Bitcoin Investors Brace for Potential Long Liquidations : Here’s What Next For BTC Price !
Bitcoin volatility has dwindled in the past four days after hitting a new high of around $28.6k. Trading around $28.3k on Wednesday, analysts forecast a spike in volatility in the next few hours as the Federal Open Market Committee (FOMC) prepares to release the third interest rates update of the year.
With the increased risk of more bank runs, bank depositors have significantly reduced as the demand for Bitcoin rises among investors.
As a result, Bitcoin traders anticipate the price to jump to around $30k before retesting lower prices.
Meanwhile, large-cap altcoins, including Ripple-backed XRP and Cardano’s (ADA), have gained traction in the past 24 hours. According to our latest crypto price oracles, XRP and ADA are up approximately 16 and 10 per cent in the past 24 hours, respectively.
Analysts on Bitcoin Price Amid FOMC Statement
High-impact news like the CPI and the FOMC statement on interest rates have greatly influenced Bitcoin’s volatility in the past. As such, economists and market analysts have been studying the correlation and giving market forecasts amid such highly impactful news.
According to popular crypto trader @CryptoTony, Bitcoin price will trend sideways until the FOMC statement. Afterwards, the trader thinks the Bitcoin price could spike to $30k before retracting.
“No doubt we will trend sideways until the meeting, which means tread cautiously. My main play is to take profit at $30,000 if it comes,” the trader highlighted.
Similarly, crypto trader Michael van de Poppe indicated that Bitcoin would spike to $28.7k before entering a consolidation level.
Meanwhile, a market commentator with a Twitter name @tedtalkmacro highlighted several scenarios for Bitcoin depending on how the Fed interest rates come in.
Shiba INU Price on the Long Run: Need to Achieve These Levels to Keep Up Bullish Momentum!
The Shiba INU price has been trading within a downward channel ever since it failed to surpass the interim resistance at $0.00001133. The descending trend which is seen in most of the altcoins is a result of the rising dominance of the star crypto, Bitcoin. Besides, the beta launch of the much-awaited Shibarium has also been delayed, which has also cooled down the hype surrounding the project.
Despite the chaos around the project, the whales appear to be pretty confident about the upcoming swing. As per the reports from Whalestats, a couple of whales have accumulated massive amounts of SHIB tokens in a single transaction. Two of the high-profile ETH whales have accumulated more than $10.8 million.
The top 100 whales have collectively held Shiba INU worth $606 million, followed by MATIC worth $166.8 million, BEST worth $155.9 million, and Chainlink worth $146.4 million. Although the bullish momentum has accumulated, the SHIB price must reach these levels to keep up the bullish momentum.
The SHIB price is currently ranging around $0.00001082 but continues to remain within a descending parallel channel that ignited in early February. The token, however, has not managed to break above the channel, which may require it to move above $0.000011. To do so, the SHIB price is required to rise above the 200-day EMA levels, which were previously breached by the bulls during the first fortnight of 2023.
The price, however, managed to break the 200-day EMA and plunged during the first few days of the month. Presently, the 200-day EMA is at $0.00001171, which can be considered the most important level to confirm with a breakout from the descending trend channel. Beyond these levels, a notable upswing may be confirmed that may rise the levels beyond $0.000012 in the coming days.
Why Do Investors Suggest This Coin For Long Term Investments
AlienFi is a decentralized exchange (DEX) based on the Arbitrum Chain that offers rapid, secure, and low-cost token trading with complete transparency and complete management of your cash. AlienFi’s elegant and user-friendly platform facilitates the trade of DeFi assets by its users. AlienFi removes the possibility of hacking and theft, allowing users to keep complete control over their cash in a quick, inexpensive, and safe manner. AlienFi brings a never-before-seen degree of trust and efficiency to the DeFi industry, hence creating a pleasant and confident atmosphere for the new investors.
Trading on AlienFi
The method of trading on AlienFi is one that is decentralized and automated, and it takes place on the Arbitrum Chain. AlienFi is a decentralized exchange (DEX), which means that it offers its customers a trading experience that is both safe and open.
Users are able to engage in trade in a quick and effective manner using AlienFi. Trade occurs on AlienFi via the use of smart contracts, which automatically carry out deals in accordance with the parameters that are established by the users. Because of this, there is no longer a need for middlemen, which makes the procedure not only quicker but also cheaper and more secure.
AlienFi Swap
By the use of our automated liquidity pools, the AlienFi Swap platform facilitates an exchange of one ERC-20 token for another in a method that is user-friendly, cost-effective, quick, and safe. With AlienFi, you will be able to do business with confidence, knowing that you are in charge of your possessions and that your financial dealings are safe.
On AlienFi, every swap has a default transaction deadline of twenty minutes, which was implemented for safety reasons. It indicates that if your swap has been waiting for confirmation on the blockchain for twenty minutes, then it will fail since the time limit has been reached. On the settings for the Swap page, you have the ability to modify this time limit to better suit your needs.
AlienFi has a mode called Expert Mode for its more experienced customers. This mode permits high-slippage trades and suppresses the prompt that asks you to confirm transactions. As a result, swaps are completed far more quickly. You are able to transfer the tokens that you are trading to an address that is not your own while you are using the Expert Mode.
AlienFi Liquidity
To put it simple words, the capacity of an asset to be sold or traded is what is meant by “liquidity” in the context of derivative financial instruments. A pair of digital assets that have been combined in order to make trading possible on a decentralized exchange (DEX) such as AlienFi is referred to as a liquidity pool.
Liquidity is an essential component for maintaining a robust ecosystem on AlienFi, which is why it is one of the platform’s core values. As a result of an increase in the liquidity that is made accessible on the AlienFi platform, a higher number of users will have the capability to trade a greater quantity of their preferred tokens without experiencing any difficulties.
According to what is said in Alien Swap, users that increase liquidity on the AlienFi platform are rewarded with certain trading fees, which other users pay when they trade their tokens.
Staking on AlienFi
The purpose of AlienFi Yield Farms is to encourage users to create liquidity for their favourite token pair. Investors that supply liquidity are rewarded with LP tokens in exchange for their contributions. Investors may stake their LP tokens in AlienFi Yield Farms to earn extra $ALIEN tokens in addition to the trading fee in exchange for the LP tokens that generate trading fees for that particular pair.
To acquire extra tokens, you may stake $ALIEN tokens in staking pools. Depending on the pool in which you have a stake, the prize token may be $ALIEN or another partner’s token. Staking is a straightforward and convenient method to increase your revenue stream, regardless of whether you acquired your $ALIEN tokens via yield farming or bought them.
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Bitcoin to Rise by 10% Soon-Here’s When You Can Long on BTC!
Bitcoin price yet after hitting $25,000, dropped and faced a huge rejection resulting in a pullback of more than 2%-3% at the moment. The seeking pressure has mounted for the second consecutive day due to which the price may continue to drop for some more time ahead. However, after a brief pullback, the token is believed to ignite a firm upswing soon, and hence here’s where you can long on Bitcoin.
The BTC price is appearing extremely strong nowadays as the bulls are constantly outpouring the bears. The token has now begun to trade within an ascending triangle which appears to be in a significant swing low position. Further, below this position, there is a huge gap which is very positive for a long trade.
One of the well-known analysts, Tolberti believes that the price may drop still harder to reach the lower support that could be just below $24,000 and rebound finely to reach levels beyond $26,000. Hence says that the Bitcoin price may soon encounter a good entry to place a long trade as the price is primed for a more than 10% upswing very soon.
Furthermore, the analyst also believes that the BTC price needs to reach the range between $28,000 to $30,000 in the immediate short term to prevent the possibility of rejection. The above chart displays the BTC price to be trading within an ascending triangle and hence the price may also vary accordingly.
Also, from the Eliiot wave perspective, the price has been moving a 5-wave impulse to the upside and 3-wave corrections, downwards. Therefore, the next impulse wave may head toward the north provided the price marks the end of the bearish wave to ignite a rebound.
Cheelee Is What the Crypto Market Needs to Get Out of the Long Winter
2022 has become a difficult year for the cryptocurrency market and will be remembered for a number of negative events: the crypto winter`s onset, one of the world’s largest crypto exchanges FTX collapse and regulators` suffocating embrace that followed this disaster. Despite the recent positive movements in BTC price, there are still no fundamental reasons for a new bull run. One thing is clear: today the crypto market is in desperate need of fundamental projects that will pull it out of crypto winter. And perhaps most promising is the Cheelee project, which occupies the first place in the Bitcoinist`s rating of NFT and GamiFi projects for 2023.
Conceptually, no new products appeared in the crypto space over the past year, but the existing ones began to receive practical application. One of the interesting trends was implementing NFTs on social media platforms, such as Twitter, Reddit, OnlyFans and VK.
However, none of these Web2 era giants has made a full-fledged implementation of decentralized technologies. And this is understandable: a huge, well-established project is not so easy to transfer to a new track. Today, this completely new and unoccupied niche is being prepared for the Cheelee project which aims to become the new TikTok based on completely new principles. They allow not only earning on the audience’s attention, as it happens everywhere. Cheelee`s main feature is that they pay viewers for their attention.
If Cheelee succeeds, the cryptocurrency market is in for a real boom, as the project targets a multibillion-dollar audience of social media users. Just think that all these people will be involved in the world of cryptocurrencies. This will inevitably lead to mass adoption, which has been talked about in space for so many years. And Cheelee is confidently moving towards success under the guidance of an experienced team, whose portfolio already includes the case of launching Nutson social network with more than a million audience.
Venture Investments amid the Crypto Winter
In 2022, VCs have invested over $30 billion in crypto and blockchain startups. In Q4, Cheelee reported a $22.45 million investment raising, announcing that as early as this winter, users will be able to download its app from the App Store and Google Play. Cheelee was supported by VC Sila and Veligera with $8M in equity investments; 6 VC funds invested $3.45M in token allocation, and the company’s founders put $11M to launch the project ($22.45M total).
The project is also promoted by numerous crypto market experts: Binance NFT Director Ryan Horn, BlockRock Capital and BlockGeeks co-founder Vladislav Martynov, Polygon Technology Senior Product Marketing Manager Siva Sagiraju, USA TODAY Leading Blockchain Expert Evan Lutra and famous YouTube blogger Wise Advice.
Why Cheelee Is What Will Blow up the Crypto Market?
Cheelee catches on the super-popular Play-to-Earn trend which in just two years has set the tone for the entire gaming industry. Now, while playing games, you can receive not only virtual, but also quite real rewards. In some low-income countries, lots of people have already started earning more money in games than in their main jobs.
However, back then the blockchain games audience was represented mainly by the crypto users (320 million). After the Cheelee`s launch it will expand to the social networks audience size (4.6 billion). That is why Cheelee is the first blockchain project originally designed for mass adoption.
Solving the Attention Deficit Problem
Cheelee is a GameFi short video platform with Watch&Earn mechanics that pays all users for watching the feed. Its team is convinced that people should earn in socials regardless of their followers number. This concept is based on the philosophy of the attention economy.
Today’s video platforms explosive growth has inspired a continuous battle between bloggers competing for the viewer’s attention. The volume of video content is getting harder and harder to follow. This leads to the law formulated by Herbert Simon half a century ago: the rapid growth of the information`s amount causes a deficit of attention.
Cheelee was the first to understand that part of the earned funds must be given to users, thus motivating them to focus on this particular platform`s content.
What Does Earning in Cheelee Looks Like?
To be rewarded for viewing the app’s smart feed, users need special glasses, which are non-fungible tokens (NFTs). It’s important that they receive 1st-level glasses immediately after registration which means that everyone can earn in Cheelee without investments. Just watch the feed and get a box with remuneration for every hour of viewing. To earn more, you can buy higher status glasses and upgrade them during the gaming process.
People need to view the content personally, with no help from software tricks. The platform is equipped with an anti-fraud system detecting bots, farms and cheats thus protecting Cheelee from liquidity drain.
Of course, there is a wide range of opportunities for content creators in Cheelee, and given that it’s in its early stages, they can quickly take off here, as it was in all well-known social media in the early years of their existence.
Why Does Cheelee Come to Stay?
One of Cheelee`s main advantages is the stability of its financial system. Up to 40% of its income is provided by additional sources not related to NFT sale: advertising, in-game purchases, and brand collaboration. For comparison, in alternative projects these sources reach a maximum of 1%. Cheelee also has a stability fund accumulating 70% of income from ad revenue and in-app purchases, as well as 100% of NFT sales and in-app transaction fees.
Cheelee also has well-thought-out mechanics to support the price of its two tokens. The limited release and increasing mining difficulty of the LEE in-game utility token is driving its price up and attracting holders. CHEEL is the second platform token which will be listed on exchanges. It allows increasing the NFT glasses level, and is also required to vote for the introduction of new app`s features according to the DAO principle.
Investment funds and team tokens are frozen for two years. It means that at the time of the project`s active growth there will be no tokens in free circulation. The only exception is a community drop (also locked for 12 months) and 3% TGE. This means that CHEEL is immune to panic sellings as well as pressure from funds and investors.
Conclusion
TikTok is estimated to have a market value of $500 billion. Now imagine what would happen if this platform added the functionality of monetizing the time spent watching the feed for users. And that’s exactly what Cheelee does. So even assuming Cheelee’s upside potential is only ⅕ of TikTok`s value, that would be at least $100 billion and CHEEL’s price would rise over 1,000 times in the foreseeable future. At the same time, let’s take into account that the real benefit for users on this platform is incomparably higher than that of TikTok, which means that Cheelee could potentially grow to a much larger size than the Chinese giant.
To date, Cheelee has attracted over 150,000 followers to its community, and surely this is just the beginning. The platform’s launch marketing campaign budget exceeds $30 million, and the entire Cheelee community is waiting for the CHEEL token listing. In the coming years, projects like Cheelee would not seem to appear, since it took the team more than three years to develop the application. Therefore, if you want your time and attention to be appreciated, you should definitely turn your gaze to this platform.
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Delaware Court Releases A Long List of Institutional Investors that Credited FTX
The FTX and Alameda implosion, which has been described as the fastest big corporate failure in American history, affected international government agencies, media corporations, airlines, and manufacturing companies, among many others. Judge John Dorsey, who is overseeing the bankruptcy proceedings, allowed the FTX lawyers to publish a list of institutional investors that credited money to the failed crypto exchange.
Some of the notable names include Mercedes Benz, American Airlines, Bloomberg Finance, Binance, Coinbase Global, and Microsoft among others. However, the Judge allowed the names of the FTX individual creditors to remain sealed for another three months, as more hearings take place.
Notably, the long list of FTX institutional creditors does not include the amount of capital invested. However, it can be assumed to cumulatively be in billions of dollars, with the top 50 creditors claiming about $3.1 billion. With the list containing 116 pages, hundreds of institutional investors are looking at John J Ray III and SBF to produce much-needed answers.
FTX Messed Up Big Time
The FTX collapse has instilled a lot of fear in centralized crypto exchanges and also reduced cash inflows in the blockchain industry. The FTX case has been complicated by the fact that SBF donated millions of dollars to U.S. politicians on both sides of the aisle. Nonetheless, millions of FTX individuals-creditors and institutional investors are wailing for Justice.
However, the investigators have a challenging time recovering all the FTX assets. Moreover, John Ray has indicated in previous hearings that there is a possibility that some FTX crypto wallets are still missing and may never be recovered.
As such, the crypto market is expected to receive clamouring regulations as lawmakers around the world try to contain greed.
How Long Will Bitcoin (BTC) Survive the Genesis Bankruptcy Filing?
The bullish start for 2023 had set aside the turmoil that Genesis was facing since the collapse of the FTX exchange. Market participants were quite confident that the bearish influence had wanned to a large extent. However, as soon as the rounds of Genesis filing for bankruptcy hovered, the markets began to compress and traded within a very narrow range, but held within the bullish regions.
Bitcoin price which surged close to $21,000, is trading close to the crucial support at $20,800. It has been able to hold these levels withstanding the bearish pressures. The trading volume has dropped heavily by more than 20%. As the prices have been trading slightly lower, it signifies that the buyers remain slightly distinct. Regardless of the bearish action prevailing, the possibility of BTC price igniting a bull rally emerges.
During the previous day, the rounds of Genesis preparing to file for bankruptcy had slashed the price below the rising parallel channel. However, after reaching immediate support, the BTC price quickly rebounded from $20,632 and currently hovering very close to $21,000.
In case of an extended bearish action, the price may drop back toward the lower support and as the volume has depleted, the price may remain consolidated for a while. Only in case of a bullish influx, the price may rise slightly but may not surge beyond $21,000.
Conversely, if the price fails to hold the support then a wider bearish action may slash the price below $20,000 very soon. A popular analyst, TAnalyst, shares a historical Bitcoin price chart from 2015 and discovers the resembles patterns it has been following since then.
Depending on its observation, he believes that the BTC price is on its track to reach $500K. The projection is for the extremely long term beyond 2030, while the Q1 2023 forecast appears to be slightly bearish.
Will Bitcoin Remain Bullish For the Long Term? Here’s What Peter Brandt Says
Bitcoin’s price has been trending upward since the beginning of last week, which has generated a lot of enthusiasm among traders and investors. At the time this article was written, the BTC Price was well over $21,000, representing a weekly increase of 22.7%. But can the king of cryptocurrencies maintain its optimistic stance over the long term?
What Peter Brandt Thinks?
Peter Brandt, a well-known trading expert, has taken to Twitter to share a chart that seems to show that he believes Bitcoin (BTC) is building a bullish chart pattern on longer timescales.
The expert trader anticipates a price increase to about $25,000 in the near future before the price of the asset falls down to retest the possible neckline in a bid to follow the trend. Interestingly, Brandt estimates that the cost of the neckline support will be around $18,387.5.
After falling to less than $34,000, Brandt anticipates that the value of the biggest crypto will rebound to at least 50,000 dollars before 2023 ends and spike up to more than 100,000 dollars in 2024.
How the crypto market is doing?
The crypto markets have staged a remarkable recovery over the course of the previous several days. According to statistics provided by CoinMarketCap, this resulted in the overall cryptocurrency market capitalization reaching $992 billion as of January 16. Bitcoin, which has been at the forefront of the return from the front, is worth $21,107 at press time.
Following the significant increase in price, the primary concern is determining if the subsequent recovery is only a dead cat bounce that presents a buying opportunity or the beginning of a new upward trend.
It is impossible to determine with absolute confidence whether a macro bottom has been formed, but the charts point to the fact that a process of bottoming out has started, and it is obvious that Brandt agrees with this assessment.
Dogecoin Price Losing the Grip as Elon Musk May Not Remain Twitter CEO for Long!
Dogecoin price kick-started the monthly trade on a bullish note by gaining more than 50% in its value in just a couple of days. Meanwhile, the bearish action which followed dragged the price back to its initial levels again. This may be due to the reason that Elon Musk is again in rounds but did not mention anything about DOGE. Since then the DOGE price is struggling very hard to withstand the bearish pressure and rise high.
DOGE price is yet again plunging heavily as the asset has plunged by more than 12% in the past 7 days. The bearish momentum was further fueled when the current Twitter CEO, Elon Musk expressed his willingness to step down as Twitter CEO and conducted a poll.
As of now, more than 57% of 14 million votes are in favor of him stepping down as the CEO, while the poll may still run for another 3 hours. Along with this, the bearish sentiments prevailing within the space could be a major reason for the fresh decline in the prices
The Dogecoin price has been trading below the crucial 200-day MA since the beginning of the yearly trade. However, the November push uplifted the price beyond these levels marking the revival of a firm bullish trend. Presently, the DOGE price, despite the bearish action, is trying to sustain at these levels and trigger a rebound. Meanwhile, the buying volume has dropped heavily due to which the fear of slicing down from the 200-day MA levels emerges.
In that case, the DOGE price is expected to test the lower support zone between $0.05 to $0.056 and attempt a rebound. Conversely, if the token triggers a rebound from the current levels after a brief consolidation, then a notable jump towards the interim resistance at 50-day MA levels at $0.095 appears imminent.
Collectively, the Dogecoin price appears to be extremely bearish and if Elon Musk steps down as the Twitter CEO, the token may be negatively impacted. The November surge was fueled by the speculations of Twitter adding DOGE to their payment methods. Therefore, the coming few days could be extremely pivotal for the DOGE price as immense volatility may be expected until the year’s end.
Dogecoin’s (DOGE) Price Surges, But How Long Will It Sustain Above $0.1?
The crypto space appears to have experienced a slight pullback after undergoing a massive upswing in the early trading hours. While the market cap continues to hover above $850 billion, one wrong move may drag the price of popular altcoins like DOGE, lower. Dogecoin price has been maintaining a strong uptrend for the past 7 days, which is believed to get reversed very soon.
The dogecoin price rally is largely believed to be more lenient on the short-term holders who constantly cause a minor bounce. This fades over time, dragging the price of DOGE to its initial levels, it traded before the rally. After remaining dormant from June and October, the November trade was slightly bullish. The trader’s focus concentrated on the asset as the price marked its lows on the crucial support at $0.07.
The price is currently hovering around the crucial resistance at 0.38 FIB levels, facing difficulties in clearing these levels.
After forming a double-bottom pattern, the DOGE price rises high and currently testing the crucial resistance at the neckline. Therefore, if the price successfully breaches these levels, then the possibility of a bullish breakout emerges. Else, the price may continue to consolidate just below this resistance for a long time frame. However, a notable breakout beyond the neckline may ignite a notable upswing beyond $0.11 but may be restricted below $0.12.
While the price continues to hover within narrow ranges, on-chain metrics display the possibility of a significant upswing soon.
- Whales continue to accumulate more DOGE over time, regardless of the price movements. The number of holders with 10,000 to 10,000,000 DOGE in their wallets has been incremental for the past few months.
- Social dominance which combines the social sentiments and engagements of the asset has been on the rise for over a month
- The DOGE miner revenue peaked during the beginning of the month which had dropped of-let, and has again raised notably
Overall, the Dogecoin(DOGE) price appears to be significantly bullish in the short term, but as the bulls get exhausted, a massive drop could be registered in no time. Therefore, the price is expected to remain consolidated until the market sentiments gear up.
Millions of SOL May Flood Into the Market Soon, Solana Likely to Remain Within the Bearish Captivity for Long
Solana‘s price was badly impacted by the recent FTX meltdown and dropped heavily from levels close to $40 to as low as $12. While many were perplexed because no direct link was visible to the naked eye, the details that emerged later astounded the entire crypto space. Solana in a blog post explained the link between the collapse of both FTT & SOL.
The main highlight of the blog was Solana being the most exposed platform post the FTX collapse. Moreover, the network is also feared to carry the same fate as it has sold millions of SOL tokens to FTX & Alameda Research which are locked right now.
FTX and Alameda Research own nearly 50 million SOL, out of which they received 4 million in August 2020, 34.52 million in September 2020, and 34.52 million in January 2021. The tokens are sold but will be released using the linear monthly unlock mechanism.
Considering the above table. It can be interpreted that Solana has promised the firms to sell, but they may not have custody of the tokens. These tokens will be released for FTX on the basis of linear monthly unlock, of which the last 3 unlocks may occur by January 2028. With the new findings, the SOL price, which was already under extreme pressure, is now in extreme danger.
The SOL price is now testing the lower trend line, which is very crucial at the moment and is believed to drop below the danger zone very soon. Moreover, if FTX & Alameda continue to liquidate their holdings as they receive them, the SOL price may never recover from its bearish captivity.
Presently, the SOL price is trading near crucial levels after dropping by more than 60% in the recent past. If the asset finds more capital, a push may probably rise back above $40–$50, which carries fewer chances of occurring. Meanwhile, if the SOL price fails to sustain at the current levels and slides down hard below $13, a steep drop to $2 to $4 is pretty much possible due to a lack of liquidity at these levels.
The Solana price prediction appears to be pretty pessimistic, but the current realities may be quite likely.
JPMorgan Warns of A Long Slump In The Crypto Markets! Here’s What You Should Know
JP Morgan: Highlighting The Red Indicators
Recent opinions by expert analysts have noted the rapid depletion of venture capital in the cryptocurrency market. JPMorgan Chase & Co. strategist Nikolaos Panigirtzoglou said on Thursday that annual funding for the cryptocurrency industry is at the $10 billion mark, which is only a third of the previous year’s rate.
Venture capital funding for cryptocurrencies hit a record low of $4.4 billion during the third quarter of this year. As a result of macro variables like monetary tightening, investors have lost interest in risky assets because they do not want to lose more money than they already have.
The JPMorgan team published the following report:
The current weakness in crypto markets is likely to persist if this trend continues, as it demonstrates a reluctance by VC funds to commit resources to the digital-asset area.
The cryptocurrency exchange Coinbase also released its quarterly numbers on November 3rd, revealing a net loss of $545 million. The company reported that macro headwinds, as well as the correction in the crypto market, had a significant impact on their transaction revenue.
Besides that, Coinbase also added that it does not anticipate a rapid recovery of the cryptocurrency market from present levels. Thursday’s trading session saw the price of COIN shares down another 8% to a final value of $55.80. The COIN share price has dropped by around 85% from the past year.
JPMorgan’s Approach to Consumer Safety
In addition, JPMorgan stated that banks must put safety and compliance first when experimenting with cryptocurrencies. Recently, banks have been getting closer to the crypto business to improve the accessibility and efficiency of their financial services and bridge the gap between traditional financial institutions and new-age assets.
That being said, adequate safety measures are crucial to protect investors from cyber threats. Umar Farooq, CEO of JPMorgan’s blockchain unit Onyx, made the following remarks this week at the Singapore Fintech Festival 2022:
“From both a regulatory and a customer’s perspective, it is essential that banks take measures to safeguard their clients’ financial information. We can’t afford to waste any of their capital”
The financial behemoth is working on this via verified collections technology, which would reside in the client’s blockchain wallet. Each time a user transacts over the protocol, their identity is checked.
The bottom line
While in conversation with CNBC, Farooq said, “He can’t imagine people being able to send money across borders if no one checks and no one knows who’s giving money to who, because sooner or later they will be in a money laundering issue.”
Given the state of the world, it’s safe to say that the cryptocurrency community as a whole is reevaluating whether or not altcoins represent a secure investment. This could prove beneficial for investors who put their hard-earned money in such assets with the hope of impressive returns but often end up losing it.
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4 Ways To Invest In Crypto For Short And Long Term Investments
Buying cryptocurrency is easy than ever. But making real money on it. Well, that’s a different matter entirely.
Essentially, if you want to make money through crypto there are two ways of doing this. Either through a considered long-term ‘buy and hold’ strategy, or via a quick, short term ‘day swing’ approach.
In this article we’ll give you a quick rundown of what both involve. As well as showcasing 4 ways to invest in crypto for short- and long-term investments.
What to Know Before Investing in Cryptocurrency
Even though you might have heard stories of people who have got very rich from investing in crypto, it is important to recognise that cryptocurrency is a very high-risk investment.
In fact, these markets are so unpredictable and volatile that it is not uncommon for something like Bitcoin to experience a week where its value plummets by upwards of 25%, only for it to peak at record levels 7 days later.
If you do decide to buy crypto, it’s a good idea to only devote a small part of your portfolio to it for now.
It’s worth noting too that in many countries, cryptocurrency gains are taxable.
Also, while your checking and savings accounts are insured for situations where you bank might collapse or get hacked. This is often not the case for crypto.
So, whilst this is a very rare chance of happening, there is a possibility you can lose all your investment through no fault of your own.
How to buy cryptocurrency
If you are to invest in crypto, one of the first things you need to do is decide on a creditable exchange.
An exchange is the platform on which you will be purchasing, selling and most likely, storing your crypto. Thankfully there are quite a few robust and reputable ones around.
This includes Crypto.com, which is one of the most popular global exchanges in the world. As well as Coinbase which is a very good platform for those just getting to grips with digital currency.
Other very good exchanges include eToro, which lets you invest in ETFs stocks and more than 30 popular cryptocurrencies, as well as Binance.US.
Choose which cryptocurrencies you want to invest in
While Bitcoin is probably the most famous of all digital currencies right now, there are in fact, more than 7,500 cryptos currently out there.
This might seem like an overwhelming choice, but most exchanges only offer between 20 to 30 of them.
As not all cryptocurrencies are not created equally, you will have to do some thorough research about each individual one you are interested in before investing.
However, some of the top rated and most often traded cryptos are Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and Binance Coin (BNB).
Which ones you invest in, is of course. entirely up to you. But with cryptocurrency being volatile and speculative by nature, often it comes down to the simple matter of which one you have most faith in.
Decide on how much crypto to buy
After determining which types of cryptocurrencies, you want to buy, you will have to decide upon how much of it (or them) to purchase.
Opinion on this varies but sound advice could be to invest no more than 5 – 10% of your entire wealth on it. That way should crypto not work out as you hoped, you will still have enough money to comfortably retire with.
Another good strategy might be to only invest in crypto once you have accumulated at least $100,000 in safe investments. This is because it is generally acknowledged that currently, you can’t build a guaranteed future of wealth on it.
Safely Store Your Private Keys in a Wallet
After you have bought your crypto, you will then have to decide how you will store it.
Essentially you do this in what is called a ‘wallet’, of which there are two types – hot and cold wallet.
Hot wallets allow you to easily access and sell your reserves of cryptocurrency whenever you want. Whilst several security measures are put in place to protect them, hackers are getting more sophisticated in their attempts to steal crypto.
Therefore, many traders, and particularly those who intend to practice a long-term investment strategy, choose to save their private key to what is known as a ‘cold’ wallet. Typically, a USB or hard drive which they store in a bank’s safety deposit box or a home safe.
You probably don’t need a cold wallet if you are only going to invest in relatively small amounts. Although a storage option you might consider either way, is to set up a cryptocurrency savings account. As this will also enable you to receive interest on your investment.
Choose a strategy
When buying crypto you will need to work out what your end goal is.
Clearly it will be to build wealth. But you will have to determine whether this will be on a long-term or short-term gain basis.
Overall, there are two ways to invest in the cryptocurrency market. These are known as ‘buy and hold’ and ‘day swing’.
Buy and hold investors tend to buy crypto with the goal of holding them for an extended period. Banking on the fact that its value will naturally rise over time and ignoring short-term rises or falls. This would be the approach when incorporating cryptocurrency as part of a Self-Managed Super Fund.
Those who adopt an active trading day swing strategy will spend a lot of time on a daily, even hourly basis. Meticulously analysing trends and researching new digital currencies that are performing well.
When they notice a slight downturn in their performance, they will then sell for as big a profit as they can.
Growing Your Investment
Having bought your first lot of crypto and stored it in your wallet, and with a clear strategy in mind, you can then set about growing your investment.
While buying cryptocurrency is one, albeit high risk, way to invest for long-term or short-term gains, there are some other lower risk methods you might consider adopting as well.
These are as follows:
Learn, to earn ‘free’ crypto
Several sites like Coinbase run schemes like their ‘Earn’ program which allow you to earn a small amount of free crypto just by learning about it on their platform.
This might involve earning, for instance, $2 in Stellar (XLM) just by watching a short video that lasts little more than two minutes.
If you have the time available, you could slowly add to your reserves in this way over a significant period of time.
Invest in cryptocurrency stocks and ETFs
Recently the Securities and Exchange Commission in the USA approved the first Bitcoin futures ETF. This allows you to invest in the crypto without having to buy any.
In addition, you can also choose to invest in the crypto industry itself through the purchases of shares in companies that are heavily invested in it.
The likes of Coinbase, Hut 8 Mining (HUT) and Nvidia (NVDA) could all be savvy investment options for you.
Invest in the Blockchain
Another way of investing in crypto without the need to buy any is to invest in the technology which supports it. This is known as blockchain.
Back in 2014 only two of the world largest PLCs had any kind of investment in blockchain. Today that number is over 80.
In fact, so far has this type of investment strategy come, there are now even blockchain ETFs available.
Principally this revolves around the Amplify Transformational Data Sharing ETF (BLOK), which offers a terrific selection of blue chips and impressively performing start-ups.
Mine for crypto
If you have access to a fast and powerful computer that has a graphics card with gaming-capability, you can also mine crypto for free.
Mining requires you to lease the processing power of your computer to participants within the blockchain. However, should you decide to do this, you would receive a few free cryptos for the privilege.
Disclaimer: This is a guest post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
Elon Musk’s Recent Twitter Purchase led to Massive Dogecoin Volatility, How Long Will It Sustain?
Since the market collapsed in May 2022, the cryptospace has been heavily influenced by bears. The Bitcoin price was slashed by more than half, dragging the other popular altcoins lower in the meantime. Dogecoin, on the other hand, was speculated to be dead as it maintained a stagnant trend for more than a year. However, Elon Musk has again jumped in to rescue his favourite token and ignite the DOGE price rally.
But the question is whether DOGE prices will remain above the gained levels or simply display a short-term bounce, as they do every time.
It would not be incorrect to say that Elon Musk’s acquisition of Twitter has halted the crypto space’s bearish trend. The rebound, however, has yet to be validated because the tokens have yet to overcome their respective resistance levels. Meanwhile, the DOGE price appears to be very close to undergoing a significant breakout beyond the consolidation that may kick-start a decent upswing very soon.
With the rounds of acquisitions, bulls quickly jumped in action and uplifted the price beyond the crucial resistance levels. However, they failed to keep up the price as the bear dominated the rally and slashed the price back within the triangle. As the token manages to trade within the bullish pennant, the probability of resuming an uptrend emerges.
The rally appears to be pretty short-lived as the active address count has considerably dropped after the recent spike, along with the trading volume. Conversely, social dominance continues to flutter high, which may certainly not impact the DOGE price on a larger scale.
No doubt the volatility of Dogecoin has been spiking with the rounds of Elon Musk’s Twitter acquisition, but it is more important to figure out when the hype will die.
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Altcoins to Plunge Hard! Will the Crypto Winter Freeze the Holders for Long This Halloween?
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Popular altcoins which had registered a decent price movement, a few days before, now appear to have been influenced by strong waves of this crypto winter
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The investors do not appear to be keen on jumping in as the market remains largely consolidated without making an effort to breach these levels
The cryptospace had geared up significantly a few days ago, but the assets, primarily altcoins, have remained heavily consolidated in the last few days. Meanwhile, the Bitcoin price maintained a stagnant trend due to the fact that altcoins are unable to decide the next course of action. A popular analyst, Michael van de Poppe, pens down the possible price movements of some altcoins in a coming couple of weeks.
Quant (ONT)
- Quant maintained a notable upswing since the beginning of September, but the bears appear to have strengthened in the past couple of days that dragged the price lower
- The analyst believes the price may drop towards the lower support at $157.3 initially and try to attempt a rebound
- Meanwhile, if the asset fails to sustain at these levels, then a significant plunge may drag the QNT price lower to $142.7 levels
Chainlink(LINK)
- Chainlink price is trading within a pre-determined price zone for a pretty long time and is expected to kick off a significant upswing very soon
- After rebounding from the bottom the LINK price has surpassed the Stop-loss zone and may soon range high to reach the targets
- However, to do so, the LINK price is required to surpass the crucial price zones at $8 beyond which a notable upswing may rise the price beyond $10
Reserve Rights(RSR)
- The RSR price had rebounded from the lower support zone and laid down a firm upswing towards the interim highs
- Woefully, the bears dragged the price lower but the token managed to sustain above the crucial support zone and ignited a strong rebound
- The validation of the upswing could be when the price surpasses $0.00713 which may further induce a new impulse within the RSR price
Whales Go Long On Bitcoin, Crypto Market Predicted To Surge 2x Next Year
Bitcoin started attracting buyers after it began to float around the $18,000 price level. BTC quickly climbed the chart two weeks later. However, the coin’s technical outlook suggested that the bears hadn’t given up just yet.
BTC may surpass the $20,000 price level if the bulls are able to maintain their momentum during the coming trading sessions. Once the bulls break over the $20,000 barrier, the possibility of a rally toward the $22,000 price level cannot be ruled out.
At the time of writing, BTC was trading at $19,120 and was down by more than one percent in the last 24 hours.
The crypto market had a significant selloff as a result of the Federal Reserve continuing its hawkish stance and hiking interest rates. The probability of a recession has also increased as a result of the Fed’s position.
FED to soon change course?
As reported by Bloomberg, Professor Jeremy Siegel of the University of Pennsylvania predicts that the stock market will rise 20–30% in the coming year because it is currently undervalued. He thinks that the Federal Reserve is draining the market’s enthusiasm.
The general stock market and the cryptocurrency market have a close relationship. Cryptocurrency assets have a beta of 2 in comparison to the overall stock market, according to Coinbase Research. In other words, the price of cryptocurrencies will fluctuate by two times as much as the overall market.
The crypto winter was primarily about the macroeconomic outlook rather than the cryptocurrency outlook, reveals the Coinbase research. According to Siegel, the cost of inflation in the economy is outweighed by the risk of a recession.
He also emphasizes that the Fed will soon change course if it adheres to long-term patterns. He contends that the central bank needs to give the interest rate increase some time to take effect.
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Binance (BNB) Price Hits $340! How long will it sustain at this level?
Binance’s native token had a sharp fall on June 7 due to the US SEC opening an inquiry into potential violations of US securities law. A 7.3% decline in pricing brought the price to $275, which was the lowest point. Prices are expected to decrease by 25% to 40% in 2022 due to Binance’s alleged role in laundering millions of dollars worth of illegal money for criminals.
BNB Surpasses USD
With a change of 0.33% over the previous 24 hours, the BNB is presently trading at $294.73. The market cap of the Binance currency is now $47,550,805,775, following the most recent price movement. A study claims that in 2021–2022, the BNB was the third- or fourth-largest cryptocurrency in the world by market cap. It currently outranks the US Dollar Coin and is the fourth-largest cryptocurrency after Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
Bearish Pressure To Dominate BNB
The Binance coin price has been highly volatile for a few months. After a significant price decline in June, the prices stabilized within the ascending parallel channel for around two months before crossing over.
BNB prices surpassed the parallel channel’s upper trend line and reached their peak at $340.0 before quickly re-entering the channel and dropping below the target of $297.5, reaching the lower trend line.
As apparent in the chart, the bulls attempted a rebound rally and raised the prices just a little bit above the target, but the bearish dominance caused the prices to fall below the target, generating waves that eventually led to the creation of a wedge.
The bulls attempted a rise again, and when prices hit their goal of $297.5, they flipped it to a resistance level. Prices fell to point ‘b’ due to the bearish dominance, and eventually, the BNB prices are anticipated to hit the target level at point “c”, which happens to be on the same level as “a”.
The prices may retest the target level and decline below it, making a flat pattern and roughly reaching the bottom at $234.5, according to il Capo Of Crypto- a cryptocurrency analyst, swing trader, and long-term investor.
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Investors believe Snowfallprotocol.io (SNW) is likely to be more successful than both The Sandbox (SAND) and Decentraland (MANA) in the long run
It is often said that the best way to judge the value of a cryptocurrency is to look at its utility. In this article, we will compare Decentraland (MANA), The Sandbox (SAND), and Snowfallprotocol.io (SNW) based on their respective utilities.
The Utility of Decentraland (MANA)
By first understanding what Decentraland (MANA) is, we can better understand its utility. Decentraland (MANA) is a virtual world that runs on the Ethereum blockchain. It is a decentralized platform where users can create, experience, and monetize content and applications.
Decentraland (MANA) is powered by the MANA token. The Decentraland (MANA) economy is fueled by the spending and earnings of MANA.
Decentraland (MANA) uses an ERC-20 token called LAND. LAND is a non-fungible token (NFT) that represents ownership of a virtual plot of land in Decentraland (MANA).
Decentraland (MANA) is also being used as a platform for virtual reality (VR) meetups, online events, and more. This cryptocurrency does not offer much outside of the Ethereum blockchain as Ethereum is its own blockchain and is not interconnected with other blockchains.
The Utility of The Sandbox (SAND)
The Sandbox (SAND) is similar to other games with metaverse aspects. This game is a way for creators to come together and make unique virtual worlds.
The use case for The Sandbox (SAND) is to allow people to experiment with game design, land management, and NFTs. The game also has an ERC-1155 standard for NFTs, which allows for more complex items and interactions.
By encouraging creators to design digital assets within their game in return for (SAND), The Sandbox provides an ecosystem that can be used by developers to create NFTs and get rewarded for their efforts.
However, this takes active effort, whereas Defi staking opportunities from Snowfall Protocol are much more passive. As time is limited, and people are seeking more returns for their investment, it’s not surprising that the Sandbox (SAND) is falling short of Snowfall. This is because there is much more utility to Snowfall Protocol than just staking.
The Sandbox (SAND) is a fun game. It shows how decentralized Internet applications can create an interactive experience. By creating a community around the creation and using metaverse technology, The Sandbox (SAND) is trying to create a new type of gaming experience.
It’s fair game to give Sandbox (SAND) its due credit but when it comes to truly revolutionizing the way people interact with the internet, Snowfall Protocol takes the win.
Snowfallprotocol.io’s (SNW) Utility For The Entire Blockchain Industry
As a multi-chain protocol that is on a mission to create a more interoperable Web3 experience for all blockchain users, Snowfallprotocol.io (SNW) has a much broader utility than both of these applications.
By allowing users to seamlessly swap their digital assets across the different blockchains, a new era of inter-chain collaboration and innovation is being ushered in by Snowfallprotocol.io (SNW). This will lead to a more connected world, where people can easily access the applications and services they need, regardless of which blockchain they are on.
As you can see, they are both great projects with a lot of utility. However, Snowfallprotocol.io (SNW) is on its way to becoming much more useful than both these games combined. Make sure to keep up-to-date with all the latest news on Snowfallprotocol.io (SNW).
For more information about Snowfallprotocol.io’s (SNW) Pre-sale
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Presale: https://presale.snowfallprotocol.io
Twitter: https://twitter.com/snowfall coin
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. Readers should do their own research before taking any actions related to the company.
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Solana is Setting New Records for Network Outrage! For How Long Will the SOL Price Be Unaffected?
Solana network is back to work following a 6-hour halt due to the network outage. The platform stopped processing the transactions due to a defective node, which compelled the network to remain offline. However, the developers were successful in reviving the network as they restarted the solana
solana Blockchain Network 
Followers : 0 View profile mainnet.
The SOL price has not been largely impacted by the outrage as the network has witnessed more than 6 halts this year. However, the price may not remain unaffected for long as they are largely stuck within a descending trend. The token is constantly testing the upper resistance but failing to slice through the consolidation.
The Solana price, with the latest price action, has somehow managed to surpass the crucial 200-day MA levels in the short term. While the asset has not been confirmed with the rebound, the bears continue to mount significant pressure. Hence, if the price falls apart from these crucial levels, then the possibility of testing the lower support at $30 emerges.
While these support levels have been respected many times before, another retest may drag the price lower to $28.8. However, the technicals suggest a quick revival of a bullish push, which may compel the SOL price to undergo a short-term bounce to reach $32, but eventually, a significant drop could be imminent.
The constant Solana’s network outrages have eventually landed SOL prices in deep waters. A very less possibility of a fine rebound may be expected as the bears are all set to trap the bulls at $32.
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Breaking Bad Actor Says XRP Will Win its Long Impending Battle Against SEC
Hollywood stars who have been vocal about cryptocurrencies on Twitter and in other ways over the previous few years seem to have stopped talking and tweeting about them by this point. However, recently the ‘Breaking Bad’ actor extended his support for XRP as it prepares to win in the final face-off with SEC.
Daniel Moncada, who co-starred with his brother Luis in the popular television show Breaking Bad, thinks the fintech giant Ripple will win in its legal battle with the SEC. He shared this with David Gokhshtein as he joined the conversation on this topic that the crypto influencer started.
Additionally, Moncada participated in a few additional film projects and starred in the “Breaking Bad” spinoff “Better Call Saul.” He and his brother performed “The Cousins” together. The actor, who was born in Honduras, appears to be interested in crypto, NFTs, and Web 3.
David expressed the opinion that if the blockchain company wins its legal battle with the regulator, Ripple and the entire cryptocurrency market will “go parabolic” in a few tweets from September and from last year.
He also stated that the price of XRP will skyrocket and in a recent tweet he said that he was thinking about purchasing additional XRP to his stockpile, and he previously stated that XRP detractors will undoubtedly use this coin in the future. The influencer “urged” the price of XRP to increase on Thursday by tweeting that he wanted the currency to go crazy right now.
He’s been talking about LUNC token as well. Gokhshtein has been referring to the recently revealed LUNC token of Terra as a “lottery ticket”, and also revealed that he was excited about LUNC revealing a roadmap for resurrecting itself.
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This is When Ripple’s (XRP) Price May Leap Long to Hit $1!
The price of XRP has surged by 74% since its recent high of $0.559. The XRP price has been in a descending triangle for the past hour and is anticipated to resolve soon. According to theoretical forecasting techniques, the price will decrease by 15% after the issue is resolved.
The midpoint is around $0.45, and the bears are expected to experience significant resistance through this level. After breaking through this level, prices might likely fall by 5% to 6%.
It is anticipated that the Ripple vs SEC continuing legal dispute, which was first filed in December 2020, will be resolved. It will be interesting to see if there are any current dips because it is a good time to buy.
From $0.381 to $0.439, one can see a daily or one-day demand zone. In a one-hour time frame, the descending triangle places the target for XRP around $0.381, a crucial milestone as stated previously.
Seeing where XRP might go if the descending triangle breaks because of the demand is intriguing. Prices in the demand zone began to form in the second week of May. At about $0.40, price accumulation must be observed. Beyond that, the FVG on a daily time scale may be observed peaking at a candle on September 21 at $0.43.
Expecting the Bitcoin price to sweep $17,600 and recovery over that level would be exceedingly bearish for XRP, Bitcoin, and the altcoins if prices soar above the daily demand zone assuming good market circumstances. In this situation, it is anticipated that a rebound starting from a daily demand zone will encounter significant resistance up to 38%, or roughly $0.60. Prices may rise directly to their equal height of $0.9145 once they manage to reverse the $0.60 level.
In the upcoming days, the XRP price is anticipated to increase by 100%. Given that the 74% change occurred after the index price had been consolidated for around 128 days, it might not occur right away. To cause the prices to spike early, catalysts are needed.
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This is When Ripple’s (XRP) Price May Leap Long to Hit $1!
The price of XRP has surged by 74% since its recent high of $0.559. The XRP price has been in a descending triangle for the past hour and is anticipated to resolve soon. According to theoretical forecasting techniques, the price will decrease by 15% after the issue is resolved.
The midpoint is around $0.45, and the bears are expected to experience significant resistance through this level. After breaking through this level, prices might likely fall by 5% to 6%.
It is anticipated that the Ripple vs SEC continuing legal dispute, which was first filed in December 2020, will be resolved. It will be interesting to see if there are any current dips because it is a good time to buy.
From $0.381 to $0.439, one can see a daily or one-day demand zone. In a one-hour time frame, the descending triangle places the target for XRP around $0.381, a crucial milestone as stated previously.
Seeing where XRP might go if the descending triangle breaks because of the demand is intriguing. Prices in the demand zone began to form in the second week of May. At about $0.40, price accumulation must be observed. Beyond that, the FVG on a daily time scale may be observed peaking at a candle on September 21 at $0.43.
Expecting the Bitcoin price to sweep $17,600 and recovery over that level would be exceedingly bearish for XRP, Bitcoin, and the altcoins if prices soar above the daily demand zone assuming good market circumstances. In this situation, it is anticipated that a rebound starting from a daily demand zone will encounter significant resistance up to 38%, or roughly $0.60. Prices may rise directly to their equal height of $0.9145 once they manage to reverse the $0.60 level.
In the upcoming days, the XRP price is anticipated to increase by 100%. Given that the 74% change occurred after the index price had been consolidated for around 128 days, it might not occur right away. To cause the prices to spike early, catalysts are needed.
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Cardano (ADA) Flashing Buy Signals, While Litecoin(LTC) & Avalanche (AVAX) May go Long Soon!
Cardano (ADA) Price Analysis
Cardano’s price has continued to trade along the lower support around $0.434 ever since the price collapsed from $1.2 in May. While the volume & volatility diminished heavily, the price remained consolidated below $0.6.
Market participants expected an upswing after the Vasil hard fork, but to everyone’s surprise, the ADA price continued to trade flat, similar to the situation after the Ethereum Merge. The upcoming impact will be easier to measure if the asset marks its entry into the demand zone.
Presently, the ADA price is accumulating within a range, while a drop to $0.30 to $0.375 is expected in the coming days. With the drop, the price reaches the demand area where-in investors may jump in to stack some. Therefore, a break of the downtrend towards the lower support may be the trigger to go long.
Litecoin(LTC) Price Analysis
Litecoin price with the recent price crash, sliced through the lower support of the ascending parallel channel. While the asset continues to trade close to the lower support of the channel, attempting hard to enter the channel again. As Bitcoin remained largely stable without being volatile, the LTC/BTC pair displayed a significant strength compared to that of USDT.
Presently, the price just bounced off the lower support between 0.0037 & 0.0028 SATS. However, the price may retest these levels again before raising high towards the next resistance at 0.003 sats. While the main target of LTC/BTC lies around 0.0034 sats, that may be achievable in the next 10 to 12 days.
Avalanche (AVAX) Price Analysis
The Avalanche price is again testing the lower support yet again after the bulls failed to uplift the price by $30. Presently, the AVAX price is trading around $17.31 with a reduced volume & volatility that may compel the price to remain lower until the day’s close. However, in a larger time frame, the asset is expected to make a huge comeback and rise by more than 50% in the coming days.
The AVAX/BTC on the other hand is displaying huge potential to go long and if the market conditions persisted, the asset may even reach 9200 sats. However, the price could further create a higher low which may further trigger a long run towards 10500 sats in the coming days.
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Long Term Investors Are Positive About Terra Classic (LUNC), Here’s Why? – Coinpedia – Fintech & Cryptocurreny News Media
Terra has evolved into one of the projects that is actively being developed in an effort to recapture the position it formerly held. Since its infamous collapse, Terra has resurfaced under the name Terra Classic. The price of LUNA tokens has risen to a new high of $7.06 because of the rising interest in Terra 2.0.
Along with launching Terra Docs, the project’s official documentation, Terra also redesigned its website. Code Hike, a revolutionary visualization tool used to display the Terra source code, was utilized to produce the Terra Docs.
Over 566 billion LUNC have been staked, or 9.643% of the entire 6.9 trillion supply, according to a tweet from LUNC staking, an official bot that monitors and updates Terra Classic staking data every 10 minutes.
Long term investors seek resort in Terra 2.0
It shows that 32 billion LUNC more have been staked recently. On September 10th, the Crypto Basic revealed that approximately 534 billion Terra Classic had been staked. It is encouraging that more investors have a long-term commitment to the initiative for the network, which aspires to experience a revival. As a result, it also lessens the asset’s selling pressure and circulating supply.
Staking was restored on the Terra Classic network on August 27 as part of the well-publicized V22 network update. Some see it as the start of the LUNC reconstruction process, providing holders with chances to create wealth.
There is no minimum deposit requirement for LUNC staking, according to information from Staking Rewards. Additionally, staked assets are subject to awards of up to 37.8% and are locked for 21 days.
In order to restore Terra Classic, the LUNC community has since offered and supported a 1.2% tax burn plan. Three days from now, all on-chain transactions will be subject to the proposal’s implementation, which attempts to reduce the excess LUNC supply.
As the majority of LUNC operations take place on these platforms, the community is also seeking to enlist central exchanges to apply the tax burn to off-chain activity like spot trading.
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After Terra Classic Price 4x Rally in 30-Days, Should Traders Go Long or Short on LUNC?
While major cryptocurrencies are under bear control, the new version of collapsed Terra (LUNA), Terra Classic (LUNC) has been enjoying its bullish momentum for a month now. In the initial stage of its introduction, there has been a lot of controversy due to its 99% loss in a year.
At the time of writing, Terra Classic (LUNC) is trading at $0.000522 after an upward movement of 16.03% in the last 24hrs. As per Coingecko in just two weeks, LUNC has registered 400% profits.
However, with such a controversy around, there comes a question of sustainability and how long will the currency be profitable.
Reason For LUNC Price Rally
To understand any currency’s sustainability and value, it’s important to know the derivatives of that currency. In terms of LUNC, while the currency was having its time with a bullish trend, the derivatives around it were flashing negative. The derivative is the indicator that shows the number of traders who are taking longs or shorts.
If the funding rates flash bearish it means that majority of investors and traders are either shorting or betting for a price crunch. It’s vice versa when the funding rates are bullish. An anonymous trader has revealed that LUNC funding rates have hit -0.48% in the early hours today.
This means that as LUNC is experiencing a bull run, there is a short position that is crashing at the currency. Hence, the positions might get liquidated if the bullish trend is continued further.
Also when Open Interest (OI) is considered, there is an increase of OI towards LUNC/USDT over the last 12 hours. As per OI Bot, LUNC has gained 30% Open Interest along with an increase of millions of dollars.
There are many reasons spotted for LUNC’s increasing price action and one such reason is a proposal to introduce the currency burn concept for LUNC. The proposal got a green signal just a few weeks ago. Hence, there are speculations that this is the reason for LUNC’s price surge which burns 1.2% of the currency’s supply and in turn facilitates staking.
As per the proposal, the community known as Terra v1 governance community which also includes validators is the one that will decide the distribution for these two proposals.
However, it’s still not clear how far the burn mechanism will push LUNC towards upward price action or if it’s just a trap.
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Bitcoin Long Trades Pile Up While Surging DXY Index Haunts the BTC Price Rally – Coinpedia – Fintech & Cryptocurreny News Media
The dominant crypto, Bitcoin has been trading within bearish captivity for nearly 15 to 20 days and hence was expected to break the trend very soon. In the past couple of days, the price has been trying to surge above the immediate resistance. However, the current trade set-up denotes that the bulls have stepped out as the bears mark their strong presence.
Investors Bullish on Bitcoin
While the upcoming trend of the BTC price has become pretty unpredictable, more traders are confident of the asset pulling a significant leg up. Hence the volume of long trades has recently outperformed the short trades on Binance futures.
The data above displays the volume of the long trades & short trades in the past week. Despite the shaky price trend, the investors placed their bets on Bitcoin long more than shorts. As of September 01, nearly 67.59% of trades on Futures are long while 32.41% are short. Therefore, the possibility of the BTC price surging above $21,000 emerges, which may be followed by a notable drop.
Strengthening of DXY Index – A Bearish Case for Bitcoin
Conversely, the DXY Index, which determines the strength of the US Dollar is coiling up. After a minor rejection from 20-year high levels at 109.99, the asset failed to continue to remain within bearish captivity. Hence the Index, since the early trading hours has been extremely bullish, flashing the signals of marking new highs very soon.
The DXY Index is expected to surge slowly yet steadily and may retest the upper resistance in the coming weekend. Further, it may again experience a rejection, which could be reversed in a very short time ahead. In such a case, the Bitcoin price may experience tougher times as the possibility of a significant dump may be imminent.
Considering both cases, it is quite prominent that the descending consolidation of the asset is expected to prevail for some more time. As September month is largely believed to be bearish, the Bitcoin(BTC) price may maintain a low-key trend for a long.