Connect with us
[crypto-donation-box]

Blockchain

Bitcoin price in H & S after pump and dump?

The king of cryptocurrency Bitcoin BTC has been soaring as the Bitcoin price moves past $11700 range since the 2nd of September after moving into two different short term head and shoulders. The king of cryptocurrency is notorious and for a well earned reputation. It looks like Bitcoin price is now living proof of the […]

Republished by Plato

Published

on

The king of cryptocurrency Bitcoin BTC has been soaring as the Bitcoin price moves past $11700 range since the 2nd of September after moving into two different short term head and shoulders. The king of cryptocurrency is notorious and for a well earned reputation. It looks like Bitcoin price is now living proof of the cryptocurrency king’s known fluctuations that amount to the most part in the recent history of the cryptocurrency price movements.

Bitcoin price in a possible head and shoulders?

Bitcoin price moved into a short term reverse head and shoulder movement as predicted a couple of days ago albeit only to fall back into two back to back short term head and shoulders. Despite the two patterns evident on the price charts the cryptocurrency managed to break past the psychological barrier of $11700 range and onto the $11900 range after briefly enjoying a move past the $12000 mark. But, of course, that was not the end of the line nor the price movement.

While writing these lines Bitcoin price is still fluctuating to find some consolation above the $10000 mark. This is one of the most important falls in the past few months since September is known to be the make and beak month for the traders. Most hodlers wait year long in the psychological pattern that appears every year in the last quarter of the year. Traditionally the third quarter sees the highest yearly rise in the Bitcoin price and all year around losses are usually covered in this time.

Bitcoin price on the analysts’ radar

Last week famed Trading View analyst Trading Shot predicted that the cryptocurrency king is moving into a pump and dump action and that is a good reason to believe that the price if going to go further down. The expert analysis coupled with the current BTC price movement is tantamount to the fact that the cryptocurrency is in for a long action and may fall further down before rising up to the new highs. But even the analyst wasn’t expecting such a bad fall for the King.

Excavo is another major cryptocurrency analysts who believes that the king of cryptocurrency is headed for a long term price movement and the bears would not last much longer. Excavo believes that the king has hit the major support line and there is no further falling then the current price levels.

The analyst finds the major support bar covering the $9918 – $1081 range, that happens to cover Bitcoin price. They further believe that the cryptocurrency would soon take a hike and the support levels would move to the $10722 – $10986 range. Yet, the time line is not very clear on this hike.

Given the current market sway and the fact that DeFi is attracting more attraction than the traditional cryptocurrency investment makes the market even more volatile. Cautious trading at this point is going to be crucial, yet, the day traders would be able to make some money off the fluctuations, but not in large chunks.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.

Source: https://www.cryptopolitan.com/bitcoin-price-in-hns-pump-a-dump/

Blockchain

Bitcoin Taproot upgrade finally achieves activation lock-in!

Republished by Plato

Published

on

The much-anticipated Bitcoin Taproot upgrade passed the Speedy Trial, which was a signaling period which gauged support for the upgrade from bitcoin’s mining sector. Since SegWit, Taproot has been touted as the next significant upgrade for Bitcoin.

Data from Taproot.watch, a webpage created by Bitcoin developer Hampus Sjöberg, released an interesting yet hilarious video to announce the completion of the lock-in stage.

On the official page, it read:

“This period has reached 1815 Taproot signaling blocks, which are required for lock-in.”

Different mining pools tweeted their support for the upgrade on their respective platforms with Slush Pool being the first to do so.

AntPool also supported the upgrade.

What’s next?

Bitcoin core developer Pieter Wuille further elaborated on the path leading to the full activation step for Taproot in a series of tweets. He stated:

“As of block 687284, Taproot signalling has reached 1815 blocks this period, guaranteeing that absent very deep reorgs, it is guaranteed to lock in. Following that, it will activate at block 709632, probably around mid-November 2021.”

He also addressed that ‘there is a lot of work left of course’, which included:

a) PSBT extensions to communicate Taproot keys/scripts/signatures,

b) MuSig2 standardization so the software can cooperate in signing,

c) Output descriptors,

Why is it so important?

Fred Thiel, CEO of Marathon Digital Holdings stated:

“With this upgrade, you’ll see Bitcoin to be the settlement network. Funds are transferred from one institution to another, say one bank to another.”

He added,

“The update would lower the data size of smart contracts, in turn lowering transaction costs. Taproot is also expected to enhance smart contract functionality and efficiency.”

Jeremy Rubin, a Bitcoin Core contributor and founder of Judica projected a similar optimistic narrative,

“With taproot, you get optimization of Bitcoin, much different from how people know Bitcoin today- little too inefficient or reveal too much information about what you’re trying to do. Taproot helps to be private and efficient.”


Subscribe to our Newsletter


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/bitcoin-taproot-upgrade-finally-achieves-activation-lock-in

Continue Reading

News

Ethereum Classic (ETC) Price Poised for a Surge to $100

Avatar

Published

on

By

  • Ethereum Classic (ETC) looks poised for a surge
  • Technical indicators show that ETC could go up to $105
  • Also, one reason that could help the altcoin surge is its upcoming ECIP-1103 upgrade

Ethereum Classic price poised for a surge. The altcoin has been outperforming the market recently but can it bounce back over the $100 resistance level?

The crypto market has been experiencing a rough ride. Many altcoins have sunk to less than half their value in less than a month. However, Ethereum Classic managed to rebound faster than most of the market. In addition, the altcoin has managed to hold its ground against the bearish market.

In fact, looking at Ethereum Classic price charts, the asset looks poised for a surge.

Ethereum Classic price charts

At the time of writing, ETC is trading at $55.01, down 67% from its May 8 all-time high of $167.09. However, looking at the crypto’s Fibonacci levels, ETC could go up to ranging from $74 to $105. The price rise depends on whether ETC manages to breach the $60 resistance level. Looking at RSI, ETC is just above 40 and is thus in the safe zone.

On the other hand, ETC price could fall to $9 if the market turns on the crypto.

Possible reasons why ETC has been outperforming the market could be the crypto’s recently announced new upgrade scheduled for July 21. The upgrade will implement ECIP-1103 and include ETH’s Berlin Upgrade.

Also, perhaps investors deem the altcoin a good asset to diversify into and hedge against Bitcoin and ETH volatility. ETC has a limited coin supply of 210 million. In comparison, sister blockchain ETH has an unlimited supply. As such, ETC’s token value is likely to appreciate once the blockchain reaches its maximum token supply.

In addition, the underway ETH 2.0 upgrade will help further differentiate ETC from its more popular sister ETH. In this case, ETC could prove to be a good way for investors to diversify their portfolios.

Finally, ETC holds sentimental value for those who wish to see what ETH would look like if the platform followed its initial roadmap.

Source: https://coinquora.com/ethereum-classic-etc-price-poised-for-a-surge-to-100/

Continue Reading

News

Shiba Inu Drops Hard Below Critical Support Level

Avatar

Published

on

By

  • Shiba Inu’s price hit below its critical support level of $0.000007.
  • Its price is now is going for new lows of $0.00000630.
  • SHIB needs to reach above $0.000007 to change the momentum and go up.

Notwithstanding a recent drop in the crypto market, Shiba Inu (SHIB), the meme-based coin named as “Dogecoin killer” has not disappeared. However, there are still some struggles that SHIB has to face.

As of writing, SHIB’s price hit below its critical support level of $0.000007 and is headed for new lows of $0.00000630. Meanwhile, If Shiba Inu breaks through the $0.00000630 support level, it will go to the $0.00000440 support level.

Now, to acquire momentum and make it go up, SHIB needs to reach above $0.000007. Otherwise, if SHIB is able to break through this resistance, it will go on to the next level of resistance at $0.000008.

Numerous individuals think that the SHIB’s rise recently is merely because of the community. In any case, there are different conditions that help the crypto gain investor’s interest. Respectively, SHIB announced its listing in Binance last month.

Furthermore, Shiba Inu will establish its own exchange soon called ShibaSwap. With this,   another decentralized exchange (DEX) like UniSwap or PancakeSwap will be available in the market. Of note, the platform has been operational for a while, but it is still undergoing some tests for security and transparency development.

On another note, many experts and analysts have shared their predictions for SHIB. Market experts even outlined a strategy for Shiba Inu to hit the $1. To reach $1, SHIB needs to increase around12,000,000%.

Consequently, the coin has increased by around 2,000,000 percent monthly since January. Moreover, according to Market Realist, if SHIB  continues to expand at this rate, it might touch $1 by the end of 2021.

Lastly, based on Wallet Investor, Shiba Inu’s price is expected to hit $0.000030 by June 2021 and could rise to $0.000048 at the end of the year.

Source: https://coinquora.com/shiba-inu-drops-hard-below-critical-support-level/

Continue Reading
Blockchain5 days ago

World Economic Forum Seeks to Offer Clear Policy Landscape For DeFi

Blockchain4 days ago

The Colombian President’s Advisor to Peter Schiff: Stop Talking and Short Bitcoin

Blockchain5 days ago

World Economic Forum Releases a DeFi Policy Toolkit for Fair and Executable Regulations

4 days ago

Pokemon GO: How to Get Alolan Slowpoke

Blockchain4 days ago

1,100 people arrested by Chinese Police on crypto-related money laundering charges

Blockchain4 days ago

Axie Infinity Price Prediction 2021-2025: AXS Token Can Hit $40 by 2025

Uncategorized4 days ago

Battlefield 2042 officially revealed

Blockchain4 days ago

How Does Bitcoin Mining Work? Is It Profitable in 2021?

Blockchain5 days ago

XRP lawsuit: Is the SEC ‘triply wrong’ about its latest filing?

Blockchain2 days ago

MT5 Will Phase Out MT4, but It Will Take Time

Blockchain2 days ago

Trouble Looms For Bitcoin As U.S Looks to Bar Holders From Converting Crypto To USD

Blockchain4 days ago

XRP lawsuit: What’s the ‘existential threat’ Ripple is facing?

Uncategorized4 days ago

The UNICEF is investing in five crypto startups via Ethereum (ETH)

Blockchain3 days ago

TrustDice Review: Features & Promotions

Blockchain2 days ago

LegendsOfCrypto Performance Update

Featured4 days ago

Revolut App Launches Dogecoin Trading To Its Platform

Blockchain3 days ago

Third-Party Results of Credits’ Blockchain Speed Test

Uncategorized4 days ago

Skins of soccer superstars Marco Reus and Harry Kane to arrive in Fortnite this week, according to data miner

Blockchain4 days ago

Leading Blockchain Game Splinterlands Completes Digital Land Sale of 150k Plots

4 days ago

Pokemon GO: A Very Slow Discovery Challenge Explained

Trending