Following the September second and third-week sell-off, the Ethereum price plummeted to $1230 support. Moreover, this downfall hitting a low level such as 0.786 Fibonacci retracement level weakens the possibility of price recovery. Furthermore, the coin chart showed the formation of an inverted pennant pattern increased the probability of a… Read more
Will This Bearish Pattern Pull Ethereum Coin Price Below $1200?
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Bitcoin, after seven weeks of repeated failed attempts, finally managed to move past the $21,000 price threshold. According to tracking from Coingecko, at the time of this writing, the maiden crypto is trading at $21,392 after going up by 5% over the last 24 hours. In doing so, Bitcoin also managed to increase its total […]
The debate of which is the better investment between Bitcoin and Ethereum continues to wax strong between communities. This time around, it is being put to the test using MicroStrategy’s crypto investments over the years. Microstrategy is currently seeing a loss on the 130,000 BTC that it had purchased over the years, making it the public company with the largest bitcoin holdings. But what if the company had invested in Ethereum instead? Ethereum Is A Better Bet In the course of about two years, MicroStrategy had ramped up its BTC buying which ran into billions of dollars. At 130,000 BTC on its balance sheet, the company has spent approximately $4 billion to accumulate the coins. However, even with the coins being bought over time at varying prices, the company is still recording a more than $1 billion loss at the current price of bitcoin. Related Reading: Why Cardano (ADA) Could Be Gearing Up For A Rally Given that the company remains steadfast in its support and continuous investment in bitcoin, it begs the question of what would have been the case if the company had gone with another cryptocurrency. Specifically, bitcoin’s largest competitor Ethereum. It is no secret that more often than not, Ethereum has been outperforming bitcoin. So it is not a stretch to say that MicroStrategy would be in a better position if it had invested in Ethereum instead of bitcoin, and the numbers prove this to be true. ETH price remains below $1,600 | Source: ETHUSD on TradingView.com A comparison from Blockchain Center shows that MicroStrategy would be $1.47 billion in profit if it had bought ETH. Tracking the purchases that the company has made over the years, it would have 3,541,989 ETH now, worth $5.6 billion. Even at the peak of MicroStrategy’s BTC holdings, the comparison shows that ETH would still have performed way better. In December when MicroStrategy’s holdings were worth just under $8 billion, it would have been worth $16 billion with ETH. Additionally, if the company had invested in Ethereum and then proceeded to stake its ETH, it would have earned approximately $380 million since then. MicroStrategy would’ve done better investing in ETH | Source: Blockchain Center Even now, if the company were to convert all of its BTC holdings to ETH, it would come out to a total of 1,692,762 ETH. At a 4% APR rate, it would be earning an additional $134 million in annual revenue just from staking alone. Related Reading: Ethereum Must Hold $1,500 Or Risk A Decline To $1,300 The comparison puts the various profitability levels of both digital assets over the year. Ethereum has continued to outperform bitcoin both in the long and short term. It really begs the question of if Bitcoin is really the best crypto asset to invest in as ex-CEO of MicroStrategy Michael Saylor said. Featured image from Forkast News, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
Bitcoin and Crypto mass adoption is going to a new level, with international financial service providers like MoneyGram embracing it. MoneyGram is a global money transfer and financial service provider. It has both digital and retail locations around the globe, enabling consumers to pay bills and send money to friends and family at affordable rates. […]
In October 2022, the Ethereum price increased by nearly 20%, leading traders to forecast a potential ETH price target of $2K next. However, the overall macro bearish trend in the crypto markets has led some investors to seek new cryptocurrency assets. One of the most talked about cryptocurrencies in 2022 is IMPT – a sustainable […]
Der Beitrag Ethereum Price Prediction – Traders Say $2k, But This Coin is Greener erschien zuerst auf Crypto News Flash.
Hetzner has limited access to its serves for Solana validators asking them to delete all their activity tied to Solana. Considering Hetzner is the second largest host for Ethereum validators, the same risk applies to Ethereum node validators. In an interesting development, Hetzner, one of the biggest hosts on the Solana network has decided to […]
Der Beitrag 20% of Solana nodes are down, possible risk for 16.9% of Ethereum nodes – Report erschien zuerst auf Crypto News Flash.
Shiba Inu is slowly shedding its gains following the short-lived rally of the crypto market last October 25 as well as its Elon Musk/Dogecoin-inspired price increases. According to data from Coingecko, at the time of this writing, the DOGE spin-off crypto is changing hands at $0.00001217 and has been down by 2.3% over the last 24 hours. It is still enjoying a 12.7% increase for the past seven days and a 23.4% surge over the last two weeks but those numbers used to be higher during the last few days. On October 30, Shiba Inu peaked at $0.00001421 as it increased its market capitalization by almost $2 billion. Currently, the asset is sitting at an overall valuation of $7.177 billion – enough for it to rank 15th among all cryptocurrencies tracked by Coingecko. Related Reading: Rug Pull: 97% Of Crypto Projects On Uniswap Were Scams, Study Reveals Investors Losing Hope for an Immediate Shiba Inu Surge Investors, particularly the members of the CoinMarketCap crypto community, are leaning towards a bearish prediction for the meme dog-themed altcoin this November. According to the findings of Price Estimate tool that aggregated the result of a poll that included 5,133 voters, Shiba Inu is likely to end the month with a trading price of $0.00001093 which is almost 10% lower from the $0.00001209 SHIB price at the time when the voting was conducted. Meanwhile, as for the DeFi asset price towards the end of the year, the decline was slightly lower at 8.46% as it is expected to change hands at $0.00001107. On January 1 this year, SHIB price was at $0.000033. The altcoin, however, failed to sustain its momentum as it was caught in a bearish momentum that slashed more than 63% of its 2022 opening spot price. It only managed to break out of that slump towards the end of October when the crypto market rallied to reclaim the $1 trillion market cap territory and shortly after Elon Musk completed his $44 billion purchase of Twitter. Affected By Dogecoin Movement Over the last few months, Shiba Inu has shown its tendency to follow the directional trend of Dogecoin, which the same crypto community has also given bearish predictions. The dog-themed crypto has recently entered a price correction phase, losing 4.6% of its value over the last 24 hours. Its weekly gain – which stood at over 100% for the past few days – dropped to 80.8% following this recent price dump. As the two digital assets share the same trend almost all the time, Shiba Inu investors are also keeping close watch to Dogecoin to predict when it will move up or go down. Related Reading: Tron Performance Last Month Was Impressive, But Can TRX Do Better This November? SHIB total market cap at $6.6 billion on the daily chart | Featured image from Unsplash, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal understanding of the crypto market and should not be construed as investment advice.
Despite the current crypto winter, the real vision bot shares its latest crypto portfolio allocations. Two analysts predict a bearish November for Bitcoin and the crypto market. Amidst the current crypto winter, a trading robot with an excellent record for accurately predicting the crypto market has released its latest crypto portfolio allocations. The Real Vision […]
Der Beitrag Bot known for outperforming Bitcoin chooses Ethereum competitor for massive profits in a short time erschien zuerst auf Crypto News Flash.
Deribit, a leading cryptocurrency futures and exchange, becomes the first victim of crypto hackers for November 2022 as its hot wallet was drained of $28 million. The cyber attack affected the exchange’s Bitcoin, Ethereum and USDC hot wallets. The company, however, has already given its assurance to immediately compensate the losses with the use of […]
A few weeks back, the crypto market seemed to be dominated by derivatives for both Bitcoin and Ethereum. Additionally, during the past few months, the leverage in Ethereum (ELR) has increased to such high levels which are unheard of (The OI increases too). This showed investors & traders were taking an extra risk in their
The post Slump In Ethereum Derivatives Signal Strong Price Action In Short Term appeared first on CoinGape.
Rug pull is a new type of scam which is now a part of a long history of investment schemes that make investors lose a lot, if not all, of their money. Derived from the popular expression “pulling the rug out” happens when investors are enticed or attracted by developers to put resources (usually a […]
NFL legend Tom Brady recently launched a non-fungible token (NFT) company called Autograph. Today, the brand announced a new video podcast series hosted by one of the NBA’s hottest talents, the Indiana Pacers’ point guard Tyrese Haliburton. Related Reading: MakerDAO Co-Founder Found Dead Days After Eerie Tweets The NBA drafted the basketball player in 2020, […]
The inventor of Ethereum, Vitalik Buterin, weighed in on the debate around crypto regulations and offered his most “controversial” opinions. Across social media, this debate is gaining traction with the participation of prominent personalities in the crypto space. Related Reading: Bitcoin Can Protect Consumers From Existing Fed Hike Paranoia, R. Kiyosaki Says Vitalik Buterin classified […]
THETA, the 51st ranked cryptocurrency in terms of market capitalization according to online tracker Coingecko, is performing relatively well now as it stays on the green zone as far its short-term and long-term price monitoring is concerned. THETA is all green in the charts except for its year-to-date progress The altcoin is sitting on a 17.2% 14-day increase A test of the $1.2 resistance zone is likely to happen for THETA At press time, the asset is trading at $1.16 and is up by 1.5% over the last day. On a weekly and biweekly timeframe, the crypto increased by 16.8% and 17.2%, respectively. Moreover, the past 30 days also saw the altcoin go up by 5.9%. It is still enjoying some residual momentum from the rally that the crypto market did just few days ago but still has long ways to go if it hopes surpass or even to just get closer to its April 16, 2021 all-time high value of $15.72. Nonetheless, THETA is still one of the better performers of the crypto space right now but interested buyers must first consider knowing even just a little of its price analysis before making the decision to accumulate. Related Reading: Shiba Inu Facing Tough Hurdles For Weeks – How Could SHIB Overcome These? Diving Into THETA Price Action Over the last two months, the crypto market was filled with uncertainty and was also plagued by massive sell-off from different assets. THETA managed to buckle down despite all of these and in doing so had placed its price in a falling wedge pattern as it was bullish but was eventually headed to an immediate correction. Source: TradingView During the last five days, the altcoin’s charts were filled with green candles as it went up by 15% on the way to testing the $1.2 marker. Meanwhile, the asset’s Relative Strength Index (RSI) has entered the overbought zone, indicating the need to somehow put a stop to aggressive buying from traders in order to stabilize the price rally. Moreover, during the recent crypto market rally, THETA price increased rapidly and, owing to its current pattern, needs to undergo correction before resuming its recovery and eventual upward movement. Related Reading: Why Bitcoin (BTC) Could Not Surpass Litecoin (LTC) In This Key Area Price Forecast for the Crypto Asset As suggested earlier, the next few days will be painted in red for THETA as it is heading towards its impending price stabilization. According to Coincodex, over the next five days, the asset will slightly decline to trade at $1.15. The sharp correction will happen within the next 30 days as it is likely to plummet all the way down to $0.58. The token has 17 technical indicators that are giving off bearish signals and has settled in the Fear Region of the Fear and Greed Index. Investors and prospective buyers, however, must remember that if THETA stays true to the nature of its pattern, it will try to bounce back and make a rally of its own after its price dump. THETA market cap at $1.16 billion on the daily chart | Featured image from BlockchainReporter, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.
Do Kwon, now a fugitive wanted by South Korean prosecutors and the Interpol, has a new fire to put out as more than 300 investors from Singapore decided to file a class action lawsuit against the Terra Labs co-founder. The 357 capitalists from the Asian nation had no choice but to bring the fight to […]