Category: Cryptocurrency News

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For someone still living in 1995, it might be too difficult. But anyone who's been using a smart phone, going online, and doing online banking, will find using crypto no more difficult than anything else they've been doing. How hard is it to use crypto for a purchase? If you know how to use a…
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Hello, today I found this article https://lukeplant.me.uk/blog/posts/the-technological-case-against-bitcoin-and-blockchain/ browsing the programming subreddit. It gives many reasons against Bitcoin (and Ethereum). I was wondering if anyone has encountered rebuttal arguements against this article, as many of the points make sense to me. The many ones are: If a network got divided in 2, e.g. Russia cut off…
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Despite the crypto bear market, JPMorgan believes bitcoin is grossly undervalued. The bank today repeated its appraisal of bitcoin’s fair worth of $38,000, which it awarded the cryptocurrency in February when it was trading around $43,400. This is almost a 28% increase over the current price of $29,757. JPMorgan Gives Nod To Crypto As Alternative Asset Class Cryptos have surpassed real estate as one of the bank’s favored “alternative assets” or assets that don’t fit into traditional categories like equities and bonds, according to a note released on Wednesday. It stated that it still believes $38,000 is a fair price for bitcoin. That sum was 28% higher than bitcoin’s morning price of $29k. The bank’s strategists, including Nikolaos Panigirtzoglou, wrote in the note: “The past month’s crypto market correction looks more like capitulation relative to last January/February and going forward we see upside for bitcoin and crypto markets more generally.” Related reading | Bitcoin Rejects Downside At $29k, Here’s Why This Is Good However, JPMorgan warned that the steep sell-off in Bitcoin and other cryptocurrencies has been more than in other alternative investments such as private equity, private debt, and real estate. As a result, the bank believes that “digital assets” have greater opportunity for recovery than other alternative assets. The report read: “We thus replace real estate with digital assets as our preferred alternative asset class along with hedge funds.” The rating represents a vote of confidence in the broader cryptocurrency market and bitcoin, which is presently selling at less than half of its all-time high of $68,721, The cryptocurrency market is dealing with the $50 billion collapse of algorithmic stablecoin TerraUSD and its sibling token LUNA, in addition to rising interest rates and the consequences from the crisis in Ukraine. The market capitalisation of all cryptocurrencies is now $1.2 trillion, down from $3 trillion in November. Total crypto market cap stands at $1.2 Trillion. Source: TradingView Despite the sector’s increased appeal, JPMorgan has reportedly altered Bitcoin and cryptocurrencies from a “overweight” to a “underweight” rating, implying that the bank is now less enthusiastic about the asset class and recommends a reduced exposure in an investing portfolio. Related reading | TA: Bitcoin Price Moves Higher In Range, $30.6K Still Presents Resistance Featured image from iStock photo, chart from TradingView.com

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Crypto market sentiment has dropped into the far negative once more. This has been one in the making ever since the Terra crash had begun and investors had scrambled to leave the market. A culmination of this and speculations that the market is headed into one of the longest bear trends ever recorded has now seen sentiment fall to levels not recorded since 2020. In The Extreme Fear Region Now, the crypto market sentiment has not been positive for a while. Most of the last two months have been spent in the fear territory and April had closed out in extreme fear. Nevertheless, the scores on the Fear & Greed Index had remained somewhat high until the LUNA crash. This has sent the market into extreme fear overdrive as the Fear & Greed Index now displays a score of 12, the lowest it has been in two years. Related Reading | Bitcoin, Ethereum Exchange Inflows Suggest Sell-Offs Are Far From Over More notable is the fact that the index had touched as low as 8 last week. This makes it the second-lowest score that has ever been recorded on the index, the lowest being a score of 5 in 2018. What had followed from its May 17th lows was a bit of a recovery but even that had not held up well. As of the time of writing, the index has lost another point and is now sitting at 11.  Market sentiment falls to extreme greed | Source: Arcane Research This extreme fear reading mirrors how investors are feeling when it comes to investing in cryptocurrencies at the moment. Simply put, investors do not want to put money into the market and this is evidenced by the exchange inflows that have been rocking the space. These exchange-wide sell-offs only contribute to the already declining sentiment, sending digital assets further down. Is It Time To Buy Crypto? Historically, when the crypto market sentiment has declined this much, it can be seen as an opportunity to get into the market right before recovery. This has worked out many a time for investors. But there have also been times when it hasn’t returned exactly what was expected. Namely, the downtrend had continued even when market sentiment was in the extreme fear territory. Total market cap recovers to $1.25 trillion | Source: Crypto Total Market Cap on TradingView.com Nevertheless, this is still regarded as one of the easiest buy indicators of all time. It is incredibly popular due to the fact that traders and investors will often try to use market sentiment to gauge when the bottom of the market is in and get in at the right moment. Related Reading | Institutional Investors Seek Safe Haven In Crypto Products Amid Market Uncertainty These are mainly used for the leading cryptocurrencies in the market such as Bitcoin and Ethereum since they are easier to track. But like with anything in a highly volatile market such as the crypto market, there is no such thing as an exact science. So while ‘buying the blood’ can yield good results, they can easily go bad.  Featured image from The New York Times, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… 

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The gradual scale would impose the highest taxes on the cheapest electricity sources.

Polygon, the popular Ethereum scaling platform, today announced the launch of a multi-million dollar fund to support Terra projects looking to migrate to Polygon. The first project to be granted funding is Terra-based NFT marketplace and launchpad, OnePlanet. OnePlanet will transition to Polygon in the coming months, becoming the dedicated marketplace for any migrated Terra…
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