Day: April 19, 2023

AltSignals Has Investors Excited About The Prospect Of Crypto Gains In 2023. Will The New ASI Token Take Off?

With AltSignals’ ASI presale gaining traction, many investors are excited about its potential to offer them substantial crypto gains in 2023 – in more ways than one. In this article, you’ll find out why AltSignals has garnered so much hype in recent weeks and how its ASI token could change the game for investors and traders across the globe.

AltSignals: Generating Crypto Gains Since 2017

Created in 2017, AltSignals has grown to become one of the market’s leaders for trading signals, boasting over 50,000 subscribers to its free signals and 1,400+ members in its VIP group. While there are many signal providers out there, AltSignals has set itself apart from the crowd by focusing on producing high-quality, accurate trading signals in the crypto, forex, and stock markets with its AltAlgo™ algorithm.

AltSignals has used this market-beating system alongside a team of veteran traders to generate over 1,500 signals for traders across the globe. In January 2023, it achieved a 94% win rate across 17 trades as part of its Binance Spot signals program, returning 175% in a single month. The month previous, it produced 384%. These results, while extraordinary, are a regular occurrence for AltSignals. 

AltSignals’ stellar performance is backed up by its TrustPilot page, which features almost 500 positive reviews and an average 4.9/5 star rating. However, a recent announcement by AltSignals has investors excited about the prospect of making even more crypto gains: the ActualizeAI layer and the ASI token.

What Is the ASI Token?

The ASI token will be the backbone of AltSignals’ ActualizeAI ecosystem. ActualizeAI will introduce a unique AI stack to the AltAlgo™ indicator, enabling it to level up through machine learning, natural language processing, reinforcement learning, and more. This will, in theory, increase the number and accuracy of the platform’s signals, providing even more opportunities for traders to make some sweet crypto gains. 

The ASI token itself is necessary to gain exclusive access to the ActualizeAI algorithm. By holding over 50,000 ASI tokens, investors will be granted lifetime membership to the algorithm’s signals. Investors holding less than 50,000 tokens will be provided with a 1-year membership. But owning ASI doesn’t just offer access to premium trading signals: it opens up an ecosystem of opportunity for traders and investors. 

For example, holders will be the first to know about the very best presale opportunities – either projects that have partnered with AltSignals, or bubbling presales highlighted by the algorithm’s sentiment analysis feature. Moreover, traders can boost their crypto gains through regularly held trading tournaments for the chance to win significant prizes!

One standout feature that has investors excited is the AI Members Club. Here, members will be able to earn ASI as a reward for contributing feedback and testing the latest updates made to the ActualizeAI algorithm. These tokens can then be accumulated to boost their membership level and open up more advanced ecosystem features, held, or sold for some crypto gains. 

Lastly, the ASI token will be used as the platform’s governance token, allowing the future of AltSignals and ActualizeAI to be determined by the traders actually using the service. ASI holders will be able to vote on and propose changes made to the platform, giving them a chance to direct the project and maximize their utility. 

What Could ASI Be Worth by the End of 2023?

With a proven track record and a well-thought-out plan to supercharge its platform, many analysts are expecting good things from AltSignals in 2023. The ASI token will finish presale at $0.02274 per token, but predictions have been made for it to reach as high as $0.35 by the end of 2023 – potentially offering over 1,400% gains in under a year.

Expect Big Things From the ASI Presale

Overall, it’s easy to see why AltSignals has investors excited. The ActualizeAI algorithm could put AltSignals on the map as one of the most advanced signal providers on the market and lead to a flurry of signups as traders rush to get their hands on its calls. Meanwhile, the community-led governance and feedback system means the product will be vetted by real traders, helping AltSignals to optimize its service and algorithm. 

The projected ASI crypto gains could even be compounded if you act fast. Currently, ASI is in the first stage of the presale, selling for $0.015 per token. That means you could almost double your potential long-term returns on ASI just by being one of its early adopters. Don’t miss out on this once-in-a-lifetime opportunity to join the AltSignals AI revolution!

You can participate in the AltSignals presale here.

The post AltSignals Has Investors Excited About The Prospect Of Crypto Gains In 2023. Will The New ASI Token Take Off? appeared first on CoinJournal.

Interactive Brokers’ chairman on bitcoin: ‘it’s worth nothing but I own some’

Thomas Peterffy owns bitcoin for an unusual reason.
He says crypto activity at IBKR has been very slow.
BTC is trading well below the $30,000 level today.

Interactive Brokers – a financial services company that enables 24/7 trading of bitcoin reported weaker-than-expected earnings for its first financial quarter this week.

Chairman Peterffy’s view on BTC

On Wednesday, discussing the earnings report with CNBC’s Andrew Ross Sorkin, the firm’s chairman said he owned bitcoin albeit for an unusual reason.

As far as I’m concerned, it’s worth nothing. But I own some even though I believe it’s worth nothing because other people believe that it’s worth something.

Thomas Peterffy also revealed that he did not have a view on where the bitcoin price may be headed from here.

The world’s largest cryptocurrency is trading well under the $30,000 level today perhaps as investors moved to capitalise on its massive run to the upside in recent months.

Crypto trading has been slow at IBKR

Interactive Brokers recorded a 21% annualised increase in customer accounts in its recently concluded quarter to 2.20 million.

Revealing how crypto contributed to the platform’s financial performance in Q1, Chairman Thomas Peterffy said on CNBC’s “Squawk Box”:

Crypto activity on our platform is very slow. We don’t custody crypto – that may be a reason. But generally, crypto trading is much reduced from where it used to be a year or two ago.

He doesn’t have a bullish view on the equities market either and said the S&P 500 should be trading about 20% lower than where it is now.

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Corite to host British rapper Central Cee’s hits NFTs sale

Corite is a Web3 engagement platform designed to help artists raise funds.
Corite has raised over $1 million for its artists through Fan Campaigns so far.
It currently has over 100,000 users.

Corite, the Swedish music-tech startup, will host a sale of NFTs that let fans get a share of British rapper Central Cee’s hits. The seller is top producer Young Chencs and the sale will include hits such as 6-For-6 and Little Bit of This.

The sale will be done using NFTs, and a presale will be offered for the most loyal and active fans on April 26. Through exclusive “Missions,” Fans will be able to earn Fan Power and exchange the accumulated Fan Power for access to the presale. 

What is Corite?

Corite is a Web3 fan engagement platform that allows artists, both new and established, to raise funds for their music releases solely through the help of their fans. Corite assists artists with promotion, community building, and music distribution without taking their IP rights or the lion’s share of their revenue. 

The project is well-known for its collaborations with world-renowned DJ Alan Walker, Beyoncé and Usher producer Rico Love, and Disney star Emery Kelly. 

Corite’s CO Blockchain platform

Corite’s CO Blockchain platform already has over 100,000 users. Absolutely any artist can fill out the application on Corite’s website and get a chance to get initial funding and marketing support from Corite, as well as help with further Mission creation.

A Mission is a task that an artist or Corite wants to reward for its value or its creativity. It could be making sure that more people hear a new song, designing an artist’s logo, or making a TikTok dance. The sky’s the limit, and it will vary from artist to artist and from time to time.

That’s what Young Chencs, the creative force behind the Central Cee tracks in the collection, and Emelie Olsson, a female entrepreneur, Forbes 30 under 30 honoree, and COO and co-founder of Corite, said about this mutual initiative. 

Young Chencs says:

“Giving the listeners an opportunity to put their money into music is a game-changing thing for me. It can be hard to make a living as an artist, so this is a great opportunity for artists and producers.” 

The post Corite to host British rapper Central Cee’s hits NFTs sale appeared first on CoinJournal.

Polkadot Price Predictions Set To Soar as AltSignals’ ASI Token Hits the Market. Will The New Crypto Asset Beat Polkadot?

Early 2023 has seen a long-term trend reversal in the crypto markets, as Bitcoin has started to reclaim previous price levels, and many altcoins have reached new highs. The Polkadot price prediction remains bullish over the coming years, while AltSignals (ASI), a new crypto asset launched during this period, has been attracting significant investment already.

Early-stage crypto ASI is now expected to outperform Polkadot

Despite being a new crypto asset within Web3, AltSignals has already begun attracting significant investment levels. The ASI token presale has raised $112kin just 1 day since the event started, a strong signal of intent from the new platform.

In contrast, the Polkadot price prediction looks ready for a reversal after significant upward momentum at the beginning of 2023. The DOT token almost doubled in value between January and March and has since corrected.

While Polkadot remains a top 20 cryptocurrency by market cap, AltSignals is just launching its crypto token. New crypto assets often produce massive investment returns, and AltSignals’ unique blockchain offering could make it next in line for 100x gains.

What is Polkadot?

Polkadot (DOT) is an interoperable blockchain network and innovative layer-0 protocol. Polkadot unleashes the potential of blockchains to reach a far broader scale than has been possible in the past, as interoperability limitations have been a key barrier to blockchain scalability.

Polkadot helps its users easily exchange data and value between independent blockchain networks, giving anyone access to cutting-edge blockchain technology without participating in risky bridging processes.

Polkadot price prediction: Could DOT reach $100 in 2025?

The DOT token reached its previous all-time high during the 2021 bull market, climbing to a $54 valuation. The current Polkadot price prediction highlights critical resistance areas at $15 and $30 on the way back to an all-time high.

The Polkadot price prediction forecasts the potential for 10x gains from DOT in the coming years, but it may struggle to make significant improvements on its previous high. By 2025, experts suggest that the Polkadot price prediction is a maximum of $86.

What is AltSignals?

AltSignals has supported 50,000+ crypto traders with profitable trading signals since its launch in 2017. The project utilizes algorithmic indicators to deliver signals with an unmatched level of accuracy, making it an industry-leading platform for crypto trading tools.

The proprietary indicator released by AltSignals, AltAlgo™, helped those who matched its trades to 10x their portfolio in 19 separate months. It boasts an impressive accuracy rate of over 70%, making it one of the most successful trading indicators in Web3.

AltSignals is expanding its blockchain offering by releasing a new crypto asset, ASI. ASI provides access to a new-and-improved trading toolkit powered by an artificial intelligence called ActualizeAI.

ActualizeAI will leverage natural language processing (NLP) and predictive modeling to augment AltSignals’ trading tools with machine learning capabilities. By unleashing the full power of artificial intelligence on crypto market data, ActualizeAI is expected to give traders of all skill levels an edge while trading.

How does ASI work?

The new crypto asset being released by AltSignals, ASI, provides direct access to ActualizeAI – the artificial intelligence trading stack currently being developed by AltSignals.

The platform’s native token also provides entry to AI Members Club, an online community designed to give users more profitable trading opportunities. AI Members Club will provide users with access to public and private sales for promising crypto projects, which are often highly lucrative investment opportunities.

AI Members Club will also host online trading tournaments where massive crypto rewards are paid out to winners. As well as this, ASI token holders can stake their new crypto asset directly on the AltSignals platform and start earning a passive income.

Could ASI reach $5 in 2025?

AltSignals has the potential to become a significant AI-based blockchain protocol. It offers a novel solution to navigating market volatility that could appeal to many users over time.

Some experts are forecasting significant investment returns from the ASI token presale. The price of ASI will rise from $0.012 to $0.02274 during the event before it goes live on exchanges at the $0.02274 price level. By 2025, the new crypto asset could possibly be worth more than $5 – a staggering 200x price rise from the end of the presale.

AltSignals vs. Polkadot price prediction: Which is the better investment opportunity?

As a brand-new crypto asset, AltSignals is expected to produce a higher percentage return when compared with the Polkadot price prediction. While DOT investors are still likely to see significant returns, ASI is a fascinating investment opportunity for a key reason.

AI protocols in crypto are generating an increasing level of hyperbole, and many experts are suggesting that it could be the next subdomain of Web3 to take off truly. AltSignals could spearhead this progress over the coming years, which makes the new crypto asset presale a promising investment opportunity.

You can participate in the ASI crypto presale here.

The post Polkadot Price Predictions Set To Soar as AltSignals’ ASI Token Hits the Market. Will The New Crypto Asset Beat Polkadot? appeared first on CoinJournal.

Venom’s testnet to go live next week, ushering in a robust dApp ecosystem

Key takeaways

The Venom testnet is set to go live next week, allowing developers to developers to test and debug dApps and blockchain protocols.

The testnet is expected to boost innovation and promote community building with the Venom ecosystem. 

The Venom Foundation recently partnered with Hub71 and DAO Maker.

Venom’s testnet to launch next week

The Venom Foundation, the development team behind the Venom blockchain, announced on Tuesday, April 18th, that its testnet is set to go live next week. 

The team pointed out that it is looking forward to providing users and developers with the opportunity to fully experience its Blockchain.

The Venom testnet is designed with ecosystem users and developers in mind. The testnet would allow developers to test and debug dApps and blockchain protocols while providing users with an immersive experience of these applications. 

The team added that the testnet would lead to innovation and promote community building within its ecosystem. 

To take advantage of the testnet, Venom users would be required to carry out two simple steps before being able to explore a variety of dApps built on Venom.

Users will need to install the Venom wallet as a Google Chrome extension or via the app on Google PlayStore. The second step requires users to claim testnet VENOM tokens, allowing them to start their journey within the Venom ecosystem. 

The Venom testnet will feature various dApps

According to the Venom team, the upcoming testnet will feature various decentralised applications (dApps). Some of the dApps are native to the Venom ecosystem, such as Venom Scan, while a few are external projects. 

The team has put in place various social and on-chain tasks to provide users with an experience of what the Venom blockchain dApps will offer. This is done to ensure that users are able to fully engage with the Venom blockchain in various ways. 

Venom offers developers the opportunity to build projects on the asynchronous Venom blockchain. By building dApps on this blockchain, developers get to enjoy ultra-fast speed at 100k TPS, and a dynamic sharding feature that enhances scalability and network reliability. 

The Venom Foundation concluded that they are excited about the launch of the testnet and the numerous dApps and features that would come with it. 

The Venom Foundation has been in the news for all the right things in recent months. In February, the foundation partnered with DAO Maker to incubate promising Web3 startups focused on delivering real-world use cases.

During the same period, the Venom Foundation teamed up with Hub71, Abu Dhabi’s global tech ecosystem, to allow startups to gain access to enterprise-grade solutions and simplify blockchain adoption for businesses.

The post Venom’s testnet to go live next week, ushering in a robust dApp ecosystem appeared first on CoinJournal.

Space and Time partners Microsoft to bring real-time blockchain data to Azure

Space and Time and Microsoft want to make it easy for Azure customers to integrate blockchain data into business processes.
The one-click deployment will help enterprises bridge blockchain, data assets and AI, the two companies said in a press release.
Microsoft invested in Space and Time’s $20 million investment round last September.

Web3 data warehouse Space and Time and tech giant Microsoft are collaborating to make it easy for developers to access blockchain data on the Microsoft Azure Marketplace.

The companies said in a press release on Wednesday that developers can now access Space and Time’s one-click deployment directly from the Azure marketplace, with projects leveraging the technology to access, manage and perform analytics on their blockchain-native data easily and securely.

With this integration, businesses can effortless leverage decentralised data warehouse technology without having to rearchitect existing infrastructure. In this way, enterprises can create use cases on the blockchain without losing their compute power or security.

As CoinJournal reported, Microsoft recently launched its Azure Blockchain Tokens platform to help businesses easily create their own blockchain tokens.

Access to verifiable data should be easy and secure

Making the one-click deployment possible on the Azure Marketplace offers developers the opportunity to accelerate the onboarding of enterprise data to the blockchain, the two companies announced.

This will include large volumes of smart contracts and indexed blockchain data, with enterprises able to bridge data assets, the blockchain and AI.

 “The need for verifiable data across blockchains, enterprises and AI has never been more important. We provide enterprises with the ability to integrate blockchain data into their applications and business processes, which is critical for both customer growth and enabling responsible data stewards,” Nate Holiday, the CEO & co-founder of Space and Time, commented.

Space and Time’s latest collaboration with Microsoft follows the computing and AI behemoth’s investment in the data warehouse platform in September 2022. The $20 million investment round Space and Time secured was led by M12, Microsoft’s venture capital fund.

The post Space and Time partners Microsoft to bring real-time blockchain data to Azure appeared first on CoinJournal.

Ethereum Price Prediction For May. Will Shanghai Split Boost ETH, or is Metacade a Better Investment Option?

Ethereum is well-regarded as a crypto stalwart across the industry and ultimately remains the leading provider of blockchain network services for a host of decentralized apps (dApps), DeFi, and GameFi platforms. Ethereum news is buzzing with the platform’s now completed Shanghai update hot on the heels of “The Merge,” with analysts pondering over what the Shanghai split will do to the Ethereum price prediction in 2023.

While Ethereum news dominates the wires, Metacade’s recent partnership with MetaStudio and successful coin listing on Uniswap has quietly built on the momentum gained during the platform’s incredible presale event. Analysts are now waking up to the potential of Metacade, with many asking which is the better investment option this year, MCADE or ETH?

What is the Shanghai Split?

Shanghai is an upgrade which successfully activated on Wednesday, 12th April, and allows investors who have staked their ETH holding on the network to start withdrawing funds for the first time.

The main feature of Shanghai is to complete Ethereum’s transition from the unwieldy, expensive, and environmentally unsound proof-of-work (PoW) consensus mechanism to the cheaper, more flexible, and ecologically friendly proof-of-stake (PoS) mechanism to approve transactions. This switch allows Ethereum to move away from needing energy-intensive blockchain miners and the associated computer hardware, reopening the broader debate around the environmental impact of P.O.W cryptos.

Ethereum (ETH) Price Prediction 2023

The impact of the Shanghai split on the price of Ethereum remains unknown; however, analysts and investors have voiced their concerns over the potential implications in Ethereum news articles. In addition, many investors are apprehensive that the ability to withdraw staked ETH could deleteriously impact price predictions this year.

While current Ethereum price predictions in May  remain bullish, ( ETH is anticipated to rise above the $2,500 barrier by year’s end), markets and investors are nevertheless braced for price predictions to be revised downwards as a consequence of the possible release of unstaked ETH onto the exchanges.

What is Metacade?

Metacade is a brand-new GameFi platform with lofty ambitions to build the world’s most extensive online gaming arcade. Metacade’s primary goal is to provide its community access to the broadest possible gameplay experience to maximize its total addressable market (TAM).

The platform will revolve around a thriving community built by gamers, developers, and crypto fans as a hub for like-minded individuals to hang out and collaborate to push Metacade to greater heights and help push innovation in the wider Web3 gaming sector. While gamers can earn income through the platform’s outstanding play-to-earn (P2E) mechanics, this is just one string of a comprehensive rewards system that outstrips other GameFi titles.

For instance, users are incentivized to contribute to community building by gaining rewards each time they post social content in the form of alpha, game reviews, and contributions to forums and online chats. In addition, Metacade has a token staking scheme where users can gain passive income while investing in the platform’s future.

These features provide Metacade with exceptional levels of utility built into the MCADE coin. Alongside that, the platform’s transition to becoming a fully decentralized autonomous organization (DAO) will build governance into the token.

One essential part of this devolution of power to the community members is the pioneering Metagrants scheme, through which developers can apply for crypto grants to support the creation of exclusive new games for Metacade. Voting rights are rewarded to MCADE coin holders, who can vote for their favorite ideas. The concepts with the most votes can receive a grant from the platform’s central treasury, thus helping the platform evolve.

Metacade (MCADE) Price Prediction 2023

There is much to be excited about when looking at the price predictions for MCADE this year. With the successful listing on Uniswap at $0.022 already under its belt, the imminent listings on Bitswap and MEXC later in April and early May, respectively, look set to provide MCADE with a boost.

In addition, Metacade’s commitment to paying out rewards in MCADE will help maintain the flow of tokens within its ecosystem, keeping demand high and thus pushing the price higher. That, combined with the roll-out of new games and features throughout the coming weeks and months, could move MCADE beyond $0.50 by the end of the year, a price that would more than 50x returns for investors that bought at the presale launch price of $0.008.

ETH vs. MCADE: Which is the better investment this year?

Recent Ethereum news has made investors nervous about the value of their holding. While this has yet to filter into the Ethereum price prediction for 2023, there’s every chance that analysts will begin to revise their Ethereum price predictions downwards in the coming weeks and months if the Shanghai upgrade and token withdrawal capability hit the value of ETH.

There is no such uncertainty surrounding the future of MCADE. On the contrary, with the impending listing on more exchanges imminent, the platform will reach a wider audience and increase demand for tokens. These new listings, combined with the developing  utility of MCADE this year, make it an interesting potential investment choice in 2023.

You can find more information, including on how to buy MCADE, here.

The post Ethereum Price Prediction For May. Will Shanghai Split Boost ETH, or is Metacade a Better Investment Option? appeared first on CoinJournal.

FET price slips as bears threaten bullish outlook

FET price dipped 8% to support near $0.38
Today’s sell pressure comes after FET/USD broke higher after a pennant pattern.
Fetch.ai is a leading artificial intelligence related crypto project.

Fetch.ai price has retraced to support near $0.38 amid a broader crypto market dip that has Bitcoin again below $30k and Ethereum under $2k.

According to data from CoinGecko, the price of FET was down more than 8% in the past 24 hours on Wednesday morning, with the technical picture suggesting possible breakdown to a recent support zone.

This could be the case if bears take advantage of current weakness to force prices lower.

FET price prediction: bulls need to hold onto gains

Fetch.ai is an artificial intelligence-powered blockchain platform that seeks to enable full decentralisation of peer-to-peer transactions. The platform has announced new crypto trading products for DeFi users as the ecosystem embraces the benefits of artificial intelligence in trading.

The price of Fetch.ai has been one of the altcoins to profit from the sentiment around the AI in crypto narrative in 2023.

As can be seen in the Fetch.ai price chart below, FET/USD recently formed a bullish pennant – a technical indicator that usually suggests continuation on the upside.

Fetch.ai price prediction daily chart. Source: TradingView

But this outlook could be jeopardised if prices dip further, with primary support then expected near $0.34.

FET also has the daily RSI flipping downwards from near the oversold territory, while the MACD remains above the signal line but is suggesting weakness. If bears take charge, the recent consolidation zone between $0.25 and $0.29 will offer a crucial buffer should market weakness continue.

On the upside, if more buy FET pressure materialises, a flip to the February highs of $0.60 could be possible in the coming days. The immediate outlook suggests the area around $0.40 should offer the main resistance before a +60% breakout to the aforementioned target.

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Opinion: Volatility lowest since January, but until it drops further, Bitcoin serves no purpose

Bitcoin’s volatility is a massive problem, writes our head of research, Dan Ashmore
The volatility is the lowest since January, but that doesn’t provide much solace with regards to Bitcoin’s actual utility
For Bitcoin to deliver on its potential, it needs to become boring, with volatility closer to gold’s famously steady return profile

It’s relatively calm in Bitcoin markets right now, but that won’t last long. And it’s a massive, problem. 

First, let us look at the short-term volatility, because I noticed over the last few days that is has come down a little. Plotting the 1-month volatility on an annualised basis, we are at the lowest mark since January, when this little Bitcoin surge was kicked off. 

OK, fine. 

But don’t confuse that with a steady market. The crypto markets remain highly capricious and capable of swinging back and forth and eye-watering speed. Volatility is still close to 50%, which in the context of any regular market, is truly insane. 

Perhaps plotting the daily returns of Bitcoin against that of Tesla shows this better. Tesla is just about the most extreme member of the S&P 500, its stock price more volatile than its CEO’s Twitter feed. Comparing your volatility to Tesla is like comparing your ability to run a football team to Todd Boehly (seriously, wtf). 

And yet, Bitcoin’s daily price changes not only match Tesla, but commonly exceed it. 

Indeed, if we plot Bitcoin’s volatility back over a longer time period, we see that these fallow periods do occur, but rarely last long. Bitcoin and volatility are like Frank Lampard and Chelsea, apparently – occasionally apart, but you know that before long, they will be back. And they are terrible for each other. 

Make no mistake about it, volatility is one of Bitcoin’s greatest drawbacks. It is difficult to imagine the asset ever achieving anything remotely close to a store-of-value status while it oscillates back and forth like it does. 

If the ultimate vision for Bitcoin is some sort of digital gold, it has a hell of a long way to go. Flipping the earlier comparison from Tesla to gold is more apt, and puts the chasm between the two assets up in lights:

Obviously, this could all change in the future. I don’t have a crystal ball. Regarding Bitcoin’s ultimate vision, it simply has to, because as it currently stands, Bitcoin is not achieving anything. 

The arguments commonly point to the developing world. Bitcoin can offer a greater place to store one’s financial wealth, they argue. Again, this may prove true in time, but even a collapsing currency like the Argentinian peso is not as volatile as Bitcoin. A gradual decline such as the peso (and I am using gradual a bit liberally there, admittedly) is at least easier to plan for than Bitcoin, which can quite literally be 20% lower in the space of a couple of minutes. 

While Bitcoin is capable of these massive price moves, it isn’t in a place to help anyone. That argument is currently better served to stablecoins, pegged to fiat currencies like the US dollar, which can be equally accessible but don’t swing in price (at least, the prudently-designed ones don’t). Now, their flaws could fill a whole new article which I won’t get into here, but the point is this: Bitcoin is literally useless while its volatility is as high as it currently is. 

My friends often poke fun at me for chatting about gold, or doing analytical pieces on its price drivers. Boomer, they call me. And that’s fair – gold is boring as f**k, and watching its price chart is like watching paint dry. But that is kind of the point, isn’t it? Gold is a store of value, and therefore it should not be printing gains and losses that get Robinhood investors all hyped up. Otherwise, it wouldn’t be doing its job. 

Bitcoin is the same. It needs to take a leaf out of gold’s book and become boring. Until that happens, there is no point to this mythical asset beyond wild speculation. 

The post Opinion: Volatility lowest since January, but until it drops further, Bitcoin serves no purpose appeared first on CoinJournal.

Ethereum price prediction as longs liquidations jump

Ethereum price dropped violently on Wednesday as cryptocurrencies pulled back.

Bullish liquidations jumped to the highest point since March 9.

Ethereum (ETH) price nosedived suddenly as more investors liquidated their positions. The coin pulled back to a low of $1,976, the lowest level since Monday this week. It has dropped by more than 8% from the highest point this week.

ETH bullish liquidations rise

Ethereum joined other cryptocurrencies in a major sell-off on Monday. Bitcoin moved below $30,000 for the second time this week. In the same period, popular coins like Arbitrum, Space ID, Kaspa, and Verasity also pulled back. 

It is not clear why Ethereum and other cryptocurrencies crashed on Wednesday. A likely reason is that the number of bullish liquidations jumped to the highest level in months. According to CoinGlass, the amount of bullish liquidations jumped to over $41.1 million. In contrast, shorts liquidations were over $1.2 million

These numbers were significantly higher than on Wednesday when bulls liquidations were just $9.6 million. Shorts liquidations were $16 million.

In most periods, cryptocurrencies jump when short-sellers start liquidating their coins and vice versa. For example, Ethereum price soared on April 14 when shorts liquidations jumped to more than $62.8 million.

Ethereum’s decline also coincided with outflows from several centralized exchanges. Binance has had over $18 million of outflows in the past 24 hours. Similarly, Bitfinex, Huobi, and Bybit lost over $20 million each.

Meanwhile, Ethereum price also reacted to the latest questioning of Gary Gensler on Tuesday. In congressional testimony, he repeatedly refused to answer whether he believes that Ethereum is now a financial security.

In a previous interview, Gensler said that he believes that Ethereum and other proof-of-stake coins are securities. His main concern is the opaqueness of staking, which he believes should be regulated to protect customers. On Monday, the SEC identified five coins, including Algorand, that it believes are securities.

Ethereum price prediction

The daily chart shows that the ETH price has been bullish in the past few months. It jumped to a high of $2,120, the highest point in months. A closer look shows that it formed a dark cloud cover pattern, which explains why it has dropped sharply. It also dropped below the first resistance of the Woodie pivot point.

Ethereum remains above the 50-day and 25-day moving averages. Therefore, there is a likelihood that the coin will have a bullish breakout in the coming weeks a buyers target the second resistance at $2,200.

How to buy Ethereum

Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


Buy ETH with Bitstamp today

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


Buy ETH with Binance today

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