Minnesota Wild Force Game 7 after Cam Talbot’s Shutout

Knights after being down 3-1 in the series. While this is stellar news for the Wild, Vegas is now facing down the same situation they faced in 2019, where the San Jose Sharks made an incredible comeback from a 3-1 series deficit to defeat the Knights in the first round.

Now it’s Minnesota’s turn.

Despite a controversial goaltender interference call that resulted in the Wild going on the man advantage—resulting in a Wild goal—Cam Talbot had the performance of his career, stopping all 23 of Vegas’ shots for his second shutout of the series.

Vegas’ Overturned Goal

With just over 11 minutes remaining in the third period, Chandler Stephensen one-timed a shot from the circle to beat Cam Talbot. Only, Alex Tuch was in the crease, resulting in an overturned goal, keeping the game 1-0 Wild. While on the power play after a delay-of-game penalty against Vegas, Minnesota raked in their second goal by way of Kevin Fiala, who scored his first goal of the series.

There’s been a ton of chatter about what qualifies as goaltender interference. For many, it doesn’t appear the referees have been consistent with how they’re defining it. However, Tuch’s goaltender interference is strangely reminiscent of an overturned goal against Joel Eriksson Ek earlier in the series.

There’s been discussion on whether the NHL is moving toward the International Ice Hockey Federation’s (IIHF) foot-in-the-crease rule. Though this rule would likely make some people unhappy, it would at least be identifiable after a replay.

Sportsnet published a piece by Paul Romanuk in 2018, arguing that the NHL should adopt the IIHF’s rule on foot-in-the-crease penalties, which states: ““If an attacking skater establishes position in the goal crease, play will be stopped and the ensuing faceoff will take place at the nearest faceoff spot in the neutral zone.”

It has yet to be seen how the NHL will address goaltender interference moving forward, but it’s safe to say that the inconsistent calls happened to go the Wild’s way Wednesday night.

With the aid of the interference call, Cam Talbot managed to blank Vegas for the second time in the series, pushing the series to a Game 7 showdown in Vegas Friday night.

Cam Talbot’s Supreme Performance

It was probably expected that Marc Andre-Fleury would perform well in the series, just as he has all season long. But to suppose that Cam Talbot would register two shutouts in a series against a goal-scoring team like Vegas was unexpected.

With 19 wins and only 8 losses in 33 games this season, Talbot has put up a .915 save percentage over the course of the year. He’s averaged just 2.63 goals against this season—the same as last year when he was in Calgary.

Talbot now has six shutouts in just 29 playoff starts. This isn’t a stat many would expect from a goaltender who went undrafted and spent time playing hockey at the University of Alabama in Huntsville. These are not necessarily All-Star beginnings.

Nevertheless, Talbot has been exactly what Minnesota has needed in order to be a threat this postseason. Though the Wild had trouble putting up points throughout the series, Talbot has pulled his weight, giving his team a chance to win almost every night.

Final Thoughts

The Wild have shown that they’re willing to fight back in order to get out of the first round with a victory. As they prepare for Game 7 in Vegas, the offensive threats of Eriksson Ek, Fiala, and Kaprisov will need to be on their game if they stand a chance of closing out the series.

Should the Wild slip out of Vegas with a victory, they’ll have an even more dangerous team waiting for them in the Colorado Avalanche—a team that absolutely embarrassed the Blues in a 4-0 series sweep in the first round.

Onward we go!

Elon Musk and Michael Saylor Form Working Group With Bitcoin Miners

Weeks after Tesla’s pronouncement that it will no longer accept Bitcoin as a payment method for its electric vehicles, the car manufacturer’s chief executive disclosed that they have are in discussion with Bitcoin miners based in North America.According to Musk’s recent tweet, the discussions were in relation to the miners’ commitment “to publish current & planned renewable usage” in an effort to create a sustainability initiative worldwide. The initial discussions were “potentially promising,” added Musk. Notably, Bitcoin jumped by around $2,000 in base price after the tweet.In response, MicroStrategy CEO Michael Saylor disclosed that it was him who hosted the meeting. Saylor also shared that participants of the meeting included leading Bitcoin mining firms from North America, with executives from Argo Blockchain, Blockcap, Core Scientific, Galaxy Digital, Hive Blockchain, Hut 8 Mining, Marathon Digital Holdings, and Riot Blockchain participating. The meeting was convened by Saylor in order to form the Bitcoin Mining Council, an industry working group that would organize initiatives to standardize energy reporting, pursue industry ESG (Environmental, Social, Corporate Governance) goals, and further educate and grow the crypto and blockchain space. In line with these goals, the Bitcoin Mining Council would promote energy usage transparency and help accelerate sustainability initiatives worldwide.Argo Blockchain CEO Peter Wall confirmed that their firm was a founding member of the council. “As a founding member of the Bitcoin Mining Council, Argo will push hard for sustainable mining and more transparency. This is the way!” Wall shared on Twitter. Marathon Digital Holdings and Hut 8 Mining have also confirmed their participation in the council.The council’s formation follows a week of intensive correction in the crypto and blockchain industry which saw Bitcoin dipping to the $30,000 level amid bans on Bitcoin mining in China and other regulatory woes in the space.According to a study from scientific journal Nature Communications, China has had over 75% dominance in Bitcoin hashrate and processing power until mid-2020. This is expected to radically shift in the coming months, following China’s imposition of a mining ban alongside tighter regulatory frameworks for crypto-related firms within its domain.Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

Market Review: Bitcoin, Ethereum markets bounce

The cryptocurrency market shows a steady rise after the big sell-off last week after many indicators turned bearish, but are we out of the rough patch yet?

Last week, after the price closed below the 20MA (a popular indicator used by traders to assess the price momentum), there was a huge sell-off which saw Bitcoin prices fall by almost 40% in a single day, inciting panic in the market.

A lot of external factors also seem to have played a role in the drop, especially the ban on cryptocurrency mining announced by the Chinese government.

However, it looks like the market now seems to be recovering slowly as the China-stricken fear, uncertainty, dismissal, gets addressed by the broader crypto community.

Bitcoin rallies as Elon Musk meets with miners

Bitcoin has rallied to nearly US$40,000, boosted by tweets from Tesla founder Elon Musk and MicroStrategy CEO Michael Saylor announcing that they have met with North American miners of the cryptocurrency to promote a renewable energy initiative.

Fast Facts:

The price of Bitcoin has risen nearly 10% in the past 24 hours, peaking at US$39,835 following a tweet by Musk that said: “Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.”

MicroStrategy CEO Michael Saylor quickly followed with his own tweet, saying he had hosted a meeting between the Tesla CEO and some Bitcoin miners — including Argo Blockchain, Galaxy Digital, Blockcap and Hive Blockchain — that led to the formation of the Bitcoin Mining Council, an initiative to promote sustainability. “The miners have agreed to form the Bitcoin Mining Council to promote energy usage transparency & accelerate sustainability initiatives worldwide,” Saylor wrote.

The news follows Musk’s comments in mid-May that Tesla would no longer accept Bitcoin as payment, citing the environmental impact of mining it using fossil fuel-fired electricity. The announcement sparked a massive sell-off that sent Bitcoin’s price down to just above US$31,000 on Sunday.

Bitcoin’s recovery on Monday also comes amid institutional demand and apparent support from Bridgewater Associates founder Ray Dalio, who revealed yesterday that he owns some Bitcoin.

Here’s Why BTC Turned Attractive On Dips

 Bitcoin price gained bullish momentum above the $38,000 resistance against the US Dollar. BTC is now consolidating gains and it is likely to remain supported near $37,000.

• Bitcoin started a steady increase above the $37,000 and $38,000 resistance levels.
• The price is now trading above the $37,000 zone and the 100 hourly simple moving average.
• There is a short-term contracting triangle forming with resistance near $39,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could correct lower, but the bulls are likely to protect the $37,000 zone and the 100 hourly SMA.

Bitcoin Price Turns Green

Bitcoin remained well bid above the $35,000 level and it started a fresh increase. BTC broke the key $37,000 resistance zone and the 100 hourly simple moving average to move …

Ethereum Price Prediction: ETH bids goodbye to $3,000

Ethereum gracefully rose from the support formed at $1,750 to trade near $2,800. The recovery was not unique to the pioneer altcoin but cut across the market, with Bitcoin rising from $30,500 to $38,000.

However, the 50 Simple Moving Average (SMA) on the four-hour chart curtailed the bullish development, adding credence to the bearish pressure. An ongoing correction has pushed ETH to trade slightly above $2,500 at writing.

Ethereum’s short-term technical outlook waning

The gigantic smart contract token currently seeks higher support to resume the uptrend eyeing $3,000. Nonetheless, the Relative Strength Index (RSI) shows that the bullish momentum is fading, and bulls may not have the ability to rally beyond $3,000 right away.

It is essential to keep in mind the formation of a death cross pattern on the four-hour chart. The highly bearish pattern came into the picture after the 50 SMA crossed below the 100 SMA. This formation implies that overhead pressure intensifies, and bears have the upper hand.

ETH/USD four-hour chart

Read more

ETH/USD price chart by Tradingview

Failing to make a four-hour close above $2,500 may lead to more losses. The next tentative anchor zones include, $2,000 and $1,750.

Looking at the side of the fence

The Moving Average Convergence Divergence (MACD) still has a bullish impulse despite the retreat from the highs traded on Monday. The wide divergence made by the MACD line (blue) above the signal line is a formidable bullish signal, likely to call more buyers into the market. Besides, trading above the 50 SMA may trigger immense buy orders as bulls gaze at levels beyond $3,000.

Ethereum intraday levels

Spot rate: $2,586

Trend: Bearish

Volatility: High

Support: $2,500, $2,300 and $2,000

Resistance: The 50 SMA on the four-hour chart and $3,000

Bitcoin Holds Short-Term Support; Faces Resistance at $40K

Bitcoin (BTC) remained under pressure over the weekend as traders react to China’s latest news about tightening crypto regulation. The cryptocurrency is down about 36% month to date and was trading around $37,000 at the time of writing. Price recoveries should remain limited to $40,000 as the broader uptrend weakens.

Slowing momentum has been the dominant theme this year as bitcoin failed to maintain all-time highs. Long term sell signals were in place before headlines accelerated price declines, which preceded a gradual and then sudden capitulation of long positions.

The relative strength index (RSI) on the four-hour chart has struggled to break above neutral over the past week. In a downtrend, oversold readings can persist for extended periods, which suggests a lack of significant support levels.

Bitcoin re-tested minor support around $30,000 over the weekend, but stronger support is seen around $27,000.

BTC is trading below the 100-day moving average and the correction does not appear exhausted at current levels. This means sellers should remain active as bitcoin struggles to break above $40,000.

Musk Tweet Again While Top Hedge Fund Reverses On Bitcoin

The price of Bitcoin and other cryptocurrencies jumped on Monday after Tesla (TSLA) CEO Elon Musk tweeted about a "potentially promising" conversation he said he had with Bitcoin miners about renewable energy.

The remarks — the latest from Musk to send crypto prices soaring or reeling — came as traders during the day processed support from other big financial names. Meanwhile, China showed few signs of relenting on its crackdown on cryptocurrencies.

"Spoke with North American Bitcoin miners," Musk said, referring to the people who create new Bitcoins. "They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising."

Minutes after Musk's tweet, Michael Saylor, the CEO of business analytics platform Microstrategy (MRST), also tweeted that he hosted a meeting yesterday between Musk and "leading Bitcoin miners in North America." He said the miners agreed to form the Bitcoin Mining Council to "promote energy usage transparency & accelerate sustainability initiatives worldwide."

Executives from Argo Blockchain, Blockcap, Marathon Digital Holdings (MARA) and Riot Blockchain (RIOT) were among those present, said Saylor, whose own company has loaded up on Bitcoin over the past year.

The companies, he said, "decided to establish an organization to standardize energy reporting, pursue industry ESG goals, & educate+grow the marketplace."

Musk made the announcement after saying earlier in the month that Tesla had suspended the use of Bitcoin to purchase vehicles, citing the amount of energy the cryptocurrency consumes. However, he has said that cryptocurrency, overall, still has potential.

Digiconomist has estimated that the annual carbon footprint and electrical-energy that Bitcoin chews through is equal to some smaller nations, as servers around the globe work to clear transactions. Most of the world's Bitcoin mining is done in China.

Bitcoin Vs. Bonds

Earlier in the day, Ray Dalio, founder of top hedge fund Bridgewater Associates, said he'd "rather have Bitcoin than a bond" in an inflationary environment, Coindesk said.

He made the remark in a prerecorded interview aired Monday at the Consensus by Coindesk conference.

Additionally, he said the value of the dollar was likely to fall. And he said in the interview that "I have some Bitcoin."

In January, Dalio called Bitcoin "one hell of an invention." But last year he expressed concerns about volatility and the possibility for a government crackdown on cryptocurrencies.

'Serious Crackdown' Hits Price of Bitcoin

Dalio's remarks followed a massive drop in the price of Bitcoin this month, after the cryptocurrency took off last year. Wider adoption from big investors and corporations, along with concerns about the value of traditional currencies during the coronavirus pandemic, led to a flight into Bitcoin.

In addition to Musk's earlier tweets this month, China has slapped new bans on crypto-related services, amid concerns about Bitcoin's volatility and energy use.

"It's become clear Beijing's stance isn't a one-off warning but the beginnings of a serious attempt to limit the decentralized power of cryptocurrencies," analyst Susannah Streeter said. Streeter, senior investment and markets analyst at Hargreaves Lansdown, made the comment in an emailed report.

Meanwhile Huobi, a crypto exchange, stopped miner hosting services in China, Coindesk reported on Sunday. It said it suspended services related to its Huobi Mall for new users in mainland China. Other services were also halted.

"Due to recent dynamic changes in the market, in order to protect the interests of investors, a portion of services such as futures contracts, ETP, or other leveraged investment products are temporarily unavailable to new users from a few specified countries and regions," Huobi said in a statement.

The statement didn't say which areas are affected. Meanwhile, OKEx, another exchange, said its OKB token cannot be traded with Chinese yuan, according to the Wall Street Journal.

Price of Bitcoin Rallies

Still, the price of Bitcoin rallied 16% to $39,077 Monday. Ethereum, another cryptocurrency, jumped 26% to $2,603.

Among Bitcoin stocks, the Grayscale Bitcoin Trust (GBTC) gained 10% during the regular session. Marathon Digital Holdings (MARA) fell 1.8%, after jumping during the day. Coinbase (COIN) rose 0.3%.

Microstrategy fell 0.9% after hours. Tesla was largely unchanged.

Some market watchers also attributed the rebound on Monday to investors buying at a discount and tweets from Musk over the weekend expressing support for crypto.

Streeter said that "despite the roller-coaster ride, some crypto fans who have buckled up see the recent falls as an opportunity to buy into currencies like Bitcoin at a cheaper price."

But when asked what Musk thought about people who were angry at him over his recent comments about cryptocurrencies, Musk said he still liked the digital assets.

"The true battle is between fiat & crypto," he said. "On balance, I support the latter."

"Following that tweet, crypto markets stabilized somewhat after China stepped up its efforts to crack down on Bitcoin mining and trading," Fawad Razaqzada, a market analyst with ThinkMarkets, said in an email.

China to crack down on mining of cryptocurrencies

China’s renewed campaign against cryptocurrency has mining and exchange operators retreating from the country.  

On Friday, Chinese Vice Premier Liu He called for a "severe" crackdown on and punishment of "illegal securities activities," including crypto mining and trading to—as he put it—stem risks and ensure financial stability. The announcement sent cryptocurrency prices tumbling by double-digits over the weekend, and it has prompted several crypto mining and cryptocurrency exchanges to halt their operations in China.

Huobi, the world’s second-largest crypto exchange by volume, said in a statement on Sunday that it has suspended crypto mining hosting services and the sale of crypto mining machines in China, according to Coindesk. BTC.TOP, a mining 'pool' that allows coordinated groups to work together to mine new coins, announced a withdrawal from Chinese operations, citing regulatory concerns. Mine operator HashCow has indicated it will suspend new businesses in China and stop purchasing new mining rigs, according to a Reuters report.

The Friday order reiterated Beijing's years-long anti-cryptocurrency stance, but it risks dealing a blow to the world's cryptocurrency mining. Chinese miners account for 75% of the world's Bitcoin hash rate—the total computational power used to mine and process crypto transactions—given the country's access to specialized hardware and cheap electricity, according to new research published by Nature Communications.

The news prompted a crypto selloff and operators' exodus from China, but experts argue that the new order will cause little long-term disruption; mining operations will just shift elsewhere.

China exodus

According to Huobi's statement, the Seychelles-headquartered firm will suspend crypto mine hosting services for clients in China. It is the eighth-largest mining pool in the world, and contributes 4% of the world's Bitcoin hash rate, according to BTC.com, a site that tracks global mining pool data. Huobi is also temporarily blocking certain products in a few markets, including futures contracts and other leveraged investments to "protect investors" in the face of market shifts. While the company did not specify which countries would be affected, Decrypt noted that China is the only country where traders have reported restrictions.

Huobi declined to disclose further information to Fortune, and cited its plans to expand 'Huobi Pool'—its mining operations—globally as impetus to "suspend...related services for new users in mainland China."

Jiang Zhuoer, founder of BTC.TOP, says his firm is also looking beyond China, given the Friday announcement. Writing on Weibo, Jiang said that mining operations—including his own—will eventually shift to North America. He predicts that China-produced mining rigs will mainly be sold overseas in the long run.

Crypto miner HashCow, which owns 10 mining projects in Chinese provinces such as Sichuan and Xinjiang, wrote in a client note that it will suspend new businesses in China and stop buying new Bitcoin rigs, according to Reuters. HashCow did not return Fortune's request for comment.

Meanwhile OKEx, a top-ten crypto exchange worldwide, has limited its services for Chinese users, temporarily delisting its token 'OKB' on its peer-to-peer platform, writes Decrypt. OKEx didn't return Fortune's request for comment.

The varied responses from top market players indicates “they [may] want the dust to settle before taking a directional bet,” says Justin d’Anethan, head of exchange sales at Diginex, a blockchain financial and technology firm.

Growing pains                      

China first indicated its anti-cryptocurrency stance in 2013, when it banned financial institutions from handling Bitcoin transactions. In 2017, China’s Central Bank outlawed initial coin offerings, or ICOs, and officials have decried the environmental toll of cryptocurrency mining, which is energy-intensive and often powered by coal. In April, China's Inner Mongolia province outlawed Bitcoin mining, forcing mining operators to decamp for other regions in China and overseas.

In recent weeks, Chinese authorities have piled on regulation, framing the crackdown on cryptocurrencies as necessary to ward off financial risks and protect investors. On May 18, Beijing announced new rules that prohibit financial institutions and payment companies from providing services related to digital currencies. Then on Friday, it unleashed its latest statement against mining and trading operations.

The latest round of regulatory action from Beijing “shows a continuing trend of stronger government action and serious consideration from regulators,” d’Anethan says. Such actions mean the still-nascent crypto markets are “feeling the growing pains.” But in the long run, they may make larger, institutional players feel more comfortable entering China, knowing they're operating in a regulated and lawful space.

He predicts that miners displaced by the Friday action will relocate to nearby regions including Mongolia, Kazakhstan and Afghanistan.