My friend told me that what happened to Luna can happen to all other digital currencies except btc. Is that true? I don’t know enough of the tech to say yes or no. Is there anything about the tech behind eth that makes it less of a chance that what happened to Luna will happen…
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Bitcoin traded at $30,000 during the time of writing. The coin has maintained its resistance at $28,000 as the bears came to rescue. Over the last 24 hours itself, Bitcoin attempted to break its consolidation. For the consolidation to be invalidated it has to trade above the $31,000 price level. The lateral movement might cause a case of breakout as usual. The indicators of Bitcoin on the one day chart seem to look positive. In the last 24 hours, BTC rose by 4.6% and in the last week there has been 0.8% appreciation. Despite a positive outlook on the one day chart, there could be a possibility of price breaking on the downside. The global cryptocurrency market cap today was $1.33 Trillion with a 3.8% positive change in the last 24 hours. Bitcoin Price Analysis: One Day Chart Kingcoin was trading at $30,542 at press time. After trading close to its rigid support line of $28,000, the coin broke past $29,000 level. Overhead resistance for the coin stood at $31,000 and if the bulls continue the momentum then the coin might try to trade near the $34,000. Other resistance mark stood at $36,000 and then at $37,000. The volume of the coin was seen rising which is tied to being bullishness. The volume bar was green at the time of writing, that also highlights a rise in buying pressure. Although, Bitcoin painted bullishness the coin, it formed a descending triangle. A descending triangle is connected to bearish price action so it cannot be determined certainly if the coin would move on the upside. Technical Analysis Bitcoin flashed bullish signals on the one day chart. The Relative Strength Index recovered on the chart, the indicator moved north near the 50-line. This reading meant that buyers came back in the market and signified increased demand indicating bullish pressure. The Average Directional Index displays the directional trend of the coin. The ADX was parked above the 40-mark, this pointed out that the current trend was strong. ADX however, displayed a downtick and that could signify that the present price momentum was dying down flashing a change in current price momentum. Related Reading | TA: Bitcoin Clears $30K, Why This Could Mean Trend Change Awesome Oscillator depicted green histograms. The indicator depicted market momentum and it showed bullishness. AO also flashed buy signals on the one day chart. This corresponded with the Relative Strength Index as the indicator climbed near the half-line. Chaikin Money Flow determines the capital inflows and outflows. The indicator was hovering near the half-line because capital inflows recovered at press time. It is however uncertain if BTC will act according to the indicators as the coin also points towards a possible bearish turn in price. Related Reading | Bitcoin (BTC) At $29,000, How Long Will The Consolidation Continue?
The CEO of Bank of America says that his bank has hundreds of blockchain patents but regulations will not allow it to engage in crypto. “The reality is that we can’t do it by regulation,” he said. Bank of America’s CEO on Crypto Bank of America (BOA) CEO Brian Moynihan talked about cryptocurrency in an […]
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Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating. Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading,…
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Is there a way to mass transfer an ERC20 coin to a single wallet (amass) from hundreds of metamask addresses in a single metamask session (same private key)? Something like disperse.app but the opposite? Or should I loop a transaction through a script somehow? Can somebody help me out, I'm not a programmer. submitted…
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Bitcoin has been on a bear path given its recent movements and it’s no secret that the digital asset is well out of the bull market. This has sparked speculations as to what will actually trigger another bull rally for the pioneer cryptocurrency. Billionaire Tim Draper who has always been vocal when it comes to his thoughts about the crypto market has weighed in on this and put forward what he believes will be the defining factor for the next bitcoin bull market. Women Are The Key It is no surprise that more women are moving into the market. Even though males still disproportionately dominate crypto investing, the number of women moving into the space has been on the rise, reaching as high as one in every three investors now being a woman. Nevertheless, there is still a long way to go when it comes to bringing more women into crypto and billionaire Tim Draper believes that they will drive the next bitcoin rally. Related Reading | Bitcoin Dominance Remains High As Market Sell-Offs Settle Draper bases this on the fact that women command an immense purchasing power and if they were to bring this power into the bitcoin market, it will trigger another rally for the digital asset. He is not very far off with this assessment given that he said that women control approximately 80% of retail spending. BTC recovers above $30,000 | Source: BTCUSD on TradingView.com Women, who only currently make up 30% of all crypto investors in the United States, are still yet to move into the market en masse compared to their male counterparts, who by comparison possess less retail purchasing power. The factors behind this disparity usually come down to the fact that males are said to be risk-takers compared to women. Hence, are more comfortable playing in a relatively new space with little to no regulation. Driving Bitcoin To $250K Draper’s analysis of more women moving into the market could mean that bitcoin will hit new all-time highs. He puts forward where he believes that the price of the digital asset may end up and that number came out to $250,000. Related Reading | Bearish Indicator: Is Bitcoin Headed For Its Ninth Red Weekly Close? However, the billionaire explains another factor that will drive the price to this point. Alongside more adoption from women, he cites adoption from merchants who save more money when they accept bitcoin compared to credit cards. He notes that once the cryptocurrency becomes more widely accepted as a form of payment, it will drive more women to own bitcoin wallets and buy things with BTC. “Then you’re going to see a Bitcoin price that’ll just blow right through my $250,000 estimate,” the billionaire added. Featured image from Blockchain Journal, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
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