Connect with us

Blockchain

Bitcoin Struggles to Hold Above $10,000 as Risk of Serious Downside Grows

Bitcoin plunged overnight to lows of $9,900 once again, with bulls struggling to defend against it seeing further downside Analysts are widely noting that the cryptocurrency is now at risk of seeing even further downside in the near-term as it struggles to maintain above its crucial support One trader is noting that a continued bout of trading below $10,000 could strike a blow to the crypto’s technical structure He reckons that this will lead BTC […]

Republished by Plato

Published

on

  • Bitcoin plunged overnight to lows of $9,900 once again, with bulls struggling to defend against it seeing further downside
  • Analysts are widely noting that the cryptocurrency is now at risk of seeing even further downside in the near-term as it struggles to maintain above its crucial support
  • One trader is noting that a continued bout of trading below $10,000 could strike a blow to the crypto’s technical structure
  • He reckons that this will lead BTC down towards its next support around $9,600, with a defense of this level being critical for its mid-term outlook

Bitcoin has been seeing some turbulence throughout the past few days, with the cryptocurrency struggling to hold above $10,000 as bears attempt to invalidate the crypto’s mid-term uptrend.

This has caused it to erase the vast majority of the gains that it has been able to see throughout the past few months and has led analysts to forecast further near-term downside.

In the near-term, how BTC continues responding to $10,000 will be vital for understanding the cryptocurrency’s near-term outlook. A break back above this level may boost its short-term outlook and allow it to climb slightly higher in the near-term.

Bitcoin Struggles to Defense Key Support as Sellers Take Control

At the time of writing, Bitcoin is trading down just under 3% at its current price of $9,950. This is around the price at which it has been trading for the past few days.

Bulls have established the region between $9,900 and $10,000 as support, with each visit to this area being quickly absorbed by an influx of buying pressure.

It is important to note that this region does appear to be weakening, however, as the response by bulls to each visit here has grown tempered.

Analyst: BTC May Dive Towards $9,600 Before Finding Strong Support

Unless bulls can reclaim $10,000 in the coming few hours, there’s a strong possibility that a move down towards $9,600 is imminent. This is where its next key support level sits.

One analyst spoke about this in a recent tweet:

“Couldn’t really hold the $10,000 level (or it’s dipping beneath). The second scenario would be a closing of the CME gap, after which closing of the upper CME gap is next. $9,600-9,800 could be bottom level for now,” he said.

Bitcoin

Image Courtesy of Crypto Michael. Chart via TradingView.

How Bitcoin trends in the coming few hours should reveal whether or not its bull trend is over for the time being.

Featured image from Unsplash.
Charts from TradingView.

Source: https://bitcoinist.com/bitcoin-struggles-to-hold-above-10000-as-risk-of-serious-downside-grows/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-struggles-to-hold-above-10000-as-risk-of-serious-downside-grows

Blockchain

Amplifying Her Voice

Republished by Plato

Published

on

200+ SPEAKERS, 75+ Countries, 5 Continents, 3 DAYS | International Women’s Day Global Virtual Summit 

TOPICS INCLUDE: Blockchain, Digital Assets, FinTech, Artificial Intelligence, Women in Space Exploration, Global Women’s Entrepreneurship & Leadership, Podcasting, Healing & Wellness  

You are cordially invited to join us for this GLOBAL Virtual Summit celebrating the voices of women & girls around the world as we discuss new paradigms in reshaping the global digital economy and celebrate the launch of The State of Women Podcast Network in partnership with The State of Women Institute, SHEQONOMI, and Women Investing in Women DIGITAL.  

  1. Inviting all global partners & leaders committed to the economic empowerment of women to join us for various strategic opportunities
  2.  Our 3-day event will engage women entrepreneurs & women owned enterprises build bridges for global international trade & commerce
  3. Join us in setting a new global standard for the economic empowerment of women, especially small and large scale women entrepreneurs from leading economies, emerging markets, and industry thought leaders and mavericks leading Post-Pandemic Recovery.  

REGISTER HERE:  https://hopin.com/events/sheqonomi

ABOUT: 

Global investment into women led companies has reached an all time low during 2020. We are seeing many innovative ideas come out of developing nations across the globe that deserve more visibility and connectivity with qualified investors and partners who can help them grow and scale. Amplifying Her Voice will serve as a global platform that will bring such stakeholders together from within Bermuda economic development ecosystem to a broader global community of women entrepreneurs, investors, technologies, and industry professionals to accelerate both communication and unprecedented digital connectivity. This Roundtable will be the beginning of a series of conversations where professionals from within Bermuda’s innovation ecosystem may listen, learn, and share best practices with the global women’s entrepreneurship ecosystem where our global network of women investors and philanthropists will be invited. Your will have the opportunity to share your CALL’s to Action from local, regional, and global standpoints that will hopefully be a starting for deeper conversations and partnerships leading to change, investment, impact, and transformation. 

A worldwide pandemic, uncertainty, and troubles big and small over this past year have brought increasing challenges and anxiety—but they have also brought together women leaders and innovators around the globe: to share their ideas and innovations, to inspire and lift up one another, and to support women and change the world. Join us as we amplify their voices, celebrate their accomplishments, learn from their vision, and work together to invest in women. 

  • Join us as we co-create the NEW normal where our voices and our wisdom are valued. 
  • Listen to innovators, entrepreneurs, investors, and women on the front-lines who have developed solutions to global issues at scale addressing UN Sustainable Development Goals shaping the global economy, education, food security, climate change, space exploration, and more.
  • Participate in main stage content and breakout workshops on global women’s entrepreneurship, healing and wellness, and the latest in blockchain and cryptocurrency investing.
  • Bring your curiosity and connect with our global community in our breakout sessions and networking receptions.
Continue Reading

Blockchain

NEXT Chain: New Generation Blockchain With Eyes on the DeFi Industry

Republished by Plato

Published

on

[Featured Content]

The cryptocurrency industry is booming throughout the past year, and the increase in the total market capitalization is definitive proof.

The market is, at the time of this writing, valued at about $1.5 trillion. The same can be said about the DeFi industry. The total value locked in various protocols exceeds $39 billion, and the direction has been up only for quite some time.

However, this has also brought certain inefficiencies in different solutions, including Ethereum. Transaction fees on the network surge as it’s clogged by new participants. This is the reason we’ve seen plenty of alternative solutions being developed to tackle these issues.

NEXT chain is a new-generation blockchain that allows the tokenization of various assets, making them instantly tradeable at quick speeds and low fees.

What is NEXT Chain?

NEXT Chain is a blockchain that allows anyone to create and maintain their own digital assets in a manner that’s easy and rather similar to the ERC20 protocol standard running on Ethereum. All assets are tradeable directly as the team’s aim is to deliver transparent liquidity to existing and new projects.

The capabilities of the network include but are not limited to:

  • Issuing digital fungible assets such as bonds, stocks, and other securities
  • Creating non-fungible tokens (NFTs)
  • Creating and managing sovereign and decentralized identities
  • Design and run other types of arbitrary-complex smart contracts

It’s also worth noting that the blockchain is up and running since April 2019. It already has almost 200 master nodes, and, as the team reports, it doesn’t have a single failed transaction.

Additionally, the team aims to deliver the most profit for its community by taking advantage of different financial activities while also putting real-backed assets on-chain such as company stocks or commodities like gold, for example. It will also be connected to a fiat gateway, so there’s no middleman if the user decides to swap to EUR or USD, for instance.

The team has implemented a combination of Proof of Work and Proo of Stake consensus algorithms with master node validators acting as a Layer 2 technology. This allows the network to achieve high transactional throughput, typical of PoS networks, while also keeping the PoW principles to guarantee that miners calculate hashes with strong encryption.

Some of the advantages of these integrations include low transaction fees, high speeds, and scalability.

What Are the Benefits for Projects and Investors?

Teams are incentivized to build on NEXT Chain through a variety of different mechanisms, mainly through the capabilities of the blockchain itself.

They can create assets quickly and easily and also take advantage of crowdfunding opportunities. The transactions are quick, and the fees are comparatively lower. The team reports that the blockchain can handle up to 10,000 transactions per second (TPS) which is considerably more than Bitcoin or Ethereum’s chains.

On the other hand, investors can benefit from liquidity farming, staking rewards, master node rewards, mining, as well as from master node governance.

The NEXT Exchange

Another important part of NEXT’s ecosystem is the NEXT Exchange. It’s built on the proprietary blockchain, and it’s fueled by master nodes that allow it to reach a very high transactional throughput.

Each user retains full custody over their funds and gains access to their own private keys. It’s also worth noting that the team is building an alternative to Uniswap and PancakeSwap as the leading decentralized exchanges on Ethereum and Binance Smart Chain, respectively.

In addition to that, there are other initiatives that the project has in store, such as:

  • New and updated desktop wallet
  • Upgraded block explorer
  • A mobile app
  • Integrating smart contracts on NEXT chain
  • Atomic swaps
SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.


Source: https://cryptopotato.com/next-chain-new-generation-blockchain-with-eyes-on-the-defi-industry/

Continue Reading

Blockchain

Cardano, NEM, Sushiswap Price Analysis: 03 March

Republished by Plato

Published

on

Even though the on-chain metrics for Cardano, NEM, and SUSHI pointed to a short-term pullback, the fate of the altcoins rested with the bullish cues from Bitcoin and Ethereum. If the technicals do hold up, the aforementioned coins would need to bypass a period of bearishness, before continuing their northbound movement.

Cardano [ADA]

Source: ADA/USD, TradingView

Cardano maintained its position as the world’s third-largest cryptocurrency with a market cap of slightly under $40 billion. Interestingly, a jump of 23% over the last seven days also made Cardano the highest weekly gainer among the top-10 coins by market cap. At press time, ADA was trading just below record levels, while preserving its healthy uptrend on the daily charts.

The Parabolic SAR confirmed the bullish nature of the price as the dotted markers moved below the candlesticks. On the downside, a bearish divergence was spotted on the RSI after the index formed lower highs in the overbought region. With market leaders picking up the pace at the time of writing, bearish predictions for ADA could be offset by bullishness in the broader market.

NEM [XEM]

Source: XEM/USD, TradingView

NEM was another example of a cryptocurrency that registered healthy gains in a largely subdued crypto-market after the price jumped by over 40% in a week even as the market leaders moved sideways. The said hike was boosted by strong bullish momentum, with the same highlighted by the green bars on the Awesome Oscillator.

On the flip side, the Relative Strength Index noted a saturation of buyers in the market and highlighted a bearish pullback. The support level at $0.7 could be in focus in such a scenario. Nevertheless, expect NEM to continue its ascension on the charts post the correctional period.

SushiSwap [SUSHI]

Source: SUSHI/USD, TradingView

SUSHI was trading in the red territory at press time as the price dropped by nearly 5%, compared to yesterday. Even though SUSHI picked up from the $17.24-support level on the 4-hour charts, low trading volumes and buying activity meant that a move towards record levels was unlikely over the coming sessions.

The MACD closed in on a bearish crossover as the green bars fell on its histogram. The CMF was optimistic in its outlook as the index rose above the half-way mark and highlighted the flow of capital. In fact, there was a chance that SUSHI could sustain itself above its press time support, even in a bearish scenario.


Sign Up For Our Newsletter


Source: https://ambcrypto.com/cardano-nem-sushiswap-price-analysis-03-march

Continue Reading
Blockchain2 days ago

Why Mark Cuban is looking forward to Ethereum’s use cases

Blockchain3 days ago

Google Finance adds dedicated ‘crypto’ tab featuring Bitcoin, Ether, Litecoin

Blockchain5 days ago

Crypto Investment Fund to Sell $750M in Bitcoin for Cardano and Polkadot

Blockchain5 days ago

This was avoidable – The lost Bitcoin fortunes

Blockchain4 days ago

Economist warns of dystopia if ‘Bitcoin Aristocrats’ become reality

Blockchain3 days ago

Inverse Finance seizes tokens, ships code: Launches stablecoin lending protocol

Blockchain3 days ago

NBA Top Shot leads NFT explosion with $230M in sales

Blockchain4 days ago

Here are 6 DEX tokens that have seen exponential growth in 2021

Blockchain3 days ago

Korean Government To Levy Taxes On Bitcoin Capital Gains Starting 2022

Blockchain3 days ago

How KuCoin Shares (KCS) Can Create a Stream of Passive Income

Blockchain3 days ago

Litecoin, Monero, Dash Price Analysis: 28 February

Blockchain4 days ago

PARSIQ Integrates Solana Blockchain on its Platform

Blockchain4 days ago

XRP, STEEM, Enjin Price Analysis: 27 February

Blockchain4 days ago

3 reasons why Reef Finance, Bridge Mutual and Morpheus Network are rallying

Blockchain5 days ago

‘Bitcoin could reach $1 million or $1, and may do both of those’

Blockchain4 days ago

6 Questions for Kain Warwick of Synthetix

Blockchain3 days ago

Top 5 cryptocurrencies to watch this week: BTC, BNB, DOT, XEM, MIOTA

Blockchain3 days ago

Polkadot, Cosmos, Algorand Price Analysis: 28 February

Blockchain3 days ago

How did Bitcoin lending become so popular?

Blockchain4 days ago

What are the risks of trading cryptocurrencies?

Trending