickeners, vitamins, and minerals. The amount of protein per scoop can vary from 10 to 30 grams. Supplements used for building muscle contain relatively more protein, and supplements used for weight loss contain relatively less.

What are the risks?

There are numerous risks to consider when using a protein powder. Among them:

  • A protein powder is a dietary supplement. The FDA leaves it up to manufacturers to evaluate the safety and labeling of products. So, there’s no way to know if a protein powder contains what manufacturers claim.
  • We don’t know the long-term effects. “There are limited data on the possible side effects of high protein intake from supplements,” McManus says.
  • It may cause digestive distress. “People with dairy allergies or trouble digesting lactose [milk sugar] can experience gastrointestinal discomfort if they use a milk-based protein powder,” McManus points out.
  • It may be high in added sugars and calories. Some protein powders have little added sugar, and others have a lot (as much as 23 grams per scoop). Some protein powders wind up turning a glass of milk into a drink with more than 1,200 calories. The risk: weight gain and an unhealthy spike in blood sugar. The American Heart Association recommends a limit of 24 grams of added sugar per day for women and 36 grams for men.

A new risk revealed

Earlier this year, a nonprofit group called the Clean Label Project released a report about toxins in protein powders. Researchers screened 134 products for 130 types of toxins and found that many protein powders contained heavy metals (lead, arsenic, cadmium, and mercury), bisphenol-A (BPA, which is used to make plastic), pesticides, or other contaminants with links to cancer and other health conditions. Some toxins were present in significant quantities. For example, one protein powder contained 25 times the allowed limit of BPA.

How could protein powder contain so many contaminants? The Clean Label Project points to manufacturing processes or the existence of toxins in soil (absorbed by plants that are made into protein powders).

Not all of the protein powders that were tested contained elevated levels of toxins. You can see the results at the Clean Label Project’s website (www.cleanlabelproject.org).

Daily protein goals

Aim for the Recommended Dietary Allowance for protein intake: 46 grams per day for women and 56 grams for men. For example:

  • an egg for breakfast (6 grams)
  • 6 ounces of plain Greek yogurt at lunch (18 grams)
  • a handful of nuts for a snack (4–7 grams)
  • a cup of milk (8 grams) and 2 ounces of cooked chicken for dinner (14 grams).

What you should do

McManus says that in certain cases, chemical-free protein powders may be helpful—but only with medical supervision. Such cases could include

  • difficulty eating or an impaired appetite (as a result of cancer treatment or frailty from older age)
  • a surgical incision or a pressure wound that is not healing well (your body needs protein to repair cells and make new ones)
  • a serious condition requiring additional calories and protein in order for you to get better (such as burns).

Otherwise, get protein from whole foods: nuts, seeds, low-fat dairy products (yogurt, milk, cheese), legumes (beans, lentils), fish, poultry, eggs, and lean meat. “You’ll find,” McManus says, “that there are many ways to get protein without turning to a powder.”

Source: The hidden dangers of protein powders – Harvard Health

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Critics:

Bodybuilding supplements are dietary supplements commonly used by those involved in bodybuilding, weightlifting, mixed martial arts, and athletics for the purpose of facilitating an increase in lean body mass. The intent is to increase muscle, increase body weight, improve athletic performance, and for some sports, to simultaneously decrease percent body fat so as to create better muscle definition.

Among the most widely used are high protein drinks, pre-workout blends, branched-chain amino acids (BCAA), glutamine, arginine, essential fatty acids, creatine, HMB, whey protein, ZMA and weight loss products. Supplements are sold either as single ingredient preparations or in the form of “stacks” – proprietary blends of various supplements marketed as offering synergistic advantages.

While many bodybuilding supplements are also consumed by the general public the frequency of use will differ when used specifically by bodybuilders. One meta-analysis concluded that – for athletes participating in resistance exercise training and consuming protein supplements for an average of 13 weeks – total protein intake up to 1.6 g/kg of body weight per day would result in an increase in strength and fat-free mass, but that higher intakes would not further contribute.

In addition to being potentially harmful, some have argued that there is little evidence to indicate any benefit to using bodybuilding protein or amino acid supplements. A 2005 overview concluded that “[i]n view of the lack of compelling evidence to the contrary, no additional dietary protein is suggested for healthy adults undertaking resistance or endurance exercise”.

In dispute of this, a 2017 meta-analysis concluded that for athletes participating in resistance exercise training and consuming protein supplements for an average of 13 weeks, total protein intake up to 1.6 g per kg body weight per day would result in an increase in strength and fat-free mass, i.e. muscle, but that higher intakes would not further contribute. The muscle mass increase was statistically significant but modest – averaging 0.3 for all trials and 1.0 to 2.0 kg, for protein intake ≥ 1.6 g/kg/day.

See also

How to Lose Weight Fast: 3 Simple Steps, Based on Science

It’s hard to lose weight. A doctor shares 6 essential tips to make it easier. A Harvard doctor shares her best strategy for measuring progress — and it has nothing to do with the scale. Choosing unhealthy foods can also lead to weight gain. And it’s not as simple as just eating too many calories.

An unhealthy diet triggers changes in the way your brain, gut, and hormones work together. “An unhealthy diet will lead to more inflammation. That includes inflammation in the brain, and adverse effects on hormones that influence brain function,” Manson said.

Ever notice how you can burn right through an entire bag of potato chips or a sleeve of cookies? Highly processed foods, refined carbohydrates, and sugar don’t make you feel full. “In fact, they lead to a sort of rebound hunger where you’re eating many more calories than you would need if you had a high-quality diet,” Manson said.

Processed foodsoften have the nutrients and fiber stripped out of them. They are more likely to be absorbed into the bloodstream quickly, which leads to an insulin surge. That’s what makes you feel hungry and can lead to overeating and weight gain.

If your doctor recommends it, there are ways to lose weight safely. A steady weight loss of 1 to 2 pounds per week is recommended for the most effective long-term weight management. That said, many eating plans leave you feeling hungry or unsatisfied. These are major reasons why you might find it hard to stick to a healthier eating plan.

However, not all diets have this effect. Low carb diets and whole food, lower calorie diets are effective for weight loss and may be easier to stick to than other diets. Here are some ways to lose weight that employ healthy eating, potentially lower carbs, and that aim to:

  • reduce your appetite
  • cause fast weight loss
  • improve your metabolic health at the same time

How to Lose Weight Fast in 3 Simple Steps

1. Cut back on refined carbs

One way to lose weight quickly is to cut back on sugars and starches, or carbohydrates. This could be with a low carb eating plan or by reducing refined carbs and replacing them with whole grains.

When you do that, your hunger levels go down, and you generally end up eating fewer calories (1Trusted Source).

With a low carb eating plan, you’ll utilize burning stored fat for energy instead of carbs.

If you choose to eat more complex carbs like whole grains along with a calorie deficit, you’ll benefit from higher fiber and digest them more slowly. This makes them more filling to keep you satisfied.

A 2020 study confirmed that a very low carbohydrate diet was beneficial for losing weight in older populations (2).

Research also suggests that a low carb diet can reduce appetite, which may lead to eating fewer calories without thinking about it or feeling hungry (3Trusted Source).

Note that the long-term effects of a low carb diet are still being researched. It can also be difficult to adhere to a low carb diet, which may lead to yo-yo dieting and less success in maintaining a healthy weight.

There are potential downsides to a low carb diet that may lead you to a different method. Reduced calorie diets can also lead to weight loss and be easier to maintain for longer periods of time.

If you opt for a diet focusing instead on whole grains over refined carbs, a 2019 study correlated high whole grain with lower body mass index (BMI) (4Trusted Source).

To determine the best way for you to lose weight, consult your doctor for recommendations.

2. Eat protein, fat, and vegetables

Each one of your meals should include:

  • a protein source
  • fat source
  • vegetables
  • a small portion of complex carbohydrates, such as whole grains

To see how you can assemble your meals, check out:

Protein

Eating a recommended amount of protein is essential to help preserve your health and muscle mass while losing weight (5Trusted Source).

Evidence suggests that eating adequate protein may improve cardiometabolic risk factors, appetite, and body weight, (6Trusted Source, 7Trusted Source, 8Trusted Source).

Here’s how to determine how much you need to eat without eating too much. Many factors determine your specific needs, but generally, an average person needs (9Trusted Source):

  • 56–91 grams per day for the average male
  • 46–75 grams per day for the average female

Diets with adequate protein can also help:

  • reduce cravings and obsessive thoughts about food by 60%
  • reduce the desire to snack late at night by half
  • make you feel full

In one study, people on a higher protein diet ate 441 fewer calories per day (10Trusted Source, 11Trusted Source).

Healthy protein sources include:

  • meat: beef, chicken, pork, and lamb
  • fish and seafood: salmon, trout, and shrimp
  • eggs: whole eggs with the yolk
  • plant-based proteins: beans, legumes, quinoa, tempeh, and tofu

Low carb and leafy green vegetables

Don’t be afraid to load your plate with leafy green vegetables. They’re packed with nutrients, and you can eat very large amounts without greatly increasing calories and carbs.

Vegetables to include for low carb or low calorie eating plans:

  • broccoli
  • cauliflower
  • spinach
  • tomatoes
  • kale
  • Brussels sprouts
  • cabbage
  • Swiss chard
  • lettuce
  • cucumber

Healthy fats

Don’t be afraid of eating fats.

Your body still requires healthy fats no matter what eating plan you choose. Olive oil and avocado oil are great choices for including in your eating plan.

Other fats such as butter and coconut oil should be used only in moderation due to their higher saturated fat content (12Trusted Source).

3. Move your body

Exercise, while not required to lose weight, can help you lose weight more quickly. Lifting weights has particularly good benefits.

By lifting weights, you’ll burn lots of calories and prevent your metabolism from slowing down, which is a common side effect of losing weight (13Trusted Source, 14Trusted Source, 15Trusted Source).

Try going to the gym three to four times a week to lift weights. If you’re new to the gym, ask a trainer for some advice. Make sure your doctor is also aware of any new exercise plans.

If lifting weights is not an option for you, doing some cardio workouts such as walking, jogging, running, cycling, or swimming is very beneficial for weight loss and general health.

Both cardio and weightlifting can help with weight loss.

What about calories and portion control?

If you opt for a low carb eating plan, it’s not necessary to count calories as long as you keep your carb intake very low and stick to protein, fat, and low carb vegetables.

If you find yourself not losing weight, you may want to keep track of your calories to see if that’s a contributing factor.

If you’re sticking to a calorie deficit to lose weight, you can use a free online calculator like this one.

Enter your sex, weight, height, and activity levels. The calculator will tell you how many calories to eat per day to maintain your weight, lose weight, or lose weight fast.

You can also download free, easy-to-use calorie counters from websites and app stores. Here’s a list of 5 calorie counters to try.

Note that eating too few calories can be dangerous and less effective for losing weight. Aim to reduce your calories by a sustainable and healthy amount based on your doctor’s recommendation.

Breakfast ideas

Lunch ideas

  • smoked salmon with avocado and a side of asparagus
  • lettuce wrap with grilled chicken, black beans, red pepper, and salsa
  • kale and spinach salad with grilled tofu, chickpeas, and guacamole
  • BLT wrap with celery sticks and peanut butter

Dinner ideas

  • enchilada salad with chicken, peppers, mango, avocado, and spices
  • ground turkey bake with mushrooms, onions, peppers, and cheese
  • antipasto salad with white beans, asparagus, cucumbers, olive oil, and Parmesan
  • roasted cauliflower with tempeh, Brussels sprouts, and pine nuts
  • salmon baked with ginger, sesame oil, and roasted zucchini

Snack ideas

Source: How to lose weight: A doctor shares 6 essential tips to make it easier

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References

Ruiz, F. J. (2010). “A review of Acceptance and Commitment Therapy (ACT) empirical evidence: Correlational, experimental psychopathology, component and outcome studies”. International Journal of Psychology and Psychological Therapy. 10 (1): 125–62.