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Bullish Trend Awaits the Crypto Space With Bitcoin Price Going to the Moon

Bitcoin Price Rally

Crypto Market on Correction Phase The crypto space was adversely impacted with most of the digital assets and the DeFi tokens plunged throughout the week. However, the crypto market today has entered the correction phase with most of them painted in green. On the other hand, bitcoin is still struggling to maintain a five-digit price, …

The post Bullish Trend Awaits the Crypto Space With Bitcoin Price Going to the Moon appeared first on Cryptocurrency information | Cryptocurrency News | Bitcoin News and Crypto Guide.

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Crypto Market on Correction Phase

The crypto space was adversely impacted with most of the digital assets and the DeFi tokens plunged throughout the week. However, the crypto market today has entered the correction phase with most of them painted in green.

crypto price chart

On the other hand, bitcoin is still struggling to maintain a five-digit price, finding the support levels above $10000. The September crash is speculated as a resemblance of the March 2020 dip, wherein Bitcoin had slipped to the lowest level below $4000. But within 6 months it managed to cross $11000 and maintain for a pretty good time.

Also Read: Should I Invest In Bitcoin Or Gold?

Don’t Sell-Off Says the Analysts

Few analysts in the crypto space Predict that Bitcoin price could probably bounce back very soon with soaring prices. Currently, BTC price is trading at $10,100 with 0.68 percent loss. 

If we look into the recent March 2020 crash and the current September crash, patterns appear to be similar. And, therefore, the gains also can skyrocket with good returns.

Bitcoin price chart

In fact, the March crash had the support levels somewhere between $3000 and $4000, but in the present times, Bitcoin is finding its support above $10000. And therefore if the digital asset bounces back, then it could possibly reach new ATH.

Also Read: Bitcoin Expected to Continue With Bearish Trend- Is It a Good Time to Invest?

Co-founder and Partner at Morgan Greek digital, Jason A.Williams, recently tweeted about his bitcoin holding and cash reserves. He said that he has more money held in Bitcoin and Stablecoins than traditional bank accounts.

Moreover, according to a user called 21Million, nearly 30.9 percent of the circulating supply of Bitcoin has not moved from the past 3 years. It accounts for nearly 5.7 million BTC which remain stagnant since September 2017.

It points out that the crypto bulls and whales are stacking their bitcoin holdings for the major bull rally in the coming days.

Interesting Read: What are the Things to Know About Bitcoin Casinos

Summarizing the whole story, Bitcoin is one of the most traded digital assets ever and the world’s sixth-largest currency. Therefore many factors affect the price which tends to fluctuate every now and then. But the prime focus is the correction level of the digital asset after each dip which signifies the possible benchmark of the new highs.

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Article Name

Bullish Trend Awaits the Crypto Space with Bitcoin Price going to the Moon

Description

After the weekend dip, the market witnessed a slight surge with most of the cryptos gaining the momentum. Bitcoin expected to bounce back soon, finding a new support level above the current mark.

Author

Sara

Publisher Name

Coinpedia

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Source: https://coinpedia.org/news/bitcoin-price-going-to-moon/

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What’s the prevailing price plot for Ethereum?

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Ethereum’s price has recovered from the weekend blues: the price is up 7%. There is an uptick in exchange inflows after a consistent drop in percent balances across exchanges since the end of April 2020. However, the overall exchange net flow has hit a 1-month low based on data from Glassnode.

Ethereum’s market cap has dropped to $397 Billion level, from $500 Billion. This drop in market capitalization and market dominance has placed Ethereum below US Top Banks.

What's in store for ETH HODLers

Market Dominance of ETH || Source: Coinmarketcap.com

There is a slow volume uptick on decentralized exchanges and based on the below chart, ETH HODLers have dropped from 65% to 57% based on on-chain data from intotheblock. Based on the below chart, ETH HODLers are stubbornly bullish.

What's in store for ETH HODLers

ETH Exchanges Reserve || Source: Twitter

The drop in exchanges reserve is bullish for ETH, however, this narrative is likely to change in the short-term since Bitcoin is now rallying, trading above the $45000 level. The inflow of investment from Bitcoin to Ethereum may dwindle or stop, based on the dropping BTC balances across exchanges and despite the likelihood of this, HODLers continue to be bullish on ETH.

L2 scaling solutions have offered high transaction settlement in numbers and volume, at 0.0001% of the fees, as in the case of MATIC, and this has further added to ETH’s bullish narrative. It is likely that the drop in price earlier last weekend was due to panic selling, large wallets rotating ETH for other altcoins, memecoins or accumulating more Bitcoin in the process.

However, these traders are likely to accumulate at a higher price. This may bring down the percentage of HODLers profitable at a given price level in on-chain analysis. The only profitable entity, in that case, is the exchange that profits from the transactions. However, more ETH is being staked on exchanges like Coinbase and it is likely HODLers see through the dip, before a rally to the $6000 level, as projected earlier.

The on-chain sentiment is currently neutral and large transactions on the ETH network have dropped in the past week. The social volume has dropped below the level it was a week ago when memecoins were offering double-digit ROI and ending up a part of several trading portfolios. ETH HODLers may be neutral at the moment and they turn bullish by the end of the week.


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Source: https://ambcrypto.com/whats-the-prevailing-price-plot-of-ethereum-for-its-hodlers

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Market Analysts Say Bitcoin Holders Are Adding On Dips, Noobs Panic Sell

Market Analysts Bitcoin Holders

Rate this post The leading market analysts believe that the long-term holders of Bitcoin are adding the cryptocurrency on dips whereas the people who are beginners are selling the digital assets. The noobs in the crypto industry are selling off their asset and are losing their positions due to the panic situation in the market. Bitcoin Holders Stacking Up, Tells Market Analysts Well, the prices of the leading cryptocurrency seem to have stabilized over the past 24 hours as the panic selling has lowered and the noobs appear to have been pushed out of the market. At the time of writing this article, the price of bitcoin is $45,400, which is up 5% since yesterday, and its low during this period of correction went to as low as $42K on May 17. In addition to this, it should be noted that the correction has already shed 35% in 35 days which ultimately declared it to be the largest one of the current rally and almost copying a likely correction that occurred during the year 2017. Using the data from the weekly report of Glassnode, the analysts have confirmed that the recent entries in the market have surrendered at a loss while the long-term holders have continued to make purchases at the dips. Weak Hands and Noobs Panic Selling  In response to the tweet shared by the owner of Tesla, Elon Musk, heavy selling was witnessed in the market that ultimately led to the tumbling in the prices of Bitcoin to their lowest levels in 20 weeks. Glassnode, the on-chain analytics provider mentioned that the total number of addresses holding a non-zero BTC balance has also retreated from its ATH of 38.7 million as over a million traders in the market elucidated their positions.  Along with this, Glassnode stated: “A total of 1.1M addresses have spent all coins they held during this correction, again providing evidence that panic selling is currently underway.”

The post Market Analysts Say Bitcoin Holders Are Adding On Dips, Noobs Panic Sell appeared first on Cryptoknowmics-Crypto News and Media Platform.

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The leading market analysts believe that the long-term holders of Bitcoin are adding the cryptocurrency on dips whereas the people who are beginners are selling the digital assets. The noobs in the crypto industry are selling off their asset and are losing their positions due to the panic situation in the market.

Bitcoin Holders Stacking Up, Tells Market Analysts

Well, the prices of the leading cryptocurrency seem to have stabilized over the past 24 hours as the panic selling has lowered and the noobs appear to have been pushed out of the market.

At the time of writing this article, the price of bitcoin is $45,400, which is up 5% since yesterday, and its low during this period of correction went to as low as $42K on May 17.

In addition to this, it should be noted that the correction has already shed 35% in 35 days which ultimately declared it to be the largest one of the current rally and almost copying a likely correction that occurred during the year 2017.

Using the data from the weekly report of Glassnode, the analysts have confirmed that the recent entries in the market have surrendered at a loss while the long-term holders have continued to make purchases at the dips.

Weak Hands and Noobs Panic Selling 

In response to the tweet shared by the owner of Tesla, Elon Musk, heavy selling was witnessed in the market that ultimately led to the tumbling in the prices of Bitcoin to their lowest levels in 20 weeks.

Glassnode, the on-chain analytics provider mentioned that the total number of addresses holding a non-zero BTC balance has also retreated from its ATH of 38.7 million as over a million traders in the market elucidated their positions. 

Along with this, Glassnode stated:

“A total of 1.1M addresses have spent all coins they held during this correction, again providing evidence that panic selling is currently underway.”

READ  Price of XRP Increases By 17% Bringing Stellar To A New Peak

#Bitcoin #Bitcoin Holders #Market Analysts

Source: https://www.cryptoknowmics.com/news/market-analysts-suggests-bitcoin-holders-are-adding-on-dips-noobs-panic-sell/

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StormGain: Crypto Mining now available on all smartphones

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For many years, cryptocurrency mining has only been reserved to a select few – those people with enough time and capital willing to invest resources into setting up their own mining rigs. However, cloud mining has been quickly gaining speed, and StormGain’s solution removes the technical barriers from the equation in hopes of creating a more even playing field. 

Since miners need to keep several factors in mind, including electricity costs, upkeep and maintenance, and the overall investment return, mining has become less lucrative for the smaller players. StormGain wants to change this narrative, and give everyone the chance to participate in the verification of cryptocurrency transactions, earning a nice income whilst doing so. 

Cloud mining is a prevalent trend in the cryptocurrency industry today. However, many providers claim to offer significant yields and fail to deliver on those promises. StormGain is a different breed, as it provides a mobile-based cloud mining solution. Every user can mine cryptocurrency directly from their mobile phone without dealing with the hardware side of things. Mobile app users connect directly to remote cloud servers, allowing StormGain to provide a risk-free and convenient mining solution, incomparable to those offered by other cloud mining service providers. 

The first step is to register at the StormGain platform using a smartphone – or desktop computer for those who prefer that option. StormGain purposely opts for a pain-free registration process to get as many people acquainted with cloud mining as possible. The registration process also involves a lucrative bonus of $5 USDT, delivered directly to users’ mining accounts. The process is simple – upon registering, use the promo code MINER to receive the bonus. After confirming the account, users can begin mining Bitcoin right away by connecting to the cloud mining server, with no impact whatsoever on the smartphone’s performance. 

After meeting the minimal $10 USDT profit threshold, users are free to trade and exchange their crypto assets with StormGain. Withdrawal of mined currency is not possible without going through the trading process first, but all profit generated via trading can be transferred out of one’s account at any given time – a fair trade-off.

The trading and exchanging via StormGain is available at 0% commission, with users benefiting from all standard and advanced instruments at their disposal. The service also introduces fiat-based cryptocurrency purchasing for those who want to expand their crypto portfolio quickly and effortlessly. 

StromGain has contracted incredible partnerships since its inception, making it the 1# interest rate provider for crypto traders by CoinMarketCap, a member of the well-known Blockchain Association within the Financial Commission, but also an S.S. Lazio official trading partner, and the market’s best cryptocurrency trading & exchange platform, according to The European. To date, StormGain’s trading product notes a 30-day volume of over $6 billion, generated by tens of thousands of traders worldwide. 

What sets StormGain apart from other cloud mining providers is how mining rewards are proportional to trading volume. Users with a higher trading volume will earn a higher daily mining income. Mining with StormGain over more extended periods can have a significant impact on one’s profit potential, showcasing huge capital inflows for the most active miners and traders.  

Cloud mining rewards are distributed every 30-40 minutes. Then, users are free to withdraw the funds to their trading accounts, within less than 72 hours. For newcomers, the first mined Bitcoin rewards will become accessible within 4 hours, a feat that is available nowhere else within the cloud mining industry. 

About StormGain

As part of its services, StormGain’s cloud mining service effectively removes all entry barriers to the mining market. Consequently, there’s no longer a need to invest in expensive mining chips that take up space, make noise, and consume electricity. Contract prices are inherently small so ongoing investments can translate to significant profits over the long term. Since the bitcoin mining service is readily available via the cloud, accessing it via desktop and mobile devices couldn’t be easier, with no hardware and time investments involved. 

Disclaimer: This is a paid post and should not be treated as news/advice.


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Source: https://ambcrypto.com/stormgain-crypto-mining-now-available-on-all-smartphones

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