Bitcoin’s Recent Rally: a Short-Lived Bullish Signal Amidst Bear Market Concerns
In October, Bitcoin (BTC) had a good start, and historically, it’s dubbed as ‘Uptober.’ Bitcoin’s price increased by 6% monthly and 4.5% in just one week. This made Bitcoin fans happy, but some experts are discussing whether this rise will last and what it means for the market.
The price of Bitcoin has recently experienced a rally, sparking positivity among investors and enthusiasts. However, experts warn that this surge may be a temporary bear market rally, and caution is advised.
According to a new video by Cheeky Crypto, the cryptocurrency rose from its recent lows, reaching a peak just above $28,000. This upswing has been accompanied by a surge in altcoin prices, contributing to the overall positive sentiment.
Bear Market Rally or Bullish Reversal?
Despite the optimism surrounding this rally, analysts quickly point out that celebrating may be too soon. Many indicators suggest this could be a bear market rally rather than a sustained bullish reversal. Bitcoin would need to break above a critical resistance level at $28,588 to confirm a bullish trend.
October has historically been a month of bear market rallies for Bitcoin. While this recent rally aligns with past trends, it’s essential to remember that cryptocurrency markets are highly volatile and subject to rapid changes.
$20,000 as a Critical Support Level:
He mentioned that breaking above $28,588 would be a positive sign for bulls. However, they also mention the possibility of further bear market rallies in October and express concerns about the potential for Bitcoin to test the $20,000 level.
One crucial concern raised by the analyst is the possibility of Bitcoin testing the $20,000 support level. If Bitcoin fails to hold above $20,000, it could signify a more extended period of bearish sentiment and a revisit to lower price levels.
Acceleration of Bitcoin Spark’s ICO in Bear Market Could Mean Massive Profit
With the next anticipated crypto bull run quickly approaching, many investors are looking for the best crypto to invest in. On that note, market observers suggest that the breathtaking acceleration of Bitcoin Spark’s Initial Coin Offering (ICO) in the bear market could mean massive profits.
When is the next crypto bull run?
Many in the crypto community are looking towards the upcoming Bitcoin halving event, which is predicted to occur in 2024, as a potential catalyst for the start of the next crypto bull run. Bitcoin halvings reduce the rate at which new Bitcoins are created, and with each halving, scarcity increases, and demand tends to surge, leading to price increases. Historically, Bitcoin halvings have been pivotal moments that trigger significant price rallies for the entire crypto market.
What is Bitcoin Spark?
Bitcoin Spark is the latest Bitcoin Fork. It has gained attention for its ability to preserve Bitcoin’s history by maintaining a limited supply of 21 million coins while introducing a range of innovative features that position it as a pioneer of the next generation of crypto.
The Bitcoin Spark blockchain will have a shorter block time, enhanced transaction capabilities per block, and a substantially larger number of nodes than Bitcoin, ensuring faster and more cost-efficient transactions.
Additionally, the blockchain will have a multi-layered infrastructure that includes a smart contract layer with separate execution systems that all reach finality on the main network. This ensures scalability and allows for a variety of high-level and low-level programming languages, encouraging diversity in the smart contracts and decentralized applications (Dapps) within the ecosystem. Bitcoin Spark has successfully passed multiple smart contract audits, indicating the sustainability of its network.
Furthermore, Bitcoin Spark uses a revolutionary consensus mechanism known as the Proof-of-Process (PoP). This mechanism non-linearly rewards miners for confirming blocks and contributing their processing power to the network. The nonlinearity of rewards and extensive node network allows even those with lower-powered devices to mine BTCS. In fact, the Bitcoin Spark team is set to launch a mining application compatible with Windows, Mac OS, iOS, and Android devices.
The miners’ contributed power will be rented out as remote computing power to individuals and organizations through Bitcoin Spark. Payments will be made in BTCS, and 97% of the revenue will be allocated to the mining pool. The BTCS minting rewards will run on an elastic system that factors the income generated within Bitcoin Spark. If more revenue is generated, the BTCS minting rewards are reduced proportionally. This moves the BTCS minting endpoint further, ensuring consistent profits for miners in the long term.
Additionally, Bitcoin Spark will incorporate small, unobtrusive spaces for advertisements in its application and blockchain explorer. The ads will be community-policied to ensure security and credibility while upholding decentralization. Advertisers will be required to pay in BTCS, merging Bitcoin Spark with the booming marketing industry. The network’s participants will receive 50% of the revenue generated and extra incentives for policing the ads.
The Bitcoin Spark ICO
The Bitcoin Spark Initial Coin Offering (ICO) started on 1st August, with BTCS selling at $1.25 and investors getting a 20% bonus. Barely five weeks after its onset, the ICO had witnessed more than $1.4 million in investments, with notable purchases from crypto whales. The ICO is currently in Phase 6 out of 10, with BTCS priced at $2.75 and investors getting an 8% bonus. BTCS is set to launch at $10 on 30th November, signifying a 393% increase from its current price and an 800% increase from its Phase 1 price.
Bitcoin Spark’s innovative technology, limited supply, low market capitalization, and launch close to the start of the potential bull run could lead to unprecedented price surges, yielding massive profits.
For more information on Bitcoin Spark:
Website: https://bitcoinspark.org/
Crypto Market Analysis: Is This End Of the Bear Market? Here’s What Next For Bitcoin Price
A seasoned trader renowned for accurately predicting the bottom of the 2018 bear market for Bitcoin (BTC) now believes that the leading cryptocurrency, bitcoin, has transformed into a bull market.
Bitcoin Price Prediction After Recent Rally
A prominent trader named Bluntz has recently posted on X that Bitcoin’s recent rally has altered the course of the future price trajectory for Bitcoin.
Meanwhile, the recent price surge can be attributed to the recent SEC approval of the Valkyrie fund. Consequently, Bitcoin’s price has surged from $27,100 to its current value of $28,250, marking an impressive 8% gain within a week.
Bluntz has stated that the recent increase in Bitcoin’s price has changed his prediction. Previously, he had forecasted that the Bitcoin price would drop to $24,430 before reaching the target price of $30,000. He based his prediction on the Elliott Wave theory.
But now, he says that Bitcoin going above $27,000 is a sign that things are looking up.
He said, “Bitcoin’s doing better, and that old idea of going down is no longer valid. It’s time to stop thinking negatively.”
AVAX’s Potential to Shine Amid Tough Times
Bluntz also monitors another cryptocurrency called Avalanche, or AVAX for short. It’s kind of like a competitor to Ethereum. Bluntz thinks AVAX might start doing well soon because it’s been through a tough time this year, losing over half its value.
He said, “AVAX is looking good on the weekly chart, and it’s been through a tough year. I think it might start going up by quite a bit.”
BCH Price Analysis: BCH Eyes $300 Despite A Bear Trap!
The post BCH Price Analysis: BCH Eyes $300 Despite A Bear Trap! appeared first on Coinpedia Fintech News
With the market taking a bullish step in October, the altcoins are rising higher to their previous swing highs. Even the BCH price reaches the $250 mark with a remarkable growth of 10% within just two days.
Currently, the overhead supply pressure at the psychological mark triggers a short correction in the Bitcoin Cash market value . However, with the sentiments taking a positive turn, the expectations for the Bitcoin Cash price prediction in 2023 remain optimistic.
With the recent recovery, the larger trend of the BCH price tells a story of a bullish revival to rise higher. The dominating buyers’ territory at $180 and the 200-day EMA gave Bitcoin Cash a bounce pad to regain momentum.
Moreover, the sharp rise to the $250 mark completes a rounding reversal that hints at an inverted head and shoulder. Currently, the altcoin price trades at $243.41 with an intraday fall of 1.23% and hints at a tweezer top.
With the incoming overhead supply pressure, the chances of BCH price taking a second dip to the $228 mark are increasing. This correction phase will complete the bullish pattern with the neckline at $250.
Technical indicators:
Coming to the technical indicators, the Directional Movement Index and the Exponential Moving Averages sustain a bullish point of view.
DMI indicator: The ADX line (black line) skyrockets with the recent recovery, signaling a strong momentum. Moreover, the DI line maintains a bullish standpoint and signals further recovery.
EMA: The 50 and 200-day EMA maintain a positive alignment and continue to rise higher, which certifies the uptrend in motion.
Will Bitcoin Cash (BCH) Price Touch $300?
Struggling to overcome the $250 mark reflects a potential pullback to $228 in BCH price. However, the inverted head and shoulder pattern formation will increase the likelihood of Bitcoin Cash exceeding $300. With the potential to continue the rally above, the reversal from $228 or the $250 breakout will prove a crucial entry point for sideline buyers.
Considering the price breaks below the $228 post, the downtrend will plunge the prices to $200.
PlanB: Bitcoin Bear Market Over, Bull Run to Start After 2024 Halving
Intriguing times lie ahead for Bitcoin enthusiasts as renowned analyst PlanB shines a light on the cryptocurrency’s future, forecasting a substantial surge in value slated to unfold post-April 2024. What’s the driving force behind this highly anticipated upswing, you ask? Well, PlanB points to none other than the next halving event.
PlanB’s Stock-to-Flow Model
The PlanB analysis is based on a forecasting model called the “stock-to-flow” model, which serves as the foundation for his predictions. This model revolves around Bitcoin’s increasing scarcity, consequently driving its price upwards.
You see, Bitcoin’s supply gets cut in half roughly every four years, which makes it rarer and more valuable. Consequently, experts anticipate this highly awaited process to begin following the next halving event, scheduled for April 2024.
Also Read: Black Swan or Bull Run? Here’s What to Expect from the 2024 Bitcoin Halving
Prepare for a Bull Run!
PlanB believes that this ongoing bullish market could extend for a minimum of eight months. Furthermore, there is speculation that Bitcoin may achieve its highest value by early 2025. This intriguing development holds considerable interest for individuals with investments in Bitcoin.
During the liquidation phase, PlanB has observed significant events, specifically the challenges faced by the Terra (LUNA) and FTX ecosystems. These developments highlight the ever-changing and occasionally unstable nature of the cryptocurrency landscape.
The Turning Point
PlanB believes that the bear market for Bitcoin may have already concluded in July 2023. Additionally, he noted that Bitcoin’s performance following the FTX phase left much to be desired. It’s worth noting that while PlanB’s model generally offers a broad outlook, it encountered difficulties in late 2021 when it failed to accurately predict certain market trends.
Read More: Bitcoin Halving Prediction 2024: Pantera Capital Predicts BTC Price To Hit $135K
PlanB has simplified his model for better comprehension, instead of employing complex terminology, he now employs a more straightforward approach by utilizing the “accumulation-bull market-bear market-liquidation” model to discuss the fluctuation of Bitcoin’s price over time. This modification reflects the rapid pace of the cryptocurrency world.
Despite the implemented changes, PlanB maintains the belief that people’s sentiments towards Bitcoin will remain relatively unchanged throughout the upcoming bullish market.
Is A Bear Trap Set For Bitcoin Price At $26K?
Amidst the recent bustling market, Bitcoin price demonstrated a notable 2.74% surge last Tuesday. This uptick has further emboldened the bullish momentum, thrusting Bitcoin price past the $26,600 threshold, marking an impressive 5.88% increase over the past week.
Yet, the weekend witnessed a slight deceleration in trading volume, hinting at a subdued bearish sentiment, mirrored by the appearance of a few doji red candles.
As we enter new week, Bitcoin price refuses to bow down, marching on with an intraday surge of 0.51%. At present, it’s trading hands at $26,670, forming an optimistic bullish candle, mitigating the minor pullback seen over the weekend.
A close inspection of the 50 and 200-day EMAs reveals a looming convergence, flagging potential for a death cross. Concurrently, an impending resistance trendline hovers just above the interplay of the EMAs as the next bearish hurdle for Bitcoin price.
Contrary to the daily chart, the technical 4-hour chart shows the high possibility of a golden crossover with the recent recovery. The consolidation zone of Bitcoin price is pinned between $26,274 and $26,730. A breakout in either direction will fuel Bitcoin’s next big move.
However, the upside breakout is ready to face the opposition from the resistance trendline and the EMAs.
Technical indicators:
Relative Strength Index: The daily RSI presents a bullish front as it bounces above the halfway line.
MACD: MACD and signal lines maintain a positive trend with rising bullish histograms.
Therefore, the momentum indicators display a bullish point of view.
Where is the Bitcoin Price Heading?
With multiple lower price rejection candles, the bullish breakout possibility increases for the Bitcoin price trend. Considering the range breakout rally surpasses the resistance trendline breakout, the BTC price can reach the $30,000 mark.
On the bottom side, a breakdown below $26,274 can lead to a nosedive to $25,600 or $24,900.
BTC Price Today: Trapped In The Longest Bear Market EVER, Will Bitcoin Bounce From $26K?
Bitcoin maintains silence over the radio with a sideways trend close to $26K following the sharp fall last week. With limited price movements, the BTC price trend reflects a trapped underlying momentum, which could lead to a sharp move on the breakout.
Despite the 2023 bull run, Bitcoin has yet to exceed 50% of its all-time high in the past 14 months. Facing enormous supply inflow above $30K, BTC price falls close to the $25K cushion and undergoes a silent trance.
The Longest Bear Cycle EVER!
Michaël van de Poppe, a full-time trader and an economics graduate, tweets his optimism on Bitcoin recovery in the longest bear cycle. With 490 days red, as per the Year-on-Year Change, Michaël points out multiple events that could trigger a bull market.
Events like Blackrock and Valkyrie have stakes in mining companies and multiple Bitcoin and Ethereum ETF applications. Even ETFs in Europe are going live, Hong Kong is opening for crypto, and Oman is investing more than a billion dollars in Bitcoin.
Bitcoin Price Analysis
At a discount of 18.49% from its recent swing high of $31,818, Bitcoin price currently trades at $29,935. Despite the recent week-long consolidation, the recent crash influences a bearish crossover in the 50 and 100-day EMA.
Moreover, the intraday fall of 0.53% ruins the short 0.31% recovery over the weekend.
The MACD and RSI indicators struggle to confirm any bullish crossover or a bullish spike with the intraday fall. However, a bounce back with lower price rejection will indeed turn the tables in a bullish favor.
Under consolidation, Bitcoin is in a no-trade zone but provides a buying opportunity with every dip closer to $25K. Moreover, with the deadlines for the Bitcoin ETF application of Blackrock and Grayscale’s $GBTC coming on September 1, the market anticipates a recovery.
However, it is possible the SEC will delay the ETF approval, leading to further consolidation.
In conclusion, buyers can find multiple entry spots despite the ongoing consolidation. However, the sellers might have to wait for the multi-contact zone breakdown at $25K, leading to a correction to $22K.
XRP among top 5 resilient bear market tokens with utilities.
Renowned crypto pundit and investor, Ran Neuner, has recently shared an insightful analysis of cryptocurrencies that he believes exhibit remarkable resilience during market downturns. Notably, Neuner has included Ripple’s XRP in his list of top five indispensable tokens in a bear market scenario.
Delve into the analysis here.
Neuner’s Method
Neuner’s approach to identifying resilient tokens involves a meticulous assessment process based on seven key questions. These questions revolve around factors such as the network effect, community authenticity, user base, decentralization, regulatory compliance, fee generation, and innovation.
His discerning attitude and meticulous evaluation process underscore the importance of thorough research before committing funds.
XRP Gets a Glowing Review!
In Neuner’s evaluation, XRP stands out for its strong network effect, genuine community, and substantial user base. The XRP token’s decentralization and ability to navigate regulatory uncertainties are critical factors that contribute to its positive ranking in Neuner’s assessment method. Although XRP’s concept may not be the newest, it compensates by excelling in all other aspects, solidifying its position as a pivotal player in the crypto space.
Related: XRP Price Might Surge To $3.5 – $10 Amidst Settlements, Relisting, and Ripple IPO
Binance Coin….. Not So Much
Neuner is not one to shy away from expressing concerns about specific cryptocurrencies. In his analysis of Binance Coin (BNB), for instance, he highlighted apprehensions regarding its decentralization and future regulatory interactions. Based on these concerns, Neuner chose not to invest in BNB, emphasizing the importance of thorough research before committing funds.
Cardano Remains Controversial
Neuner’s evaluation of Cardano (ADA) has sparked controversy, mainly due to his assertions about the token’s community and user base. Neuner urged crypto enthusiasts to have a clear understanding of their investment rationale, stressing the significance of looking beyond mere hype. This advice holds particular relevance given the surging popularity of Cardano and its potential implications for investors.
Read More: Cardano Price: Top Reasons Why ADA Price Will Start Outperforming Soon
Positive Outlook for Solana
Another cryptocurrency that received a favorable review from Neuner is Solana (SOL). Solana scored positively in terms of network effect, community strength, and user base. Despite regulatory uncertainties surrounding the token, its ability to generate fees makes it an attractive choice for potential investors.
Cardano Price Found Its Bear Market Bottom? Analyst Forecast Price Reversal Soon
The Cardano (ADA) has undeniably grown to a mature network with a market capitalization of $10 billion and over 4 million non-zero addresses. Despite the recent Cardano calls as unregistered securities by the United States Securities and Exchange Commission (SEC), the more than 22.79 billion staked ADA out of 45 billion in total supply speaks volumes on the network’s decentralization aspect.
As a result, most crypto analysts are bullish on the long-term success of the Cardano network amid mainstream blockchain adoption.
Moreover, the network’s DeFi ecosystem has been steadily increasing with the total value locked (TVL) at about $164.19 million, while its stablecoin’s market cap was around $14 million on Monday. With more than 51k daily active users, it is safe to say that the Cardano network is well slated for mainstream global adoption.
Cardano Price Analysis
The Cardano (ADA) price has technically been trapped in a macro bear market since September 2021. However, the ADA market has recorded diminishing losses YTD, which largely depicts a possible reversal ahead.
Moreover, after declining more than 64 percent during the first half of last year, ADA prices dropped approximately 2 percent YTD. With a possible double bottom on the daily and weekly charts, a popular analyst on TradingView Alan Santana expects the digital asset to rebound strongly towards its ATH.
In the long term, the analyst expects the ADA price to trade between $4.9 and $7.77 with possibility of rallying further.
“The really nice part is that this “long-term” is not that far because it is only less than two years away, which is actually pretty close,” the analyst concluded.
Bitcoin is Consolidating in a Very Important Region; Is a Bear Trap in Progress?
The bitcoin price remains within the same range after the bears drove the price back close to $30,500 level. The market sentiments for the star crypto have not been bearish, even though the SEC stated that the ETF filings are inadequate. However, the price is constantly failing to rise and reclaim levels above $30,800. Hence indicating the drop in the momentum of the Bitcoin bulls, due to which the price may remain under a deep consolidation for a long time.
The decline in the BTC price is attributed to the update coming from the SEC, which stated the ETF filings were inadequate in terms of clarity and completeness. Although the companies have refiled their applications, the price continues to remain consolidated. Presently, the BTC price is trading just below $30,500, with a drop of 1.25% in the past 24 hours, while the volume has witnessed a jump of 28.05%.
In the short term, the price is trading within a symmetric triangle and steadily approaching the apex of the consolidation. Due to a huge drop in volume, the volatility of the price has squeezed, and hence it may hover within a narrow range for some time. After reaching the apex, if the price triggers a bearish move and fails to hold $30,000 support levels, it may encounter downward pressure toward $28,700 or even reach $28,000.
Besides, a bullish breakout may lead the BTC price to initially soar above $31,000. A successful breakout above these levels will assist the price in leading the rally above $32,500 and may also test the levels at $34,000 too. Meanwhile, the price has not yet let out any strong signals that may help to speculate on a clear and decisive move in the coming days. Therefore, it is better to wait and closely observe the Bitcoin (BTC ) price pattern throughout the weekend to analyze the next plan of action.
Investors, Brace Yourselves: Jim Rogers Predicts Worst Bear Market In Decades
Renowned investor Jim Rogers, a veteran American bigshot who has worked closely with George Soros and co-founded Soros Fund Management, recently made a startling prediction about the future of the financial markets.
According to Rogers, the next bear market will be the most significant in the last 80 years, drawing parallels to the Great Financial Crisis of 2008 and foreseeing an even worse scenario.
Why does he say this? Is the situation really that grim? Let’s explore.
We Are Sitting On A Ticking Time Bomb
Rogers highlighted the mounting levels of debt within the global economic system as a crucial factor that will eventually trigger a severe bear market in risk assets. Comparing the current state of affairs to the 2008 crisis, he emphasized that the debt levels have skyrocketed since then, making the situation far more precarious.
“In 2008, we witnessed a substantial bear market due to excessive debt. Take a look at the world today, and you’ll see that debt has surged to unprecedented levels since then. It’s a simple statement to make: the next bear market will be the worst in my lifetime. The staggering increase in debt over the past 14 years is the reason behind it,” stated Rogers.
Has History Given Us A Warning?
Rogers also drew attention to the great inflationary crisis of 1980, recalling the substantial interest rates and treasury yields that were necessary to combat inflation at the time. He warns that a similar situation could be on the horizon for the market.
The concerns raised by Rogers extend across multiple markets, including property, stocks, bonds, and currencies. During the 1980s, interest rates on treasury bills reached staggering heights of over 21% during the last massive inflationary storm that struck the market.
“Over 21%, because the situation was out of control and we had to do something. We did, it killed inflation, but it wasn’t a lot of fun for a lot of people. So that’s what’s going to happen,” says Roger.
Fed Rate Hikes Loom
While the Federal Reserve Open Market Committee has temporarily paused interest rate hikes, providing some relief to the market, Rogers cautions that two more rate increases could be expected by the end of this year. This implies that the respite might only be temporary, and further adjustments in interest rates could have significant implications for the future of the financial markets.
Uwerx & Harmony Continue To Brush Off Bear Market, Buy Now!
Some crypto stocks continue to display resilience in the face of market downtrends. Uwerx and Harmony (ONE) have emerged as standout performers, defying the prevailing market sentiment and showcasing their growth potential.
Despite the bearish market trend, Uwerx and Harmony (ONE) have demonstrated a remarkable ability to maintain their momentum and brush off adverse market conditions.
As the market fluctuates, Uwerx and Harmony present an intriguing proposition for investors looking to navigate the cryptocurrency landscape.
Harmony (ONE): Resilient Token Showcasing Promising Growth Potential
Harmony (ONE) has emerged as a resilient token in the volatile crypto market, demonstrating its potential for substantial growth. As of the latest data, it is trading at $0.0107, with a trading volume of $19 million.
With a market capitalization of over $18 million, Harmony has positioned itself as a notable player in the cryptocurrency space. Its strong market presence is further supported by the growing adoption of its innovative blockchain solutions.
Market analysts and experts have expressed optimism about Harmony’s future performance. Considering its strong fundamentals, technological advancements, and expanding ecosystem, there is a positive sentiment that Harmony’s price may experience an upward trajectory in the coming months. While accurate price predictions are challenging, some analysts foresee it reaching $0.043 by the end of the year.
Harmony’s unique approach to sharding technology and its focus on providing fast and cost-effective blockchain solutions position it for further growth and adoption in the blockchain industry.
Investors looking for a cryptocurrency with potential upside and a promising roadmap should consider Harmony as part of their portfolio diversification strategy. Its resilience in the face of market downturns and its dedication to innovation make Harmony an intriguing cryptocurrency to watch closely in the coming months.
Uwerx (WERX): Defying Market Downtrends with Impressive Performance
Experience the future of freelancing with Uwerx, a cutting-edge platform reshaping how freelancers connect and thrive. With a focus on empowerment and fair compensation, Uwerx has been making significant strides toward revolutionizing the gig economy.
In contrast to platforms like Upwork and Fiverr, Uwerx boasts a low transaction fee of 1%. This provides freelancers and clients with a more cost-effective solution, further enhancing the platform’s appeal.
Uwerx has unveiled its innovative feature, the Uwerx Vault, allowing users to securely store their WERX tokens for varying durations. This concept, similar to staking, enables users to earn rewards based on platform variables, promoting engagement and participation.
Furthermore, Uwerx has plans to renounce its contracts once the project is ready to be launched on centralized exchanges. This move will reduce taxes to zero, ensuring a more favourable trading environment for users.
Also, Uwerx has undergone comprehensive audits by reputable firms such as SolidProof and InterFi Network, ensuring transparency and security for users.
In addition, Uwerx has recently unveiled the first version of its Alpha platform, providing users with a glimpse of its capabilities and functionalities.
With the completion of the Alpha platform, Uwerx is already working on developing the Beta platform. The transition from Alpha to Beta is imminent, promising even more exciting updates and improvements.
Also, Uwerx has successfully been listed on CoinSniper, expanding its reach and visibility. Additionally, it is set to be listed on Uniswap by August 1st, opening up opportunities for broader trading.
The platform has garnered significant attention, with over 6,953 sign-ups, 1,600 Twitter followers, and over 1,700 Telegram members. The community’s active engagement and support fuel the project’s momentum.
In exciting news, it has exciting plans for a Test Airdrop, scheduled at the end of the presale on July 31st. This initiative aims to reward early supporters and engage the community.
The project has taken a proactive step by locking its liquidity for an impressive 25-year period. Additionally, the Uwerx team’s tokens have been locked for 9 months, demonstrating their commitment to long-term growth.
Uwerx’s presale stages 1 to 4 were completed in record time, demonstrating the high demand and confidence in the project. Uwerx’s presale is currently in Stage 5, offering $0.041 per token with a 15% bonus on every purchase. This attractive pricing structure has garnered significant interest from investors.
In response to the rapid presale speed and community demands, the Uwerx team has made necessary modifications to token allocations, ensuring fairness and alignment with investor interests.
Also, after the presale, WERX holders can expect their tokens during a 6-week vesting period. This ensures a gradual distribution and encourages long-term commitment.
To get the latest updates about Uwerx, use the links below:
These 3 Coins Could Change The Bear Market Narrative
2023 got off to a great start, even better than most expected, especially after such a rough ending to 2022 with the FTX drama. When events like the FTX insolvency happen, people often imagine we’d see two to three years of crypto winter with significantly less volume. However, the market is already past that stage, and a bull run this year is already looking promising. Here are three cryptocurrencies that could lead the market into a bull season, and you should own one of them, especially Uwerx.
Shiba Inu(SHIB)
Shiba Inu(SHIB) is the second largest meme coin project, proving itself a top investment option. The meme coin has had some impressive runs and is still performing amongst other meme coins. Following recent price increases, the SHIB token is slightly green as it sees some minor gains. Shiba Inu is a meme coin, which means it is undervalued and easy to purchase. It is a low-cost token to have in your portfolio in 2023.
Filecoin(FIL)
Filecoin(FIL) had one of the biggest presales, raising over $52 million. Crypto is also one of the few alternative coins that have defied market sentiments over the past few days. Its trend has been more upward, and on the previous day, it reached a height of around $4.5. Despite the token’s 0.24% decline in the last hour, investors anticipate that there will be a change in the coming days.
Uwerx(WERX) Is A Must-Have Token In 2023
The freelance industry accommodates different categories of people. It is a diverse sector with loads of potential that are not restricted based on any factor, inclusive gender, location, age limit, and many more. About 32% of freelancers testify to starting freelancing while being students or shortly after graduating. The industry is preferred for its flexibility and the lack of restrictions on opportunities.
Uwerx is a new crypto project that aims to leverage blockchain technology to improve the efficiencies of this sector. The platform will offer more to freelancers, optimizing productivity and assisting them in earning more. Uwerx aims to be the future of freelancing, offering unique features like lower fees, global talent pools, and incentives and contributing to better efficiency.
Uwerx completed its audit in collaboration with SolidProof, and InterFi Network and is ready to be the biggest investment of 2023. Uwerx recently launched its Alpha version, allowing users to see what the platform is all about and sign up on the network. The Alpha version is a step closer to the network’s final launch and has gathered a lot of positive feedback so far.
Uwerx presale is on, and the WERX tokens are $0.041. The presale is on Stage 4 and comes with a 15% bonus on all purchases. Visit the links below to purchase your WERX tokens on presale.
The Bear Turning into a Bull by Chainlink, Cronos, Big Eyes Coin
Although we are still in progress through 2023, the crypto market has been hot and cold, bull and bear in recent months. Typically, May brings flowers, but this year adds bloom to the altcoin season. Good time to look forward to.
This article will examine Chainlink (LINK), Cronos (CRO), and Big Eyes Coin (BIG).
Chainlink (LINK): Living the Bullish Moment
Chainlink is a decentralised analytics service. It increases smart contract interconnectivity by providing intelligent agreements with dependable data feeds, APIs, payments, and other resources. Chainlink is essentially a bridge connecting the network and outside the chain systems.
Chainlink enables intelligent contracts to respond quickly to incidents in the real world and perform obligations that would otherwise require external proof of performance by granting them access to off-chain resources. Chainlink solutions are initially designed on the Ethereum blockchain, while the business plans to support other major innovative contractual chains in the future.
Chainlink has evolved beyond accumulating and distributing Bitcoin pricing data to protocols known as DeFi, such as Aave, too much more. Utilising 1,000 project combinations with 700 Oracle networks, the ecosystem has access to over 1 billion data points, securing over $75 billion in value.
However, one of the most significant victories for Chainlink has been the appointment of Eric Schmidt, ex-Google CEO and chairman, as an expert advisor to the Oracle network rules and regulations.
On the other hand, the project team has already established a testnet with seven working Chainlinks, letting developers communicate with the BraveNewCoin, CoinMarketCap, CryptoCompare, Kaiko, EasyPost, FlightStats, and Chainlink Alarm Clock APIs.Chainlink’s price analysis recently suggests a substantial return in the bull market following a dip. The market LINK started at $7.1776 and quickly surged to $7.26, a 1.02% rise.
Cronos CRO: Competing with or Becoming Ethereum?
Cronos was previously known as the Crypto.org Coin until being renamed Cronos in February of this year. Its price has risen fast, and the primary reason for this is the recent collaboration between the creators and AWS. AWS is Amazon’s cloud business and the industry’s most prominent participant.
It competes with Microsoft Azure and Google Cloud, among others. Cronos stated that the collaboration would make it simpler for programmers in the ecosystem to learn how to use Amazon’s cloud platform. Affiliates of the accelerator programme will also have access to these tools, with the winners earning $30,000 in cash to help them develop their apps.
Regardless of the good news, Cronos’ ecosystem has encountered challenges. Like other chains, it faces more incredible rivalry from layer 1 and 2 networks taking market share.
Ethereum, Avalanche, and Tron are the top-layer chains it competes with. As Ethereum is one of the biggest crypto coins, will Crono compete with it, or will it become a bigger one? Time will tell.
It’s Time to Go BIG with the Big Eyes Coin
Big Eyes Coin is a community coin aiming to increase wealth in the DeFi ecosystem while safeguarding an important global ecological feature. Community tokens provide considerable revenue for the community and businesses. Big Eyes Coin is an innovative meme coin that has taken over cryptocurrency.
The currency has acquired popularity because of its distinctive characteristics, such as an innovative staking mechanism that awards holders a share of the network’s transaction costs. The coin in question also has a large fan base excited over its possibility of overhauling the meme coin market. Of course, there’s more; $35 million has been raised since the Big Eyes Coin presale began.
While investors take advantage of this golden opportunity, you have until June 3rd to join before it closes. But hold on; there’s more. This is a generous cat with huge eyes and enormous promo coupons. Big Eyes Coin will offer you a 300% bonus if you use the fantastic promo code END300. Doesn’t it seem too wonderful to be true? To my delight, it is true, so what are you waiting for?
For more on Big Eyes Coin (BIG):
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
Twitter: https://twitter.com/BigEyesCoin
| Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. The image used in this article is for informational purposes only and is provided to us by a third party. Coinpedia should not be held responsible for image copyright issues. Contact us if you have any issues or concerns. Readers should do their own research before taking any actions related to the company. |
BTC Live News : Is Bitcoin About to Enter a Bear Market – Here’s What Glassnode Data Predicts
As the world’s most popular cryptocurrency, Bitcoin has been on a wild ride over the past few years. But now, experts are warning that a bear market could be on the horizon, and the culprit might be none other than the U.S. Dollar Index (DXY).
Glassnode, a company that analyzes cryptocurrency trends, has been closely monitoring the DXY’s recent fluctuations. Since January 2021, the DXY has been on the rise, and this could be bad news for risk assets like Bitcoin.
Opposite Directions: DXY and Bitcoin
The value of Bitcoin and the US dollar (measured by the DXY) have generally moved in opposite directions over the past three years. When the DXY goes down, it can have a big positive impact on risk assets like cryptocurrencies. However, when the DXY goes up, it can spell trouble for digital assets.
The DXY’s recent drop in September 2022 was a welcome relief, but it’s now expected to rise again in early May, before dropping drastically within the range of 105-107.
The DXY’s strength can greatly affect the global market, as it impacts other currencies as well. When the DXY goes up, commodities like gold and oil become more expensive for those who don’t use US dollars. This can lead investors to switch to other types of investments, including cryptocurrencies. Hence, digital assets are often seen as riskier, which means investors may sell them when the DXY is strong to lower their risk.
What Could Happen Next?
If the DXY does continue to rise, it could lead to a brief bear market for cryptocurrencies, including Bitcoin. This would be a significant setback for the cryptocurrency market as a whole. When the DXY gets stronger, investors may choose to put their money in the US dollar, which is generally considered to be safer. This makes it harder for people to want to invest in riskier assets like digital currencies.
As a cryptocurrency enthusiast and investor, it’s essential to keep a close eye on the DXY and other global economic indicators. While it’s impossible to predict exactly what will happen next, staying informed can help you make the best investment decisions for your portfolio.
Whales Flock To The Yachtify (YCHT) Presale While Axie Infinity (AXS) Goes Under Bear Control
With Axie Infinity (AXS) slowly losing investor interest as the metaverse currently leaves a lot to be desired, more investors and whales are fixated on Yachtify – a crypto newcomer presently in Stage One of its public presale! But what makes this presale sensation so desirable? Today, we will look closer and discover the answer to that question!
The Yachtify (YCHT) Presale Goes Scorching Hot
The yacht charter market is predicted to reach USD 26.5 billion by 2027, as per a recent Mordor Intelligence report. Yachtify plans to tap into this growing market by establishing a one-of-a-kind investment platform where users can purchase fractionalized NFTs backed by real-life high-end yachts, jet skis, and more!
Investors of all income brackets can buy and invest in these yachts simply by purchasing a token partially – for prices as low as $100! Also, when the real-world yacht gets rented out or sold, the net proceeds will be divided among token holders! This unique investment method will lower the entry bars for many investors, enabling them to generate passive income with just a partial NFT purchase!
Early investors in Yachtify will receive various discounts such as storage fees (50%), transaction fees (100%), and more – by holding more tokens; you receive more discounts. And with a value of just $0.10, buying one Yachtify token has never been more beneficial! But the presale is young, and more price hikes are coming, with some analysts even predicting a rise to $0.40 within Q4 of 2023 – so do not miss out!
To prevent rug-pull concerns, the Yachtify team will lock liquidity forever while sealing off team tokens for three years. InterFi Network has also completed an audit, and the team KYC audit was also finished – no scams present! Plus, to protect the token floor price and users, tokens will be airdropped over three months weekly after the presale.
Yachtify presents the most promising presale of 2023, with its solid fundamentals and room for growth; sign up now and take advantage!
Axie Infinity (AXS) In A Downfall
Axie Infinity (AXS) has seen better days, as it plummeted by 20% in the last two weeks. With a dropping player number, Axie Infinity (AXS) struggles to keep up with new crypto projects that present more real-world utility and upside potential.
Currently, Axie Infinity (AXS) has a value of $7.45 with a market cap of $865M, down 2.38% in the last 24 hours. Moreover, the trading volume for Axie Infinity (AXS) decreased by 2.61% in that same period, plummeting to $24,584,301.
Let’s look at the technical analysis for Axie Infinity (AXS). We can also see a bearish sentiment forming, with its technical indicators and moving averages displaying strong sell signals. Due to all these charts in the red, experts remain long-term bearish for Axie Infinity (AXS) as they claim it may fall to $7 by December 2023.
Website: https://yachtify.market/
Presale: https://buy.yachtify.market/login
Twitter: https://twitter.com/yachtify_market
Telegram: https://t.me/yachtify
| Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. The image used in this article is for informational purposes only and is provided to us by a third party. Coinpedia should not be held responsible for image copyright issues. Contact us if you have any issues or concerns. Readers should do their own research before taking any actions related to the company. |
Crypto Market Poised For 80% Upswing- Bear Market Relief Rally To Continue
Bitcoin and Ethereum prices are up more than 80% and 70% YTD respectively despite the drawbacks of the 2022 bear market. With the bulls on the upper ground, cryptocurrency traders anticipate more upsides in the coming weeks. However, some crypto experts warn the increased FOMO traders could push the market in the opposite direction.
Nevertheless, crypto investors have taken advantage of the bear market and stashed more coins. According to market intelligence platform Santiment, more than 45 million investors hold Bitcoin in their wallets. Interestingly, crypto investors holding between 100-1k Bitcoins have added more than 20k BTCs in the past few days.
Popper’s Bullish Thesis on Crypto Market
According to a crypto analyst with over 653k Twitter followers, Michael van de Poppe, the total crypto market capitalization is likely to break through $1.25 trillion in a similar manner Bitcoin rallied past $6k in 2019.
“Bear market relief rally then can continue to $1.65T (+30%) and in the best case towards $2.1-2.2T (+80%),” the analyst noted.
As the total crypto market capitalization fights a crucial resistance zone, Poppe is convinced Bitcoin price of $50k before the end of this quarter is possible. In this regard, the total crypto market capitalization will be approaching $3 trillion as more investors and crypto projects have since entered the industry.
Regulatory Pressures
The crypto market is expected to gain more traction as United States regulators push for regulatory clarity to attract more investors. Already, Coinbase Global with over $16 billion in market capitalization has hinted at moving to the United Kingdom and the European market due to regulatory scrutiny in the United States. During a Congress hearing on Tuesday, the SEC chair struggled to answer questions on whether Ethereum and XRP are securities or commodities.
Bitcoin Live News: Volatility Signals Historic Ending to BTC Bear Market
After posting choppy markets on Monday, Bitcoin had significantly stabilized during the early London trading session on Tuesday. Trading around $29,553, the largest digital asset continues to retest major resistance/support levels on the higher time frame.
Back in 2021 when the asset scaled to around $64k, the subsequent correction pushed Bitcoin price to around $29.5k. Last year around May when the asset retested the same level resulted in a capitulation fueled by the Terra Luna UST collapse.
Since the $29.5k support level was last year, this is the first time the top digital asset is retesting the same region. If the bulls sustain to push beyond this level, $40k and beyond will be the next target of most crypto analysts. On the other hand, a rejection at this level could push Bitcoin to new lows as macroeconomists forecast a mild recession in the second half of 2023.
Also Read: Bitcoin Winter Incoming? Should You Be Worried About the BTC Price Plunge?
Jason Pizzino Bullish Outlook via Volatility Check
In his latest YouTube video, popular macro analyst Jason Pizzino insisted that volatility is signaling a massive shift to the ending of the Bitcoin and S&P 500 bear market. Basically, Pizzino pointed out that every time the volatility dropped significantly on the higher time frame, the market reacted with a bullish outlook in the subsequent years.
Nonetheless, Pizzino noted that there will be ups and downs but the general outlook will be a bullish trend.
Also Read: Bitcoin Price Prediction 2023, 2024, 2025: Will BTC Price Mark New High’s In The Coming Days?
“Like I pointed out, there are going to be some ups and down just like we have had in history, say in 2004, there is still uncertainty in 2010, … but it’s at the beginning of those cycles that the uncertainties are there and will always be there as people decide what end of the spectrum they will be on,” Pizzino stated.
The analyst noted that Bitcoin remains in a bullish outlook as the United States dollar gets ditched by international trade operations. Meanwhile, the analyst insisted that the Bitcoin bullish case will be tested if the digital asset falls below the previous support level, around $26k.
The Bear Market is Officially Over-Bitcoin Price May Redominate the Rally to Mark New Highs
Bitcoin made a surprising jump beyond $28,200 during the past weekend and has elevated the entire crypto space. Although, the altcoins are following a lower pace, yet the momentum remains extremely high.
Hence, a larger price action may be fast approaching as the BTC price appears to have wanned the bearish influence with the latest move. However, the possibilities of a bearish pullback continue to flutter rising the possibility to retest the lower immediate support around $25,000.
The markets have turned green as the bulls have begun to utilize their accumulated strength and intensify the buying pressure. Therefore, a notable ascending trend is expected to prevail for a long time, which may help them fight the bearish interference. As predicted by one of the popular analysts, The Wolf of All Streets, the ‘bear market is officially over’ but a pullback may be imminent.
The analyst here says that Bitcoin made its first higher high, which is at $25,212 since its all-time high, which confirms a new bullish trend. However, the price may continue to remain under bullish influence depositing a pullback as it has confirmed a macro higher high which eliminates the bear market. Therefore, although the price drops back to test $25,212, the trend may remain bullish.
Presently, the Bitcoin price is trading at $28,251 with a jump of 4.06% in the past 24 hours and a massive jump in the trading volume of over 56%. Currently, the price appears to have cleared the crucial resistance at $28,154, but a retest may drag the price lower as the RSI is having difficulty entering the overbought zone. Hence, a notable pullback may drag the price lower by 4% to 5%, while the bears may continue to relax as the bulls have begun their play.
Crypto Whale Activity On The Rise: An Indicator Of A Bull Or Bear Market?
The cryptocurrency market has recorded heightened volatility in the past 24 hours with over $220 million liquidated. According to the latest crypto price oracles, the global digital asset market capitalization stands at approximately $1.06 trillion, after a 3.6 percent decline.
As fear of the United States Security and Exchange Commission (SEC) waging war on crypto staking programs increases, as predicted by Coinbase CEO Brian Armstrong, the liquid staking projects have recorded a sharp uptick in demand.
Notably, the SEC charged the Kraken cryptocurrency exchange for engaging in sales of unregistered securities through its staking-as-a-service program.
As a result, the liquid staking governance tokens market cap today is $4.78 Billion, up over 10 per cent in the past 24 hours. The spike in liquid staking tokens, however, comes at a time other digital assets like Bitcoin, Ethereum, and BNB have corrected nearly 6 percent in the same period.
Increased Whale Activity: A Warning Call?
According to on-chain analysis data provided by blockchain tracker platform Whale Alert, Circle’s USDC stablecoins have seen an uptick in minting in the past 24 hours. Notably, several transactions worth over $170 million have either been minted, burned, or transferred Circle to Coinbase.
An increase in stablecoins activity is largely related to either an upcoming bull or bear market, as they are mostly used in profit-taking. In the past 24 hours, a whale address account has been over $23 million worth of Polygon (MATIC). Meanwhile, Cardano (ADA) has been named the top most traded crypto asset by the top 100 BSC chain whales. Notably, Binance is the leading cryptocurrency exchange by daily traded volume, thus making its whale the most fierce in the industry.
Experts Predict Crypto Market Comeback: Is the Bear Market Finally Over?
The crypto market started the new year with a surge that not many saw coming. Bitcoin and Ether reached and breached some pretty impressive critical support levels. Excitement has washed over the crypto community as traders and investors rush to make the most out of the bullish action.
We Are in the Disbelief Phase
Some rejoice at the prolonged bear market finally coming to an end, however, many seem to be wary of the spike and seem to liken it to a bull trap. Several market experts have warned that the bear market is not yet over, making it clear that we’re now in what is known as the “Disbelief phase”.
At the time of writing this article, BTC is hovering around $22,650, having been up by nearly 10% in the previous seven days. At some point, the king coin even breached the $23k mark a few times and seems to have currently found support at $22,600.
As for Ether, it started out with a massive spike like Bitcoin’s. However, at the time of writing, it is currently in the red. Notably, the world’s largest altcoin has managed to maintain its spot at the $1,500 resistance level and is only down by 1.6% in the past week.
Despite the overall decent gains from the entire market, with the global crypto market cap going over $1 trillion for the first time in what feels like quite a long time, market experts like Toni Ghinea seem to think the rises are nothing but a bull trap.
Ghinea is still predicting a $600 Ether and BTC will fall back to $11k. According to the analyst, the bears will “wake up from hibernation” in March. On the other hand, popular analyst Michael van de Poppe believes that Ether will see an even more massive breakout towards the middle of the year.
He has said that:
“Some slow grind upwards and then one more sweep in the coming days and the correction should be over and we’ll continue the party.”
According to van de Poppe, Bitcoin could rally up to $35,000 and altcoins will spike up too. He did say, however, that the end of the year might be a bit hard, but he believes the market will quickly bounce back from it.
Can Solana (SOL) Rally Push Beyond Pre-FTX Levels or is It a Bear Trap?
Solana price has broken a three-week rising trend, thus questioning the momentum to push beyond pre-FTX levels. According to our latest crypto price oracles, Solana’s price has dropped approximately 5.4 percent in the past 24 hours to trade around $23.22 today. After rallying over 100 percent in the past three weeks, the Solana bears are slowly taking control.
Consequently, a possible retrace could push Solana’s price to around $15, where the digital asset may find temporary solace. Moreover, the 200 MA in 4-H has risen to this level. Additionally, the RSI shows an overbought asset with a falling divergence, which indicates an imminent price fall. Perhaps the asset is forming a head and shoulder on the lower time frames, which could lead to psychological sell pressure.
Whether the bulls defend the rising trend in the coming weeks or not, the ultimate decision is likely to be affected by the Bitcoin market sentiment. Moreover, the January 2023 cryptocurrency rally has significantly been affected by Bitcoin price.
Solana Fundamental Aspects Shows More Pain Ahead
The Solana ecosystem has grown to a top 20 project by market capitalization due to its huge backing from whale investors. However, the network activity has significantly declined in the past year fueled by the FTX collapse. According to statistics from the token terminal, as shown below, Solana’s weekly active users have been declining in each subsequent quarterly since 2022.
Additionally, the total value locked (TVL) in the Solana ecosystem has significantly reduced since late 2021. The Solana TVL has moved from over $11 billion to about $270 million today.
Nonetheless, the Solana developers are hard at work building DeFi projects to be shipped out through the Saga mobile App Store.
Bitcoin Price Lacks Momentum To Rally Beyond $21,500 – Is it a Bear Trap? Here is Up Close Analysis
Bitcoin price has experienced a strong resistance of around $21k after rallying over 28 percent in the past 14 days. Over $26.60 million has been liquidated in the Bitcoin market during the past 24 hours and more coins observed leaving centralized exchanges. Market analysts believe the Bitcoin market is preparing to enter a correction phase after posting significant gains in the past few weeks. Moreover, meme coins – led by Shiba Inu and Dogecoin – have begun rallying, which is seen as the end of a crypto cycle.
However, all attention is on the pennant symmetrical triangle forming on the lower time intervals. Any strong breakout on either trend line of the pennant triangle will be used to extrapolate the next phase. For instance, should Bitcoin price rally beyond $21,500, and have a solid daily bar, traders will take it as a price continuation.
On the other hand, should Bitcoin price close the next few days below $21k, crypto traders will pick a correction in the making.
However, short-term traders should be aware of long daily winks that can stop hunts in either direction. Moreover, the cryptocurrency market is attributed to high volatility even in smaller time frames.
From the RSI indicator’s viewpoint on the smaller time frames, Bitcoin price could be preparing to reverse at current levels. Notably, while the Bitcoin pennant flag is on a rising trend, the RSI indicates overbought and a falling divergence.
On-chain data, however, indicates the Bitcoin price is responding to the open futures market that has recorded high liquidations in the last few weeks. Furthermore, the crypto sell pressure could significantly increase once FTX officials dump the $5 billion digital assets.
Here’s Why FTX’s Asset Liquidation Could Trigger Massive Bear Market
The FTX and Alameda’s investigation continue to uncover nasty activities in the cryptocurrency market. While FTX officials purport to have identified about $5 billion worth of FTX digital assets, Cinneamhain Ventures partner, Adam Cochran highlighted that only $600 million of the identified assets are liquid.
Among the identified liquid assets belonging to FTX include Bitcoin (BTC) worth approximately $268 million, Ethereum (ETH) worth about $90 million, and stablecoins worth around $245 million.
According to Cochran, the rest of the identified assets are likely to trigger a major bear market including Solana (SOL) worth about $685 million.
The Solana market has added more than 100 percent in the past few weeks, mostly fueled by liquidation according to the on-chain intelligence platform Glassnode. For instance, over $2.5 million in the Solana market has been rekt in the past 24 hours according to aggregate data provided by Coinglass.
“So liquidators were counting token prices on the day of filing, and consider the $529M of FTT to be “liquid” in this calculation, as well as $685M of Solana which would mega nuke the SOL market,” Cochran noted.
Notably, former FTX and Alameda officials have been accused of squandering customers’ funds in luxurious lifestyles including formula one races, political donations, and high-end parties.
As such, FTX creditors would have to wait years before investigations are completed and funds fully recovered. Moreover, FTX CEO John J. Ray III has indicated that he does not have access including security keys to several crypto wallets belonging to the bankrupt exchange.
However, Ray indicated that the $5 billion identified digital assets will be liquidated to repay creditors and FTX traders, who are difficult to identify.
Dogecoin Rising Trajectory: Legitimate Trend Change Or Bear Trap? Where DOGE Price is Heading?
Dogecoin’s price has been on a rising trajectory since Elon Musk acquired Twitter Inc. for $44 billion late last year. From a daily and weekly chart, the Dogecoin price has formed a falling wedge, which usually signals that the trend will resume later on. As such, market analysts believe the meme lord could rally beyond its October highs of about $0.159 soon.
The rising narrative is backed by the 200W MA, which has supported the price in the past two days. Moreover, the Dogecoin price already broke out of the multi-week falling trend and is now retesting the trend line as a support level.
However, the narrative could be invalidated should the Dogecoin price fall below the trend line support, which would then act as a resistance level once again.
According to our latest crypto price oracles, Dogecoin has gained approximately 18 percent in the past 14 days to trade around $0.084497. The ninth-largest digital asset takes pride in a market capitalization of approximately $11,649,383,387 and a 24-hour trading volume of about $526,969,058. Notably, Dogecoin has recorded total liquidation of approximately $1.61 million in the past 24 hours according to aggregate data provided by Coinglass.
According to several crypto analysts, the next probable trend in Dogecoin is a multi-week consolidation before the next bull market takes place. Furthermore, in the past two bear markets that Dogecoin has existed, first between 2014-2017 and second between 2018-2020, consolidation has taken place in multi-quarter before going parabolic.
As the second largest proof-of-work (PoW) digital asset, Dogecoin has attracted investors from all over the world. According to on-chain data from Tokenview, Dogecoin has about 5,173,869 holders and a total hash rate of approximately 630.95 (TH/s).
Cardano Price Trapped in Multi-Week Bear Market – Is the Bottom Close?
The Cardano (ADA) price has been on a free fall since its ATH, $3.09, in August 2021. The eighth largest digital asset by market cap is, however, indicating a possibility of reversal supported by fundamental and technical standpoints. For instance, the weekly RSI indicates the digital asset is largely oversold, even below the 2018 bear market. Additionally, the ADA price is retesting a resistance trend line formed in the past year.
Notably, should Cardano’s price rally beyond current levels of about $0.34, the multi-week bear market will be invalidated. However, a strong rebound from the upper trend line, resistance level, could mean the bottom is not yet achieved.
As with the rest of the altcoins industry, the Cardano price may be waiting for the Bitcoin price to comfortably trade above $21k to invalidate the 2022 bear market. Meanwhile, trading on ADA continues with about $841k liquidated in the past 24 hours according to Coinglass.
Nonetheless, Cardano developers continue to build scalable, secure, and affordable decentralized applications (Dapps). According to data provided by defillama, the total value locked (TVL) in the Cardano ecosystem is about $71.49 million. However, Cardano’s TVL is menial compared to Polygon (MATIC) with over $1.15 billion.
Some of the top DeFi projects that have bolstered ADA prices in the past include DEXes like Minswap, WingRiders, SundaeSwap, and MuesliSwap.
Notably, Cardano’s price has gained approximately 39 percent in the past fourteen days, a rally that began thirty days ago. The decentralized third-generation proof-of-stake blockchain has attracted global users due to its ability to morph with real-world utility. For instance, the Cardano team has been enhancing its smart contract capabilities since the Alonzo hard fork.
Will Genesis Become the Catalyst for the Bitcoin Bear Market Lows?
Bitcoin price has been facing constant rejection at $17,000 and finely dropped heavily to hover around $16,500 in the past few days. While the possibility of a bullish close has evaporated to some extent, the upcoming days may also not offer any relief for the crypto space.
The markets have been a victim of constant negative events that compelled BTC prices to test new lows. However, before the bearish markets wind up completely, here’s when the last leg could be pulled down to mark the bottoms of the bear market.
The FTX-contagion has been spreading! Undoubtedly, the impact has not surfaced as of now but is expected to intensify very soon. The top exposed platforms of FTX collapse were BlockFi and Genesis. Now that BlockFi has filed for bankruptcy, the next could be Genesis which is speculated to file somewhere in January.
As per a popular analyst, Bob Loukas, Genesis may file bankruptcy protection in early January which may be the catalyst for the Bitcoin bear market lows.
The analyst here believes that the BTC price has completely decoupled, while the DCG & Genesis issues are yet to be resolved. Hence, before the 4-year cycle ends, the ‘cleansing’ may happen. Further, he says that the institutions are responsible for the bearish market trends which are prevailed for a long. He also suggested keeping stacking while these institutions continue to liquidate.
“I see major confluence in the Cycles. Day 50 here of a 60-day cycle. The Weekly Cycle is due a low, as of course is the 4-yr Cycle. I’m looking to add my final tranche early Jan, essentially completing buying back bitcoin with the proceeds of sales during the bull phase,”
Altcoins to Watch Out as the Crypto Space Approaches the Pinnacle of Bear Market!
Dogecoin (DOGE)
Dogecoin price remained largely bearish throughout the year 2022 and spike high suddenly after it received huge buying volume in the first few days of November. The price which maintained a stagnant trend for more than 4 months, spiked by more than 150% in just a couple of days.
Undoubtedly, the price has almost halved since then but keeps up the bullish momentum. The DOGE price has raised the lower support levels and attempting a rebound and with a successful flip, the price may rise high in Q1 2023.
Shiba INU(SHIB)
Shiba INU dropped by nearly 75% since the beginning of the yearly trade and presently maintaining a steep bearish trend. Presently, the price is testing the levels pretty closer to the June support levels and hence assumed to ignite a rebound very soon. As the volume has been hampered to a large extent, the bearish consolidation may prevail for a long which may end up in a giant move toward the north very soon.
Cardano(ADA)
Cardano price is hovering along the crucial area to hold and attempting very hard to trigger a rebound. However, after a brief consolidation, the price may begin with a brief uptick but slowly yet steadily. The pace may be lowered and hence it may consume more time than required. The price may reach the bottom in the first few days of 2023 and after a minor consolidation could rise high during the rest of 2023.
Polygon(MATIC)
Polygon price appears to be the most promising token in 2023 which may incur huge profits in 2023. The price has been largely bullish despite the FTX debacle slashing most of the crypto price heavily. In the upcoming days, the MATIC price is expected to regain strength and reach beyond $1 very quickly. However, the bears appear to remain a little aloof and hence the bulls could continue rising high in 2023.
Ripple(XRP)
Ripple price is the most awaited rally in 2023. The Ripple vs SEC lawsuit is expected to settle during Q1 2023, post to which giant price action is believed to occur. The possibilities of the exchanges relisting the token emerge which may create a FOMO among the market participants. Eventually, the XRP price is believed to regain $1 in a very small time frame and further continue raising high in the coming days.
Quant(QNT)
The Quant price maintained a magnificent rally regardless of the current market trends which were in favor of the bears. However, the FTX collapse hindered the price rally and slashed the price by more than 56% in a very less time frame. Presently, the price has halted the bearish trend and consolidating within a very narrow range, hence, displaying a huge chance of a bullish breakout very soon.
Litecoin(LTC)
Litecoin is considered one of the most undermined tokens which share almost an equal trading history to Bitcoin. The token began as a lighter version of Bitcoin and as the team behind the project remain passive, the price was also impacted in a similar way. Moreover, when the CEO is back in action now, a healthy upswing may be imminent.
Polkadot(DOT)
The Polkadot platform is largely known for its strong fundamentals. The diverse blockchain architecture enables the token to stand apart from the crowd. The concept of parachains has been a huge advantage of the platform which may assist the price rally in the coming days. Meanwhile, the price which is trading at the lowest ever possible levels may rise high and resume with a healthy uptrend very soon.
Chainlink(LINK)
Chainlink which is also called as the Oracle of the networks has just began to ignite a signiifant recovery phase. The spike may be not be at par but the asset appear to be quiet strong enough to undertake a gigantic rally very soon. Meanwhile, the price which is stuck up within a range may soon undergo a notable breakout in the coming days.
Bitcoin Will Have Longest Bear Market in the History If BTC Price Plunge Below this Level
Since the beginning of its existence, Bitcoin has been roundly criticized for the extreme volatility and risky character of its market. However, recent occurrences in the cryptocurrency space seem to lend credence to the aforementioned worries.
Bitcoin’s value has decreased by 3.8% in the last twenty-four hours, bringing it down to $17,400 at the time of this writing. In spite of the fact that 2018 was a difficult year for the vast majority of the cryptocurrency market, there does not appear to be a shortage of believers that 2023 will offer a chance for recovery. This was demonstrated by a poll conducted by the renowned cryptocurrency analytics platform CoinMarketCap.
At the time of publication, the results are overwhelmingly optimistic, with 83.2% of respondents indicating a bullish outlook for the next year on the cryptocurrency markets, according to data obtained by Coinpedia on December 15. On the opposing side, 16.89% of voters are bearish about the future market conditions in 2023.
Benjamin Cowen, a cryptocurrency analyst who is also the founder of the well-known Into the Cryptoverse newsletter, recently sent a Bitcoin analysis video to roughly 800 thousand of his subscribers. In the video, he compared several Bitcoin bear markets.
The Bear Market Cycle Peak ROI is a helpful indicator that can be used to detect capitulation levels of the current cycle in bear markets. Analysts evaluate the extent of the market’s current losses by evaluating the Return on Investments from the top of the current cycle. The current bear market is in the green line.
According to the analyst, if April is regarded as the peak for BTC, then this bear market has been going on for 401 days, which is quite long and makes it the second-longest BTC bear market in the history of cryptocurrency.
The one that lasted from November 2013 all the way through January 2014, a total of 406 days, was the longest. That is to say, if Bitcoin (BTC) does make a new bottom in the next five days or more, it will break the record and become the longest bear market in the history of Bitcoin.
According to Cowen, there are a lot of reasons to believe there won’t be a new bottom, but there are also a lot of reasons to believe there will.
He went on to say that even if the BTC has reached the bottom, this does not indicate that the bear market is about to end.
Cowen believes that things will begin to turn around and become neutral sometime in 2023 and that as the halving approaches, we will begin to see some strong bullish signals.
What Can You Expect From BTC in the Coming Weekend?
Goldman Sachs opines that Bitcoin’s present value is driven by the breadth of its potential future use cases, making it both extremely volatile and a solution in search of a problem.
BTC’s recent price surge is an encouraging indicator of market demand. This is particularly true now that BTC has recovered from its plunge from $20,000 to $15,600 after the FTX crash and is trading at $17,600, just marginally higher than its June low.
RankerDao Launches NFT Badges, Allowing Users To Earn Money In a Bear Market
A new intersection of gaming & crypto is getting momentum across the world, where gamers are now finally rewarded for their skills.
The success of Axie Infinity & emergence of Games has shown us how Web3 is disrupting the gaming industry, also impacting millions of gamers to earn by playing games & having fun.
What is Ranker Dao?
RankerDAO has announced the launch of its all-new NFT Badge series, allowing users to earn money in the bear market.
RankerDAO is a decentralized autonomous organization that enables the collective community of crypto adopters to earn money by playing games.
The whitelist badges give players the chance to participate in and earn from RankerDAO’s upcoming IGOs,
while the gaming badge allows players to apply for scholarships, take part in giveaways, and request new games to be added to the NFT collection. RankerDAO also offers exclusive coaching for its members and access to its inventory of NFTs.
How can you earn money?
You can enjoy their Inventory of NFTs and participate in upcoming IGO or exclusive community events, tournaments, coaching sessions, and much more by becoming a RankerDAO Badge holder.
There are two types of RankerDAO Badges that you can own
RankerDAO Gaming Badge
RankerDAO Gaming Badge is your All-in-one ticket to P2E and will bring you more fun, more games, and more tournaments.
Their super-intelligent team will help you level up & sharpen your gaming skills by bringing the next generation of tutorials designed specifically for P2E games to help you excel.
So you can Rip through levels in any game like a pro! While having a lot of fun.
- Apply for scholarships
- Participate in exclusive giveaways
- Request any game you wish to be added to their NFT collection
RankerDAO Whitelist Badge
With the RankerDAO whitelist badge, you’ll be the first to experience new games & get a chance to get Investment slots in their Upcoming IGOs.
Their super-intelligent team analyses every aspect of a game in-depth before bringing it to you.
With True In-Depth Research, they’re ready to support upcoming AAA games to accelerate through the Gamefi landscape.
- Participate in upcoming IGOs backed by True In-Depth research
- Get First-hand experience with RankerDAOs partner games
If you need any assistance please join their Discord server and their team will be happy to help.
Get Connected
Website: https://www.RankerDAO.com
Medium: https://www.medium.com/@RankerDAO
Discord: https://discord.gg/RankerDAO