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Blockchain

Bitcoin falls to $45K in sequel to 20% BTC price crash

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Bitcoin (BTC) extended its losses on Feb. 23 as selling pressure took markets below $47,000 for the first time in over a week. 

BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview

Fresh dive takes BTC/USD to 8-day lows

Data from Cointelegraph Markets and TradingView painted a gloomy picture for bulls on Tuesday as BTC/USD hit lows of $45,000 on Bitstamp. 

The losses reverse a rebound that halted Monday’s 20% price crash from all-time highs near $58,000. Bitcoin bounced at $47,400 on the day to return to $54,000 before a fresh dip took hold.

At the time of writing, $47,000 was again acting as some form of focus for support, with the trajectory still unclear amid heavy volatility.

Analysis of buy and sell positions produced little hope for stemming losses should that level fail, with support lacking below $46,500.

BTC/USD support and resistance levels chart. Source: WhaleMap

$50,000 set to become resistance again

For analysts, however, even the prospect of a more serious retracement was nothing to fear. Compared to previous price dips, the current one was a drop in the ocean.

“We’ve experienced 2018 & 2019. This is nothing,” Cointelegraph Markets analyst Michaël van de Poppe summarized to Twitter followers.

In an accompanying YouTube update, he forecast that should bears take hold, Bitcoin could be in for what is classic behavior for the month of March, which traditionally sees corrections.

“Approaching bounce region for Bitcoin. I think we’re close now,” a further tweet added.

“Resistance zone at $48,500 and $51,000.”

As Cointelegraph reported, theories explaining the downturn range from whale sell-offs to natural market cycles. 

Source: https://cointelegraph.com/news/bitcoin-falls-to-45k-in-sequel-to-20-btc-price-crash

Blockchain

Is Margex A Legit Exchange?

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The Margex Team set out to provide a secure and easy-to-use Bitcoin-based derivatives exchange, giving traders access to global cryptocurrency markets and up to 100x leverage.

General Information:

Web Address https://margex.com/app/signup

Main Location ㅡ Seychelles.

Fees: Very low.

When did you launch? ㅡ 2020.

Does Margex accept traders resident in the USA? ㅡ No.

What cryptocurrencies are available to trade on the platform? ㅡ  BTCUSD, ETHUSD, XRPUSD, EOSUSD, LTCUSD, and YFIUSD.

Taker fee (excluding any volume-based discounts) ㅡ 0.060% more details available here. 

Maker fee (excluding any volume-based discounts)

0.019%, more details available here. 

Fee for withdrawing BTC

The current charge is 0.0005 BTC depending on network activity.

Is wire transfer an available deposit method?

Yes, via the Changelly widget.

Is credit card payment an available deposit method?

Yes, via the Changelly widget.

Do you offer fiat withdrawals?

No.

Can users deposit cryptocurrencies from other exchanges/wallets?

Yes.

Do you offer an affiliate program?

Yes, the referral program offers 40% flat rate commissions to all applicants. Full details can be found here – https://margex.com/referral

Do you offer leveraged trading?

Yes, up to 100x is available.

Do you offer futures with expiry dates?

No.

Do you offer perpetual futures?

Yes, with up to 100x leverage.

Main Benefits:

  • The most intuitive UI in the industry as nominated by Finance Magnates.
  • Easy to start and advanced enough for pro traders.
  • Real-time deal indicators, including trading fees, financing, PnL, etc.
  • Simultaneous stop loss/take profit options to avoid being stuck screen watching.
  • Unique MP Shield™ AI-based system to counteract price manipulation and unfair liquidations.
  • Pricing pegged to average per leading spot exchanges.
  • Adjustable isolated leverage up to 100x on all assets.
  • Choose to trade BTC, ETH, LTC, XRP, EOS, and YFI.
  • High liquidity backed by verified liquidity providers.
  • Low fees.
  • No KYC to trade.
  • Referral program offering 40% flat rate commissions.

Fees:

PAIR MAKER FEE TAKER FEE FUNDING/LONG FUNDING/SHORT FUNDING INTERVAL
BTC/USD 0.019% 0.060% 0.26% 0.18% 8 hours
ETH/USD 0.019% 0.060% 0.30% 0.25% 8 hours
EOS/USD 0.019% 0.060% 0.20% 0.07% 8 hours
LTC/USD 0.019% 0.060% 0.35% 0.55% 8 hours
XRP/USD 0.019% 0.060% 0.15% 0.10% 8 hours
YFI/USD 0.019% 0.060% 0.30% 0.40% 8 hours

 

Referral Program:

The Margex Referral Program offers an excellent way to build a passive income stream. By sharing your affiliate link, you can create a referral network of traders and receive 40% of the trading fees paid by your referrals.

The “Referral” page of your account shows details of your referral network, including network statistics, the status of referral payouts, as well as additional materials, such as a Marketing Kit, that will help grow your referral network and increase your earnings.

Referral payouts are processed daily between 12:00 and 15:00 UTC. Pending referral payouts are updated hourly on the “Referral” page and are credited to your account wallet balance, and can be further withdrawn or used for trading.

Security:

Margex has developed a sophisticated security framework using best industry practices and in-house developments, including the MP Shield System. Our security experts work to ensure a safe and reliable trading experience.

Margex security systems consist of several layers, each with its own security protocols and controls that are regularly audited by staff and independent security experts.

Leverage Trading:

Margin trading refers to a process that increases your purchasing power and exposure to the market. In other words, the platform loans you more of the asset to increase your trading power.

For example, a 1:100 leverage means for every 1 BTC you hold; you trade with 100 BTC. This allows the opening of positions worth more than the funds you have.

However, while high leverage can potentially help you make more money from trading, it can also increase your losses. Therefore, it is crucial to take time to understand how leverage works. A good tip is to learn how to trade before using leverage.

Is Margex Safe?

Despite being a relative newcomer, Margex takes the safety and security of its users seriously. The company boasts some of the most sophisticated security features in the industry to protect client data, funds, and trading activities.

Sign up on Margex ㅡ https://margex.com/app/signup

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Blockchain

XDC Technical Analysis: May Soon Fall Below the First Fibonacci Pivot Support Level of $0.058

XDC Technical Analysis: May Soon Fall Below the First Fibonacci Pivot Support Level of $0.058

Rate this post XinFin Network is an enterprise-level hybrid blockchain network that aims to provide further impetus to global trade and finance. It is powered by smart contracts and has characteristics of both public and private blockchains. It is a decentralized, interoperable, and PoS-based network. XDC is the in-house token of this ecosystem. Let us look at the technical analysis of XDC. Past Performance On Jun 15, 2021, XDC opened at $0.05. On Jun 21, 2021, XDC closed at $0.06. Thus, in the past week, the XDC price has decreased by roughly 20%. In the last 24 hours, XDC has traded between $0.058 – $0.072. https://platoblockchain.net/wp-content/uploads/2021/06/xdc-technical-analysis-may-soon-fall-below-the-first-fibonacci-pivot-support-level-of-0-058.png Day-Ahead and Tomorrow Currently, XDC is trading at $0.061. The price hasn’t changed much from the day’s opening price of $0.06. Thus, the market seems neutral. The MACD and signal lines are positive.  Thus, the overall market momentum is bullish. However, a bearish crossover by the MACD line over the signal line has occurred. Hence, we can expect a price pullback. Currently, the RSI indicator is at 63%. It faced rejection at 58% and rose to the current level. Hence, buying pressures are high. High buying activity will push the price upwards. Besides, the OBV indicator is upward sloping. Thus, buying volumes are much higher than selling volumes. In other words, the OBV indicator is giving further credence to the positive momentum indicated by the RSI oscillator. In short, when we look at all three oscillators together, we can say that the overall market momentum is currently bullish. However, an intermittent price pullback amidst a bearish trend is expected. In other words, the market seems to be in a correction phase. XDC Technical Analysis Currently, the price is below the Fibonacci pivot point of $0.063. It may soon fall below the first Fibonacci pivot support level of $0.058. Thereafter, we have to wait and watch if the price continues to decline or starts rising again. The price has tested and fallen below the 76.4% FIB retracement level of $0.061. The price may soon fall below the 24-hour low of $0.058 as well. If the price retests and breaks out of these levels by day end, then probably the price uptrend is strong enough to sustain till tomorrow.

The post XDC Technical Analysis: May Soon Fall Below the First Fibonacci Pivot Support Level of $0.058 appeared first on Cryptoknowmics-Crypto News and Media Platform.

Republished by Plato

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Table of Contents

Rate this post

XinFin Network is an enterprise-level hybrid blockchain network that aims to provide further impetus to global trade and finance. It is powered by smart contracts and has characteristics of both public and private blockchains. It is a decentralized, interoperable, and PoS-based network. XDC is the in-house token of this ecosystem. Let us look at the technical analysis of XDC.

Past Performance

On Jun 15, 2021, XDC opened at $0.05. On Jun 21, 2021, XDC closed at $0.06. Thus, in the past week, the XDC price has decreased by roughly 20%. In the last 24 hours, XDC has traded between $0.058 – $0.072.

https://platoblockchain.net/wp-content/uploads/2021/06/xdc-technical-analysis-may-soon-fall-below-the-first-fibonacci-pivot-support-level-of-0-058.png

https://platoblockchain.net/wp-content/uploads/2021/06/xdc-technical-analysis-may-soon-fall-below-the-first-fibonacci-pivot-support-level-of-0-058.png

Day-Ahead and Tomorrow

Currently, XDC is trading at $0.061. The price hasn’t changed much from the day’s opening price of $0.06. Thus, the market seems neutral.

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The MACD and signal lines are positive.  Thus, the overall market momentum is bullish. However, a bearish crossover by the MACD line over the signal line has occurred. Hence, we can expect a price pullback.

Currently, the RSI indicator is at 63%. It faced rejection at 58% and rose to the current level. Hence, buying pressures are high. High buying activity will push the price upwards.

Besides, the OBV indicator is upward sloping. Thus, buying volumes are much higher than selling volumes. In other words, the OBV indicator is giving further credence to the positive momentum indicated by the RSI oscillator.

In short, when we look at all three oscillators together, we can say that the overall market momentum is currently bullish. However, an intermittent price pullback amidst a bearish trend is expected. In other words, the market seems to be in a correction phase.

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XDC Technical Analysis

Currently, the price is below the Fibonacci pivot point of $0.063. It may soon fall below the first Fibonacci pivot support level of $0.058. Thereafter, we have to wait and watch if the price continues to decline or starts rising again.

The price has tested and fallen below the 76.4% FIB retracement level of $0.061. The price may soon fall below the 24-hour low of $0.058 as well. If the price retests and breaks out of these levels by day end, then probably the price uptrend is strong enough to sustain till tomorrow.

#XDC #XinFin

Source: https://www.cryptoknowmics.com/news/xdc-technical-analysis-may-soon-fall-below-the-first-fibonacci-pivot-support-level-of-0058/

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Blockchain

Is it really ‘dangerous to give predictions on’ this Ethereum high?

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Ethereum, the second-largest public cryptocurrency based on market capitalization, has shown remarkable growth over the past year. The largest altcoin has witnessed institutional as well retail interest especially considering the buzz around its much-anticipated upgrade. Pete Humiston, the current manager of Kraken Intelligence laid out a significant difference between Bitcoin and Ethereum, stating:

  • The number of ETH whales (wallets > 10K ETH): At an all-time HIGH
  • The number of Bitcoin whales (wallets >1k BTC): Approaching a year-to-date LOW

Source: Pete Humiston| Twitter

In a recent interview with New York Magazine, Bitcoin bull Mike Novogratz shared his optimistic thoughts on the altcoin as well. Founder and CEO of Galaxy Digital, Novogratz predicted a meteoric urge that can surpass ETH’s previous ATH.

In April, ETH recorded an ATH price mark of around $4,362. According to Novogratz, it can cross the previous mark because of the following factors,

“We already had payments and stable coins that really kind of gave Ether the kick last year. But then all of a sudden, you have decentralized finance (DeFi) and NFTs (non-fungible tokens) both on Ethereum at the same time roughly, with wild accelerating growth.”

Further, he added:

“You know, it’s dangerous to give predictions on the highs. But could it get to $5,000? Of course, it could.”

Novogratz currently has invested around 85% of his net worth in the crypto industry. Ethereum, at the press time, was trading just under the $2100 price mark with a correction of 8.2% in the past 24 hours.

Another analyst presented his take on the Ethereum vs Bitcoin debate:

Adoption

Apart from Bitcoin’s institutional adoption, El Salvador became the very first country to make Bitcoin a legal tender. Following this news, other Central and South American countries have started to look at incorporating Bitcoin.

On the other side, Ethereum has had no such luck (at least not yet). However, with the anticipated tech upgrade, one might see ETH’s adoption rates increasing.


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Source: https://ambcrypto.com/is-it-really-dangerous-to-give-predictions-on-this-ethereum-high

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