Connect with us

Bitcoin

Euphoria is Back to Action! This is When Bitcoin Price Will Go Beyond ATH

Published

on

The broader cryptocurrency market has yet again encompassed a $2.5 trillion market cap with exorbitant gains. Bitcoin alone achieved 14.86% of profits over the last 7 days. The earlier bid for the asset at an All-time high was in May. As the equivalent drift is approaching for the asset over again, it may soon rise to new heights. 

Bitcoin Shines, Whale Game Fails!

Wu Blockchain, a popular crypto journalist, shared a Bitcoin price chart from Tradingview on 19th October 2021. He highlighted a major BTC/USDT trading volume spike that appeared on OKEx. Interestingly, the impact from the big sell order didn’t reflect on the chart. In his message thread, he added that the sell order was most likely eaten by the buying dominance in the space. 

Advertisement

Analyst underlined that a pending sell order of 14,000 BTC in BTC/USDT trading pair on OKEx. Besides, OKEx launched the card game Gods Unchained, which caused OKB’s price to soar by 24.61% in 24 hours. In response to his message thread, some even claimed that China is behind this whale game. However, the market was so bullish that whales’ attempt to dump Bitcoin seems to have gotten eaten up straightway as buyers jumped in immediately!

In another metrics revealed by Santiment, the total active addresses of the Bitcoin network yet again registered 1 million since its May market crash. Moreover, the 200-hour trendline has shown a steady rise in the number of addresses since mid-July. The analytical firm indicated that surging activity is followed by Bitcoin’s recent attempt to break previous ATH.  

 https://twitter.com/santimentfeed/status/1450519025398673410?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1450519025398673410%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcoinpedia.org%2Fbitcoin%2Fthis-is-when-bitcoin-price-will-go-beyond-ath%2F

Advertisement

Meanwhile, the interesting part is, prior to its bull run in the Q1 of 2021, the address activity of the network soared by 102% reaching 1.2 million by January 2020. As a similar trend is manifesting yet again, the compelling interest could uplift the Bitcoin price. 

Collectively, as the dominant asset is approaching new ATH, reports say over 95% of holders are in profit now! However, Bitcoin price is trading at $63,938 at the press time with 2.99% gains in the last 24-hours. The star crypto is on the verge of a crucial breakout and could soon take a leg up to higher highs. 

News Source

Advertisement

Bitcoin

Rich Dad Poor Dad Author Issues Dire Warning on Inflation, Says He’s Buying Bitcoin, Ethereum and Two Additional Assets

Published

on

Rich Dad Poor Dad author Robert Kiyosaki is concerned that working-class Americans will be wiped out by rising inflation unless they invest in several key assets.

In a YouTube video on The Rich Dad Channel, the widely known author says that true capitalism has been abandoned, and the government instead intervenes on behalf of banks.

“The reason they’re talking about inflation or deflation is because, way back when, in the 70s, a true capitalist would let a business fail. According to [Austrian political economist Joseph] Schumpeter, capitalism destroys inefficient companies.

Advertisement

If you look at one example, not too long ago there was Blockbuster Video. Then Netflix came along and they’re toast. They’re just gone. A true capitalist wipes out the inefficient or the obsolete.

But for the last so many years, since 1907 really, they’ve been saving the banks. The banks are so corrupt, and the reason the Federal Reserve had to come in was to protect the rich bankers.

And what they did was, back in 2008 there was quantitative easing, which is a very complex subject, but basically the Fed just prints money and gives it to banks to prevent them from failing. That’s not capitalism, that’s Marxism. That’s socialism, that’s communism. It’s called central banks.”

Advertisement

Kiyosaki warns that unlimited money printing as part of official government policy will eliminate the working class.

“The reason inflation is going to wipe out people is because the average person is a consumer. Everybody talks about, ‘T-bone steak [costs] this now, and gasoline’s this and toilet paper is that.’

That’s because… Everything’s to protect the bankers. And that’s why I feel for the working-class people. I think it’s criminal that our school system is part of Marxism. There’s no financial education in the schools and it’s not a mistake.

Advertisement

To the people who are complaining about inflation, just know it’s because the Federal Reserve Bank, the U.S. Treasury… they’re as corrupt as they come.”

The author tells his 1.8 million followers on Twitter that the recent 25% price increase at discount retail chain Dollar General is a bellwether event signaling that investors should protect themselves by picking up some cryptos like Bitcoin (BTC) and Ethereum (ETH), as well as gold and silver.

“Dollar Tree becomes $1.25 Tree. Inflation is a tax on the poor and middle class. Inflation makes the rich richer.

Advertisement

Get smart. Get richer. I am buying more gold, silver, Bitcoin, Ethereum, rental real estate, and oil. What are you buying?”

CNN Business reported this week that Dollar Tree cited rising inflation and the ongoing supply chain crisis as reasons why it planned to permanently abandon its longstanding $1 price point on all products.

At time of writing, Bitcoin is valued at $55,190, Ethereum is exchanging hands for $4,367, gold is going for $1,781, and silver is worth $22.44. Kiyosaki also issued a warning in September that a major stock market crash would occur in October of this year.

Advertisement

News Source

Continue Reading

Bitcoin

Top 3 Price Prediction Bitcoin, Ethereum, XRP: Crypto markets may hit the brakes

Published

on

  • Bitcoin price congestion and indecision continue, but opportunities on both sides develop.
  • Ethereum price fails a bullish breakout above its bear flag, threatening continuation moves south.
  • XRP price is positioned at a make-or-break point, hovering above final support that could thrust Ripple below $0.80

Bitcoin price remains inside the Cloud within the Ichimoku Kinko Hyo system, indicating continued volatility and uncertainty. Ethereum price failed to close above the bear flag on Tuesday, but the bullish structure remains. XRP price barely holding support, could drop lower.

Bitcoin price develops opportunities on its Point and Figure charts

Bitcoin price remains stuck inside the Cloud on the daily Ichimoku chart, providing little opportunity or guidance when viewed from that chart style. However, Point and Figure charting reduces the ‘noise’ associated with Japanese candlestick charts and focuses only on price action, giving a clearer picture of Bitcoin’s behavior and what kind of trading opportunities exist.

A theoretical long trade setup exists with a buy stop order at $60,000, a stop loss at $58,000, and a profit target at $66,000. This hypothetical entry is exceptionally bullish for two reasons. First, the entry is a breakout above a triple-top, and second, the entry confirms a powerful bullish reversal pattern in Point and Figure known as a Bearish Fakeout.

BTC/USD $500/3-box Reversal Point and Figure Chart

The theoretical long idea is invalidated if the current O-column moves below $55,000.

Advertisement

On the short side of the trade, a hypothetical short idea is a sell stop order at $53,000, a stop loss at $56,000 and a profit target at $44,000. The entry confirms one of the most sought-after short entry patterns in Point and Figure, a Bearish Catapult. In addition, a trailing stop of one to two boxes to protect any implied profits would help mitigate any whipsaws in price action that may occur.

BTC/USD $1,000/3-box Reversal Point and Figure Chart

The hypothetical short setup is invalidated if the long idea above is triggered.

News Source

Advertisement
Continue Reading

Bitcoin

Mercado Pago: it will not be possible to transfer Bitcoin purchased on the platform

Published

on

Mercado Pago announced the launch of a service that will allow Brazilians to buy, reserve and sell cryptocurrencies.

As announced by the payments arm of Mercado Livre, this is an initiative in partnership with Paxos.

The collaboration will allow integration with the Mercado Pago account and the management of operations, with blockchain technology.

Advertisement

Thus, without leaving the app, users will be able to track the price, as well as buy and sell Bitcoin, Ethereum and USDP; stablecoin from Paxos.

“This is an important milestone for Mercado Pago, which continues its trajectory by democratizing and massifying operations with cryptocurrencies. From the account, we want to accompany our users as they enter the crypto paradigm, which is gaining more and more relevance in the financial world. Based on the experience of quick and secure use of our platform, we will offer simplified access to these assets”, says Osvaldo Giménez, CEO of Mercado Pago.

Transactions with Bitcoin, Ethereum and USDP can be carried out with money available in the Mercado Pago account. The minimum purchase price is R$1.

Advertisement

However, at this first moment, users who buy cryptocurrencies will not be able to transfer them to external wallets.

Cryptocurrencies in the Paid Market

According to Tulio Oliveira, vice president of Mercado Pago in Brazil, with this first step towards the crypto universe, the company wants to contribute to a great leap in education and financial inclusion of the Brazilian population.

“We will monitor our users closely. Let’s help them improve their cryptocurrency trading experience. In addition, we will offer all educational support for them to make the best decisions”, he said.

Advertisement

Walter Hessert, head of Strategy at Paxos, said that this is a transformative moment for Latin America.

“Mercado Pago is offering a perfect experience in crypto and stablecoins, reaching millions of Brazilians. This will accelerate the conventional adoption of cryptocurrencies and stablecoins across the continent. We are excited to partner with Mercado Pago to make this possible”, he concluded.

Also Read: Adidas’ First Metaverse Partnership Includes NFTs

Advertisement

Also read: Meta reviews policy and enables cryptocurrency ads on Facebook and Instagram

Also read: After quitting Twitter, Jack Dorsey changes Square’s name to Block

News Source

Advertisement
Continue Reading