The year 2021 is what people call the “Bitcoin Year“, and the reason is self-explanatory. This recent bull-run has brought to the crypto community not only vendors but also institutions and big businesses.
Elon Musk invested $1.5 billion in Bitcoin, and in less than a month, he got a $1 billion profit. Therefore, the news spread quickly. A huge wave of people joined the crypto hype, bringing Bitcoin to a market cap of $1.7 trillion.
But what if I told you that Bitcoin is not your ticket to a life without financial worries?
Who says that? A person who caught my attention a few months ago and who continues to surprise me with every new video posted on his YouTube channel – Ken. Ken the Crypto.
Who is Ken?
Ken is a crypto enthusiast passionate about investments, who owns the YouTube channel I’ve bumped into three months ago – “Ken the Crypto”. And let me tell you, it’s one of the best crypto channels I’ve come across.
What I like about him regarding his channel is his casualty when he explains some of the strategies.
He is very transparent and sincere, never claiming that he is an expert. His reviews are based on his own experience, and he is happy to share it with other people – however, he doesn’t describe himself as a financial advisor.
He risks; that’s what defines him. He may succeed, he may lose, but he experiments – finding new gems and new strategies.
Another thing that I consider very ingenious about him is that he doesn’t work with Bitcoin but with Altcoins. Especially those with a small market cap. And he gives an excellent explanation for this.
You buy them at a really low price and their value doubles by the day. It’s a quick and easy way to earn additional money. And if you want to have great results, then don’t be afraid to buy as much as you can.
Ken’s investments are mid-high risks, with at least $10,000 up to $50,000 per project. The positive changes in the value of altcoins make profits up to 10 times the investments, which is a lot.
And people’s comments prove how many lives became better with his channel’s help, from those of prudent people to riskier ones. For example, a fan invested $600 and came out with $6,000. Another one invested $33,000 and led to $100,000 in less than a month.
The more you invest, the greater is the result. If an altcoin doubles in value and you invested just a dollar, you wouldn’t earn much. But imagine if you invested a hundred dollars, or even a thousand.
How is his Youtube channel different than the other ones?
Besides his experiment results, the channel stands out with Ken’s dedication and attitude towards his viewers.
First of all, he never says “do what I do and success will be guaranteed”. Quite the opposite. Those strategies worked for him, but that doesn’t mean it will work for you 100%. He encourages his viewers to do their own research before jumping to his strategies.
At the same time, he gives plenty of information we can use in our investments, from trades to lists and even resources.
Second of all, his channel has very interesting videos, which talk about particular subjects that Big YouTubers and news articles don’t really cover – like how to prepare for a crypto crash or the reasons you don’t make profits with some altcoins.
He also presents market changes that substantially influence altcoin’s values. For example, he noticed that the FOMO phenomenon is bigger than ever among most crypto users and that some exchange fees became way too pricey.
And sincerely, I would never forget how he opened my eyes regarding Ethereum investments – which are a waste of time and money. The real altcoin gems are found on the Binance smart chain and Avalanche network.
Why do I trust Ken’s expertise?
I don’t know about you, but I appreciate the passion he puts into his work. The videos on his channel are very well documented, with qualitative information and sustainable decisions.
He doesn’t try his luck with his investments, even if he loves to take risks. All of his choices are based on comprehensive research, and even more, he uses various software and tools to validate his research – like auto-farm or the Bitcoin Rainbow chart.
Plus, he proved his potential from the beginning. He started all this adventure in April 2017 when he was in college. He invested $20 in ETH, and he arrived at a profit of almost $2,000 at the end of the summer. Until the end of December, the same year, his profit went to $30,000, and less than a month later, he hit $100,000.
This encouraged him to drop out of college and dedicate his time to crypto and YouTube, helping others fight debt and other financial issues. His most successful project brought him $150,000 out of $15,000 in just a single month.
He risked everything to dedicate to his passion, and I am glad I discovered him. I personally think he is extremely underrated, considering his work and the quality of it.
Any advice for the 2021 Bull Run?
He couldn’t miss such a thing. Ken recently posted a video about it, which completely changes the way we look at crypto investments. In the video, he tells us everything we need to know to reach profits of no less than 100 times our investment.
That’s right! And I am thrilled to try his new strategy, let alone excited to tell you as well.
If you also want to substantially increase your income, check out Ken’s Youtube channel and let me know how these strategies work with your own portfolio!
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$420M in leveraged long traders liquidated after XRP rallies to $1.96
XRP holders couldn’t have asked for a better year as the cryptocurrency rallied almost 800% and flirted with a $2 level in the early hours of April 14.
In addition to achieving its highest level since January 2018, this robust price increase signals that investors are not worried about the ongoing SEC “unregistered securities offering” dispute.
However, just 6 hours after rallying to $1.96, XRP price crashed by more than 20%. During an interview, DCG Group CEO Barry Silbert said it would be risky for exchanges and companies in the United States to relist XRP ahead of receiving the SEC’s blessing. These remarks may have contributed to the unprecedented $420 million long liquidations on derivatives exchanges today.
Over the past couple of weeks, the primary catalysts for XRP’s rally have been victories in Ripple’s legal battles. Lawyers representing Ripple were granted access to internal SEC discussions regarding cryptocurrencies, and more recently, a court denied the disclosure of two Ripple executives’ financial records, including CEO Brad Garlinghouse.
Considering the recent rally, pinpointing a single reason for the price correction will likely be inaccurate. Nevertheless, the impressive $420 million long liquidations past 24-hours exceed those of Feb. 1 when XRP price crashed by 46% in two hours.
The only logical reason behind this staggering liquidation is excessive leverage used by buyers. To confirm such a thesis, one must analyze the perpetual contracts funding rate. To balance their risks, exchanges will charge either longs or shorts depending on how much leverage each side is demanding.
The chart above shows that the 8-hour funding rate is surpassing 0.25%, which is equivalent to 5.4% per week. Although this is excessive, buyers will withstand these fees during strong price rallies. For example, the current upward price move lasted for almost three weeks, and prior to that another took place in early February.
Blaming the liquidations exclusively on leverage seems a bit extreme, although it certainly played its part in amplifying today’s correction.
Moreover, the record growth in XRP futures open interest was accompanied by a hike in the volume at spot exchanges. As a result, the eventual impact from more significant liquidations should have been absorbed by the increased liquidity.
Cascading liquidations will always take place in volatile markets. Thus investors should focus on how long it takes until the price recovers from it.
Fundamentally, a 10% or 20% intraday drop should not be interpreted differently. The correction depends on how many bids were previously stacked at exchange orderbooks and is not directly related to investors’ bullish or bearish sentiment.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Garry Tan’s 2013 investment of $300K in Coinbase is now worth $2.4B
Garry Tan, a prominent angel investor and the founder of Initialized Capital, was one of the first investors to provide seed funding to Coinbase eight years ago.
Less than a decade later, and after today’s highly anticipated Nasdaq listing for Coinbase’s COIN stock, Tan’s 2013 investment of $300,000 into Coinbase is now worth $2.4 billion.
Coinbase debuted on the Nasdaq on April 14 at $381 per share, making it one of the most hyped listings in the U.S. stock market of the year.
How did $300,000 become $2.4 billion?
In 2013, when Tan invested in Coinbase, it was unclear whether Bitcoin would be recognized as a global asset and an established store of value.
At the time, there were not many reputable exchanges, and the few that existed were often hacked. Tan’s investment took place before the monumental Mt. Gox hack that saw billions of dollars worth of BTC stolen.
Even after launch, Coinbase was not always in an uptrend. According to Coinbase co-founder Fred Ehrsam, from 2014 to 2017 the company faced numerous hardships.
“Over time, crypto grew, and so did the company. A simple #Bitcoin wallet evolved into individual and institutional products to support a blossoming cryptoeconomy. 2 nerds who met on the internet (yes, @brian_armstrong and I met on @reddit ) turned into a company of 1000+. There was serious hardship. In the 3 years between 2014 and 2017, the outside world thought crypto was dead. Over a third of employees left. Yet crypto kept building. @ethereum came on the scene and showed that crypto native applications were possible, opening up a whole new world of possibilities.”
Even if the listing fails to impress, Coinbase has alluring financials
Coinbase is the first publicly listed major cryptocurrency exchange in the U.S. stock market and its availability on Nasdaq now provides mainstream investors with exposure to the crypto sector. Even if the listing fails to impress on day one, the company still has strong financials and user metrics.
1) Today, an exchange will list an exchange.
One of them:
–lists innovative assets
–allows users to onboard
–has a mobile app, website, and API
–made $1b last quarter
The other one is NASDAQ.
— SBF (@SBF_Alameda) April 14, 2021
Coinbase made $1 billion in the last quarter and has more users than every financial institution in the U.S. apart from JPMorgan, making it a highly compelling trade for investors in the traditional financial market.
German software developer donated $1.2M in ‘undeserved’ Bitcoin to political party
A German national who reportedly sees his Bitcoin profits as “undeserved wealth” has donated more than $1 million to the country’s green political party.
According to Hamburg-based news outlet Die Zeit, Moritz Schmidt, a software developer from the northeastern town of Greifswald, has sent one million euro — roughly $1.2 million — to Germany’s green party, known as The Greens or Alliance 90. A party spokesperson said Schmidt had made significant gains during the Bitcoin (BTC) bull run but wanted to contribute to causes related to environmental and climate protection rather than HODLing his crypto.
“The donor has made it clear to us that he sees these profits as undeserved wealth that he does not claim for himself, but wants to use socially, for something that corresponds to his convictions,” said the Greens spokesperson. “In the meantime he sees the Bitcoin system critically, among other things against the background that the necessary arithmetic operations consume huge amounts of electricity.”
Records for the Greens show that Schmidt’s donation is the biggest the party has received this year, with the next highest contribution at 500,000 euro, or roughly $600,000. The funds will reportedly be used for the party’s federal election campaign and the state election campaigns in 2021.
The software developer is not alone in seemingly hoping the crypto industry will become greener. Many have criticized Bitcoin mining for its impact on the environment, with some estimates indicating the network consumes more energy than the entire country of Argentina. However, Mike Colyer, CEO of crypto mining firm Foundry Digital, said this week that he believes mining Bitcoin could eventually help the transition to a “world where 100% of our energy is produced from renewables.”
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