Fidelity Digital Assets, a subsidiary of Fidelity Investments, has informed customers that it will start offering ethereum trading and custody services on Oct. 28. “Investors will be able to buy, sell, and transfer ether, accessing the same operational excellence, robust security, and dedicated client service model provided for bitcoin investments today,” the firm said. Institutional […]
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,…
Read more
A dip is common in the cryptocurrency market during a bearish downtrend. Most times, it could persist for a prolonged period. The current crypto winter of 2022 has seen the value of many coins drop. Investors are carefully weighing their options and considering if buying the dip is a smart move in the current market. Some investors move their assets to perceived safer ground as they brave the storm. In a price chart, a dip is identified as a valley. For Polkadot, expert predictions are varied on when the coin will eventually make the much-anticipated price comeback. Related Reading: Flow Rolls Out Blockchain Tools As Social Dominance, Coin Price Seen Rising Polkadot is way off its all-time high of $54.98 as of November 2021 to a modest $5.58, which is an exponential drop for the coin. DOT is unique since the project focuses on parachains that interlink with each other. These parachains are customized project-specific blockchains intertwined with the relay chain of Polkadot. The relay chain – the Polkadot network, secures and connects these parachains in numbers between 100 -250. Price Forecast For Polkadot The current market trend was also observed with Polkadot since it has been in a bearish reversal for months in 2022. The price movement for DOT will depend largely on the activity of market forces. With the coin falling below previous support levels of $10.33, investors keep their fingers crossed to see if the bulls will rally. The general market sentiment holds that if Polkadot can break the resistance level of $7, then the bulls are rallying. However, the strong bearish trend will continue if the price drops below the $5.70 support level. So far, in the year 2022, the price of the coin has been on a gradual decline. Even the parachains felt the effects as Acala USD (aUSD), for instance, lost its peg to the dollar. Judging from Bitcoin’s dominance, the dip in bitcoins price and dominance is a signal of a possibly prolonged bearish market generally. To Buy The Dip Or Not? Writing the entire project off as a colossal failure could be quite tempting. However, long-term crypto investors know that the market can suddenly reverse to an uptrend. With macroeconomic factors like inflation, it is easy to see why the cryptocurrency market is on a downtrend right now. Inflation rates in major countries like the United States have been on the rise amid concerns of a global-scale recession. Also, the Ukraine-Russia conflict has impacted the market negatively. With the US-dollar-pegged stablecoin Terra crashing, the general belief is no project is immune to the grip of market forces. For now, experts believe that buying the dip would favour long-term investors. However, the price could dip further due to the volatility and risk associated with cryptocurrency. Related Reading: Tron Development Activity Grows In The Last 7 Days – Except TRX Price So, it depends on the investor’s strategy and plans. But the general advice is: to buy the dip, use only money you can afford to lose. Price forecasts are mere speculations, and historically, cryptocurrencies frequently deviate from these assumptions. Featured image from Pixabay and chart from TradingView.com
submitted by /u/moonkingdome [link] [comments]
Finder’s panel has always shared thoughts regarding bitcoin and where they see the price going over the next months, and even years to come. In the last year, there have been some bullish predictions from the panels, but as time has gone on, these experts have begun to adjust their predictions to fit the current market. The most recent of these panels have revealed their thoughts on the digital asset and it is adjusted even lower. 11% Growth By Year-End The Finder’s panel shared their thoughts on where they believe the price of the digital asset will be ending up. According to them, they expect another 11% growth in the price of bitcoin from its current level. This will put BTC at a price of $21,344 by the time 2022 is over. Related Reading: Bitcoin Bottoms: The Psychology Of Bear Markets This is different from the previous predictions from the Finder’s panel through the course of 2021. Back in January 2022, the panel had said that they saw the price of BTC finishing the year at $76,360 by year-end. This would be reduced in April 2022 when the same panel had put the year-end price at $65,185. Another reduction saw them tender a $25,473 forecast for the digital asset back in July. One thing that remains constant is the reduction of the panel’s forecasts as the bear market continues. However, they still continue to maintain that bitcoin will still see an upward momentum towards the end of the year, hence the 11% prediction this time around. BTC price falls below $19,000 | Source: BTUCSD on TradingView.com Bitcoin In The Long Term Like always, the Finder’s panel did not only tender forecasts for the short term but also for the long term. These forecasts tend to span almost a decade, putting prices at where they think they will be at various important dates in the future. In addition to 2022, they also gave price forecasts for the years 2025 and 2030. Even these forecasts saw an upward trajectory, although lower than their previous expectations, keeping in line with the bullish outlook of the panel. Related Reading: Dogecoin Hash Rate Hits 7-Month High, But What Are Price Expectations? The first, in 2025, they expect the asset to trade at $79,000. In April, this figure was $179,000, and $107,000 in July. The 2030 forecasts were revealed to be $270,000. To put this in perspective, the panel had previously said that BTC would hit $314,000 back in July, and $420,000 back in April. Despite the varying price predictions, the report showed that 77% of the experts in the panel still believe that bitcoin is a store of value. “Nothing fundamentally has changed for Bitcoin, it’s a global capital crisis, and Bitcoin is affected in a short term but will recover; a lot of other financial assets will not,” said Serhii Zhdanov, CEO of EXMO. Featured image from MARCA, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
PRESS RELEASE. After being listed on LBank Exchange on September 29, 2022, Genesis Token (GTN), the native token of Relictum Pro, has been witnessed by investors with an impressive 4 times price surging, indicating the great potential of the project has been further recognized by global crypto community. The global expansion of Relictum Pro continues […]
Russian revenues from the minting of bitcoin saw a multifold increase in the past few years before declining significantly since this past spring. The findings come from a new study which also established that the sector was growing during both ups and downs in the crypto market. $1.4 Billion in Turnover Expected From Russia’s Bitcoin […]
DeFi investing is riddled with potholes. Here are a few tips on how to avoid them.
Analytical data reveals that DeFi’s total value registered another dip, with the total value locked (TVL) falling below $50 billion at the time of writing.
The bill addressed stablecoin regulation from the start; now the Financial Conduct Authority will be empowered to regulate activities with crypto assets if the amended bill passes.
