Altcoins
The current rally in the alt markets could be a bull trap, crypto expert warns
Widely-followed crypto analyst Crypto Capo has suggested that altcoin markets could collapse According to the crypto expert, Cardano (ADA) is obviously bearish Popular crypto strategist Crypto Capo has stated that he is not yet bullish on most altcoins, indicating that 99% of them are showing signs of a slump set to come soon. Addressing his Twitter following yesterday, the crypto trader spoke in retrospect to the recent upsurge in crypto markets crossing into the new month. Market leader Bitcoin cruised upwards of $43k, and as expected, several altcoins tagged along in growth. However, the pseudonymous crypto investor said that while altcoins undergo imminent market growth, the joy could be short-lived since they could well be leading investors into a bull trap. “Some people may think I’m...
How to trade crypto using BTC dominance?
Bitcoin (BTC) is both the first and the most prominent cryptocurrency in the world when it comes to market capitalization as well as trading volume. These factors are quite significant, considering that all cryptocurrencies trade against Bitcoin and Bitcoin’s dominance can actually serve as a valuable indicator when trading all different types of cryptocurrencies. This post will offer insight on how to trade cryptocurrency while utilizing the Bitcoin dominance indicator and how to read the Bitcoin dominance index chart overall. What is the BTC dominance chart? Bitcoin dominance is uncovered by comparing Bitcoin’s market capitalization to the capitalization of the entire crypto market. The higher Bitcoin’s market capitalization the more Bitcoin dominance is at play, and we have the answer t...
Market crash sees ADA fall to a multi-month low, DOT and AVAX drop out of the top ten
The price of Cardano’s native token ADA sank to $0.82 after enduring more losses today Binance USD has moved to 9th in market capital, displacing Avalanche and Polkadot that have suffered heavy losses today Cryptocurrencies are trading in the red on Tuesday as the bloodbath persists on account of the growing tensions between Russia-Ukraine. Market data shows that only Terra’s LUNA has registered a green candle in the last few hours. Bitcoin dropped below $36,500 earlier today for the first time since 4th February, setting a multi-week low of $36,488 as per CoinMarketCap. Though the OG cryptocurrency has since steadily climbed back to $37,600 as of writing, it is still down 2.85% in the last 24 hours. The current Bitcoin price means it has shed almost 14% in one week. Ether has ...
Altcoins Back in The Green: SOL and LUNA Leading the Comeback
The cryptocurrency market has painted a picture of green into the new week in what is seemingly a trend for February This is the third week that the market has started strongly – last week, the market embarked on an uptrend on Tuesday Bitcoin and Ethereum recover Bitcoin, whose price plunged to a 24-hour low of $38,112 over the weekend, has bounced back and is currently trading at $39,025 against the dollar. Despite seeing a positive 2.01% 24-hour change, the coin is still down over 7.40% in the last seven days. Ethereum’s native coin has similarly bounced from a dip to a weekend low of $2,585.95 posted during yesterday’s trading session. Though Ether is still trading below $2,800 ($2,715) – it has seen approximately 3.33% of gains in the last 24 hours as per CoinMarketCap data. Here’s a l...
Here is why crypto strategist de Poppe believes Bitcoin’s $41k support is crucial
Crypto markets analyst Michael van de Poppe has identified crucial $41k support for Bitcoin He theorised that Bitcoin going above $46k is a trigger for altcoins to start performing better Van de Poppe expects extended sideways action for Ethereum unless it breaks above $3,100 Crypto strategist Michael van de Poppe has reviewed how the crypto community should expect the market to shape up over the next few days. Bitcoin Speaking on the king cryptocurrency, Van de Poppe observed in a recent YouTube session that the coin is dancing around a crucial support level, which he says is likely to determine the direction Bitcoin could take in the short term. He pointed out that $41k was an important price level for Bitcoin, explaining that should support persist at this level, then Bitcoin could test...
New week kicks off with marginal dips in the crypto markets
Top crypto assets are down by between 2% and 5% over the last 24 hours. At the time of press, Bitcoin is holding $37,076, and Ethereum $2,544. Terra continues to lose significantly, declining 25% over the last week. The volatility that has plagued crypto markets in January continued into the last week of the month. Market swings sent the prices rocking with major crypto-asset tokens in the red into the start of the new week. Now having a market cap of $705.98 billion according to CoinMarketCap, Bitcoin has plunged 2.6% in the last 24 hours and is currently trading at $36,975. Though the world’s market-commanding digital asset resided north of $38k in bits over the weekend, it has remained inconsistent, and so has Ethereum’s native coin ETH. ETH is currently down 1.85% on the day, but ...
Fed’s latest meeting sends bearish wave – Here’s how top crypto coins stand a day later
The Federal Reserve Chairman confirmed that plans to hike interest rates are coming into play this March. Crypto markets, as well as stocks, reacted, with token prices plunging. At the time of writing, Bitcoin is down 3.15% and Ethereum 5.25%. Following a two-day Federal Open Market Committee (FOMC) meeting that concluded Wednesday, Federal Reserve Chair Jerome Powell issued a press conference to speak on the country’s plans in monetary policy. Powell said the Fed would halt asset purchases by March and also hold off on plans to hike interest rates till then. In the lead up to yesterday’s press conference, the markets were bullish and looked optimistic. Actually, minutes into the press conference, Bitcoin price ascended, clocking a $38,740 peak. However, half an hour into the b...
ADA sinks below $1.00 after market sell-off knocks off accrued gains
Cardano’s native token ADA is currently trading over 66% below its all-time high set five months ago The recent market slump that started during Friday’s morning session has taken a huge chunk out of the cryptocurrency sector’s circulating value. Bitcoin, Ethereum and Binance Coin down more than 5% on the day Bitcoin (BTC) plunged below $38k on Friday before seeing more dips and dropping below $35k. Down approximately 6.4% in the last 24 hours, it is now trading at $33,653.05 as per data from coinmarkecap. Ethereum (ETH) price, which broke above $3,200 on Thursday’s trading session, is down 27.54% over the last seven days. The second-largest crypto-asset sunk below the $2,400 critical level on Saturday, bottoming around $2,330. On the day, the token has lost 11.21% ...
How to pick or analyze altcoins?
What are altcoins? The word “altcoin” is derived from “alternative” and “coin.” Altcoins refer to all alternatives to Bitcoin. Altcoins are cryptocurrencies that share characteristics with Bitcoin (BTC). For example, Bitcoin and altcoins have a similar basic framework. Altcoins also function like peer-to-peer (P2P) systems and share code, much like Bitcoin. Of course, there are also marked differences between Bitcoin and altcoins. One such difference is the consensus mechanism used by these altcoins to validate transactions or produce blocks. While Bitcoin uses the proof-of-work (PoW) consensus mechanism, altcoins typically use proof-of-stake (PoS). There are different altcoin categories, and they can best be defined by their consensus mechanisms and unique functionalities. Here are the mo...
Best 5 Ways to Make Money in the Metaverse
Metaverse experiences such as Decentraland, The Sandbox and many others are evolving as venues for business, commerce, networking and marketing. While blockchain metaverses are quite new, tech-savvy entrepreneurs have started to run revenue-generating businesses in these virtual environments. Because these virtual environments allow users to own custody of their in-game assets via their crypto wallets, a vibrant economy of goods and services is emerging in the metaverse. This allows players to engage in activities that allow them to earn cryptocurrency, build brands, and trade with others—the possibilities are almost endless. Are you interested in making money in the metaverse? Read ahead for our guide that details several methods players use to earn cryptocurrency, start a business, and b...
Elon Musk Tweet causes Dogecoin Price to Soar
Image sourced from Hypebeast Elon Musk is making headlines after causing the price of Dogecoin to surge to an all-time high. On Sunday, the tech entrepreneur tweeted “Who let the Doge out”, resulting in a 53% rise over the last 24 hours. Dogecoin’s record value is now 8.2 cents with a market value of $10 billion – making it the 8th biggest cryptocurrency, according to Bloomberg. 🎶 Who let the Doge out 🎶 — Elon Musk (@elonmusk) February 7, 2021 Dogecoin was introduced in 2013 as a joke. Initially, founders Jackson Palmer and Billy Markus wanted to satirize the growth of altcoins by turning the doge internet meme into a cryptocurrency. /* custom css */ .tdi_3_667.td-a-rec-img{ text-align: left; }.tdi_3_667.td-a-rec-img img{ margin: 0 auto 0 0; } Their joke quickly grew in pop...
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