Author: dfmines

Cryptocurrency News and Public Mining Pools

Why Bitcoin Dominance Could Submit To Altcoin Season Several Months Longer

Bitcoin price is struggling to break through resistance at $50,000, and it could partially be altcoins to blame for the weakness. The most recent technical structure on the highest time frames suggests that not only could alts continue to gain against BTC dominance, altcoin season itself could last a while longer. Bitcoin Dominance And Technical Analysis Using The Metric Technical analysis is a subjective art. The practice has enough naysayers as is, but even those that subscribe to the study don’t always believe that all charts are created equally. For example, there are several industry vets that do not believe BTC dominance – a metric that weighs Bitcoin against the rest of the crypto space in terms of market share – has value as part of crypto analysis. Related Reading | Total Crypto Market Cap Reenters Monthly RSI Bull Zone If Ethereum outperforms Bitcoin, for example, dominance might dip as a result. The magnitude of this is enhanced further due to the sheer volume of unique altcoins that exist today. Some even argue that the metric itself was once useful, but less so due to dominance not including the vast world of NFTs or the constant sea of new DeFi projects springing up. For those that are believers, the recent altcoin season could have been predicted with some degree of accuracy. And if the metric continues to hold weight, altcoin season might have another few months left. Could altcoins beat Bitcoin at its own game a while longer? | Source: CRYPTOCAP-BTC.D on TradingView.com Why Altcoins Season Could Last Several Months Longer BTC dominance has established a massive trading range between 70% and 38% dominance. While altcoin sentiment was at its worst compared to Bitcoin, the range failed to break to the upside, resulting in a swing to the lower boundary of the trading range. BTC.D stopped short of touching the previous bottom, but is following a pattern from the last cycle that suggests not only will the lower boundary be touched, lows will be swept and perhaps a new range reached. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course Technicals also support a fall into the bear zone – or oversold levels – on the Relative Strength Index. The total crypto market cap has also reentered the bull zone on the RSI, all while Bitcoin struggles with resistance. The LMACD is still fully red on the histogram and not nearly at the depths, lengths, or oversold levels as the last market cycle. All of the signals combined suggest that altcoins are likely to outperform Bitcoin for another few months. A monthly candle close below the trading range highlighted in the chart above might be the exit signal that altcoin season is over, and putting any crypto capital back into BTC might become the more profitable venture again. Before it happens, there could be extreme volatility on the dominance chart in a battle that’s brewing between Bitcoin and altcoins. Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

The Largest Art Museum in the World Partners With Binance to Auction Leonardo Da Vinci, Claude Monet NFTs

The Binance NFT Marketplace announced today that the non-fungible token (NFT) platform will launch a premium NFT collection backed by the State Hermitage Museum in Saint Petersburg, Russia. The NFT auction will begin on August 31 and run until September 7, 2021. The NFT auction will feature NFT artwork by the world-renowned artists’ Vincent Van […]

Best day of the week to DCA

I've always heard the best day of the week to DCA is Sunday, like many of you I followed this advice blindly until I did my own research(also a heavily touted piece of advice). What I found was not only was Sunday not the best day it was one of the worst days. I do…
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Is Electrum-RVN dead?

Can't get it to work with my Trezor. submitted by /u/Interesting-Ease1869 [link] [comments]

Price analysis 8/30: BTC, ETH, ADA, BNB, XRP, DOGE, SOL, DOT, UNI, LUNA

Bitcoin and select major altcoins are still facing selling at overhead resistance levels, indicating that the next leg of the uptrend may have to wait.

US Global Investors bought crypto exposure through Grayscale funds

The investment firm already has significant exposure to gold, minerals, precious metals, petroleum, and other natural resources.

Ethereum Miners Balances Have Tripled in the Past 4 Weeks, Now Closing In On a 3-Year High

submitted by /u/BrianAtSantiment [link] [comments]

How to chase out ravenminer?

I've been mining on ravenminer for a few months and assumed cashing out would be easy. Does anyone know how to convert to USD? I tried their partner exchange, but they don't allow conversion to cash in the United States. I tried binance, but I'm stuck in ID approval hell. Has anyone done this successfully?…
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PlanB: S2F Model Predicts Bitcoin To Break $100k By Christmas

PlanB, the popularizer behind the Bitcoin S2F method, says the model predicts BTC will break $100k by this Christmas. The Bitcoin Stock-To-Flow Model According to PlanB on Twitter, the BTC stock-to-flow (or S2F in short) model predicts that the cryptocurrency is on its way to break $100k by Christmas. The S2F model is a method to predict the price of an asset based on the ratio of the stock (supply) to the flow (annual production). PlanB is commonly known as the originator of the model, which is, however, not true. The method was already used for other assets like gold or silver before the analyst only popularized it for Bitcoin. The S2F value of an asset can show how scarce the commodity is. The model uses a formula to relate that value with the price of the asset, which in this case is BTC. Related Reading | Ethereum Issuance Drops Below Bitcoin’s For the First Time, Why This May Lead to a New Rally Now, here is a chart that shows the trend of BTC’s price vs what’s predicted by the model: Along with the S2F model, the Time Model is also depicted | Source: PlanB As the above graph shows, the Bitcoin price as predicted by the model seems to be remarkably close to the real thing so far. There are a few points of deviation, but the overall trend seems to be quite similar. Now, if the price follows the pattern going forward, BTC’s value should go up soon, reaching over $100k by Christmas. Related Reading | Stablecoins Reserve Hits A New ATH, What Does It Mean For Bitcoin’s Price? Besides the S2F model, there is also the curve for the Time Model in the chart. This “Time Model” is a method that takes into account diminishing returns and lengthening cycles while predicting the price. According to this other model, the price should be around $30k by Christmas. PlanB, however, believes that this method underestimates Bitcoin’s value, and the S2F model is more accurate. BTC’s Price At the time of writing, Bitcoin’s price floats around $47.8k, down 4% in the last 7 days. Over the past month, the cryptocurrency has increased 14% in price. The below chart shows the trend in the coin’s value over the last three months. BTC’s price catches a downtrend | Source: BTCUSD on TradingView After breaking above the $49k price mark again yesterday, Bitcoin has started to sharply fall down. It looks like the cryptocurrency is in a range market right now as the coin’s price continues to swing between $45k-$50k. It’s unclear where BTC might head next, but if the S2F model holds any weight, the crypto might be moving big soon in order to reach $100k by Christmas. Featured image from Unsplash.com, charts from PlanBTC.com, TradingView.com

Suspect Disappears With $119,000,000 Worth of Dogecoin in Alleged DOGE Mining Scam

submitted by /u/SpankMeDaddy69Times [link] [comments]