Bitcoin Price to Have a Bullish September Close-While The Bearish Scenario Still Prevails
For the past couple of days, Bitcoin has been displaying significant bullish momentum, and as a result, the price is currently trading above $19,500 at the moment. However, the price is expected to increase and reach levels beyond $20,500 very soon. The market sentiments appear to have coiled up to some extent, which may enable the price to rise high.
To begin with, the BTC price has formed a bearish ‘H&S’ pattern and was believed to plunge hard, slicing through the neckline. However, invalidating the bearish thesis, the BTC price flipped from the lows and is now heading towards immediate resistance above $20,000. While the star crypto is believed to close September on a bullish note, the bears are well-positioned to hammer the price down.
One of the well-known analysts, il Capo, has been warning about the upcoming price plunge for quite a long time. As per the analyst, the BTC price is primed to pump to $20,000 to $20,500 and later may experience a huge dump, which may be fueled by some external factors. Therefore, the price may reach beyond $20,300, where-in the bears may drag the price lower to the crucial support zone around $18,500.
If the price fails to sustain here, a notable dump may compel the price to plunge below $17,500 in the first few days of October. On the contrary, despite the bearish scenario, Bitcoin is still speculated to hover within a bullish trend as the 172-day ratio has surged above the Ichimoku cloud, flashing bullish signals.
The Ichimoku cloud usually displays the support, resistance, momentum, and trend of the asset in one view. Hence, if the indicator is bullish, the Bitcoin(BTC) price may be primed to rise beyond the initial target of $20,000.
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XRP Outperforms Top Cryptocurrencies, Will XRP Price Hit 1$ By End Of September?
The global crypto market cap has slightly moved upwards by 0.45% in the last 24hrs, yet it is below the $1 trillion mark. This is led by the firstborn currency, Bitcoin which is still fluttering between the $19,000 and $18,000 range.
The flagship currency’s price action has pulled down the majority of cryptocurrencies on a red flag. However, the sixth largest cryptocurrency by market cap, XRP is one among a few altcoins that are seeing a rise in price action.
Ripple’s native currency has now successfully moved past its downward trade which lasted nearly 528 days. Unfortunately, XRP had gained little to less attention during this bear market and now the currency has amazed the crypto community. Also, XRP has turned out to be one of the highest-gaining assets at various times.
At the time of publication, XRP is selling at $0.49 with a spike of more than 12% over the last 24hrs.
XRP Price Gains 62% In A Week
Meanwhile, a pseudonymous crypto analyst and trader known as Cryptoes was one who broke out news via Twitter post along with an XRP chart that consists of 1-day bars from March 2021 to till date.
The month of April 2021 was the time when XRP succumbed to the bear trap and had been struggling since then. Before the altcoin was blanketed with negative trade, XRP had hit a peak of $1.8 in April 2021. After hitting this peak the currency had a drastic fall to $0.52 in July 2021.
However, the present rally has reversed all its previous instability amidst the present bearish sentiment hovering over the entire crypto space. XRP has gained a whopping 52.24% in the last week exceeding most of the top cryptocurrencies.
On the other hand, the US Securities and Exchange Commission (SEC) has filed an appeal at the court for summary judgment for the XRP lawsuit which will see a conclusion to a long-running legal dispute.
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FOMC Meeting on Horizon, Will Bitcoin Form New Lows in September as Bearish Death Cross Haunts the Rally
Bitcoin price appears to be poised to hold above the crucial support zone between $18,800 & $18,200. As Coinpedia reported earlier, the BTC price continues to trade along the neckline of the lower support, intending to rebound finely in the coming days. However, the latest trade-set up flashes huge bearish signals as the price is expected to slice through these levels and register new lows very soon.
The 200-week MA is considered one of the important levels and the BTC price has been constantly failing to regain above these levels. Moreover, the unusual death cross is expected to occur in the next couple of days which could slash the price harder.
As seen in the chart, the BTC price has not tested the 200-WMA more frequently in the recent past. The test happened only a few times in history while the price was busy marking the bottoms of the bearish cycle. On the previous occasions when the price contacted the 200-WMA levels, it bounced off firmly and surged with magnificent numbers.
However, it is slightly diverse now as the asset has markers nearly 10-weekly candles below the crucial 200-WMA levels. Therefore, the probability of a rebound diminishes as the asset is preparing for a massive downswing.
The Bitcoin price is witnessing the first ever Death cross led by a cross of 20-WMA & 200-WMA levels. The 20-WMA levels have crossed the 200-WMA and heading towards the south. While the drop is not yet confirmed, a bearish close for the current week may validate the formation.
Since its inception, the 20-WMA levels traded close to the 200-WMA but never cross the levels. However, if the Bitcoin(BTC) price registers a rebound then the bearish formation may be invalidated. On the darker side, a huge plunge may be expected if the formation is validated which may drag the price below $15000 or even test the levels below $10,000 too.
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Here’s Why Bitcoin (BTC) Price to Withness a Huge Drop of 18% on September 21, 2022
Bitcoin price is currently trading at $19,400.89 with a slight rise of nearly 4% in the past 24 hours. Rekt Capital, a well-known cryptocurrency expert, forecasts that in the worst-case scenario, the price of a bitcoin might fall below $11,500, below the previous low of $13,900.
The historical evidence suggests that the price of bitcoin will progressively decline
According to the graph, which depicts violent combat between bears and bulls, bears dominate over bulls. It is possible to observe that the BTC price is struggling to rise beyond the $20,000 mark, which indicates a shaky signal. The price range of $20,000–$23,350 determines whether an asset is a bear or a bull. With $20,000 acting as a support, price variations show the disparity in buy-side pressure.
September’s price movements were incredibly sluggish, making $20,000 a level of resistance. $17,165 and $13,900 will be the next support levels if the price of BTC drops below $20,000 by the end of the month.
Bitcoin Bottom May Hit $11KSoon
After a Death Cross, historically, the price of Bitcoin (BTC) developed a bottom at or below the 200-weekly moving average (WMA). Retracements following the Death Cross have ranged from -42% to -73%.
Based on prior post-death cross retracements, it is predicted that the price of Bitcoin will bottom out at $13,900. In the worst-case scenario, the cost is anticipated to fall to $11,500.
Given that the price of Bitcoin has dropped below both the psychological milestone of $20,000 and the 200-week moving average, the downside now seems more certain. In comparison to earlier times, there has been a considerable change in the market cap size, liquidity, and institutional and retail adoption of Bitcoin.
In 2015, there were 547 days before the Bitcoin halving, whereas, in 2018, there were 517 days. If BTC is going to bottom out this year, it will happen in the fourth quarter, which is 517–547 days before the scheduled April 2024 price halving.
Macros Influencing the Cost of BTC
Despite an increase in the number of new addresses being established every day, the price of Bitcoin remains to drop below $20,000 on a daily basis.
The Fed rate hype on September 21 will have the most significant impact on the price of Bitcoin. Wall Street experts like Goldman Sachs forecast a 75 bps rate increase in September and a 50bps rate increase in November and December. According to the CME FedWatch tool, there is an 80% chance of a rate increase of 75 basis points.
After rising over 4% from the 24-hour low of $18,390, the BTC price is now trading above $19,400.89. If the USD stays close to 110, the price of BTC will be under pressure.
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After The Successful Merger, What Can be Expected from Ethereum (ETH) in September? – Coinpedia – Fintech & Cryptocurreny News Media
After numerous delays, the Ethereum integration finally happened in the early hours of September 15. When Ethereum’s main net reached “terminal total difficulty,” a predefined threshold at which mining ETH became almost impossible, the network automatically switched to the proof-of-stake consensus method, causing the event to occur.
The upgrade is said to increase the network’s security and scalability, which supports a $60 billion ecosystem of crypto exchanges, loan businesses, non-fungible token (NFT) marketplaces, and other apps. It eliminates the network’s dependency on the resource-intensive cryptocurrency mining process, and it is anticipated to have an impact on the more significant blockchain sector.
The transition from POW to POS will result in an 80% decrease in the number of ethers issued per block. There is potential gain for Ethereum investors, according to experts. While some predict that the price of Ethereum will surge to $10,000, others are still pessimistic.
Effects of mergers on Ethereum price
After the successful Ethereum integration event, there was a significant price swing. The price of Ethereum fell below $1500 as the ramifications of the merger started to be seen. With another Fed rate increase announcement scheduled for next week, the price of Ethereum is anticipated to fluctuate over the next few days.
The price activity has not changed much since last Tuesday. It was determined that the price action’s demise would result in a $1750 hold, which wasn’t apparent. As a result, the price dropped and the action was seen to record lows around $1400.
The shorts would want the price to be restricted to around $1500 while the longs would want the price to break above $1774 which may trigger a swift acceleration towards $2000.
Collectively, new highs are yet to be reached, but they are anticipated to do so in the following weeks. It is expected that September will be a pivotal month for the market.
Although the merger has had a beneficial effect on Ethereum, experts remain dubious about it. Since the integration, the Ethereum(ETH) price has fluctuated and will continue to do so. Investors are advised to exercise caution when handling their assets with rigorous observation & research.
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Shiba INU Price Analysis: SHIB Price Poised to Drop Below $0.00001 in September – Coinpedia – Fintech & Cryptocurreny News Media
- Shiba INU breaks down from the crucial zones that acted as a strong support until now leading to a drop of more than 20%
- Despite the bearish influence is expected to prevail for long, the price can still rise above the descending trend
After erasing all of the previous gains, the price of the Shiba Inu has been circling about the volume point of control, i.e $0.0000118. The volume point of control is the highest traded volume for the selected sector.
According to the graph, Shiba traded at its biggest volume between mid of April until August 2022.
Shiba Inu price prepared for a swift plunge
After flipping, the Shiba Inu price stabilized above the $0.0000118 support level for a while before beginning a 50% surge.
After Shib violated this confluence during the previous trading day, the beginning of the downtrend was validated.
If the trend continues, Shiba Inu will drop by nearly 25% and trade between $0.0000083 to $0.0000093. This action may appear bearish in the short term, but it will lay the groundwork for the long-term bullish play.
It’s amusing to watch how the price has steadied at this stage. The next objective could be somewhere around $0.0000180. Since the price could form the triple top or reverse down, the profit level can be around these levels for an extended period of time with a brief 43% uptick.
A decrease in the weekly support level at $0.0000087 is anticipated if the point of control collapses. Price either holds above $0.0000118 and surges to $0.000028, or price breaks through the point of control and drops to $$0.0000083 or $0.0000093.
Shiba price usually surges by 50%, 60%, or 70% in a day or two, then reversing down. And if this plays out well, then the price could fall by 7.46% by the end of September. Presently, the price has dropped by 2.61% over the past 24 hours & now trading at $0.0000117.
In conclusion, Shiba Inu’s ability to produce a daily candlestick close above the $0.0000118 threshold will signal bearish weakness. The negative forecast would be invalidated if this barrier were to reverse into a support floor. This development could cause the Shiba Inu price to rise before it should.
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This is Why Bitcoin (BTC) Price Might Drop 20% by End of September
The crypto winter is not letting Bitcoin (BTC) build an upward momentum as Bitcoin had its most significant drop in three months on Tuesday. Bitcoin fell nearly 10% when the August US Consumer Price Index (CPI) report gathered experts’ attention. It builds a fear among investors as the Federal Reserve may increase interest rates for the third time this year amid crypto winter.
Correlation With S&P 500
Bitcoin’s price drastically dropped with S&P 500’s price drop as it fell by 4.5% and came below $4000. On Chain data analyzer Santiment said,
“After a brutal #CPI report on disappointing inflation news Tuesday, #Bitcoin fell alongside the #SP500‘s biggest daily drop in two years. The correlation between the sectors remains high, and #crypto typically thrives best with zero #equity reliance.”
Bitcoin has been correlated with S&P 500, and it is expected that Bitcoin will drop further if it continues to follow equity markets.
Bitcoin Might Drop By 20%
The correlation between crypto and tech stock is getting deeper. Bitcoin price is likely to drop by another 20% to $16,000 following S&P 500 as it can drop by 2% more when the US equity market opens. Jurrien Timmer, director of the global macro at Fidelity, commented, “If a 14x forward multiple is the correct valuation, then simple math will tell us that the fair value for the S&P 500 is 3200-3400 at an EPS of $230. This suggests that this bear market is not yet over.”
The Bitcoin Fear & Greed Index slipped from 34/100 to 27/100 as overall US stocks fell by $1.6 trillion in one day, which is more than four times Bitcoin’s market capitalization. However, Bitcoin is yet to enter the “extreme fear” zone, which indicates that Bitcoin has the support of some investors. Following S&P 500’s drop, Dow Jones had a sharp fall of 3.87% and touched $31,163.99. On the other side, the tech-heavy Nasdaq fell by 3.76% to $61.68.
According to CoinMarketCap, Bitcoin had fallen from $22,814 to $20,132 yesterday. Bitcoin is currently trading near $20K with a market cap of $387 billion. It is proved once again that the inflation report has stopped Bitcoin from breaking its resistance at $22K, which could be a turning point for BTC.
The stock market has influenced the crypto space as Elon Musk-backed Dogecoin also dropped 5.85% on Tuesday, trading at 6 cents. Ether fell by $7.96% and was trading near $1,586.92, and popular crypto exchange Coinbase had a steep decline of 8.61% to $75.44.
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Create a meow-tastic portfolio this September 2022 – The things that make the novel Big Eyes Coin, Hex Coin and Polkadot cryptos unique
Cryptocurrency is becoming popular and more celebrities are getting involved, the Sunday the Video Music Awards (VMA’s) brought two popular rappers to perform in their Bored Ape NFTs. Eminem and Snoop Dogg gave a wild performance that created hype in cryptocurrency, a much-needed event after the 2022 plunge.
And as crypto is gaining traction, we’ve also researched some we think might be special to you. This article will look at what makes Big Eyes Coin (BIG), Hex Coin (HEX) and Polkadot (DOT) unique amongst the sea of crypto we see today.
Big Eyes Coin (BIG)- a special feline
Big Eyes Coin (BIG) is a cryptocurrency that has a cat as its meme, this is in stark contrast to the dog-based meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB). Big Eyes (BIG) is also a cat that uses its cuteness to save our world’s oceans today.
It’s a utility and community-based coin which nurtures sharing and teamwork within its ecosystem. Big Eyes Coin (BIG) allows for tax-free shopping and but it also has a strong dynamic tax system.
This permits changes in the ecosystem that range from auto burn functions to marketing wallet and LP acquisition. A visible charity wallet holding is in place so that 5% of coins go towards saving the oceans; this amounts to 5 billion coins!
Big Eyes Coin (BIG) has the Big Eyes Swap, how-to’s, back-end systems and tutorials to simplify the process of understanding decentralized finance (DeFi). Not many cryptos take their time to teach you about crypto as you purchase them.
70% of the total 200 billion Big Eyes Coin (BIG) are for presale now, this is an innovative coin and its presale price is affordable. To read up more on Big Eyes Coin’s (BIG) decentralized finance (DeFi), click this link or click here to see its NFT dexterity.
Hex Coin (HEX) magic!
Hex Coin (HEX) is a cryptocurrency based on Ethereum (ETH) launched in 2019 as a financial tool. Hex Coin (HEX) is a utility token of type ERC-20. Hex Coin (HEX) is also a store of value created as a substitute for the Certificate of Deposit. Hex Coins (HEX) are made to give interest to individuals who risk their coin assets. Hex Coin (HEX) is unique because Hex Coin’s (HEX) also act as a free airdrop for Bitcoin (BTC) holders. This makes Hex Coin (HEX) different from an initial coin offering (ICO) as Hex Coin (HEX) doesn’t need you to pay for anything.
Hex Coin’s (HEX) security is based on Ethereum’s (ETH) security, this allows Hex Coin’s (HEX) transactions to happen faster and cheaper compared to Bitcoin’s (BTC) transactions. Hex Coin’s (HEX) proof-of-stake (PoS) also gives Hex Coin (HEX) more decentralized hashing power than Bitcoin (BTC). The disadvantage of Hex Coin (HEX) however is that Hex Coins (HEX) are numbers in a distributed database. This means a Hex Coin (HEX) isn’t technically a coin.
Polkadot (DOT)- not just crypto dot’s
Polkadot (DOT) is a decentralized and open-source blockchain made by Gavin Wood, an Ethereum (ETH) co-founder. The native Polkadot (DOT) token is the powerhouse of the network and unlike Ethereum (ETH), it maintains its interoperability with different blockchains.
Polkadot’s (DOT) mass interoperability feature using a set of common validators to secure its different blockchains make it unique. This allows it to scale the respective transactions through the spread of data across different parachains.
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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Is Cardano Price All Set For Bull Run In September? Here’s What Next For ADA Price – Coinpedia – Fintech & Cryptocurreny News Media
Even after the recovery, the cryptocurrency market saw recently, the sentiment of traders and investors is still built around extreme fear as the correction in the market does not seem to be ending. However, some cryptocurrencies like Cardano, are still managing to show a positive dynamic despite the chaos around them.
By mid of this month, Cardano (ADA) will be launching its new Vasil hard fork. Notably, the blockchain also registered a commendable performance during the past week by gaining more than 5% in the last seven days.
With this gain, it clearly outperformed several other cryptos with higher market capitalization, including Ethereum (ETH) which is set for its Merge in mid-September. At the time of writing, ADA was trading at $0.4937.
Is Bull Rally possible for ADA?
The Vasil hard fork, which has been delayed for quite some time now, is finally scheduled to go live in mid-September. This has sparked quite a lot of excitement in the Cardano community. While the development and testing for the hard fork are still on, Input Output Global tweeted a few updates regarding the same recently.
Charles Hoskinson also came forward to comment on the story and tweeted about how Cardano was at its best despite a plunge in its price last month.
Hoskinson said, “A universal truth about crypto is that the markets are disconnected from reality.”
More interestingly, a crypto influencer Dan Gambardella recently indicated a possible bull rally for multiple coins, including ADA.
According to Dan, the current market condition is somewhat similar to the 2018 bear market, building up an opportunity for a price surge soon.
Do the Metrics Justify ADA’s Growth?
Although the developments in the community and statements from officials and influencers seem quite promising, metrics paint this picture. ADA’s Market Value Realized Value (MVRV) ratio surged slightly compared to last week. This may be hinting at a possible uptick.
Also, the daily active addresses have also increased since the beginning of August, indicating the users’ presence on the network.
Despite ADA’s recent gains, which seem bearish, the on-chain transactions in profit declined. Development activity, and social volume, also followed a similar downward trend. This might prevent ADA from moving up further in the short term.
Cardano Seems To Be Breaking Through
As of September 8, ADA’s four-hour chart also told a debatable story. Some indicators had pointed towards a hike while the rest indicated the opposite.
For example, the EMA Ribbon displayed a reduced gap between the 20-day and 55-day EMAs, which is clearly a bullish signal. Moreover, the Moving Average Convergence Divergence (MACD)’s data also hinted the same as the blue line above the red.
However, the latter was fast approaching the prior, due to which the chances of a bearish crossover soared. The Relative Strength Index (RSI) was in a neutral position, hinting that the market could be heading anywhere.
On September 4, ADA finally broke the local resistance level on the ADA/BTC pair. The breakthrough of the ascending triangle was a necessary condition for the continuation of ADA’s growth in the market.
In addition to breaking through the patterned resistance level, Cardano has also managed to move past the 200- and 50-day moving averages that usually pose as a strong barrier for any of the assets in a downtrend.
If ADA manages to keep up the same growth pace for a few days more, the market will most likely see the emergence of a much-needed bullish signal.
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PLC Ultima is the most undervalued cryptocurrency in September 2022
S mart contracts are one of the driving forces behind the PLC Ultima blockchain! They ensure that the profit is being received by the user! Let’s figure out what a smart contract is. A smart contract is a program guaranteeing the security of a transaction for both parties. The program is embedded in the contract between users. It checks whether the terms laid down in the contract are met and transfers funds only, if this is the case.
A smart contract is a digital analogue of a conventional legal contract, but with many advantages:
➡️ ️ works autonomously;
➡️ ️ does not require the participation of third parties;
➡️ ️ cannot be lost, as it is “built” into the blockchain and thus is virtually immortal;
➡️ ️ doesn’t take money for the work it provides.
In the PLC Ultima blockchain, minting begins only after the smart contract conclusion — this ensures the user will receive all minting transactions supposed by the smart contract terms.
* Thanks to digital certificates, users have the possibility of minting. Since the market is always in need of coins. Users then are at leverage, offering coins to the crypto market and making a profit.
* The PLC Ultima team continues to actively burn coins, which also raises the value of the newly generated coins.
* Your newly generated coins may be swiftly and safely spent, transferred, kept, and used in further transactions. The user is the only one who owns his coins, and only he is in possession of all the information required to re-establish access to his wallet.
It’s easy. On the Ultima Farm App you freeze a predetermined quantity of coins, which are then utilized to create new coins and provide you a guaranteed payout with the excess you have generated.
* The founder of PLCU, Alex Reinhardt, is sure that the product’s distinctive environment, which has already attracted more than a million users, is the key to the company’s rapid success.
* The number of individuals learning about PLC Ultima grows every week. The initiative is becoming increasingly well-known in the media, and the community is expanding daily with more than a million of active users.
Expert traders and investors are aware that the greatest time to purchase is during a bear market. It’s the ideal moment to make long-term investments right now because the real price is far lower than the fair value.
Is it truly safe?
It is a potent ecosystem that combines cutting-edge items that are unmatched on the cryptocurrency market! It has its own blockchain, a special crypto-debit PLC Card that combines cryptocurrency and fiat in today’s world, its own marketplace, and a crowdfunding platform.
A group of world-class blockchain experts who have been working on blockchain and cryptocurrencies for more than ten years are creating PLC Ultima. Ready with solutions to avoid all forms of hacks and clones.
In addition, PLC Ultima has some exciting news to share shortly including the power of more than 1.500.000 community members.
Be quick!
PLC Ultima serves as a link between conventional commerce and the cryptocurrency realm. PLCU provides cutting-edge business solutions that let entrepreneurs sell their goods for cryptocurrencies and engage with a worldwide community of cryptocurrency aficionados.
Despite the situation on the world markets, the PLCU rate shows positive dynamics and is actively growing and will break the Binance market.
No boundaries, no class, no specific locations. Just your desire to break the financial market.
Visit the PLC Ultima official website and get started. Be a Creator of wealth.
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TerraClassic(LUNC) Price To Multiply Soon, Aims to Enter Top 20 This September – Coinpedia – Fintech & Cryptocurreny News Media
TerraClassic with the recent price action is now the top performer that underwent a strong recovery and placed itself within the top 30. The price dropped heavily after its algorithmic stablecoin lost its peg. Moreover, Do-Kwon, the founder’s rescue plan also did not have a major impact on the LUNC price.
Meanwhile, the LUNC community in recent times has geared up, and subsequently, the asset now enters the top 30, which once cemented above 200. Now when the LUNC price is done with a short-term correction and began with the massive surge, it may probably place itself within the top 10 in the coming days.
Presently, the asset has marked new highs, beyond $0.00054, and is believed to maintain a notable upswing until the day’s close.
Ever since the price began surging high, it maintained its trend within an ascending broadening wedge which is generally considered a reversal pattern. However, the pattern also broadly signifies a rising parallel channel and hence may not inculcate a bearish behavior to a large extent.
On the other hand, more platforms have now jumped in support of the proposed 1.2% tax burn proposal which may highly impact the circulating supply of the asset. As Ethereum’s price after EIP 1559 upgrade maintained a stable price action, TerraClassic (LUNC) price is also expected to follow a similar trend to become a deflationary asset.
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Uniglo (GLO) Selects Paladin As Their Auditor. Bitcoin (BTC) Could Swing Back To 25k, And Fantom (FTM) May Shine In September
The cryptocurrency market is still in its nascent stages, and companies need sound and reliable auditors. There are many reasons why Uniglo (GLO) has selected Paladin as their auditor. Paladin is a highly respected and well-known firm in the cryptocurrency industry with an excellent reputation, accuracy, and professionalism.
Bitcoin (BTC) prices have been on a roller coaster in the last few months. The prices started to correct in August, and many analysts believe that the prices could potentially swing back to 25k levels in September. The volatility in the market is still high, and it is essential to monitor the prices closely.
Fantom (FTM) is another cryptocurrency that may shine in September. The coin prices have been steadily increasing and are currently trading at $0.22. The coin has a market capitalization of $68 million and is ranked 154th on the list of top cryptocurrencies.
Uniglo (GLO) Chooses Paladin
It is volatility that makes cryptocurrency a risky investment. However, this is also what makes it exciting to trade. The key is finding the right coins at the right time to invest in.
This is where Uniglo (GLO) comes in. A brand-new deflationary currency called Uniglo is supported by other cryptocurrencies, digital gold, NFTs, and several illustrious or valuable items and is designed to fight the volatility of the crypto market. The second presale phase for Uniglo recently went live to encourage early participation and offers a 2.5% bonus.
As previously noted, a basket of assets is used to back this new coin, stabilizing its price and guarding against volatility. Uniglo will burn a percentage of each transaction thanks to its ultra-burn mechanic and lessen the available $GLO tokens on the market. This should contribute to steadily raising the value and creating deflationary nature.
Due to Uniglo’s belief that the audit would assist them in obtaining the top position in the market, they have chosen Paladin as their auditor.
A reputable company with a strong track record, Paladin, is well-known and respected in the industry. Consequently, demand for Uniglo will rise even more, and there are plenty of excellent historical examples.
Will Bitcoin (BTC) Swing Back To 25k?
In the last few months, we have seen the market swing from one extreme to the other. Bitcoin (BTC), the world’s biggest cryptocurrency, has also fluctuated lately. However, analysts have started to believe that BTC can swing back to $25,000 in the next few months. The coin’s fundamentals are still strong, demand is still high, and the supply is tight. Thus, we could quickly expect Bitcoin to return to its previous highs when the market corrects.
Fantom (FTM) Has A Bright Future
Fantom (FTM) is another exciting crypto initiative that could do well in September. The reason for this is mainly its mainnet’s launch scheduled for September. This is a highly anticipated event, and it could increase the price of the coin.
Fantom unveiled a significant incentive scheme a few weeks ago to reward DeFi developers. The company has encouraged developers to build on Fantom and funded them with more than $300 million. This statement caused a significant increase in FTM pricing and is seen as highly positive news for the future of Fantom.
Overall, famous Fantom and Bitcoin are getting back to their tracks, while newcomer Uniglo is just raising awareness across the industry. With bulls expected to arrive in the coming months, Uniglo is set to join the Ethereum network with tremendous success.
For More About Uniglo:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Telegram: https://t.me/GloFoundation
Discord: https://discord.gg/a38KRnjQvW
Twitter: https://twitter.com/GloFoundation1
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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Here’s Why Bitcoin (BTC) Price May Fall Below $15K in September – Coinpedia – Fintech & Cryptocurreny News Media
As the crypto market declines below $1 trillion, the price of Bitcoin (BTC) slips below $19,000. The price of the largest cryptocurrency is still fluctuating between $18,000 and $24,000, which keeps investors on edge wondering where the price will go next.
After the latest sell-off, Bitcoin was unable to recapture the $20,000 mark. The likelihood of recovery is dimmed by weak macroeconomic conditions, bearish sentiment, and a significant selloff in whales and mining stocks. These indicators are present when Bitcoin’s market share falls to an all-time low.
Will BTC Price Rise above $20k?
According to Glassnode data, the amount of Bitcoin supply that was held in reserve for more than a year has risen to a new all-time high of 12.589 million. Therefore, around 66% of the supply that is now in circulation is inactive. Additionally, the growing latent supply is a sign of a bear market. It indicates that the bear market for the price of Bitcoin (BTC) has gotten worse.
Recently, a number of inactive whale addresses have started trading their Bitcoin (BTC) holdings. A whale that had been dormant for seven to ten years old 5000 BTC in a single block, and a whale that had been asleep for nine years sold 5000 BTC to the cryptocurrency exchange Kraken. After several years, the movement of inactive bitcoins is a significant bearish indication.
Dormant whales and miners may be selling their BTC holdings to cause the next Bitcoin decline. Additionally, September appears to be a poor month for Bitcoin once more as BTC options and futures expiry will see liquidations.
Most likely, the price of Bitcoin will drop below $15,000. In the past, the price of one bitcoin has fallen to the $14,478 delta level. Peter Brandt and Big Cheds, two well-known analysts, previously issued a warning that the BTC price runs the risk of dropping to $13k because there is no solid support below $19K.
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TerraClassic(LUNC) Price Dropped Nearly 20%, Yet Seems to be Preparing for Another 60% Spike This September – Coinpedia – Fintech & Cryptocurreny News Media
Terra Classic price in recent times has made the biggest comeback since the crisis by recovering remarkably with a jump of more than 37,000%. Mainly after the proposal to implement a 1.2% token burn tax on all the transactions, the LUNC is closer to becoming a deflationary asset very soon.
With the bearish clouds floating over the crypto space, the LUNC price is experiencing a slight downfall that compelled the price to drop more than 20%. However, the market sentiments still remain bullish and after a brief consolidation, the price is set to take off towards the next target very soon.
The LUNC bulls after a significant spike appear to have exhausted slightly and may soon become active as the price reaches the local bottoms. Therefore, the price may continue to consolidate for a couple of days before breaking out towards the next target. If the asset follows the upper trend line, then the next resistance to test would be around $0.0005355, which may be accomplished before the end of the weekly trade.
On the other hand, more platforms are jumping in support of the 1.2% Tax burn proposal of Terra Classic. While the asset is approaching becoming deflationary, in simpler terms, the issuance of new coins will be less than the tokens being destroyed in 24 hours, LUNC price will be due to a massive rally in the coming times.
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MEXC Will List Web 3.0 Infrastructure Project Point Network on September 5
On September 5, the Web 3.0 infrastructure project Point Network (POINT) will be listed on the world-renowned cryptocurrency trading platform MEXC. The heading on the website is: “World’s First Full Web 3.0 Implementation”. What do they mean?
First, what is Web 3.0? At this time last year, a16z, Coinbase, and their counterparts had tried to define “Web 3.0”. The most popular streamlined definition is: “read+write+own,” which is relative to Web 2.0 and Web 1.0.
In 2014, Gavin Wood, the co-founder of Ethereum and founder of Polkadot, coined the term. In his own words, “Web3 is sort of an alternative vision of the web, where the services that we use are not hosted by a single service provider company, but rather they’re purely algorithmic things that are, in some sense, hosted by everybody… The idea being that all participants contribute a small slice of the ultimate service”
And the Point Labs’ definition is simple: “Web 3.0 is a decades-long dream of technologists about the next generation of the internet, designed to be without any central point of control on any level, and thus completely resistant to censorship and mass-surveillance. Bittorrent decentralized file sharing, Bitcoin decentralized money, and the real Web 3.0 is supposed to decentralized the rest of the internet.”
Unfortunately, Point Labs founders claim, people wishfully conflate the dream of Web3 with reality, as if it’s already here. Most of the “decentralized” applications are still relying on centralized infrastructure, such as domains, storage, SSL certificates, and so on. This has become obvious last month, from popular Ethereum gateway eth.link expiring, to curve.fi nameservers compromised, to the storm of news about Tornado Cash censorship by many dApps and projects that were supposed to be decentralized and uncensorable. In real Web 3.0, this could not have happened.
Point Network is a project designed for radical decentralization of every major component of the internet stack. It does not rely on centralized infrastructure, such as storage, domain names, etc, and instead uses decentralized alternatives for each layer: the .point domains are on Point Chain, the storage is on Arweave, and the native access is achieved by having their own web3 Point Browser, with Point Wallet integrated. On Point Network, developers can build decentralized identity solutions, decentralized social networking, and many other applications–the “Roadmap to Web3” vision scrolls many screens to the right.
According to the official information from Point Network, the backers of the project include Sino Global Capital, Arweave, FTX, Chorus Ventures,and Prycto, among others. POINT is a utility token, which is used for gas fees on this new network, but also can be applied to a variety of other web3 use casesFor example, it can be used to pay for native blockchain subscriptions to content creators, paid content on decentralized communities, as a micropayment for storage when uploading content, and so on.
They have just launched the mainnet on September 1, and trading of POINT starts on MEXC on September 5.
Curious? Find out more about what they’re doing at pointnetwork.io
About MEXC：
MEXC is the world’s leading cryptocurrency trading platform, providing one-stop cryptocurrency trading services for spot, ETF, futures, Staking, NFT Index, etc., and serving more than 7 million users worldwide. The core team has a solid background in traditional finance and has professional financial product logic and technical security guarantees in terms of cryptocurrency products and services. In October 2021, MEXC Global won the title of “Best Cryptocurrency Exchange in Asia.” Currently, it supports the trading of more than 1,400 cryptocurrencies and is the trading platform with the fastest launch speed for new projects and the most tradable categories. Visit the website and blog for more information, and follow MEXC Global and MEXC Research.
Contact:
Company Name: MEXC
Name: Jenny Sun
Email: [email protected]
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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Long-Term Holders Continue To Buy Bitcoin! Will September Bring Ray Of Hope To BTC Investors?
It is time to start adding bitcoin again to your investment portfolio despite the downtrend. This is the message from long-term holders and investors, as a bulk of Bitcoin holders have been holding BTC for more than a year amid the uncertainties of the bearish crypto market.
In addition, some analytics firms remain bullish on Bitcoin’s future price actions as BTC could be undervalued at the $20K price level.
Bitcoin Is In Accumulation Mode
The Puell Multiple is a tool that measures one-year revenue growth among Bitcoin miners. According to CryptoQuant analysts, the daily issuance of BTC in U.S. dollars by the 365-day average ratio has placed bitcoin in a green zone with a reading of 0.5.
This means that newly minted Bitcoins are currently undervalued, making a perfect buying opportunity to gather more bitcoins for a tremendous return on investment (ROI) in the long run.
CryptoQuant said, “The macro environment is not supporting the bitcoin price as USA economic data is still coming worst than expected. Economic activity is decelerating faster than expected.” According to data, 62% of wallets have held Bitcoin for more than a year.
However, 32% of wallets sold their assets within a year. Last but not least, only 6% of holders have kept their Bitcoin for a month. The CryptoQuant analysts confirmed that a price bottom is probably at a far distance to be formed, citing fundamental concerns.
According to CoinMarketCap, Bitcoin is trading near $19.7K, down by 0.35% from yesterday. However, Bitfinex’s analysts stated, “This persistent accumulation of bitcoin throughout bear markets demonstrates the numerous holders’ strong commitment to and long-term belief in cryptocurrency.”
The analysts said the number of bitcoins stored by investors had touched a record 12.92 million. The number of wallet addresses holding between 1-10 bitcoin is nearly 750K and still rising.
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Will TerraClassic (LUNC) Price Slash a Zero this September?
TerraClassic price is currently invincible as the asset is gearing up to regain the lost levels at the earliest. As Coinpedia has reported earlier, the LUNC price is displaying a similar price movement and healing strongly towards $0.00035. The price is currently trading very close to $0.0003 and as the selling pressure is negligible, the probability of rejection is fewer.
The LUNC price has raised by more than 135% in the past week and appears to repeat a similar upswing through the current week. The asset has just broken above the bullish pennant and hence may undergo an upswing of nearly 20% in the next couple of hours. Therefore, if the price manages to close to the day’s trade above $0.0003, then may forecast a significant bull run ahead.
The LUNC price in the short-term, sliced through the apex of the symmetrical triangle and raised high looking to retest the resistance at $0.0003 at the earliest. However, the LUNC may experience a slight pullback in the next 2 to 4 hours as the RSI is hovering above the resistance and may tend to drop slightly before pulling the next leg up.
In an interesting update, one of the popular exchanges, FTX in a recent announcement suspended the deposits & withdrawals for LUNC & USTC. Moreover, the platform will also delist Anchor Protocol(ANC) for the Spot & Future trades from September 12.
However, the Terra Classic (LUNC) price does not appear to be impacted by any odds within the crypto space. Therefore, may continue with a firm upswing until it squashes a zero from its value soon.
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Crypto Market Outlook For September 2022! Is Worst Yet to Come? – Coinpedia – Fintech & Cryptocurreny News Media
The history of the crypto markets over the past 12 years is being examined by a well-known analyst to predict how this month’s performance of digital assets is likely to pan out.
Popular cryptocurrency trader Benjamin Cowen informs his 766,000 YouTube subscribers in a new video update that Bitcoin (BTC) has seen bloodshed in nine out of the last twelve September.
As per analyst “If we go back and look at all the prior Septembers, just going back to 2010, you can see in fact that all but three of them have been red and the only ones that were green gave about 2.5% move to the upside, a 6% and a 15% move to the upside.”
In comparison with ETH, Cowen claims that the historical data for Ethereum (ETH), the most popular smart contract platform, also exhibits a similar tendency.
“We could also take a look at other things, like Ethereum, and question whether those are producing the same kind of results, and generally that is correct statistically.”
Cowen predicts a -12% movement for ETH in September. He categorically specified that not all Septembers are red. However, historically speaking, couple of Septembers were in green, but on average, you would expect it to be red.
What September Looks like For Crypto Market?
Looking at the trajectory of the total market capitalization of cryptos, Cowen analysed the prior year’s data and demonstrated the historical September woes of the asset class.
Looking at the data, he said that the only month that has experienced a decline since 2010 is September.
The last time September was positive for the entire asset class was in 2016 and 2015. However, September has not been a terrific month for the last five years.
If you look back to say 2017, the average return in September is approximately 7.5% to the downside. In the past, September has not been a favorable month for cryptocurrency.
Do we absolutely need a red month as a result of this? No, it does not, and the reason for this is that just because something occurs frequently, it does not necessitate that it also occurs frequently.
Although the overall trend in cryptocurrency has been bearish during September, Cowen points out that it’s still feasible for the crypto market to end the month in green.
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Crypto Market Could Face a Merciless September! Here’s What Traders Can Expect
Since 2017, September has proved unfortunate for the crypto space as the markets have seen a decline, and Bitcoin has repeatedly buckled under pressure. According to recent studies, during the previous five years, the monthly decline in the value of Bitcoin has averaged 8.5%. The second-largest token, Ether, has battled this too; it has only increased 25% of the time and typically declined by double digits.
Now, a well-known cryptocurrency trader is voicing a gloomy outlook for Bitcoin (BTC) and the bigger digital asset markets.
After examining the wider market turmoil, it is clear to see that the entire crypto space is juggling and battling macroeconomic factors. Trading and investing will be challenging in September due to market “indecision,” according to cryptocurrency analyst Jason Pizzino, who has 275,000 YouTube subscribers.
Indecision will rule September
As predicted by the analyst, these are some of the most challenging moments since they can be turbulent and rough.
Additionally, he noted that investors can fake ups and downs, believe that the market would rise without them, succumb to FOMO, or sell out due to FUD, or fear, uncertainty, and doubt. Investors may be the most hard hit by all of these factors in September.
You can hopefully save a lot of money, pain, and mental energy if you can take out the time to examine investments properly and brace yourself for the uncertainty that is to come.
No gain, No Pain!
The analyst claims that there will not be any “explosive gains” in the near future due to the continued bad crypto market.
“Bear is still alive. Therefore, this is flipping, albeit there may be some reduced prices.”
He also stated that he does not foresee the possibility of any significant benefits. He also mentioned that there is currently no chance of Bitcoin reaching a price of $40,000 or higher.
“If that happens, I’ll be glad to be wrong and I’ll probably make some money because I assume it would go away once more.”
However, based on historical data, he projected that September will not see any significant gains.
The worst for Bitcoin, according to Pizzino, is over since a bull market will soon return.
“I believe that Bitcoin may have already experienced its worst. Clearly, the bull is approaching.”
At the time of writing, the price of bitcoin is $19,922.
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Shiba INU Price Predictions for September, Where Will the SHIB Price Head to This Month?
Shiba INU (SHIB) price traded in thin air throughout the summer, while the gains incurred during the recent upswing also remain void at the moment. Despite following a consolidated ascending trend, the asset fails to display a strong projection for the month. The SHIB price fell sharply over the past 7 days, below the crucial 50-day MA levels. Hence flashing acute bearish signals for the month.
The on-chain indicators indicate the asset’s market sentiments have been on a rise but indicate an acute bearish trend could be imminent.
Huge Drop in the Daily Active Address
Shib INU price is registering frequent spikes in the daily active address could point out towards the holders onboarding their coins onto the exchanges. This could adversely impact the price as an inflow into the exchanges could be to sell the asset.
Millions of SHIB Moved out of Dormant Address
Recently, a huge amount of SHIB was let out for circulation that was dormant for quite a long time. Nearly 1.54 trillion SHIB tokens were removed from moved after being dormant for nearly 6 months.
Slight increase in the Social Volume
Shib INU is a popular asset when it comes to social mentions and social sentiments. Lately, the asset witnessed a marginal increase in social dominance that appears to be due to its upcoming game Shiba Eternity & burning of millions of SHIB tokens.
Considering the above indicators, Shiba INU(SHIB) price appears to be poised to decline significantly in the next couple of weeks. The asset which is trading at around $0.00001225 could plunge below $0.00001, hitting $0.0000098 which were July’s lows. However, on the brighter side, the bearish theory may be invalidated if the price rebounds above $0.000017, indicating another rise in September.
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Here’s Why Crypto Markets Could Remain Highly Volatile This September!
In recent times, the Bitcoin price reacts to almost all of the economic updates released by the Fed Reserve. The latest addition to the list is the US Employment data which had a short-lived impact on the BTC price. Therefore, if the crypto space continues to react in either way to all the announcements, the volatility may remain high through September.
In the meantime, the bulls may remain aloof as the uncertain market movements may not be in their favour.
While the crypto space is expected to get a larger boost amid the upcoming Ethereum Merger and the recently announced date for Cardano’s Vasil Hard Fork, the CPI data, FOMC rates, etc may haunt the rally ahead. Therfore, below mentioned are the key dates to keep a close watch on in September:
- September 13:- CPI Data
- September 15:- Ethereum Merger
- September 16:- Mt. Gox Claims Deadline
- September 21:- FOMC rate hike decision
- September 22:- Cardano Vasil Hard Fork
On the contrary, Bitcoin’s (BTC) price has historically been bullish in the Q4 trade almost every year. As per a popular analyst, the asset has recorded a nearly 60% return in Q4 after a huge dump of an average of 30% in September.
Therefore, as the yearly close approaches, Bitcoin tends to increase its volatility which may further rise the price towards the speculated target ahead. The BTC price may however find new lows in September but appears to be primed to bounce back effectively by the end of the year.
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On-Chain Metrics Hints Shiba Inu (SHIB) Price Might Plunge To $0.00000976 In September – Coinpedia – Fintech & Cryptocurreny News Media
Shiba Inu had been showing a bearish trend over the previous few weeks, but it just reversed the trend and attempted to show a positive one this month. The coin is clearly displaying a fresh trend and a brief uptrend.
As a result of the bears rejecting the infamous meme coin from the 8-day simple moving average, the Shiba Inu price is currently bidding at $0.00001204. Despite the fact that the bullish countertrend rally is still ongoing, a few underlying factors point to a negative foothold.
The number of daily active addresses for the SHIBA coin has significantly increased recently, according to Santiment’s Daily Active Addresses. Whales may be onboarding their SHIB tokens to exchanges with plans to sell them shortly, based on the tiny increase from 4,600 to the current reading of 6,200.
Dormant tokens hit peak
The first week of August saw a significant influx of dormant tokens hitting the market, which also affected the SHIB price. The indicator showed a rapid transfer of 130 million tokens that had not been moved in the previous two years. This is a highly alarming warning because, statistically, increases in the number of tokens in circulation typically lead to sharp declines in the value of cryptocurrencies.
Last but not least, the price of Shiba Inu has increased across all social media channels. This can be seen as a negative indicator because social dominance performance nearly doubled over the summer compared to the spring.
In conclusion, the price of Shiba Inu might trigger a catastrophic fall. The liquidity under the July 13 low at $0.00000976 stands a good likelihood of being breached based on technical and on-chain measures.
If $0.00001700 is breached, the bearish premise is refuted. The next Shiba bull run, with targets in the $0.00002400 region and a 100% increase from the present market value, could be sparked if the bulls can break through this level.
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Cardano Vasil Hardfork Finally Scheduled on September 22nd ! – Coinpedia – Fintech & Cryptocurreny News Media
Input Output, a Cardano developer, has announced that the highly awaited Vasil upgrade will occur on September 22. After “extensive testing” of all key components, the business was able to publicly declare the date. Technical issues forced numerous postponements of the Vasil upgrade, which was first scheduled to happen in June.
The Vasil hard fork, according to Input Output, is the biggest upgrade to date because it will significantly increase the network’s capacity. Additionally, Cardano developers will have the ability to create more complex decentralized applications.
The Vasil Upgrade is named in honor of the late Vasil Dabov, a devoted Cardano community member. It seeks to strengthen the Cardano network and raise its general efficiency. Additionally, the Vasil Upgrade will reduce block interaction latency while boosting Cardano’s script’s throughput and efficiency.
To proceed with the upgrade, Input Output required to confirm that at least 75% of mainnet blocks were being generated with node version 1.35.3.
In addition, it has to integrate with about 25 exchanges, which together account for the majority of ADA token liquidity and the biggest decentralized applications in terms of total value locked.
Due to the fact that Cardano is now performing “good” in relation to all of these indicators, the hard fork date has been formally confirmed.
Robinhood Announces Cardano listing
Just as the chain is getting ready for the crucial Vasil upgrade, Cardano has now been listed on Robinhood’s platform, the company said in a statement on September 1.
Users of Robinhood have access to trade the ADA and get exposure to its spot price on the same day. According to Robinhood, the platform included ADA because of demand.
The Robinhood listing happens as Cardano gets ready for the eagerly awaited Vasil upgrade. The mainnet update, which was originally planned for July, was postponed in order to address bugs and guarantee the rollout of a stable upgrade.
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Here’s Why Bitcoin (BTC) Price Might Consolidate Within $17,567 Level in September – Coinpedia – Fintech & Cryptocurreny News Media
In spite of increasing volatility and market pressure, Bitcoin (BTC) struggles to stay above the $20,000 threshold. Additionally, the direction of the market in the upcoming months will be determined by the U.S. Fed rate hike on September 21.
Rajan Dhall, an analyst for Kitco News, says that $25,066 is one of the important essential levels to watch for since it will indicate a chance of recovery and provide a way out of the prolonged bear market.
If Bitcoin has any chance of reaching this level, it should go for $21,760 first and rely on the bulls to hold the position. On the other hand, if bears continue to be strong, Bitcoin may consolidate to a low of $17,567.
However, it is important to note that Bitcoin has seen a small increase following the US employment news. Of note, 315,000 were added in August, which was slightly more than anticipated given the rising interest rates and the weak economic expansion.
By the time of publication, Bitcoin was trading around $20,117, up nearly 3% over the previous day. The improvements also contributed to the cryptocurrency market capitalization approaching the $1 trillion threshold.
Employment Report Turned Bullish !
In addition, with Bitcoin in turmoil due to macroeconomic issues, there is expectation that the employment report would likely encourage the Federal Reserve to take more drastic steps, like hiking interest rates, to rein in the inflation that is out of control.
A favorable employment report was expected to drive Bitcoin to around $15,000. The $20,000 stake may be in jeopardy because the asset has recently been linked to macro sentiment.
Overall, if Bitcoin is able to maintain $20,000, it will probably encourage investors to believe that the crypto market has reached a bottom.
The “HODL” mode appears to have been turned on amid anticipation for the upcoming Bitcoin course. In spite of the current weak market conditions, 62% of Bitcoin owners have not sold the asset in this example in over a year.
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Bitcoin Address in Loss Smash ATH, Has the Bearish September Just Began?
Bitcoin price was on the verge to close the monthly trade on a bearish note, however, the asset surged marginally above $20,000. Woefully, the asset is constantly hovering around $20,000, maintaining a constant descending trend. While the asset is believed to be under bearish captivity for a long, a notable upswing may be fast approaching.
As seen in the above chart, the BTC price is trading within a huge falling wedge and has approached the peak of the consolidation. Hence, the asset appears to be due for a notable breakout which may uplift the price close to $22,000 in the coming days. Moreover, the parallel consolidation in the recent past substantiates the claim.
Presently, the Bitcoin price is holding the lower boundaries at $19,900 firmly and if it further breaks $20,600, the bearish continuation may conclude. Else, a sweep of $19,500 may be imminent.
Bitcoin Address in Loss Smash the ATH
Regardless of the upcoming price action, the number of Bitcoin addresses in loss has reached an ATH of more than 17,500K.
The total address in loss had bottomed and reached levels below 2500K at the beginning of 2022. However, the number of addresses spiked, which further intensified to hit the current levels at 18,965K surpassing the previous ones observed in the first few days of July.
Conversely, the number of addresses in profits has also bottomed hard and reached a month low of 23,760K. On the brighter side, the addresses holding 1+ coins just went above 900,000.
While the Bitcoin(BTC) price is swinging within an uncertain environment, the addresses in loss are adding up every new day. Therefore, if the star crypto fails to rebound, then more addresses may be in loss which may further impact the price rally.
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September To Be A Rough Ride For Bitcoin & Ethereum Price!
The overall crypto market opened on the first day of September on a bearish note as the large-cap cryptocurrencies are mostly trading red. For instance, Bitcoin the firstborn currency is shifting between $19,000 and $20,000 while Ethereum is just maintaining above $15,000. In the last 30 days, the first two largest cryptocurrencies by market cap have lost 13% and 6% respectively.
Also, the global crypto market cap has declined below $1 trillion and has lost 1.30% over the last 24hrs trading at $973.25 billion.
Meanwhile the industry experts are of the belief that the month of September is going to be a rough ride for digital currencies. As per the reports by Bloomberg, even in the previous times, the month of September hasn’t been that great for Bitcoin, especially since 2017.
As per the reports, in the last 5 years, Bitcoin has dropped around 8.5% and even Ethereum has seen a loss during the same timeframe. Only 25% of the period the cost of ETH has increased, as it typically decreased by double-digit. The most anticipated ETH merge is scheduled to occur at the beginning of this month.
Bearish Days Ahead
When the reports are looked into closely it suggests that there are bearish days ahead and investors could witness bumpy days. Till now as the crypto market has followed that of stock, the month of September could be challenging.
Till now the year 2022 has seen Bitcoin trading mostly based on Federal Reserve and central bank’s interest rate hikes, but this momentum was considered necessary to curb the increasing inflation rates.
While the price of Bitcoin fell by more than 60% this year, Ethereum achieved a rise in recent weeks. The valuation of ETH has recently increased in expectation of the merger.
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Ethereum Merger Rescheduled! Know Why the Merger May not Happen on September 15! – Coinpedia – Fintech & Cryptocurreny News Media
Ethereum has evolved from just an idea to a whole ecosystem in its 8-year-long history. Moreover, with the launch of the Beacon Chain back in December 2020, the hope of a better platform for instant transactions was revived. Many Testnets and upgrades were carried out, and all went without any major technical flaws.
Mainly, after the final testnet Goerli went live successfully, the platform announced the transition of the Mainnet on September 15. Now when the entire crypto space is preparing for the upcoming merger, the event may not happen on the said day, but before the schedule.
Ethereum co-founder, Vitalik Buteirn had said previously that the exact date is depending on the hash rate of the asset. The merger will be triggered when the Total difficulty strikes 58,75,00,00,00,00,00,00,00,00,000 with an average hash rate of 872.2 THs. In a recent update, the ETH hash rate has been spiked heavily, hinting at the possibility of an early Merger.
The hash rate ever since dropped from highs above 1000 THs in May and has consistently maintained levels above 900 THs. Hence flashing the signals of an earlier Merger as the latest difficulty has reached 57,70,49,02,01,07,48,20,74,40,547 at the press time. According to some reports, the preparation is completed by nearly 98.21%.
If the current hash rate continues, or it receives an additional boost with the Bellatrix update scheduled on September 06, 2022, then higher possibility of the Merger getting triggered well before the announced date emerges.
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Cardano (ADA) Price to Surge 50% in September With Vasil Hard Fork Upgrade
Cardano’s (ADA) Blockchain is all set for the Vasil Hard Fork to upgrade in September. This is supposed to radically change the network’s protocol regarding transaction fees, speed, and a decentralized App.
According to a popular crypto analyst, Cardano (ADA) may outperform Bitcoin (BTC) in the short term as traders may think of hedging against Ethereum’s (ETH) upcoming merger event.
The Coin Bureau host told his 2.1 million YouTube subscribers that he views ETH competitors as hedges against the Merge if the update doesn’t go as planned.
“One of the ways I’ve personally been hedging myself against something going wrong with Ethereum’s merge is to hold competing smart contract cryptocurrencies as a part of my portfolio, and this includes Cardano’s ADA,” he mentioned.
The Youtuber continued by saying that Cardano seems all geared up to see gains against the top digital asset by market cap.
“ADA seems to be overdue for an appreciation against BTC on the weekly chart. This is because ADA has historically fallen against ETH for around eight weeks before seeing a multi-week rally. As you can see, ADA has been falling against ETH for about eight weeks and is showing signs of a reversal”
The host went on to predict that Cardano (ADA) could see a 50% gain soon.
He added;
“Note that [appreciating against BTC] does not necessarily translate to a higher price for ADA in fiat terms, but ADA’s daily and weekly price action in fiat terms suggest it could see a 50% gain in the coming weeks.
But I must stress that this ultimately depends on whether the crypto market sees a short-term recovery. I should also note that Cardano’s Vasil hard fork will expose the project to the same sorts of issues Ethereum could experience during its upgrade.
This is probably why other Ethereum competitors such as Solana appear to be on the brink of a bigger breakout against both ETH and the USD.”
ADA is floating at $0.4487 at the time of writing, with a trading volume of $424,904,899.
The Cardano (ADA) Upgrade
Currently, Cardano (ADA) is the eighth largest cryptocurrency by market capitalization. Cardano’s Blockchain is all set for the Vasil Hard Fork to upgrade in September.
The Vasil Hard Fork upgrade will supposedly improve the network’s performance and Cardano’s Plutus smart contract programming language, which aims to support the creation of decentralized applications (dApps). About a week ago, Charles Hoskinson from Cardano tweeted about the progress of the Vasil Hard Fork upgrade.
The Cardano Upgrade is expected to bring in a host of changes in terms of transaction fees, scalability of the Decentralised App, and the speed of transactions.
Sharing his views on the same, the Coin Bureau host said that ADA counteracts as a hedge against the Ethereum Merge mainly because Cardano itself is also going to make this Vasil Hard Fork Upgradation in September.
“It would be an admittedly strategic move if Cardano improved its scalability around the time Ethereum transitions to proof-of-stake. This is because it would put Cardano in a perfect position to acquire users and investors if The Merge fails or simply fails to meet the expectations of ETH holders.”