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Retail Bitcoin Holders with Balance 0.01-0.1 BTC Reaches New High

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Retail Bitcoin investors seem to be making the most of the buying opportunity that the recent dip has brought, as the number of wallets holding a balance of 0.01 – 0.1 BTC has reached a new all-time high.

Source: Glassnode

Bitcoin price registered its biggest correction this bull season with a price retraction of 50% from the top during last month’s market sell-off. The sell-off became a perfect opportunity for new entrants to foray into the crypto market and the growing number of addresses of retail investors suggest that retail investors are not selling their Bitcoin yet.

The top cryptocurrency more than tripled its 2017 high of near $20,000 over the past 6 months, rising from just above $12k towards the end of November and reached a new ATH of $64,686. Last month’s market correction wiped off more than $500 billion from the crypto market amid panic selling and over-leveraged trading.

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Bitcoin whales are accumulating Bitcoin again

Bitcoin price is currently trading above $36K trying to get past the key resistance of $40K before its path to recovery and further move up. Bitcoin whales have started accumulating again indicating a bullish signal as whales often tend to influence the market with their large holdings. One particular whale caught the attention of many as it dumped a significant portion of its holdings at the near top.

Crypto analysts have suggested that the recent market sell-off wasn’t a price top and such large corrections are part of the bull run as the market can’t keep going up without pullbacks. The top price predictions for this bull market have ranged from $75,000 to $130,000 as the price rise was aided by widespread adoption from retail as well as institutions. Bitcoin is currently forming a triangle on the long-term chart and a move up from here could take it to $40k levels and a downtrend could push it to sub-$20k levels.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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Source: https://coingape.com/retail-bitcoin-holders-with-balance-0-01-0-1-btc-reaches-new-high/

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The World Economic Forum’s Cryptocurrency Guide Lists Its Choice Of “Winning” Projects

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The World Economic Forum (WEF) has published its community paper on cryptocurrency. It contains information on getting started, exploring the blockchain, and so on. It also lists several cryptocurrencies that meet its scalability stamp of approval.

As an influential body, some have taken this to mean the WEF has selected its choice of winning cryptocurrency projects, which, if rumors are to be believed, will receive a significant push over the coming years.

The WEF See Cryptocurrency As Transformational

Various centralized authorities, and their representatives, have sent mixed messages surrounding cryptocurrency and its role in future society.

This includes ECB President Christine Lagarde, who earlier this year blasted Bitcoin’s “funny business” in facilitating money laundering, and U.S Treasury Secretary Janet Yellen, who pointed out Bitcoin’s limitations as a payment mechanism, and much like Lagarde, its use in illicit financing.

“To the extent it is used I fear it’s often for illicit finance. It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.”

Nonetheless, the Swiss-based international organization for public-private cooperation has signaled its approval of cryptocurrency via its latest guide. The 22-page report details practical guidance, for both individuals and corporate professionals, on transacting, dapps, governance systems, scalability, and consideration of regulations.

As cryptocurrencies transform how we trade, transact and interact online, it has become more important than ever for technology leaders to have experience with these innovations.

As expected, the report mentions the big two, Bitcoin and Ethereum, even dedicating an entire section to Ethereum to discuss its programmability and usefulness in facilitating technological innovation.

Along with that, in the throughput and scalability section, the report also lists six cryptocurrency projects with brief text on their ability to handle large volumes of transactions. They are Algorand, Cardano, Celo, XRPL, Solano, and Stellar.

The Great Reset

During covid times, the WEF has caught the attention of many truth seekers. They raise concerns over the WEF’s role in steering the world recovery.

Among the WEF’s predictions by 2030 is “you’ll own nothing. And you’ll be happy.

Some have described this future scenario as a centralized system of control and manipulation. Even a throwback to Medieval feudal society, which consisted of a bottom rung of the peasantry who were slaves to the landowners.

Reuters have fact-checked this “stated goal” and dismissed it because it was a reference to the trend towards the prevalence of renting over ownership.

“False. The World Economic Forum does not have a stated goal to have people ‘own nothing and be happy’ by 2030. Its Agenda 2030 framework outlines an aim to ensure all people have access to ownership and control over land and other forms of property.”

Either way, should investors take the WEF’s mention of Algorand, Cardano, Celo, XRPL, Solano, and Stellar as cryptocurrency projects to watch in the future?

Source: https://bitcoinist.com/the-world-economic-forums-cryptocurrency-guide-lists-its-choice-of-winning-projects/?utm_source=rss&utm_medium=rss&utm_campaign=the-world-economic-forums-cryptocurrency-guide-lists-its-choice-of-winning-projects

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Ethereum, Stellar Lumens, VeChain Price Analysis: 14 June

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Even though Bitcoin climbed back above $39,000 after a jump of 8% in a single day, not all coins witnessed a surge in value. Alts such as Ethereum, Stellar Lumens and VeChain saw limited gains within their down-channel and awaited further cues for a breakout.

Ethereum [ETH]

Source: ETH/USD, TradingView

A look at Ethereum’s 12-chart showed the formation of a down-channel after a break above $2,900 was denied by sellers. On the verge of a breakout from the pattern, ETH bulls tussled with the upper trendline at press time. Interestingly, the upper trendline saw some interplay between 20-SMA (red) and 50-SMA (yellow) and hence, it was an important area to retake. A successful breakout would likely result in a 13% hike back towards its upper ceiling of $2,900.

MACD was close to a bullish crossover as the Fast-moving line caught up to the Signal line. However, RSI maintained below 50 and lower highs indicated weakening. A failed breakout would likely see ETH maintain its downtrend within the channel.

Stellar Lumens [XLM]

Source: XLM/USD, TradingView

Stellar Lumens also attempted a break above its down-channel at the time of writing. A successful breakout would likely trigger a 13% jump towards 23.6% Fibonacci level ($0.388) and 50-SMA (yellow). An extended bullish outcome could even result in an additional 20% rise at the 38.2% level ($0.46) and 200-SMA (green).

Squeeze Momentum Indicator suggested that bearish momentum has declined over the past few days and backed a favorable outcome. However, RSI has remained in bearish territory since 19th May and even pointed south at press time. The index could continue towards the oversold zone before a reversal can be expected. Such an outcome would see XLM maintain within its down channel over the coming days.

VeChain [VET]

Source: VET/USD, TradingView

VeChain was in a similar predicament as its counterparts ETH and XLM. The crypto-asset also traded within a down channel and eyed a break above its upper trendline, an area that clashed with 20-SMA (red) and 50-SMA (yellow). An early breakout would likely boost VET towards its 200-SMA, close to strong resistance line of $0.152. If such an outcome is denied, further dips were possible towards defensive lines of $0.091 or $$0.0825. The presence of a demand zone within this area could cushion an extended sell-off.

VET’s RSI gave was an example of yet another altcoin that switched to a downtrend after a key breakout was denied – in this case – $0.152-resistance. The index could decline towards the oversold zone before shifting gears. Supertrend Indicator still presented a sell signal but interestingly placed a stop-loss at $0.136 and 200-SMA- making this area critical to VET’s success.


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Source: https://ambcrypto.com/ethereum-stellar-lumens-vechain-price-analysis-14-june

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Why this market veteran is a fan of Cardano and Polkadot?

Republished by Plato

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Altcoins, as a whole, have seen an unprecedented amount of development and adoption over the past year. Altcoin market dominance rose from an almost negligible share to above 55% in the present time.

Earlier,  investors who bet on Bitcoin and Ethereum (ETH) in the very early stages have made a significant chunk of profit. However, the prices of these two cryptocurrencies have appreciated. Since their meteoric rise, everyone is on the lookout for the next bitcoin and the next Ethereum.

Well, the good news is there are still cryptocurrencies out there that have great potential, and they have lower price entry points. Cardano‘s native coin ADA and Polkadot (DOT) have seen a good year. Consequently, they are neck and neck in rankings by market cap and both are among the top ten cryptos. While the former ranked 5th and was trading at the $1.45 price level, the latter ranked 9th, trading at $20.48.

The two altcoins also took the lead in total staked value.

Source: Staking rewards

Anthony Di Iorio, a Canadian entrepreneur and also one of the original members who built Ethereum network opined on these two alts in a recent interview with Anthony Pompliano.

The current CEO of Canadian blockchain startup Decentral and crypto wallet Jaxx believed in the coins’ potential to grow further because ‘the projects are managed by goal-oriented individuals.’

He stated:

“Now I’ve kind of fallen back to just simplicity. I’m in a number of different projects, but the majority of my stuff is in the top projects. I’m a big fan of Polkadot, I’m a big fan of Cardano.”

It’s no surprise, having worked with Cardano’s Charles Hoskinson, and Polkadot’s Gavin Wood, that Di Iorio forged strong relationships with these individuals.

“Big fan of Charles, let’s say that. You know, taking some different approaches in the way that they’re doing things, much more on the academic side of what he’s done and bringing stuff forward. Real big fan of Gavin Wood.”

Further adding to his remarks, he said:

“Knowing those guys from the days back at Ethereum – and knowing their drive and knowing their competitiveness and their smarts – I was able to see those projects for the last few years and know that they were gonna get to where they’ve gotten up to.”


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/why-this-market-veteran-is-a-fan-of-cardano-and-polkadot

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