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ADA, SXP, AVAX, ATOM, ONE, LINK, RSR: Crypto Market Update

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Rate this post Popular crypto analyst and trader Michaël van de Poppe has shared what he thinks next for altcoins like ADA, SXP, AVAX, ATOM, ONE, LINK, RSR in his latest YouTube video. ADA, SXP, AVAX: Crypto Market Update In his latest YouTube upload released on May 31, notable crypto analyst Michaël van de Poppe started his video saying Cardano (ADA) has the potential to surge to $5 next. According to him, the next target for ADA is in the $3.35 level, before a potential surge to $5. Request 02 – #Cardano This one is actually one of the strongest performers in the market. Hard drop, after which a strong bounce occurred. Since then, beautiful HL constructed and further consolidation, before continuation expected.$BTC pair doing fine too. pic.twitter.com/wbQErmP1tl — Michaël van de Poppe (@CryptoMichNL) May 30, 2021 The next altcoin that Van de Poppe has got his eye on is SXP, the native token on crypto wallet Swipe. According to him, a bullish breakout could be established once SXP breaks above the 100-day moving average (MA) against Bitcoin (SXP/BTC). Unlike other cryptocurrencies, Swipe isn’t just a protocol powered by a distributed network but is both a software and a digital wallet ecosystem designed to allow users to buy and spend fiat money and cryptocurrencies at physical and digital locations. Request 01 – #Swipe This one is consolidating between the MA’s here, through which a bullish trigger can be formed if it breaks back above the 100-Day MA. New impulse wave trigger if accumulation resistance breaks. pic.twitter.com/YpRRjimYIW — Michaël van de Poppe (@CryptoMichNL) May 30, 2021 The next altcoin on Van de Poppe’s list is the smart contract platform Avalanche against Bitcoin (AVAX/BTC). He notes that the trading pairs did “get crushed” compared to other altcoins during the recent crypto market wipeout. If AVAX/BTC can break above the 0.00061 area, which is about a 22% move from its current value of 0.00049 he says the coin can continue its bullish momentum. Avalanche is a decentralized smart contract framework intended to be a massively scalable ecosystem to provide speedier transactions while charging fractions of a cent in transaction fees. Request 03 – $AVAX / #Avalanche This one got crushed, like many of the #altcoins. On support right now, which is crucial to sustaining. On the upside, the area around 61000 sats is the critical breaker for further bullish momentum. pic.twitter.com/jD64DlYD9x — Michaël van de Poppe (@CryptoMichNL) May 30, 2021 ATOM, ONE, LINK, RSR: Crypto Market Update The trader next comments on interoperable blockchain protocol Cosmos (ATOM) saying the native asset might continue its bullish momentum against Bitcoin once it breaks the 200-day moving average, currently around 0.0004. Cosmos is a network of blockchain networks that allows separate blockchains to communicate with each other in a seamless manner. Request 04 – #Cosmos / $ATOM This one is consolidating in a range here, through which it’s also acting between the crucial MA’s. If a break above the 200-Day MA happens, I’m assuming continuation is likely. Green zones are critical to hold. pic.twitter.com/UwrCqqhvwX — Michaël van de Poppe (@CryptoMichNL) May 30, 2021 He also goes on to say that ONE, the native token on Harmony has the potential to surge to new highs if ONE/BTC can hold the critical level of 200 satoshis or 0.000002. Harmony positions itself as a fast and secured platform for decentralized applications as designed to solve crucial problems in Ethereum like high fees, slow transaction speeds, and scalability issues. Request 05 – $ONE / #Harmony This one is still in a bullish cycle, as it’s done a beautiful retest at the green zone. And, next to that, making higher lows, still. Green area critical to hold. If that holds -> bullish continuation. pic.twitter.com/pUuEIil2tU — Michaël van de Poppe (@CryptoMichNL) May 30, 2021 In terms of Chainlink (LINK/BTC) trading pairs, the analyst notes that LINK against BTC did manage to climb above the crucial moving averages and if it manages to hold could potentially rally by over 42% from its current price of 0.00083 to 0.00118. Chainlink is a decentralized oracle network and cryptocurrency that provides real-world data to blockchains. Request 06 – #Chainlink / $LINK Dropped below the 100-Day & 200-Day MA. Bounced back immediately, now back above. Holding those and I’m expecting bullish continuation to occur on this one. Doesn’t look bad. pic.twitter.com/b7teMv9EQg — Michaël van de Poppe (@CryptoMichNL) May 31, 2021 Lastly, Van de Poppe’s analyses on RSR, the native token on stablecoin platform Reserve Rights. According to him, RSR/BTC could go for a 70% rally from 0.00000088 to 0.0000015 to test the next major resistance area. The Reserve Right Token is the governance and utility token for Reserve, a stable coin designed on the Ethereum network. Request 07 – $RSR / #ReserveRights This one shows the same … Continued

The post ADA, SXP, AVAX, ATOM, ONE, LINK, RSR: Crypto Market Update appeared first on Cryptoknowmics-Crypto News and Media Platform.

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Popular crypto analyst and trader Michaël van de Poppe has shared what he thinks next for altcoins like ADA, SXP, AVAX, ATOM, ONE, LINK, RSR in his latest YouTube video.

ADA, SXP, AVAX: Crypto Market Update

In his latest YouTube upload released on May 31, notable crypto analyst Michaël van de Poppe started his video saying Cardano (ADA) has the potential to surge to $5 next.

According to him, the next target for ADA is in the $3.35 level, before a potential surge to $5.

The next altcoin that Van de Poppe has got his eye on is SXP, the native token on crypto wallet Swipe.

According to him, a bullish breakout could be established once SXP breaks above the 100-day moving average (MA) against Bitcoin (SXP/BTC).

Unlike other cryptocurrencies, Swipe isn’t just a protocol powered by a distributed network but is both a software and a digital wallet ecosystem designed to allow users to buy and spend fiat money and cryptocurrencies at physical and digital locations.

The next altcoin on Van de Poppe’s list is the smart contract platform Avalanche against Bitcoin (AVAX/BTC). He notes that the trading pairs did “get crushed” compared to other altcoins during the recent crypto market wipeout.

READ  RSR Technical Analysis – Tested and Fell below Level of $0.096

If AVAX/BTC can break above the 0.00061 area, which is about a 22% move from its current value of 0.00049 he says the coin can continue its bullish momentum.

Avalanche is a decentralized smart contract framework intended to be a massively scalable ecosystem to provide speedier transactions while charging fractions of a cent in transaction fees.

ATOM, ONE, LINK, RSR: Crypto Market Update

The trader next comments on interoperable blockchain protocol Cosmos (ATOM) saying the native asset might continue its bullish momentum against Bitcoin once it breaks the 200-day moving average, currently around 0.0004.

READ  Polkadot Rises Impressively and Embraced Support at $7

Cosmos is a network of blockchain networks that allows separate blockchains to communicate with each other in a seamless manner.

He also goes on to say that ONE, the native token on Harmony has the potential to surge to new highs if ONE/BTC can hold the critical level of 200 satoshis or 0.000002.

Harmony positions itself as a fast and secured platform for decentralized applications as designed to solve crucial problems in Ethereum like high fees, slow transaction speeds, and scalability issues.

In terms of Chainlink (LINK/BTC) trading pairs, the analyst notes that LINK against BTC did manage to climb above the crucial moving averages and if it manages to hold could potentially rally by over 42% from its current price of 0.00083 to 0.00118.

READ  LINK Moved Positive on Bullish Path with $27.50-$35.28

Chainlink is a decentralized oracle network and cryptocurrency that provides real-world data to blockchains.

Lastly, Van de Poppe’s analyses on RSR, the native token on stablecoin platform Reserve Rights. According to him, RSR/BTC could go for a 70% rally from 0.00000088 to 0.0000015 to test the next major resistance area.

The Reserve Right Token is the governance and utility token for Reserve, a stable coin designed on the Ethereum network.

#ADA #ATOM #AVAX #LINK #Michael Van De Poppe #ONE #RSR #SXP

Source: https://www.cryptoknowmics.com/news/ada-sxp-avax-atom-one-link-rsr-crypto-market-update/

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Bitcoin Surges Past $40K as Paul Tudor Jones Wants 5% Portfolio Allocation to BTC

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Prominent legacy investor Paul Tudor Jones III has doubled down on his support of bitcoin by indicating that it is reliable, honest, secure, and 100% certain. Furthermore, he said he wants to have 5% of his entire portfolio allocated in BTC.

  • Ever since the COVID-19 pandemic broke out last year, the US billionaire hedge fund manager has been vocally praising the primary cryptocurrency.
  • He argued that buying bitcoin would ultimately protect him from the growing threat of inflation in the US as the Fed initiated radical measures to fight the financial consequences of the pandemic by printing excessive amounts of the dollars.
  • Thus, Jones said he had allocated between 1% and 3% of his portfolio in bitcoin at the time. Once BTC’s price started appreciating in value by the end of 2020, he reaffirmed his stance, saying he liked it even more now.
  • During a more recent interview with CNBC, the prominent investor had even more positive words for the asset:
  • “I like bitcoin. Bitcoin is math, and math has been around for thousands of years. 2+2 is going to equal 4, and it will for the next two thousand years. So, I like the idea of investing in something that’s reliable, consistent, honest, and 100% certain.”

  • Jones added that BTC has “appealed to me because it’s a way for me to invest in certainty.”
  • On the question of what Jones is advising people about their investment portfolios, he noted that he wants to have 5% allocated in gold and 5% in bitcoin.
  • It’s worth noting that the primary cryptocurrency’s price has reacted quite positively after the interview went live. BTC had failed to breach $40,000 on several attempts, but it managed to break out to above that level for the first time since late May.
  • At the time of this writing, BTC is trading at around $40,600.

Featured Image Courtesy of CNBC

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Source: https://cryptopotato.com/bitcoin-surges-past-40k-as-paul-tudor-jones-wants-5-portfolio-allocation-to-btc/

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Trality: Algorithmic Trading in the Unpredictable Cryptocurrency Market

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The cryptocurrency market is no longer one that can be isolated. Bitcoin is no longer a niche asset with so many institutions and recognized investors jumping on board and seeking exposure.

Retail investors are here, and, at this point, it’s safe to assume that they’re here to stay. With daily trading volumes across major exchanges exceeding $200 billion regularly, the interest in cryptocurrency trading is real, and there’s no longer any doubt about it.

However, this doesn’t make it any less volatile or easy to predict – on the contrary. Cryptocurrencies are still relatively small in total valuation compared to traditional market products and, as such, bring forth tremendous volatility that we see on a regular basis.

About a month ago, Bitcoin’s price was trading at upwards of $50K, and in April, it even charted an all-time high of $65K. Today, however, the price has declined substantially, sitting at around $40,000. In the past few days alone, BTC decreased to $31K and increased to where it’s currently trading, showcasing the massive volatility the market experiences.

This presents many opportunities for experienced traders but also a lot of challenges for those without a lot of knowledge.

Regardless of whether you’re an avid professional or an enthusiastic beginner, benefitting from well-made trading tools is a massive help and can definitely boost performance. This is where Trality comes into the picture.

Trality – A Platform for Algorithmic Trading

Trading bots are somewhat a known phenomenon in the field, but it’s also a fact that a lot of the ready-made solutions fail to perform as promised thanks to outdated algorithms that can not keep up with an ever-shifting market.

Writing the code for a well-performing trading bot, on the other hand, requires serious knowledge in both development and trading. With this in mind, Trality’s platform allows anyone to create their very own trading bots without having to write a single line of code.

The main idea behind these is to capture gains without the user having to sit and stare at the charts the whole time. Instead, they’re able to create a piece of software, namely a bot, that executes trades under predetermined conditions, following specific patterns that are input by the users themselves.

With this said, there are quite a few advantages of trading bots to consider:

  • Trade with no emotions

Emotion trading is undoubtedly one of the most common reasons for which people lose money. Revenge-trading, for instance, refers to a situation where you’ve lost money and are trying to make it back immediately after, oftentimes taking rash and emotional decisions.

With trading bots, this is something you don’t need to worry about as they are based on pre-programmed sets of rules that stick to a certain strategy and don’t rely on emotion.

  • High-speed trading

Regardless of where you look it from – bots are just faster than people – they are capable of millions of computations and thousands of transactions across different time zones and various markets – all of this almost instantaneously.

Trades are executed quicker than a user would normally be able to, and this can be particularly useful on many occasions.

  • Consistency and discipline

Both of these are among the most important factors when it comes to becoming a successful trader and are also arguably some of the most challenging things to accomplish.

With a trading bot, you can execute your trades consistently, based on a well-researched strategy that you’ve put forth in advance, and be disciplined enough to see it play out.

Who’s This For?

As mentioned above, Trality is a convenient solution regardless of the skill-set of the user. It’s suitable for those experienced in coding through Python as the Python trading bots will allow you to make the most out of the quantitative skills and boost returns.

It’s also suitable for casual traders who are looking for a convenient entry into automated trading with the hope of increasing returns while also spending a lot less time executing trades manually.

In general, the platform is also appropriate for anyone who’s enthusiastic about trying out something cutting edge or wants to improve their current skills and dive into more sophisticated ways to trade.

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Source: https://cryptopotato.com/trality-algorithmic-trading-in-the-unpredictable-cryptocurrency-market/

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Cryptocurrency Exchanges in South Korea to Be Classified as Highly Risky

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South Korea continues to enforce stricter rules on the cryptocurrency space with the latest legislation to classify exchanges as high-risk entities. The move comes as the Asian country aims to enhance the monitoring of financial transactions and user ID verifications.

  • The Korea Times reported that the Financial Services Commission (FSC), South Korea’s financial watchdog, has implemented a new classification on cryptocurrency exchanges.
  • According to the new legislation, trading venues will be placed in the same category as other high-risk organizations.
  • This is the FSC’s latest attempt to strengthen financial transaction monitoring and user ID verification.
  • Those who refuse to comply with such verification procedures will be denied services. Furthermore, the lenders will have to file suspicious transaction reports to the Korea Financial Intelligence Unit (KoFIU).
  • The agency has outlined a growing number of exchange clients who have expressed concerns about the lack of protection for their funds on smaller trading platforms. Only four local exchanges have used real-name accounts cleared by banks out of 60.
  • Another recent measure aiming to enhance the customers’ protection came in early May. South Korea’s bank associated advised its members to investigate the rapidly growing number of alternative coins available for trading on exchanges due to increasing losses for investors.
  • At the same time, the country also plans to introduce a 20% capital gains tax on profits from cryptocurrency trading, which should become official in 2022.
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Source: https://cryptopotato.com/cryptocurrency-exchanges-in-south-korea-to-be-classified-as-highly-risky/

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