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Tag: Updates

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Top Analyst Updates Targets For XRP, Bitcoin And Another Altcoin

January 25, 2023 by Felix


After registering a bullish momentum for nearly a month, the crypto market is now dwindling between bears and bulls. The first born cryptocurrency Bitcoin which had regained its long lost $23K level, has now been pulled back towards the $22K area. The similar pattern is followed by Ethereum, BNB, XRP, Cardano, Solana and other large cap altcoins.

At the time of publication, Bitcoin is valued at $22,669 with a plunge of 1.30% over the last 24hrs.

XRP To Spike In The Coming Days

While major cryptocurrencies face the heat of negative pull back, a popular crypto analyst and trader is forecasting a bullish target for Bitcoin, XRP and SYN. The analyst who is anonymously known as Cantering Clark informs his 159,200 Twitter followers that Ripple’s XRP is all set to see a massive upward movement.

As per the above chart, the analyst is trying to convey that XRP has surpassed its high volume node range along with maintaining its trade above $0.422. However, at present the altcoin has lost its $0.42 level.

Currently, XRP is changing its hands at $0.407 after a loss of 4% over the last 24hrs.

Bitcoin’s Bull Run To End In FOMO

Next the strategist shifts his focus towards Bitcoin where he claims that the flagship currency is yet to complete its bull run. He then hopes that Bitcoin’s bull run will end with fomo (fear of missing out).

BTC is not done.

I would be genuinely surprised if this kind of action did not end with a fomo driven blowoff.

— Clark (@CanteringClark) January 23, 2023

Synapse (SYN) To Surge 115%

Lastly, the analyst concludes his analysis with Synapse (SYN) which is a platform that allows transfer of digital assets between blockchains. According to Clark, Synapse is set to spike nearly 115% once SYN moves beyond $0.70 level.

At the time of writing, Synapse is trading at $0.797 with a pull back of 9.71% in the last 24hrs.





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The SEC May Be Trapped Here! Know the Recent Ripple vs SEC Updates!

December 8, 2022 by Felix


  • Ripple vs SEC lawsuit is approaching a crucial phase where-in a settlement could be on the horizon

  • While no hard evidence appears to support the claims of the SEC, the Summary Judgement is also speculated to be in favour of Ripple

The Ripple VS SEC case is advancing every new day, expecting a course at the earliest. Hence, both parties have filed their replies to the motion and are eagerly waiting for the summary judgment. Meanwhile, Stuart Alderoty, the Ripple General Counsel previously hinted towards a possible settlement with the SEC recently. 

In his latest comments, the general counsel again hints towards the defendants of Ripple proceeding towards a settlement again. Both parties have now urged Judge Torres to produce the ruling in favor of the motions for Summary Judgement. The lawyer further debugs the narrative built against Ripple. He believes that the SEC does not have any answers and hence continues its attempt to recast Ripple’s argument. 

The reason the SEC and detractors try to recast our arguments is they have no answer for the arguments we actually make.

— Stuart Alderoty (@s_alderoty) December 7, 2022

He pointed out the fact that there is no contract of investment between Ripple and the XRP holders. Moreover, the SEC is still unable to satisfy a single prong of the Howey test. He also mentioned that the brief which has been submitted portrays that  XRP was never purchased as a security of Ripple. Additionally, the conclusion drawn from amici briefs and the evidence without any base is believed to defeat the commission’s claims with ease. 

Above all, the final verdict of the Ripple vs SEC case is believed to bring drastic changes within the crypto space and also change the perspective of the common man. With the closure of the Ripple vs SEC case, the cryptos are expected to be widely accepted around the globe after being regulated. 





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Terra Fails to Attract Investors, Despite Major Ecosystem Updates! What’s Next for LUNA Price?

December 8, 2022 by Felix


The giant fall that slashed the Terra (LUNA) price to half during the first few days of November continues to prevail as the prices remain within the bearish influence. At the same time, the volume also has dropped significantly which has also hindered the rally to a larger extent. Meanwhile, the development activity over the platform remains within a decent range regardless of the LUNA price action. 

In a fresh update, the new alpha package for TerraDart which is a Dart SDK for writing applications interacting with the Terra blockchain rolled out a new package called alpha. The alpha package is now ready to use and can be used to communicate with the LUNC blockchain within Flutter & Dart environments. 

Along with the alpha package, a new on-chain proposal has been rolled out called Knowhere/Soil Grant Proposal where-in the developers seek 187,500 LUNA for the smooth functioning of the network and also launch new features every 6 to 8 months. 

Despite a couple of significant upgrades, the price remains largely unaltered. As per the data from Santiment, the development activity over the platform has slightly risen from rock bottom levels. 

Santiment

It has to be noticed that the development activity decreased when a minor rise in the LUNA price was registered previously. This resulted to be extremely harmful to the token as the community shifted its focus as the social volume also dropped miserably. Moreover, the volatility of the asset also dropped by more than 40% which worsen the situation. 

However, LUNA’s daily chart continues to remain bearish as most of the indicators point toward the price could deep dive into the bearish sea very soon. The price which is hovering around $1.62 with a slight jump of 4.13% compared to the previous day’s close may fail to reach the pivotal resistance at $2. The following rejection may however drag the Terra price below $1.5 very soon. 



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The Top Crypto Exchange, Features And Updates

November 12, 2022 by Felix


There are so many cryptocurrency exchanges in the world. But which one should you choose? Detailed research based on your requirements will reveal the answer. 

Binance is one of the leading cryptocurrency exchanges in the world. It has the best user-friendly experience, low transaction fees, high trading volume, and efficient tools to keep you updated on your crypto portfolio. 

In this Guide, we will help you understand the basics of Binance, how-to guide, fees & Limits, and the latest updates for traders and investors. Let us look into this exchange review now!

Overview

Official Website https://www.binance.com/
Head Quarters Cayman Islands
Founder Changpeng Zhao
Exchange Type Centralized Exchange
Trading Options Spot, Margin, Strategy trading, Derivatives, NFTs, P2P, Swap farming, and OTC trading.
Trading Fees Maker & Taker fee: 0.1000% / Maker & Taker fee: 0.0750% for BNB payments
Trading Pairs 100+
Native Token Binance Coin – BNB
Deposit Methods Cryptocurrency deposit using wallets, Fiat currency deposit using debit/ credit cards
Deposit Fees No Deposit fees
Withdrawal Methods Cryptocurrency withdrawal using 2-factor authentication, Fiat currency withdrawal using bank cards
Withdrawal Fees Varies from coin to coin and the network selected. Paid to miners to cover transaction costs
Supported Countries 100+
Restricted Countries 7+
Supported Fiat Currencies 31+
Mobile App Available for iOS & Android from the App store, APK files for other OS

About the Exchange

Binance is a centralized exchange that was launched in 2017 by Changpeng Zhao, also called ‘CZ’. Thanks to its mainstream advertising, within 180 days it became the largest cryptocurrency exchange in the world in terms of trading volume. 

It features a strong focus on altcoin trading and has its own crypto coin called Binance Coin (BNB). Though it was initially based in China, it had to move out due to tightening restrictions and regulations. Binance is presently registered in the Cayman Islands, however, CEO Changpang Zhao is not revealing the current headquarters of Binance as he believes that the exchange should be decentralized as cryptocurrencies. 

The highly effective services, user-friendly access, security, low fees, speed of trade, and efficient trading tools retained the investors in the platform and also helped them to be the market leader for a long time.

A verified crypto account can enter the crypto investment and buy crypto in multiple ways. Furthermore, Binance features P2P exchange, futures trading, strategy trading, Auto investments, margin trading, Binance NFT, and much more. It supports third-party wallets like simplex and banxa and has its own acquired wallet ‘Trust Wallet’. Thus making it a perfect platform for crypto trading needs.

Features

Binance offers a wide variety of features that enables you to trade cryptocurrencies smoothly. Now let us have a look at them

  • eWallets – ‘Trust Wallet’ is the most trusted and secured wallet on Binance as it is acquired by Binance. eWallet has an amazing feature where you can even earn interest for your long-term deposit holdings in your eWallet. It also offers third-party wallets. 
  • Mobile Trading – With the Binance mobile app you can trade while you are on the move and keep an up to date information on your crypto portfolio. 
  • Trading accounts – Binance has Basic and advanced trading accounts. The basic account is dedicated to beginner traders. In advanced trading accounts, you can see advanced trading options like Margin, P2P, and OTC tradings.
  • SAFU – During exceptional events like hacking or in uncertain circumstances ‘Security asset fund’ provides insurance to Binance traders. 
  • Multi-level security – SMS verification, two-factor authentication(2FA), and U2A device authentication. Due to SIM hacking events, Binance is discouraging the use of SMS verification.
  • Family Access – In case of your death Binance allows your family members to have access to your account.
  • Customer Service – With the click of a button, you can chat live with the 24X7 customer support executives and clear your doubts. Their website also has a dedicated section for FAQs for user issues
  • Analytical charts – Binance uses Trading View to provide its users access to technical market indicators, charts, and graphs that analyze the market in real-time. These interactive tools help users in finding the next trading opportunity at the earliest possible.
  • Deposits and Withdrawals: Almost every payment gateway is integrated with the secure exchange. It also supports high-volume deposits and withdrawals of traders in fiat currency and cryptocurrencies such as BNB, Litecoin (LTC), and BTC Cash. There are no deposit fees. However, there is a minimum withdrawal amount and withdrawal fee. 
  • Academy – Binance Academy is a learning section catering to the needs of both newbies and veteran traders. You can find everything about crypto, blockchain, mining, etc. It is simply a one-stop destination to learn all about crypto and blockchain
  • Learn & Earn – Binance offers a program for knowledge-thirsty users where they can learn about blockchain and on successful completion of quizzes they get a chance to win cryptos. If you are a crypto nerd then you should try this. 
  • Launchpad – Binance Launchpad is a unique platform that allows users to have exclusive access to promising new crypto tokens from various projects. It also helps drive awareness and adoption of these projects. This is best for investment decisions related to ICOs. 
  • NFT Marketplace –  NFTs being tokens can be transferred from one individual to another on the blockchain, just like sending Bitcoin (BTC) from one individual to the next. Binance’s NFT Marketplace allows users to buy, store and sell NFTs
  • Binance cards – just like debit cards where you can spend cryptos to buy from more than 60 million merchants’ stores. Users can apply for a Binance card and top up the card with desired cryptos. 
  • Binance Gift cards – Binance allows users to send cryptos in form of gift cards to both Binance and non-Binance users and can be customized with more than 30 thematic templates to choose from. These can be used for Gift Card reselling, loyalty and game rewards, e-commerce purchases, and more. 

There are 3 types of gift cards 

  • Fixed Value Cards – which allow users to keep the value of the card regardless of the market conditions
  • Mystery Box Cards – which help you to get rewards and grow your portfolio
  • Cashback Cards – which allow users to earn instant rewards and save on future card purchases

Send your gift card from here

  • Binance Live – On Binance Live, users can watch exclusive sessions from thought leaders in the crypto space, tune in to professional investment analysis and listen to lessons from industry leaders. It is a live-streaming platform committed to making users aware of the latest trends and events in the crypto space. 

Cryptocurrencies available on Binance

With more than 600 cryptocurrencies and 1432 trading pairs on its platform let us look at the most traded cryptos on Binance right now.

Most Traded Cryptos on Binance
Bitcoin (BTC) Ethereum (ETH) Dogecoin (DOGE)
Polygon (MATIC) Gala (GALA) Band Protocol (BAND)
Shiba Inu (SHIB) Mask Network (MASK) Fantom (FTM)
Binance Coin (BNB) Lite Coin (LTC) Tether (USDT)

For a full list of cryptocurrencies check out the company’s market page 

How to Register Using Binance App?

Setting up an account on Binance can be done in a few steps and let us explore them

1. Open the Binance App and tap [Sign Up].

2. Select a registration method. You can sign up with your email address, phone number, and Apple or Google account.

3. Select [Email] or [Phone Number] and enter your email address/phone number. Then, create a secure password for your account.

4. You will receive a 6-digit verification code in your email or phone. Enter the code within 30 minutes and tap [Submit].

5. Congratulations! You have successfully created a Binance account.

How to buy cryptocurrency?

There are a number of ways to buy cryptocurrencies from Binance, including Credit/Debit cards, Cash Balance, Google/ Apple Pay, and P2P. Let us see how you can buy crypto using a credit/ debit card

Buying crypto Via bank debit/ credit card

1. To get started select “Buy with cash” from the home screen

2. Next, select “Credit/Debit Card”

3. Tap “USD” to open the list of supported fiat currencies available

4. Type the name of your fiat currency in the search bar or scroll through the list to select your local fiat currency.

5. Enter the amount of the selected fiat currency you wish to spend and tap “BTC” to select the cryptocurrency you wish to purchase.

6. “Add a new card” or select the card and then tap [Buy]. Once you have entered the amount, Tap [Confirm]

8. Congratulations, the transaction is complete and the purchased cryptocurrency has been deposited to your Binance Spot Wallet.

How to Sell Cryptocurrency on Binance?

You can sell your cryptocurrencies using fiat and spot wallet, or P2P trading. However, if you’re looking for a quick and convenient way to sell your crypto into cash, Sell-to-Card is the answer. Sell-to-Card is an instant and convenient way for users to sell and cash out on their crypto directly to VISA credit/debit cards. 

  1. Log in & choose credit/debit card
  2. Choose the crypto to sell and your preferred fiat currency which you want to receive. Enter the amount & Tap [Sell]
  3. Select your payment method. 
  4. Confirm your order within 1 minute
  5. Congratulations, your sell order is submitted

How to Deposit Crypto in Binance?

A user can transfer their cryptocurrencies from another platform and deposit them in Binance for trading or earn passive income using Binance Earn Feature. 

1. Open your Binance App and tap [Wallets] – [Deposit].

2. Choose the cryptocurrency you want to deposit, for example, USDT.

3. You will see the available network for depositing USDT. Make sure that the selected network is the same as the withdrawal network

4. You will see a QR code and the deposit address. Click [Save as Image] and import the QR code on the withdrawing platform directly.

5. After confirming the deposit request, the transfer will be processed. The funds will be credited to your Binance account shortly after.

How to Withdraw Crypto on Binance?

Binance allows a smooth withdrawal system and the only thing you have to do is to follow the step-by-step procedure. Make sure that you adhere to the steps otherwise, there is a high chance that you might lose the cryptocurrencies. Let us get into step

1. Log in to your Binance App and tap [Wallets] – [Withdraw].

2. Choose the cryptocurrency you want to withdraw, for example, BNB. Then tap [Send via Crypto Network].

3. Select the Right Network you want to make the withdrawal on.

4. Enter the withdrawal amount and Tap [Withdraw] to proceed.

5. You will be prompted to confirm the transaction again. Please check carefully and tap [Confirm].

6. Verify the transaction with 2FA devices & please follow the on-screen instructions to complete the process.

7. After confirming the withdrawal request, please wait patiently for the transfer to be processed.

Binance is a secured platform however, the withdrawal time varies for cryptocurrencies. Do not be in the assumption that Binance is slow in confirming transactions. It is because the withdrawal time depends on the traffic and blockchain. If there is high traffic, it might take more time to withdraw. Same way every blockchain is also different.

For example, the Binance Smart chain can process transactions in a faster way compared to Bitcoin.

Fees and Supported Payments

In Binance the more you trade the less you pay on fees plus you will be getting many discounts too. The transaction fee corresponds to your trading volume. 

Binance VIP Level Ranking

Binance uses a VIP ranking system where users are ranked based on their trading volume in 30 days. VIP 9 is the highest and a new user is the lowest. 

Here is a quick view of the fee rates

Binance Fee rates Maker Fee Taker Fee Trading Type
VIP Level 0 0.10% 0.10% Spot
VIP Level 4 & above 0.02% 0.04%
VIP Level 0 0.02% 0.04% Futures
VIP Level 9 0.00% 0.01%

Click here to know more about fee rates on Binance

Binance Deposit & Withdrawal fees

A quick glance at Binance Deposit and withdrawal fees

Binance does not charge deposit fees.
There is a minimum withdrawal amount for each cryptocurrency.
They charge withdrawal fees which are paid to miners as transaction costs
Withdrawal rates are determined by blockchain and subjected to fluctuation without notice if there is network congestion,
And for fiat currency withdrawal, they charge 1.90% if you are transferring to your bank cards and ‘sell-to-cards’ by Binance.

Please note that the minimum withdrawal limit and transaction fees vary depending on the network you choose and make sure that you choose the correct network for the transaction or else you may lose funds. 

Check the official website for the most recent list of withdrawal fees for each cryptocurrency and fiat currency

Mobile App

Binance Mobile App is available for android and iOS users. An interesting thing is that they offer a demo account for mock trading on a mobile app for new users to get acquainted with the trading methods. Once the user gains confidence he or she can deposit money according to their budget and start investing and trading.

Here’s why you should use Binance mobile app which makes your trade go easier:

  • This mobile app provides users with 24/7  customer support and security where they can chat online.
  • Fast and easier login into your account on the desktop by scanning QR codes like Whatsapp.
  • This app has got a lite version where you don’t need high-speed internet.
  • Binance mobile app communicates your language. Go to the settings option where you can set your local language.
  • You can transfer and receive payments through Binance Pay where you can lessen transfer fees charged by other Apps.

Referral Commission & other earnings in Binance

Binance offers a referral program where you can earn even if you don’t trade, for every new user you bring into the system you receive a commission whenever new referred user trades on any of Binance’s Spot (Margin) or Futures markets. 

Binance Pool Referral Program

Binance pool is a platform dedicated to improving the income of miners. It provides mining services to the users with a focus on PoW (Proof of Work) & PoS (Proof of Stake). For every new user you bring into the pool you receive a commission rate of 30% when they start mining.

Binance Earn Wednesday Offer 

In November 2022, Binance launched “Earn Wednesday” – a rewarding program where users can get a stable income by depositing their digital assets and get rewards across Simple Earn, DeFi Staking, Liquid Swap, Dual Investments, and more.

Here users can select digital assets and deposit them for a selected period of time. Upon maturation, the users will be getting earnings for their subscribed digital assets. Locked product duration is fixed whereas Flexible product duration is flexible. 

Free Dual Investment BTC Sell High subscription

Binance also recently launched a free Dual Investment BTC Sell High subscription where users can gain knowledge about Dual Investment and Auto-Compounding, complete a quiz and get an eligible score on dual investments to be eligible for the program. 

Only the first 100,000 new Dual Investment users who successfully complete this quiz, will qualify to each receive a free Dual Investment BTC Sell High subscription

Check out the Binance website for a list of products eligible for ‘Earn Wednesday program’

tercard Credit/Debit Cards in Sell-Crypto-for-Fiat Feature. Users can now directly sell crypto for fiat currencies using Master credit/debit cards

Conclusion

Binance is one of the most transparent and secure cryptocurrency exchanges in the world. However, the recent hacks and government scrutiny raise the eyebrows of many users. But you need to note that Binance offers so many security features for your account and they are accountable for any loss of assets in the system. Binance has so many advantages compared to its competitors. Moreover, Binance offers a learning section where a newbie can learn all about cryptocurrency and start investing wisely. 

FAQ

Is Binance a Chinese company?

Even though the company had its origin in China and is led by a Chinese Canadian CEO you cannot brand it as a Chinese company as they are now headquartered in Malta and has employees from almost all ethnicity. Binance is registered in different countries and has people from different places, so it cannot be completely regulated by a Chinese governing body.

Is Binance Safe? 

Yes, it is safe. Even though Binance recently had a security hack they recovered the losses and reimbursed fund to users from Security Asset Fund (SAFU). Other security reasons like SAFU, whitelisting, and offline storage of funds(cold wallets) make Binance outstanding and ahead of the pack.

What is the ‘Flexible Savings’ scheme on Binance?

Flexible Savings is a unique crypto savings account offered by Binance. Here the subscriber can get interests on their holding and staking of cryptocurrency that is deposited to Binance account. 

Please note: Trading cryptocurrencies involves significant risks and can result in the loss of your capital. You should always do your own research (DYOR) to understand the risks involved before you trade.

Binance Exchange

  • Trading and transaction fees
  • Number of cryptocurrencies
  • Website transparency
  • Customer service

Pros

    Binance has 600+ cryptocurrencies for trading
    Highest number of cryptocurrency pairings available for trading
    Earn interest in their crypto holdings. It is good for staking
    Low transaction fees
    Wide selection of trading sections and order types
    It has multilingual support
    The trading account can be opened in less than 15 minutes

Cons

    The platform has a broad number of features and can be intimidating for beginners as well as experienced traders
    Built-in Digital wallet is not available and there is limited support from 3rd party in case of transfer issues
    It has been banned in more than 7 countries
    It has slower customer support in some countries



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Top Analyst Warns Shiba Inu Traders, Updates Target For Dogecoin

October 31, 2022 by Felix


As Dogecoin gains traction due to the completion of the Elon Musk-Twitter deal, Shiba Inu which is in close connection with DOGE has also gained some momentum. SHIB had a bullish momentum hitting a target of $0.00001275 just a day before setting back from its upward price action.

At the time of reporting, Shiba Inu is valued at $0.00001231 after a plunge of 0.82% in the last 24hrs and a surge of 22.54% in the last seven days. The immediate support lies around $0.00001225 while the resistance is positioned at $0.00001238.

Meanwhile, a popular crypto trader and strategist is warning traders who are hoping for Shiba Inu to reverse its price action. The analyst who is anonymously known as Altcoin Sherpa informs his 185,700 followers over Twitter that after the meme currency failed to move above its resistance level of $0.00014, SHIB is about to see more loss.

$SHIB: Lagging to $DOGE rn, this current 200d EMA is acting as resistance and price is pulling back. I’d like to see acceptance above 1400 (you know what I mean for price) before calling for higher. Some notes on chart. pic.twitter.com/CIqWgn5ilI

— Altcoin Sherpa (@AltcoinSherpa) October 29, 2022

Dogecoin (DOGE) Price

The next currency that the strategist talks about is the meme king, Dogecoin where he claims that DOGE will hit $0.16 next. He then says that he is neither going long or shorting Dogecoin.

Currently, Dogecoin is changing hands at $0.1214 after a drop of 2.94% over the last 24hrs.

Avalanche (AVAX) Price

The third currency that has caught the trader’s attention is Ethereum competitor, Avalanche (AVAX). He believes that if Bitcoin maintains a stable price action, then Avalanche will see some bullish run soon.

As per the above mentioned chart, Altcoin Sherpa believes that AVAX will move towards $29.11 after a surge of 60% from its current trading price. At the moment, Avalanche is valued at $19.08 with a surge of 2.74% in the last 24hrs.

Injective (INJ) Price

Before the analyst winds up his analysis, he picks Injective (INJ), a decentralized exchange which provides a variety of financial products like spot trading, futures and more. As per Sherpa INJ’s supply zone around $2.20 has been strong and predicts the currency to hit $2.40.

At the time of writing, Injective (INJ) is trading at $2.37 after an upswing of 5.43% in the last 24hrs.

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Analyst Updates Price Targets For Bitcoin (BTC) & Ethereum (ETH)

October 29, 2022 by Felix


A bullish start of the day! It was more than a month that the global crypto market was trading below $1 trillion and a couple of days before the market cap did climb at $1 trillion before dropping. However, today once again the world wide crypto market cap is trading above its crucial mark with a surge of 1.73% over the last 24hrs.

On the other hand Bitcoin has gained 2.16% in the last 24hrs to trade at $20,668 pushing other major cryptocurrencies like Ethereum, XRP, BNB, Cardano and others.

However, one of the most closely followed crypto analysts and traders, Michael van de Poppe is of the opinion that the King currency is still around its resistance even when the currency has surged above $20,500.

Bitcoin (BTC)

The analyst makes an effort to inform his 637,600 Twitter followers that as Bitcoin was earlier rejected at $20,800 the currency is still below its resistance. He also says not to go long for now.

#Bitcoin still within resistance here, as it rejects around $20.8K and LTF also rejects at $20.75K.

Not favouring daytrading longs here, I’m technically searching for the scenario given in the chart, area around $19.9-20.2K. pic.twitter.com/BNPC4gAdGR

— Michaël van de Poppe (@CryptoMichNL) October 27, 2022

The strategist further claims that if Bitcoin finds its support around $19,600 and $19,900, the currency will favor the traders who are looking for long.

He says that if Bitcoin fails to hold its support around $19,900 then the next support should be at $19,600.

#Bitcoin miners are capitulating, as hash rates rallies to ATH’s.

Meanwhile; from a technical standpoint, $BTC looks to reach long territories here.

Sweeping the low and should hold around $19.9K.

If that doesn’t grant support, then I’m looking at $19.6K. pic.twitter.com/2x0pw4ih6x

— Michaël van de Poppe (@CryptoMichNL) October 28, 2022

Ethereum (ETH)

Next, Van de Poppe talks about the lead altcoin, Ethereum where he asserts that for ETH the resistance lies around $1,600 and $1,650. He believes that it is necessary to move beyond the mentioned resistance to trade around the next resistance at $1,750.

#Ethereum still facing resistance around $1,600-1,650 here.

Might question whether we’ll continue the rally, and we clearly need to crack that resistance, and then face $1,750.

Short term, I’d love to have entries around $1,400-1,450. pic.twitter.com/6rT49WfoVb

— Michaël van de Poppe (@CryptoMichNL) October 27, 2022

At the time of reporting, Ethereum is selling at $1,580 after a surge of 4.84 over the last 24hrs.

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Analyst Warns Bitcoin Downtrend, Updates Target For FTM, NEAR

October 22, 2022 by Felix


The year 2022 has experienced an extended pump and dump trade especially from May. Today the market appears a bit greener as Bitcoin has gained 0.46% while Ethereum has surged by 0.63% in the last 24hrs. The same is followed by other altcoins like BNB, XRP, Cardano among others.

Meanwhile, a closely followed crypto analyst is giving his bearish prediction towards Bitcoin (BTC) along with altcoins like Fantom (FTM), Injective Protocol (INJ) and Near Protocol (NEAR).

Fantom (FTM)

The analyst who is anonymously known as Altcoin Sherpa starts his analysis from Fantom (FTM). He informs his 184,900 Twitter fanbase that this contract-based blockchain is about to find its ground.

Hence, he believes that no bottom would occur anytime soon.

Currently, Fantom is trading at $0.2043 with a surge of 2.31% in the last 24hrs.

Injective Protocol (INJ)

Next he picks up Injective Protocol (INJ) which is a decentralized derivatives exchange. The analyst claims that he is opting to pull out his investments when INJ hits around $2.02 as there is too much selling.

$INJ: I’m mostly out of my position around $2.02ish, I didn’t sell the top. I wouldn’t be surprised if green box comes, looks like sustained selling now. It was a good trade w. most entries in the 1.80 area. pic.twitter.com/vZGx6vrfst

— Altcoin Sherpa (@AltcoinSherpa) October 20, 2022

At the time of writing, Injective Protocol is valued at $1.85 after a drop of $0.05% over the last 24hrs.

Near Protocol (NEAR)

The last altcoin that Altcoin Sherpa talks about is the Near Protocol (NEAR) which is a decentralized application platform. He is of the opinion that currently NEAR is too weak and will drop below $2.

At the moment, Near Protocol is selling at $2.86 followed by an upswing of 0.83% in the last day.

Bitcoin (BTC) Price

Before the analyst wraps up his analysis, he puts forth his analysis for Bitcoin where suggest a bearish breakdown. He says that after the flagship currency has traded around $19,000 since June, Bitcoin might move down towards the $16,000, $14,000 and $12,000 range.

$BTC: Here are some high time frame levels in both directions. I think you should focus on the 16k, 14k, and 12k areas. I don’t know if this is going to hit those low levels but I do think that you should be prepared if they do.

https://t.co/XNhrLD4dAY#BTC #Bitcoin

— Altcoin Sherpa (@AltcoinSherpa) October 20, 2022

At present, Bitcoin is trading at $19,141 with a surge of 0.49% over the last 24hrs.

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