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This analyst discloses his Bitcoin and Ethereum trading strategy

Republished by Plato



One probably hears a lot of cryptocurrency-based forecasts and end results of actively trading or investing strategies from different analysts.  What is clearly evident is that trading volumes have seen a significant increase this year.

Source: CoinMarketCap

What is also prevalent is the bullish sentiment for large-cap and mid-cap alts. Scott Melker, aka ‘The Wolf of All Streets‘ dished out his trading strategies in a recent interview hosted by Business Insider. He even spoke about price targets as well as preferred crypto projects.

Scott Melker had an interesting introduction during his interview; he said, “Anyone who asks me, I say I’m an investor who trades.”

The trader highlighted his techniques. He stated:

“People should have at least 60% to 70% of their assets in long-term investments and 15% in cash and 15% for trading.”

  1. 60-70% share: The aforementioned statement hinted at the importance of a long-term HODLing as compared to a short-term one, mostly BTC and ETH. Melker took advantage of other crypto projects’ profits, with little risk after shorting the gains.
  2. 15% share (trading): Apart from this long-term venture, actively traded the market, Ergo a short-term frame.
  3. Remaining 15% share: Little different, as he held the remainder in crypto stable coins that yielded interest. He termed it the passive income approach. He further reiterated,

“To me, it’s actually the largest innovation probably in the crypto space in the last year to two years”

On the topic of price projections, Melker predicted the two most dominating coins ETH and BTC to strike $10,000 and $235,000, respectively. He added:

“I think ether’s going easily to $10,000 in this cycle, and I think ether could go much higher to be quite honest and I think that bitcoin will go to $200,000, $230,000, $235,000.”

Spencer Noon another analyst had a similar prediction with regard to Ethereum and Bitcoin.

At the end of the interview, when asked about a few promising unfamiliar coins by the interviewer, he expressed his optimism towards- LINK, DOT, EGLD, UTK, and POLS, “All of which have seen triple percentage gains,” he added.

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Maiar, The Money App Powered By The Elrond Blockchain, Adds Bitcoin

Republished by Plato



[PRESS RELEASE – Valletta, Malta, 17th June 2021]

Elrond Network, the developers of the eponymous internet-scale blockchain protocol, today announced the full integration of Bitcoin into their non-custodial digital wallet app Maiar.

With deep care for the user, elegant design, and an intuitive interface, Maiar enables any phone user to get a working non-custodial blockchain wallet in seconds.

Its intuitive simplicity allows everyone to store, earn, and pay using cryptocurrencies using @herotags – unique usernames that obviate the need to use complex address strings 1HLoD9E4SDFFPDiYfNYnkBLQ85Y51J3Zb1 and instead use something like @satoshi.

“Bitcoin has carved a path for highly secure cryptocurrencies with strong store of value properties to become accepted in traditional finance, irrevocably establishing the digital asset class. Its addition to Maiar will accelerate the adoption of our money app and the underlying Elrond blockchain infrastructure.” said Beniamin Mincu, Elrond Network CEO.

Existing Maiar users will have the pleasure of discovering that they have always had a Bitcoin address attached to their @herotag. It has been part of the onboarding process, when a newly created Elrond Network smart account gets a @herotag, an eGold address, and BTC, ETH, and BNB addresses as well.

The Bitcoin integration is the latest evolution of the money app Maiar, whose rapid global adoption has accelerated beyond the 400,000 user mark in just 4 months since debuting in the top app marketplaces globally. It is available on iOS and Android phones, in 6 languages including English, Spanish, French, German, Romanian, and Indonesian.

About Elrond

Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.


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What is Phemex’s all-new Learn and Earn program?





A decade ago, Bitcoin was merely a philosophical research paper for a new type of digital currency. Today, there is no major technology or financial publication or news portal with no cryptocurrency stories or blockchain news. 

From being ridiculed as magic internet money backed by thin air to narratives of the wild west, nerdy money, get-rich-quick schemes, and gaining mainstream consciousness as we settle into 2021, the crypto industry has indeed seen it all. 

Since Bitcoin’s inception over ten years ago, things have changed considerably. Industries across the world have embraced its underlying blockchain technology. Its main characteristics include decentralization, transparency, immutability, and automation that has the potential to create a multitude of use cases and replace legacy frameworks.

The digital asset industry has not been that lucky. The narrative of “Blockchain, not Bitcoin,” is still very much prevalent in several regions. Countries struggling with political instability and hyperinflation, such as Venezuela, and Argentina have witnessed a formidable interest in cryptocurrencies. The sentiment resembled the nations that have a massive unbanked local population. 

Today, the great dream of cryptocurrency is still very much alive despite all its struggles. The cryptocurrency industry has not only unlocked access to financial services for users around the globe it has also opened avenues for new applications. The remittance, for one, can be a nightmare for many living in developing countries. Crypto and blockchain technology aims to settle transactions instantly with significantly lower or even negligible fees. 

The main objective behind asset-backed tokens, on the other hand, is to grant ownership to assets like real estate and precious metals. In addition, stablecoins have their own use cases and have seen unprecedented growth because they trade uniformly with fiat. The list does not end there. 

While pessimism has dwindled, there is still plenty of skepticism around the entire asset class. 

What’s impeding crypto adoption?

There are numerous reasons for the hindrance. But one that stands out is the lack of education. It is a daunting issue that plagues the cryptocurrency industry even today, in this day and age when everything is just one click away. Many people don’t understand the industry. It is as simple as that. 

The digital asset realm is a complex one. While there are plenty of resources to fall back on, there need to be better and more accessible vehicles, one that is perfectly curated for the newbies – simple and easy-to-follow lessons on everything crypto and blockchain. And what’s better than earning a reward for learning this groundbreaking technology? Seems far-fetched? Not anymore. Pemex’s newly launched program dubbed ‘Learn and Earn’ aims to do just that.

Singapore-based cryptocurrency exchange Phemex is one of the most prominent platforms in the world. Just two years since it was first launched, Phemex has already emerged as one of the most trustworthy exchanges in the industry. Its user base exploded quickly to over a million traders, thanks to user-friendly platforms and unique offerings. 

It has recently rolled out an all-new educational program called “Learn and Earn,” which aims to provide users with simplified concepts on different cryptocurrency and blockchain-related concepts. This program includes an in-depth course structure coupled with intuitive lessons and interactive videos that offer a unique and fun learning process. But it does not end there. 

Phemex plans to reward its users via Learn and Earn after the completion of each lesson. How? Users will have to take a short quiz to test their knowledge, and if all the answers are correct, they will be incentivized. 

It is one of the most beginner-friendly and fun ways to learn more about the new financial world. Learn and Earn is put together into a few fundamental courses, each comprising its own set of sub-lessons. These cover introductory passages, explainer videos, and a final quiz for users to test their knowledge. Upon answering all questions correctly, Phemex offers a reward in the form of trading bonuses and cryptocurrencies. 

Lean and Earn’s first set of courses proceed with the platform’s essential features. This program encompasses some core concepts about the workings of cryptocurrencies and the process of buying, trading, and selling them on an exchange. Rewards will be in the form of trading bonuses that participants can use with perpetual contracts on Phemex to exercise their proficiency on the subject matter. 

In the days to come, Phemex also plans to broaden its course material and reward users directly in cryptocurrency assets. However, in order to receive rewards, the users are required to complete KYC protocols. As of now, the program is not widely available, but the team behind the project is working on expanding the Lean and Earn initiative on a global scale.

In short, Learn And Earn aims to cater to mainly the beginner but is also available for experienced crypto enthusiasts who seek to know more about the industry and how to trade digital assets seamlessly. This program is essentially for everyone who wants clarity and eventually wants to foray into the trading space of cryptocurrencies but does not know where to begin. It is open to anyone who wants to build a passive income stream by just learning about cryptocurrencies.

Incentivising users for learning about the technology, what a great way to spur adoption as well as trading activity! This will help more and more individuals dispel myths and filter out FUDs and FOMOs that are often endorsed by the critics and the flag bearers of centralized financial infrastructure.  

For the first course, there will be three lessons – each worth $2. So if you complete the first course you’ll get a total of $6. You can find more information on Phemex and their Twitter page.


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What is ‘bitcoin business driving’, for MicroStrategy

Republished by Plato



The Bitcoin community has been in a feud with the centralized authorities for a very long time mainly because of the increasing restrictions and scrutiny the sector has faced. A majority of the proponents in the crypto ecosystem express a profound unease about central banks; many have equated cash to ‘trash’ and a ‘melting ice cube,’ while Bitcoin, on the other hand, is touted as “digital gold.”

Consider this industry leader, Michael Saylor, who’s been backing Bitcoin irrespective of the skepticism around it. As per Bitcoin Treasuries, the publicly traded enterprise software firm MicroStrategy made three massive purchases in less than a year. At the time of writing, the firm holds approximately 91,326 Bitcoin. According to US Securities and Exchange Commission (SEC) filing, the said firm plans to sell class A common stock, worth $1 billion to buy more of the world’s largest cryptocurrency.

CEO of Microstrategy Michael Saylor, recently appeared in a CNBC interview to provide his take on why Bitcoin was better than Gold.

Can Bitcoin outperform the precious metal? Well, Saylor reaffirmed his stance in the Bitcoin vs Gold debate. While speaking at CNBC’s Fast Money, he opined:

“I think in the past 12 months, we have all been waiting for inflation, and I think we are seeing it now. I think investors are seeing that bitcoin is up by 330% and gold is up 7% in that period. So, bitcoin is outperforming gold as an inflation hedge by a factor of 50.”

When Saylor was asked whether Microstrategy’s investors were ok with the firm doubling down on BTC, he added:

“It’s actually an ideal situation, because our stock was trading about $120 a share with $60 a share in cash. Our investors told us that cash was trash, it was a liability on our balance sheet. If we had given it all back, we would be trading at $60 a share… The core of the business is up 10%, the bitcoin business is driving shareholder returns

Ecoinometrics’ illustration in its latest newsletter incorporates inflation as a parameter to provide data on the yield for gold vs Bitcoin.

Inflation- Gold and real yield

Source: Ecoinometrics

Inflation- Bitcoin and real yield

Source: Ecoinometrics

Bitcoin’s impressive surge as compared to Gold is one of the many reasons for its increasing institutional and retail investors. A recent addition, billionaire Paul Tudor Jones admitted his affection towards ‘Bitcoin as a portfolio diversifier’ and aims to double or triple his allocation into BTC.

Having said that, the following statement did come as a surprise to Saylor. He stated:

“I’m surprised they are not increasing their allocation by a factor of 10 because Bitcoin is 50 times better (than Gold).”

Although volatility has been an issue, Microstrategy investors and shareholders remain Bitcoin supporters for a long period as evident from their bitcoin holding activities.

Saylor, a vocal Bitcoin enthusiast, also shared his point of view on Ethereum. He said:

“ETH is a digital application that is looking to dematerialize the JPMorgan building, the banking establishments, and all of the exchanges.”

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