Bitcoin Price Prediction – May 15

According to the daily chart, the Bitcoin price loses traction after hitting $50,730; losses likely to continue in the near term.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $55,000, $57,000, $59,000

Support Levels: $42,000, $40,000, $38,000

Looking at the daily chart, it can be easily seen that the market is back in the red zone as BTC/USD is posting losses of 5.27% on the day after touching the $50,730. It has an intraday high close to $51,000; although the world’s largest crypto faces a serious downtrend as it is currently trading at $47,265.19.

Bitcoin Price Prediction: BTC/USD May Return to Red Zone

Bitcoin price just plunged below $48,000 one more time, marking $47,250 as the current daily low at the moment. Does this mean that Bitcoin (BTC) is finally leaving the significant $48,000 level and searching for a new low? Nevertheless, looking at the declining daily volume candle, together with the steady movement below the 8-day and 21-day moving averages; it can be assumed that a serious bearish movement may be coming up soon into the market.

Moreover, at the time of writing, BTC/USD is struggling to maintain the $50,000 level and if the Bitcoin price follows the downward trend as the Relative Strength Index (14) moves into the oversold region, the next supports may likely come at $42,000, $40,000, and $38,000. From the upside, by maintaining the current level of $47,265 and any bullish movement could go above the 9-day and 21-day moving averages and send the price to the resistance levels of $55,000, $57,000, and $59,000 which could be well above the channel.

BTC/USD Medium-Term Trend: Bearish (4H Chart)

On the 4-Hour chart, BTC price hovers below the 9-day and 21-day moving averages around $48,446 which may take time to persistently trade above $50,000. In addition, if the bulls gather enough strength and regroup, the upward movement may be able to near the resistance level of $52,000 and above.

However, on the downside, immediate support is around the $47,500 level while the main support is at the $47,000 level. The price may likely fall below $46,000 if the bears step back into the market, a further movement could reach the critical support at $45,000 and below. Technically, BTC/USD is still moving in sideways while the Relative Strength Index (14) moves around 35-level, indicating an indecisive market movement.

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Source: https://insidebitcoins.com/news/bitcoin-price-prediction-btc-usd-nosedives-toward-45500

In the cryptocurrency space, it is usually considerably easier to focus on the negative than it is to look at the positive. As of late, Dogecoin is enduring some heavy suffering, with the fourth largest cryptocurrency by market cap falling as much as 20 percent in recent days, so for the most part, we are likely to see a lot of news coverage about this drop.

Dogecoin Is Still a Beloved Asset

However, despite this little setback, there is nothing to suggest that the currency has lost its appeal. The asset has reached a heavy pinnacle in a rather short amount of time, and the currency is doing better than it ever has largely because it has gotten heavy attention from the likes of Elon Musk and several other mainstream investors and businessmen, and the asset is almost as popular as BTC in many ways.

Billy Markus – the software engineer that helped establish the asset – acknowledges that this kind of attention is rather solid for Dogecoin, though he is confident that this is not the only reason behind its recent success. He says that the community surrounding Dogecoin has also contributed greatly to its growing status. In a recent interview, he comments:

The crypto community can be pretty elitist and not very inclusive, and we wanted to make a community that was more fun, lighthearted and inclusive. It worked, and that is why the Dogecoin community consistently maintains a presence.

He further added:

It is definitely absurd, but there is something pure about it, too.

The popular cryptocurrency was started in the year 2013 as a joke and was never meant to be taken seriously. Largely considered a “meme coin,” the currency took about two hours to create according to Markus, who was primarily looking to develop something that would make fun of cryptocurrency.

Often recognized for the cute little Shiba Inu dog that serves as its mascot, Dogecoin – Markus explains – has also become a big hit with people over the last year because of the growing coronavirus pandemic, which has caused heavy lockdowns and prevented many people from leaving their homes and living normal lives. He says that many people have been stuck sitting around watching their money remain stagnant, and Dogecoin trading has given them something to look forward to.

He states:

People have been suffering, stuck in their homes and struggling, seeing their dollar not go as far as it has previously.

It’s Brought Attention to the Market

Mike Bucella – a general partner at crypto investment firm Block Tower – says that where Dogecoin has really succeeded is in driving more attention to the crypto space. He claims:

Very few things have done as much to bring eyeballs and people into crypto. That is a crazy thing to say, but Dogecoin specifically has brought in the retail masses.

Tags: Billy Markus, dogecoin, Elon Musk Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.livebitcoinnews.com/dogecoin-has-fallen-but-people-still-love-it/

One of the biggest names – and the pioneer — in the fast-growing decentralized finance ecosystem, Pollen leads the pack for investors who are seeking to maximize their digital portfolio and more.

A Decentralized Autonomous Organization (DAO), Pollen allows investors to “customize” their asset management preferences without the need to comply with a centralized decision-making process, giving them greater flexibility and authority.

Pollen is on a campaign to “rethink” asset management, reduce market risk, and create safety nets for market uncertainty. Its platform allows others to select, maintain and organize custom asset pools that are dynamically rebalanced and can be customized for a specific use.

Unlike in a centralized management system, where clients have limited options and control on how to manage their assets, Pollen’s decentralized system provides more choices and authority.

DeFi for the people

With Pollen, participants collectively have better control over their digital asset pools, either directly or by entrusting their voting authority. The DAO platform’s community-governed protocol gets rid of centralization points and enhances portfolio performance while generating a new yield-bearing asset class.

Pollen was created in the belief that portfolio management is better maintained by members who have a significant stake in the business, where decisions are clear and straightforward, and where all stakeholders have sovereignty and supervision.

Pollen’s platform is specifically conceptualized to maintain its decentralized appeal by setting in place reputation-based governance and incentivized liquidity infrastructure.

Its platform’s capabilities allow people to deploy a custom governance model that enables others to launch their own asset indexes. Custom asset indexes can be deployed for specific use cases like Synthetics or NFT Indexes.

Pollen has an impressive track record in DeFi and blockchain. It is DeFi by the people and for the people.

Image courtesy of Pollen DAO/YouTube Screenshot

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinerx.com/blockchain/pollen-simplifying-decentralized-finance-and-asset-management/