Top Altcoins Which May Recover From the Ongoing Bearish Trend
The crypto space has been extremely volatile in recent times as the top crypto assets have been hitting their resistance and support levels constantly. In the meantime, some of the altcoins appear to be ready for a massive explosion but refrain from it themselves due to the ongoing sluggish market conditions.
Below are the top altcoins that may recover quickly as the BTC price rebounds.
Ripple (XRP)
XRP price has displayed significant strength in recent times and has held strong despite the markets being largely dominated by the bears. The price witnessed a sudden drop during the early trading hours, due to which it slipped from $0.3891 to $0.3771. However, the price continues to remain within bullish captivity as it trades along the lower trend line. Although, the RSI is bearish presently, the price is displaying the possibility of a bullish breakout soon.
Polygon (MATIC)
Polygon has been displaying extensive strength as the price maintained a fine rally toward the higher targets. The MATIC price has recovered the loss incurred due to the market crash in May 2022. The price amid the upswing triggered since the beginning of 2023 and has been maintaining a steep upswing since then. Despite the bearish market trends, the price is believed to rebound quickly with a slight relief from the bearish trend.
Optimism(OP)
Optimism price soared high before the Ethereum Merge and continued to rally high at the beginning of 2023. Presently, the asset has been failing to surge above $3.1 as it is being rejected each time it visits. But the social dominance of the token is rising along with the sentiments. Hence, a fine upswing could be imperative this week.
Shiba Inu (SHIB)
Shiba Inu price was undergoing a parabolic recovery, but the bears restricted the price below $0.000015 as they dragged the price close to $0.000012. Currently, the price is trying to break out from the consolidation and ignite a fine upswing soon. However, the depleting RSI could be a little matter of concern, therefore, a decent pullback could be imminent to find the bottom below $0.000012 before triggering a rebound.
Shiba Inu Plummets: Early Investors Cash Out, Will the SHIB Price Recover?
Despite a recent bearish wave brought on by the broader market headwinds, Shiba Inu (SHIB) has managed to maintain stability above its key support levels. Bullish sentiments on Shibarium have dwindled as a result of the recent lack of noteworthy updates, leaving the asset vulnerable to bearish swings.
Important advancements in the L2 network’s development have come to a standstill this week, leaving SHIB to the general market trend. EMAs are nonetheless often bullish, and the asset is currently trading above the 100-day EMA.
The Shiba Inu coin saw a U-shaped recovery from the 0.0000079 support during the cryptocurrency market’s recovery at the start of the new year. This bullish turnaround has propelled the coin 50% higher in the last three weeks, where it is now trading at the $0.0000119 level.
The R2 and the 200-day Simple Moving Average (SMA), which operate as stabilizing factors close to $0.00001100, support the price movement. The release of US GDP data later on Thursday afternoon could serve as a catalyst. If this happens, Shib would quickly fall toward $0.00001000 in search of support. Due to the overwhelming demand, Shiba Inu’s buy-side volume would skyrocket and swiftly pierce the green ascending trend line towards $0.00001511.
What is the Shibarium bridge?
Shibarium, a Layer-2 scalability platform, is currently being developed by the Shiba Inu developers. The team behind the cryptocurrency project is also developing a bridge that will enable users to transfer assets between Ethereum and Shibarium.
SHIB Knight revealed information and specifics on a brand-new meme-based cryptocurrency initiative that aims to increase the usefulness of Shibarium. Shibarium Bridge will be developed by the Kai Ken Inu team, according to SHIB Knight’s tweet. Kai Ken Inu is the group behind the community-focused project.
Sam Bankman-Fried Pleads Not Guilty, Task Force Formed To Recover Billions of Dollars
Defunct crypto exchange FTX has been attributed to a liquidity crunch on millions of crypto traders and several digital assets firms. With billions of dollars at stake, the Fed has come out guns blazing to help recover customers’ funds from FTX. Notably, the US Federal Government has created a task force to investigate the exchange and help customers recover lost funds.
Furthermore, the FTX implosion has awakened regulators’ attention to cryptocurrency projects, which are said to operate in a predatory environment. For instance, the SEC has warned all crypto companies must adhere to strict guidelines, including robust disclosure policies, financial reporting obligations, and stringent internal governance protocols.
Additionally, the Commodity Futures Trading Commission (CFTC) has also taken a hard stance on crypto companies, announcing new rules and laws that must be adhered to.
FTX Task Force launched by Attorney’s Office
The task force, dubbed the FTX Crypto Task Force, is composed of members from the Federal Trade Commission and other government agencies.
The United States Attorney’s Office for the Southern District of New York (SDNY) has created the FTX Task Force in order to pursue lost customer funds, and successfully manage investigations as well as legal action associated with this exchange’s downfall.
Damian Williams, the Manhattan U.S. Attorney, declared in a statement that they are unrelentingly endeavoring to address the FTX scandal: “We are working around the clock here.” It is evident that the Southern District of New York will not rest until this situation has been resolved successfully and justice served.
The task force has already identified several Crypto companies that may have been affected by FTX’s actions, and they are now working to securely recover customers’ funds. The task force is also collaborating with Crypto companies to identify further safeguards and measures that can be implemented to protect customers’ investments.
The founder of FTX, SBF, pleaded not guilty in U.S. court to charges of fraud and money laundering. SBF’s lawyers claim that their client has been wrongfully charged, stating
“SBF had no knowledge or intent to commit any alleged fraud,”
Meanwhile, the SBF legal team submitted a letter on Tuesday requesting that the identity of two people who are attempting to guarantee his bail be redacted. They contended there is no motive behind making this information public and that it should not be unveiled to the general populace.
Bankman-Fried’s lawyers asserted that the disclosure of these two people’s identities would jeopardize their security and put them in danger.
Will The Crypto Markets Recover In 2023? Here’s What David Marcus Predicts
A former executive at Meta and PayPal, and current CEO and creator of Bitcoin company Lightspark, David Marcus, has made some forecasts regarding the cryptocurrency market.
The Bitcoin enthusiast wrote in his blog on December 30 that the market won’t be able to recover from the mistreatment of unethical entities like FTX and Terra until at least 2024.
In his words:
“We won’t exit this ‘crypto winter’ in 2023, and probably not in 2024 either. It’ll take a couple of years for the market to recover from the abuse of unscrupulous players, and for responsible regulation to come through.”
In 2023, Marcus asserts, the development will boom. A lot of trust and stability was lost in 2022, but with devastation comes the chance to start again, and he believes that we will use technological breakthroughs to address humanity’s most pressing issues as we go forward.
The former Meta executive predicts that interest rates will rise during the first part of the year and that homeowners will have to adjust to mortgage rates not seen in two decades.
In addition, he said that the Lightning Network will begin to show promise as the most efficient open, interoperable, inexpensive, and real-time payments protocol next year.
After years of avarice in the crypto industry, we may finally see some useful uses emerge. Manufacturing a ton of money by making a token out of nothing is a thing of the past.
According to Marcus, the industry is back to its usual schedule of having to generate real value and solve real-world issues. He predicts significant progress in areas like payments, asset securitization, DeFi, zero-knowledge applications like proof of reserves and layer 1 scaling solutions, and a resurgence of development zeal and enthusiasm on the Bitcoin network.
Marcus is not the only industry expert who believes that the crypto winter will not end any time in the near future. There are a number of analysts who share this view, so it’s probably better to go into the new year without high expectations for the market, continue hoping for the best and never stop researching and keeping up with the latest news of the industry.
How To Recover Deleted Data From Your Crypto Wallet
Are you looking for an efficient way to recover deleted data from your crypto wallet? If yes, then this place is just for you.
Many times, crypto wallet data gets deleted for some reason, and you realize later that you need it. At that moment, you feel helpless and clueless about the same. Note that losing data from the crypto wallet is not new. Recently, over $3 billion was stolen in crypt heists. So, it’s not uncommon.
Now, your recovery to crypto wallet data depends on several factors. This includes your recovery seeds. If you have the seeds, your assets are safe. All you need to do is transfer the seeds to a wallet, and you’ll be able to access the funds easily.
If you don’t have the seeds, your data recovery is dependent on the following factors:
Computer Operating System
Computer operating systems, like Windows and OSX, has a lot to do with the data recovery process. While files in Windows are still recoverable, it’s absolutely gone in the case of MAC systems.
This is because Windows systems handle data much differently than OSX. Anything deleted on a Windows system is stored in an unallocated space that you can restore. Sometimes these files get overwritten after just a few minutes or maybe months. Even if it has been years, the files are still recoverable.
On the other hand, files on OSX are hardly recoverable. They are also gone in minutes.
Hard Drive
Files are hard to recover if you are using SSDs. That’s because it works on a feature called TRIM, where the data gets overwritten once you delete it. However, you have some chances if you are using an older HDD. As in that case, the data remains stored on the disk unless overwritten.
Time
If you have deleted the files recently, then there are higher chances of recovery. On the other hand, older files are quite complex to recover.
It’s best to recover your crypto wallet as early as possible. That’s because it’s likely that 2023 will see lower inflation rates.
Best Way to Recover Deleted Data from Crypto Wallet
Now that you know about situations where you can recover data from a crypto wallet, try out some of the ways by which you can do so:
Turn Off Your System
If you have accidentally deleted the data from your crypto wallet, the first thing you should do is turn off your system. When your system is on, it constantly reads and writes the data to the hard drive. This happens even when your system is not being used at all.
So, if you haven’t done it, turn off the system and contact professional data recovery service providers. You shouldn’t turn on the system unless an expert comes to your home.
Let the Professionals Handle the Situation
While choosing certified data recovery service providers, look for professionals that offer a success rate of 95% or above. They should offer round-the-clock services with assistance during emergency situations.
As experts have years of experience in the field, you can stay assured of quick recovery in a hassle-free manner. They follow the below process to ensure a safe data recovery:
Evaluation: Experts start by accessing and evaluating the device at the laboratory. This helps to come up with a proper diagnosis of the issue. It’s also useful to determine whether data recovery is possible or not.
Review and Recovery: After evaluation, they review and recover the data. As their team has qualified engineers, they can quickly check and send you the list of recovered data for review.
They might send you the data for review after the process to rectify whether or not the files are restored. Once you show them the green flag, they will move to the last step.
Receive data: Experts return you a drive filled with all the restored data after recovery. They can do so via secure shipping or through digital means. In many cases, you can track your new data recovery case from the smartphone.
Note: To keep your crypto wallet password and seed words safe, we recommend you not to store them on the hard drive. You should also avoid storing them in backup clouds.
That’s all. We hope now you know the complete process of how to recover deleted data from your crypto wallet.
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Binance & FTX Turn Hawkish, Causing Crypto to Crash! This Could Be the Point at Which Markets Recover!
In recent times, the crypto markets have been responding widely to external factors like the US rates, Elon Musk’s moves & mentions, and now the Binance and FTX brawl. The markets that ignited the November trade on a bullish note trembled heavily and dropped hard in minutes. The Bitcoin price, which sustained hard above $20,000, slumped below the levels, while the Ethereum price slashed below $1500.
What Went Wrong?
CEO of FTX, Sam Bankman-Fried (SBF), who was considered the king of crypto, has landed in deep trouble as Alameda Research & FTX are presumed to be on the brink of insolvency. A popular exchange, Binance, which had millions of FTT tokens, announced its plans to liquidate all of them. Very soon, the FTT price dropped hard by more than 30% to drop below $16.
On the other hand, the FTX’s Ethereum balance plummeted heavily from more than 300K to as low as 32K in just a couple of days.
Moreover, the outflow of the ETH wallet was recording huge withdrawals of nearly 500 ETH per minute. This created a huge FUD within the crypto space with a speculation of a LUNA-UST-like crash to be fast approaching.
The fear within the market continues as Alameda Research, a leading principal trading firm, founded by SBF, could dump all its tokens soon. Besides the major tokens like USDC, ETH, & BTC, the platform also holds other assets like UNI, MATIC, SHIB, RNDR, ORBS, etc. Out of these, MATIC holdings have already dropped by 80% in a single day.
Meanwhile, the latest activity suggests countless outflows of ETH, USDT, and USDC have been recorded while, 1300 UNI, 612K MATIC, & 48K LINK 4.63M BIT. These huge transfers have created a huge amount of FUD within the markets that may result in steep corrections in the coming times. However, a bearish wave much like that during the LUNA-UST crash may be expected in the coming days, which may wipe out the previous gains.
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Will Bitcoin (BTC) And Ethereum (ETH) Recover? The Hideaways (HDWY) Offers Investors a Better Option
It has been disheartening so far for investors as they’ve watched their bitcoin (BTC) and Ethereum (ETH) holdings go down the drain.
Both BTC and ETH have heralded the price decline for the bear market and have dragged the market down to nearly -70% since its last peak.
Bitcoin’s (BTC) Price Action Is Causing Market Tumble
Bitcoin (BTC) and investors have watched their assets plummet since the beginning of the bear market last year when Tesla announced that it would not be accepting Bitcoin (BTC) payments due to the environmental hazards that Bitcoin (BTC) mining was causing.
Bitcoin (BTC) is built using the proof of work (POW) mechanism which consumes a lot of energy globally to mine blocks of codes which become the digital asset we exchange.
This single act of Bitcoin’s (BTC) rejection, caused the price to start declining from its all-time high of $69,000 to $18,000. Bitcoin (BTC) is now down by -69.83% in the last 12 months.
Ethereum (ETH) Investors Panic
Ethereum (ETH) holders are still hoping for the effect of positive development for Ethereum targeted towards tackling global warming.
The Ethereum (ETH) merge saw Ethereum (ETH) move from the proof of work mechanism which resulted in high energy consumption, high carbon footprint and of course, high gas fees to the more efficient proof of stake mechanism to help tackle these problems.
This had caused some general improvements in the blockchain but has been unable to cause a bullish price action for investors to benefit from. Ethereum (ETH) investors have watched their funds go down as far as -72.35% which is how declined Ethereum (ETH) has been in the past 12 months. Better alternatives to investment in crypto are popping up daily but The Hideaways (HDWY) has shown more traction.
The Hideaways (HDWY) Flash Sale is a Winner
The Hideaways (HDWY) is an investor favorite because it gives presale investors huge security. This is due to the below:
- Solidproof audit passed the project as a secure investment – Solidproof are a leading crypto audit firm
- Liquidity is locked permanently
- Team tokens are locked
In addition to having great security for presale investors, the Hideaways is a project with huge potential to disrupt a $230 trillion industry. This is something that we think will make the whole crypto market explode.
HDWY holders will be able to purchase fractions of NFTs that are backed by luxury physical properties. These properties are hand picked by experts based on their ability to produce rental yield and capital gains.
In the flash sale, the HDWY token is just $0.03 and the expected listing price is said to be between $0.90 and $1.10. This is a great opportunity for investors to be early into a project that is the best 2023 crypto investment.
Website: www.thehideaways.io
Pre-Sale: https://ticket.thehideaways.io/register
Telegram: https://t.me/thehideawayscrypto
Twitter: https://twitter.com/hdwycrypto
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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This is Why Crypto Markets May not Recover until February 2023!
Ever since the impact of the 2021 bull run has faded, crypto markets have deep-dived into a steep descending trend. Meanwhile, multiple factors, let it be within the crypto space or not, have adversely impacted the markets. However, Q4 was expected to be pretty bullish, but October appears to close on a bearish note.
Some analysts still believe the bullish trend could be revived in the next couple of months. Bitcoin & other altcoins were speculated to undergo a notable upswing to begin the yearly trade of 2023 on a bullish note.
However, the markets are expected to remain heavily consolidated, while Bitcoin prices could tank down hard in the coming days. As per a popular analyst, Micheal van de Poppe, the FED may continue to hike rates until February 2023 which may keep the crypto markets consolidated.
Poppe believes that the FED may hike another 75 bps in November & December and 25 bps in February 2023. The FED Chain Jerome Powell had earlier said that the agency may take more stringent measures to combat the rising inflation.
The inflation rates, from the past 6 months have been at a record high above 8%, highest in June with 9.1%. Meanwhile, Bitcoin also remained heavily consolidated at the same time. Therefore, if the rates keep on elevating, the BTC price could eventually find new lows in the near future.
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Solana(SOL), Polkadot(DOT), or Polygon(MATIC)-Which Altcoin Will Recover Quickly in Q4?
The post Solana(SOL), Polkadot(DOT), or Polygon(MATIC)-Which Altcoin Will Recover Quickly in Q4? appeared first on Coinpedia Fintech News
Solana (SOL) Price Analysis
Solana price continues to extend the bearish descending triangle as the volatility has been chopped off to a large extent. A huge spike was witnessed in the DEX activity which marked double the levels of that of CEX. With a jump of nearly 11%, the SOL price continues to cement within the top 10, but if it fails to attract the bulls, may eventually mark an exit in the coming days.
The SOL price is stuck up within a huge descending triangle ever since it marked its highs above $250 during Q4 2021. However, it attempted a v-shaped recovery in Q1 2022, but fell victim to bears and fell 79% to reach the current trading zone. The SOL price is expected to breach the lower support and fall below $10 in the coming days.
However, the support zone between $24 and $19 may keep the price stable for a while. A single-digit target could be close at hand for the price in the future, though, if the SOL price fails to spark a rebound.
Polkadot(DOT) Price Analysis
Polkadot price has been consistently trading below $7 ever since the market collapsed in May 2022. Surprisingly, the DOT platform is the second most active project in terms of development activity after Ethereum, and it is three times more active than Cosmos, which is third.
Despite a huge spike in the network upgrades, the network activity remains highly negligible as the daily active address has dropped heavily of-let.
The price is trading within a huge bearish triangle and is expected to continue trading between the same pre-determined levels until the end of the month. After reaching the apex of the triangle, the price may experience an intensified bearish pull within the support zone. However, after a significant rebound, the DOT price may eventually rise to reach the local resistance at $7.13.
Polygon (MATIC) Price Analysis
Polygon price is trading within ascending triangle, aiming to reach the crucial resistance at $0.84 at the earliest, displaying a different trend from the previous two. While the asset previously had attempted to slice through the upper resistance a couple of times but failed, the MATIC price may witness another rejection in the coming days.
However, the rejection may further incite a catapult action to rise high and reach the immediate resistance at $1.14, surpassing $1.
The MATIC price has risen after rebounding from the lower support levels of the triangle and may head toward the crucial resistance zone. Similar to the previous trend, the price may again face rejection and undergo a minor pullback just before marking its monthly highs above $0.98.
However, after accomplishing a retracement, the Polygon(MATIC) price may ignite a firm rebound at $0.92 and surge beyond $1 before the end of October 2022.
Crypto Market To See Recover Rally Ahead Of FOMC Meeting
After a week-long bear action, it appears that the bulls are trying to enter the market as the overall crypto market is flashing green. However, the global crypto market cap is still under $1 trillion and the world’s first cryptocurrency, Bitcoin is yet to regain its pace above the $20,000 level.
Amidst this unfavorable environment, the US Consumer Price Index (CPI) has suggested that the Federal Reserve’s decision to increase the interest rates will not be sufficient to control inflation. Hence, the central bank is expected to step in with a more hawkish approach.
On the other hand, JP Morgan, the financial service provider, predicts a bullish momentum for crypto. At the time of writing, Bitcoin is selling at $19,357 with a surge of 4.54% over the last 24hrs. However, in the last seven days, BTC has lost more than 13%, while ETH has given up nearly 20% in the last 7 days.
Crypto Market To Drop After FOMC Meeting?
Meanwhile, as per JP Morgan crypto market and the stock markets are about to see the bottom in the coming days while the firm’s global head Marko Kolanovic claims a bullish run for the market. Further, he says that the Fed will continue its decision to increase interest rates by 75 bps during the FOMC meeting scheduled for tomorrow.
Another popular analyst at CNBC, Jim Cramer is of the opinion that the present inflation rate is having a negative impact on equities and corporate earnings. But he also says that as the majority of investors are holding on to low positions, any positive news will push the market.
During tomorrow’s FOMC meeting, the US Federal Reserve is expected to hold on to its hawkish stance and increase its interest rate by 0.75%. On the other hand, analyst Michael van de Poppe expects the interest rate hikes to be around 100 bps.
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Bitcoin Price May Recover Marginally as The US Un-Employment Rate Surges High!
The crypto space has been largely captivated which compels the price to remain consolidated at around $20,000. While the BTC price manages to make it towards the upper resistance, an external factor stikes the crypto space to create roughness. The markets which collapsed with the announcement of the interest rates are also expected to recover as the US employment rates normalize.
A Chief Investment officer at a popular Investment Firm AlphaTraI, recently said that heightened values of the U.S jobs report may create a domino effect in the markets that may drag the BTC price to a 2-year low.
However, the fresh data signifies a growth in employment within the state of the US which may be considered a bullish factor for the crypto space.
As per the report, total US employment increased by 315K against the expected 300K in August. The unemployment rate rose to 3.7% as notable job gains were recorded in professional & business services, health care & retail trade. Further, the US Dollar dropped notably with the release of the data, which is a bullish case for the crypto space.
With the employment rates standing elevated, Bitcoin(BTC) price is also gaining traction as the buying pressure is slowly accumulating. However, some analysts still believe it to be a short-term bounce and the asset may be primed to drop hard after reaching close to $21,000 resistance levels.
On a concluding note, BTC price still appears poised to mark the bottoms below $18,000 before igniting a significant jump.