Bitcoin Reclaims $19,500 As Dollars Plummets, Will BTC See More Upside?

Bitcoin has displayed some strength during today’s trading session after re-visiting the bottom of an important trendline. The benchmark crypto has been trading in a tight range, between $18,600 and $19,500, but the monthly close might support a spike in volatility as bulls and bears fight for this candle.

At the time of writing, Bitcoin (BTC) trades at $19,400 with a 2% profit in the last 24 hours and 7 days. Other cryptocurrencies seem to be the following Bitcoin as they record small profits on low timeframes. The benchmark crypto might be preparing for further gains.

BTC’s price with minor gains on the 4-hour chart. Source: BTCUSDT Tradingview
Bitcoin Sets The Stage For More Profits?

In addition to the monthly close, Bitcoin’s recent price action seems to be supported by a crash in the U.S. Dollar. The currency was able to reach levels last seen in the early 2000s, as it touched 115 on the DXY Index, but it was rejected from these levels.

At the time of writing, the DXY Index trades at 112 and might return to its early September lows much southern. The DXY Index’s rally has been one of the main obstacles capping the upside in Bitcoin and other risk-on assets, such as equities.

In that sense, a revisit of the September lows might allow the crypto market to extend its current bullish price action over the coming weeks. According to analyst Justin Bennett, the DXY Index price action might support a Bitcoin rally back to $26,000.

The cryptocurrency might reach this level before the next U.S. Federal Reserve Federal Open Market Committee (FOMC) meeting. As seen in the chart below, Bennett claims that Bitcoin has been trading in a channel with a bottom at around $18,700 and a top at $27,000.

With U.S. dollars trading to the downside, Bitcoin might be able to reclaim the high of this channel. The analyst wrote: “As long as $18,700 holds, this is my Bitcoin playbook through October”.

BTC moving away from the bottom of this channel, how far will it rally? Source: Justin Bennett via Twitter
Bitcoin On A Lighter “Bear Market”?

Additional data from a pseudonym analyst indicates that Bitcoin might be in a lighter downside price action. The analyst looked into BTC’s price previous drawdown from its all-time highs (ATH) and discovered that the cryptocurrency is only 74% from those levels.

In the 2013 and 2017 bear markets, Bitcoin crashed 84% from its previous all-time high and in 2011, 93%. This could suggest BTC bear market is getting weaker or that the cryptocurrency might see another leg down.

In addition, the analyst discovered that Bitcoin has spent 316 days away from its all-time high. In previous years, the cryptocurrency is able to find a bottom on an average of 312 days after crashing from its ATH. In that sense, the analyst concluded:

The duration of 316 days in current bearmarket so far is between 2011 and 2013 + 2017. Either, we bottom soon-ish or this time is different. The average duration from top-to-bottom is very interesting as well. The average is 312 days, which is where #Bitcoin is right now.

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2022: The Year Extreme Fear Took Over The Crypto Market

The year 2022 so far has seen the crypto market spend most of its time in the fear territory, with a large chunk of it being especially deep into extreme fear.

Crypto Fear And Greed Index Continues To Point At “Extreme Fear”

According to the latest weekly report from Arcane Research, the market has continued to be fearful without any breaks for 178 days now.

The “fear and greed index” is an indicator that tells us about the general sentiment among investors in the crypto sector.

The metric uses a numeric scale that runs from zero to hundred for representing this sentiment. All values above 50 signify that investors are greedy right now, while those below the threshold suggest a fearful market.

Values of more than 75 and less than 25 towards the ends of the range imply sentiments of “extreme greed” and “extreme fear,” respectively.

Now, here is a chart that shows the trend in the crypto fear and greed index over the past year:

The value of the metric remains quite low | Source: Arcane Research’s The Weekly Update – Week 38, 2022

As you can see in the above graph, the crypto fear and greed index has continued to be at a low value in recent weeks.

The current value of the indicator is 20, which means the market sentiment is that of extreme fear at the moment.

In total, the investors have been fearful for 178 consecutive days now, the longest streak since the metric was created back in 2018.

For a great chunk of this time, the crypto market has actually had an extremely fearful sentiment. Prior to the relief rally in prices of coins like Bitcoin back during August, the sector saw a record extreme fear run.

Overall during the year 2022, the indicator has spent very few days in the greed territory. Extreme fear has taken over the market for much of the time, and when there hasn’t been bottom sentiment, there has still been fear looming around the investors’ minds.

Historically, the relevance of extreme fear territory has been that cryptos like Bitcoin have generally observed bottoms during stretches of such deep sentiment.

The report notes that while accumulating in these periods can be a good strategy, investors should be aware that the fearful sentiment can go on for much longer still.

BTC Price

At the time of writing, Bitcoin’s price floats around $19k, down 1% in the past week.

Looks like the value of the crypto has already come down from the surge a couple of days ago | Source: BTCUSD on TradingView
Featured image from Natarajan sethuramalingam on Unsplash.com, charts from TradingView.com, Arcane Research

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Chainlink Price Struggles To Break Above, Can Price Hit 10?

LINK price holds strong above 50 EMA on daily timeframe with a string. 
LINK rallies as price eyes $10 ahead of its announcement of staking. 
The price faces resistance at $9 in the weekly timeframe. 

Chainlink (LINK) price showed bullish strength recently, but the price has struggled to break above key resistance against tether (USDT). With its intending staking in December 2022, there is high hope of a major rally for the price of Chainlink (LINK). Despite the uncertainty, the price of LINK has looked decent, holding up pretty well as other altcoins drop significantly in price and value. (Data from Binance)

Chainlink (LINK) Price Analysis On The Weekly Chart 

Chainlink Co-Founder Sergey Nazarov announces Staking Plans, Aims to Be Web3’s AWS, ahead of its scheduled plan to launch staking in December and a new economic model for the Web3 services platform at SmartCon 2022.

The price of LINK has recently bounced from a low of $6.5 in the weekly timeframe rallying to a high of $8 before rejecting to a region of $7, where the price has formed good support for price sell-off on the weekly timeframe.

LINK price moved from that region breaking higher to $8.5, where the price is currently facing resistance to breaking higher to a region of $10.

The price of LINK needs to break the $9 resistance with good volume for the price to have an opportunity to trend to a higher region; if the price of LINK is rejected, we would expect the price to retest the support area of $7 where demand for the price of LINK has been created.

Weekly resistance for the price of LINK – $9.

Weekly support for the price of LINK – $7.

Price Analysis Of LINK On The Daily (1D) Chart
Daily LINK Price Chart | Source: LINKUSDT On Tradingview.com

In the daily timeframe, the price of LINK continued to show strength as the price faced rejection in an attempt to break $8.5, with the price holding strong and continuing to maintain its bullish structure. 

If the price of LINK continues to hold and maintain this structure it has formed on the daily timeframe, we could expect the price of LINK to break above $8.5 to a region of $9.

The price of LINK trades at $7.9 above the 50 Exponential Moving Average (EMA) but below the 200 EMA. The 50 EMA acts as a support while the 200 EMA acts as resistance to the price of LINK. The price of $7.5 and $9.8 corresponds to the price of 50 and 200 EMA, respectively, on the daily timeframe for LINK price.

A break and close below $7.5 could see the price of LINK retest lower regions as this invalidates the bullish setup.

Daily resistance for the LINK price – $9.8.

Daily support for the LINK price – $7.5.

Featured Image From CoinCulture, Charts From Tradingview

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Bitcoin & The Global Currency Meltdown | BTCUSD September 28, 2022

In this episode of NewsBTC’s daily technical analysis videos, we examine how Bitcoin is trading against other currency pairs and not USD. We also look at BTC against WTI Crude Oil and the S&P 500.

Take a look at the video below:

VIDEO: Bitcoin Price Analysis (BTCUSD): September 28, 2022

The market continues to be shaken up by the strength of the dollar. Following yesterday’s rally in BTC that was immediately wiped out, traders are even more hesitant to pull the trigger with the top cryptocurrency rising again.

Bitcoin Daily Momentum Change Causes Chain Reaction

Bitcoin daily has flipped bullish on the LMACD, setting off a chain reaction across a variety of timeframes. In terms of this chain reaction, we have a bullish crossover on the 3-day and the weekly timeframe. Both, especially the weekly, have been like bait, snapping back at bulls each time they attempt to turn the tides of momentum.

 

Momentum causes a bullish chain reaction of crossovers | Source: BTCUSD on TradingView.com
How BTC Fares Against Other World Currencies

The DXY Dollar Currency Index is the dollar trading against a weighted basket of top national currencies. These currencies include the British pound sterling, the euro, the Canadian dollar, Japanese yen, Swedish krona, and Swiss franc.

Due to the enormous shakeup and volatility in global currency markets, we put Bitcoin up against other currencies and not the standard USD pair.

As you can see, the pound, euro, canadian dollar, and Japanese yen all crossed bullish weeks prior, while the USD pair struggles to do so. Other strong national currencies like the Swedish krona and Swiss franc have yet to cross over much like the dollar. 

Bitcoin could be bottoming against several top currencies | Source: BTCUSD on TradingView.com

Related Reading: Bitcoin Shows Resilience In Dollar-Driven Bloodbath | BTCUSD September 26, 2022

Comparing The Top Crypto To The S&P 500 And WTI Crude Oil

Continuing the deep dive into unorthodox Bitcoin charts, we’ve combined the charts of BTCUSD and the SPX. This unique chart shows that Bitcoin never made a higher high in late 2021, and the downtrend began with the April peak. This chart also is flipping bullish and has a weekly close confirming the crossover.  Bullish momentum will need to grow to sustain a rally.

Next, we’ve compared Bitcoin to what could be the most important macro asset globally: oil. In this comparison, much like the SPX example, we put BTCUSD up against WTI Crude Oil. WTI Crude oil is American produced oil from West Texas Intermediate. 

In this oddball trading pair, Bitcoin also had a lower high and a much steeper downtrend. However, Bitcoin flipped bullish against oil several weeks ago, but has yet to produce a meaningful upside move. Is such a move coming soon enough?

Bitcoin has crossed bullish against the SPX and WTI Crude Oil | Source: BTCUSD on TradingView.com

Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program.

Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice.

Featured image from iStockPhoto, Charts from TradingView.com

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Top 20 Crypto Platforms You Were Desperately Searching For

It’s no secret that the crypto market in 2022 can be a minefield. One wrong step, and you lose. But hey, we all know that investing is risky and losses are a normal part of trading. So no need to frown! We’ve got some good news! With a reliable platform to help you get started, you can minimise risks.

But how can you choose a trustworthy platform among all the scam platforms, illicit apps, and other unsavoury traps waiting to lure in new traders? Well, we’ve got you covered! It’s the tight stronghold of dedicated apps, brokers, and exchanges we’re about to let you in.

Here are 20 reliable platforms you can potentially use to revolutionise your crypto trading journey. By the end of this article, you’ll gain the knowledge needed to successfully navigate the wild world of crypto and safely choose a crypto platform that has your best interests in mind.

Remember, however, that the world of cryptocurrency trading is highly speculative and inherently volatile. Thus, always do your research, never invest more than you can afford to use, and consult a licensed professional to help you reduce financial risks.

Now, let’s begin!

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Coinbase

Even if you are a newbie, perhaps you’ve already heard of Coinbase. Coinbase is, without a doubt, one of the biggest cryptocurrency trading platforms across the globe. Known for being highly beginner-friendly with a wide range of innovative features, Coinbase is a popular platform used by new and experienced crypto investors.

Some of its top features include crypto rewards, a Coinbase debit card, and its extensive crypto selection. Oh, and let’s not forget about the increasingly popular Coinbase Earn system that allows users to earn crypto by watching information videos and taking quizzes. Not bad at all, right?

Binance

There is no doubt that Binance, initially founded in 2017, is now one of the largest trading platforms. Binance has a huge customer base and its own cryptocurrency, BNB. In fact, its native coin is a strong crypto asset with an impressive price history. At the time of writing, BNB is among the top 10 cryptos on CoinMarketCap.

Some of Binance’s most popular features range from dramatically low fees to the enormous array of cryptocurrencies. The platform boasts a staggering portfolio of 600 crypto assets to invest in worldwide, and the fees for using Binance are some of the lowest on the market. How cool is that?

Kraken

Next on our list is Kraken. No, not the sea monster Kraken popularised by the iconic film Pirates of the Caribbean. We are talking about Kraken – a trading monster that can help you ride the tidal waves of the crypto world, one of the original players on the frontline of crypto and blockchain technology. Kraken, founded in 2011, was, in fact, one of the first crypto exchanges featured on Bloomberg Terminal. As of September 2022, it is worth an eye-watering $11 billion!

With its strong security protocols that work hard to keep traders and their investments safe, low fees, and a wide array of options, no wonder why Kraken has millions of members worldwide.

eToro

Based on in-depth analysis and user reviews, eToro is definitely one of the platforms worth considering. Some rank eToro as the best broker for social trading for 2022. With a community of over 20 million users, there is no doubt that eToro is rocking the crypto scene.

The platform is also highly beginner-friendly, comes with low fees, and offers high protection. Just like many of the platforms on our list, eToro allows traders to invest in numerous assets, including stocks, indices, and more. All these features are just a click away!

Crypto.com

Crypto.com is one of the fastest-growing exchanges globally. As stated on their website, the platform offers deep liquidity, low fees and the best execution prices. The best part is that you can start trading from your smartphone. The crypto app comes with impressive functionalities and UX.

With more and more services moving online, satisfactory digital services become the key to success, and Crypto.com knows how to open doors to new opportunities with this key. The platform also offers numerous perks, such as crypto rewards, a Crypto.com card, and over 250+ digital assets to invest in. So if you are an enthusiast who prefers to start trading from the comfort of your home, then Crypto.com might be just the right platform for you.

Gemini

Gemini, founded by two of the most famous Bitcoin billionaires – the Winklevoss brothers, is a popular regulated cryptocurrency exchange, wallet, and custodian. Though compared to other platforms, fees might be a bit higher, Gemini is considered the crypto exchange with the best security.

Offering high safety, Gemini empowers customers to access Bitcoin, which for the Winklevoss brothers is one of the best investments of our century. As Tyler Winklevoss said, “Bitcoin was the first internet money in the world. Then when you realise that money is the greatest social network of all, Bitcoin is maybe the greatest social network of all also.”

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KuCoin

KuCoin is another platform that deserves a spot on our list. KuCoin is a secure cryptocurrency exchange that offers users a variety of assets. As stated on Investopedia, “KuCoin offers a huge selection of cryptocurrencies and relatively low fees compared to other crypto exchanges. It also supports staking and margin, futures, and P2P trading, which may appeal to more experienced users.”

Though it might be complex for complete beginners, no need to worry – customer support is available. As a result, KuCoin has a strong user base. In fact, figures show that 1 in 4 crypto holders has tried KuCoin. You can easily become a KuCoin member as well!

Bitcoin Profit

The iconic platform Bitcoin Profit has earned a solid reputation for saving its users time, money and stress by pairing them with a crypto broker (suited to their experience level, needs, and interests).

Bitcoin Profit offers new investors the chance to invest in an enormous range of cryptocurrencies safely, simply, and securely. Its sign-up process is widely regarded as one of the fastest and easiest in the crypto market, and many users attest to its incredible range of trading tools. But that’s not all! People love that a dedicated account manager is on hand to walk you through every step of the way! How cool is that?

Robinhood

Just like Robin Hood who is a saviour of the poor and oppressed, Robinhood can help us, the common folk, access the potentially lucrative world of investing and employ tools reserved for the rich until recently.

Robinhood is a well-known financial services company that makes crypto investing simple. It facilitates the buying and selling of different assets. One of the best advantages is its beginner-friendly app. 100% accessible!

TradeStation

Next is TradeStation – another popular platform that can help you access real-time market data and a variety of assets, including cryptocurrencies. Many users consider it safe as it’s transparent about its financials and it has a long track record of success.

The company doesn’t rest on its laurels, though. To answer today’s consumer needs, it keeps innovating along with the market and adding new assets to the mix.

Bisq

Bisq deserves a special spot on our list. Why? Because this open-source desktop app is a decentralised exchange (DEX) network, which means that users can trade directly without any intermediaries and enjoy high liquidity.

While DEXs might be more complicated for beginners as there are no brokers, for example, to help execute trades, DEXs ensure fast transactions, easy access, and low fees. Among all the growing in popularity DEXs, Bisq is one of the most trusted ones as it helps users buy and sell crypto securely.

BlockFi

BlockFi is a popular crypto lender and an easy-to-access crypto trading platform. Let’s not forget that the company grew from an ambitious start-up to a crypto giant pretty fast.

Here we should note, however, that BlockFi has had its ups and downs (including legal issues), and it may be acquired by FTX soon. So what does the future hold? Simply stay tuned with the latest news!

FTX

Talking about FTX, we should admit that the company is undoubtedly a fast-growing exchange with ambitious plans. It offers numerous advanced tools, such as margin and futures trading and market-leading liquidity.

But don’t worry, newbie! FTX is also ideal for beginners and comes with low fees. If that sounds appealing, don’t hesitate to give it a go! Just remember to consult a licensed professional if you are a complete beginner and invest only money you can afford to lose.

Webull

With headquarters in New York, Webull is a great brokerage platform to help you buy and sell crypto and access your funds from anywhere in the world. From BTC to DOGE, you pick!

Given its low costs and multiple options, Webull is ideal for both beginners and experts. “Everyone gets smart tools for smart investing,” as stated on their website.

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BitAlpha AI

BitAlpha AI is another popular trading platform that has formed partnerships with some of the best brokers worldwide. BitAlpha AI provides an easy gateway for new investors to get involved in crypto safely and conveniently. The brand is compatible with most devices, meaning you can take your crypto journey wherever you go and stay up to date with your progress whilst on the move.

Using a unique algorithm, it pairs its users up with perfectly suited brokerage services based on pre-defined requirements. Overall, it can save you countless time, stress, and energy. It’s easy to sign up for and suitable for almost every kind of trader. The best part is that most brokers offer demo trading that allows new users to use practice funds before diving into the market properly.

Huobi Global

Now let’s look at Huobi Global. Huobi Global is one of the leading crypto exchanges across the globe and one of the biggest platforms in terms of trading volume.

If you decide to use Huobi Global, then you have the chance to explore different assets, including stablecoins. Let’s not forget that stablecoins – cryptos where the value is pegged to another asset (for example, USD) – are ideal for those who want to invest in crypto but do not want to subject their investments to high volatility.

SushiSwap

SushiSwap is one of the most popular and trusted DEXs. Users can swap any crypto for another. No wonder why there are so many Sushi chefs, aka users. The platform has expanded its services even into lending (via the Kashi app).

Here we should note that many consider SushiSwap a Uniswap clone. Uniswap was proposed by genius Vitalik Buterin and implemented in 2018, which led to the launch of many other DEXs, including SushiSwap.

Cash App

Easy cash in never guaranteed in trading. Yet, the investment sector is exciting – and Cash App is one of the platforms that make the whole trading journey enjoyable. Cash App is a popular financial services platform and a mobile payment service that allows you to trade Bitcoin and other digital currencies. Given its unique mobile features and accessibility, there is no doubt that Cash App is gaining popularity worldwide.

Interestingly enough, some of Cash App’s major competitors are giants like PayPal, Venmo, and Google Pay.

BitMart

And now it’s time to introduce BitMart – one of the best cryptocurrency trading platforms with real-time trading solutions and market data.

With over 1,000 crypts and users across 180 countries, there is no doubt BitMart is one of the most trusted platforms for altcoins trading.

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MetaMask

Last but not least, let’s talk about MetaMask. While MetaMask is not a trading platform but a wallet, it deserves a place here. Why? Simply because it is favourite crypto solution that facilitates crypto trading!

MetaMask allows you to buy and send crypto from within your wallet, collect NFTs across blockchains and operate dApps. You can easily open an account on one of the exchanges mentioned above, such as Binance and Coinbase, download MetaMask and start buying and selling ETH or other tokens. Would you miss out?

To Sum Up

To conclude this guide to the top 20 crypto trading solutions: it is important to go with a platform with a reputation for enhanced security, reliability, and ease of use. Most of all, you should first decide what suits your needs the best: a brokerage service like Webull, a centralised exchange like Gemini, a DEX like SushiSwap or a platform like BitAlpha AI that can help you with your search and connect you with a reputable partner. And of course, do not forget to explore different  mobile features and storage options like MetaMask. The sector is immense, after all!

In the end, crypto investing has a lot of potential and is an important part of any financial portfolio, so ensure you do it correctly with a reliable cryptocurrency platform. The good thing is that most platforms offer a variety of assets besides crypto; you can access forex, commodities, stocks, and more. Just make sure that the platform of your choice is regulated in your country, as some of the brands on our list may have geographical limitations. Always do your own diligence, and remember that trading remains risky!

Image: Pixabay

 

 

 

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BIS Announces Successful Completion Of CBDC For Cross-border Transactions

The world is gradually heading towards a cashless society such as CBDC making cash payments obsolete. When this happens, fiat currencies might no more be in use. So central banks are aggressively launching Central Bank Digital Currencies for easy virtual transactions.

Many countries are either in the process of developing their Central Bank Digital Currency (CBDC) or have already done so.

Moving forward for CBDC adoption in cross-border payments, the Bank of International Settlements (BIS) started testing a multi-jurisdictional CBDC one month ago. The BIS has announced the successful completion of the pilot for the multi-jurisdictional central bank digital currency.

The test lasted five weeks with $12 million worth of real-value transactions, facilitating over 160 cross-border payments. In addition, during the pilot, foreign exchange transactions worth over $22 million occurred between 20 participating commercial banks.

Along with the 20 commercial banks, the central banks of China, Hong Kong, Thailand, and UAE also participated in the pilot. This news was shared via a LinkedIn post on Tuesday by Daniel Eidan, an Advisor and Solutions Architect at the Bank of International Settlement.

Fully Functional CBDC Platform To Emerge

The news attracted a lot of comments from financial experts. Maciej Janusz, an eCommerce Business Development executive, asked if the pilot explored commercial aspects of cross-border payments.

Daniel Eidan responded that the pilot explored wholesome CBDC cross-border payments but would likely consider the commercial part in the future.

Eiden further revealed the BIS would release a detailed report in October. The pilot was conducted on the mBridge platform. The mBridge  project (multi CBDC Bridge) was part of Inthanon-LionRock, a distributed ledger tech CBDC cross-border payment project. It initially involved only Thailand and Hong Kong Central banks and was launched in September 2019.

The first pilot study is the first stage in developing the multi-jurisdiction CBDC. The project will proceed to the third and last stage before a minimum version of the CBDC product enters the market.

A BIS report in September 2021 states that a fully developed cross-border payment CBDC platform would emerge after revisions. During the revisions, BIS would evaluate feedback from released minimum versions and consider suggestions.

CBDCs Gain Global Adoption

A June 2022 report showed that about 90% of the world’s central banks are considering the adoption of CBDCs. According to the Atlantic Council, 11 countries have launched CBDCs 15 are in the pilot phase, while 26 are in the development phase.

Atlantic Council’s analysis also revealed that 46 CBDCs are in the research phase, ten are active, and two got canceled.

In September 2021, IMF released an article on its website about enhancing digital and global infrastructures in cross-border payments. The IMF thoroughly discussed opportunities, risks, and challenges associated with cross-border payments in the article. It also discussed frameworks that should be in place for sustainable cross-border payments.

Cryptocurrency market trades upward | Source: Crypto Total Market Cap on TradingView.com

In the article, IMF recommended anti-money laundering laws and regulations of virtual assets service providers, stablecoins, and CBDCs for cross-border payments.

Featured image: Pixabay and chart from TradingView.com

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The Benefits of Cryptocurrency Network Marketing: A Smart Way to Make Money

Cryptocurrency network marketing is a process of referral marketing where an individual is rewarded for bringing new customers to a business. This type of marketing has been around for many years, but it has only recently been adapted to the cryptocurrency industry.

There are many benefits to cryptocurrency network marketing, including the ability to make money without having to invest any money upfront. Additionally, this type of marketing allows you to get involved with an industry that is growing very rapidly.

If you are looking for a way to make money that does not require a lot of risk or investment, then cryptocurrency network marketing may be the perfect opportunity for you.

How do cryptocurrency networks work?

Cryptocurrency networks are decentralized, which means they aren’t subject to government or financial institution control. Transactions are instead verified by a network of computers, called nodes, that all have a copy of the cryptocurrency’s transaction history.

When someone wants to make a transaction using tron, for instance, they broadcast it to the network. Nodes then verify the transaction – usually through a process called mining – and add it to the blockchain. The blockchain is a public ledger of all cryptocurrency transactions that have ever been made.

Once a transaction is added to the blockchain, it cannot be changed or removed. This makes cryptocurrencies incredibly secure, as there is no central point of control that could be hacked or corrupted. It also means that transactions cannot be reversed, which can be helpful in preventing fraud.

The benefits of cryptocurrency networks for businesses

Cryptocurrency networks provide a number of benefits for businesses, including the ability to send and receive payments quickly and securely, as well as the ability to track transactions. Cryptocurrency networks also offer businesses the ability to create their own tokens, which can be used to raise funds or reward customers for their loyalty.

What are the main advantages of cryptocurrency networks?

Cryptocurrency networks offer a number of advantages over traditional banking and payment systems, including improved security, lower costs, and faster transaction times.

Cryptocurrency networks are powered by blockchain technology, which is a shared public ledger that records all transactions. Blockchain technology is highly secure and provides a tamper-proof record of all transactions.

Cryptocurrencies offer a number of advantages over traditional fiat currencies, including improved security, lower costs, and faster transaction times. Cryptocurrencies are also more resistant to inflation than fiat currencies.

What are some common mistakes made in cryptocurrency network marketing?

One of the most common is not doing your research. It is important to understand the technology behind the coin or token that you are promoting. Without this understanding, it will be difficult to sell the benefits of the coin or token to others.

Another mistake that is often made is not having a solid plan. A lot of people get involved in cryptocurrency network marketing without having a clear idea of what they want to achieve. This can lead to frustration and eventually quitting altogether.

It is also important to build a strong team. A lot of people try to do everything on their own, but this is not sustainable in the long run.

Finally, one of the most common mistakes is not staying disciplined. Cryptocurrency network marketing can be very time-consuming and it is easy to get sidetracked.

What are some tips for success with cryptocurrency network marketing?

There are a few key things to keep in mind when you’re involved in cryptocurrency network marketing. First and foremost, it’s important to be transparent about your intentions. If you’re looking to make a quick buck, people will see right through you and you won’t be successful.

It’s also important to be patient. Cryptocurrency is still a relatively new industry and it can take time to build up a solid network of contacts. Don’t give up if you don’t see results immediately – keep plugging away and eventually, you’ll find the success you’re looking for.

Finally, always be professional. This industry is full of scams and unscrupulous people, so it’s important that you conduct yourself in a professional manner at all times. If you do that, you’ll be successful in cryptocurrency network marketing.

Cryptocurrency network marketing is an interesting way to make money, and it has some definite benefits.

 

Image: Pexels

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Is Short Bitcoin ETF Exposure Gearing Up For A Squeeze?

Bitcoin’s short exposure has been gaining favor from both retail and institutional investors over the last couple of months. For most, this position in the digital asset has paid off, given its continued decline over this time. Even then, investors have not eased up in their exposure to this investment vehicle. The total assets under management for short bitcoin ETF are on the rise, sparking speculations of a potential short squeeze.

Investors Increase Exposure

When the ProShares Short Bitcoin ETF first debuted earlier in 2022, it came out with a lot of support from investors. These investors were already used to longing bitcoin through the offered ETFs but had finally gotten the ability to short the digital asset in a bear market. It was one of the largest crypto ETF launches, reaching more than 3,000 BTC in exposure in less than a month.

Since then, there has been a somewhat steady increase in exposure to this ETF. By the end of August 2022, it had touched a new all-time high of 5,335 BTC. This followed the decline of the price of BTC below $19,000, creating a trend of increased exposure each time the price dipped.

 

This trend has also continued into the month of September, which has been a brutal month for the digital asset. The Short BTC ETF exposure had declined at the start of September as investors took profit, but it had begun to grow once more, nearing all-time high values.

ProShares’ BITI touches 5,270 BTC in exposure on September 23rd, the 3rd-largest so far since launch. This increase had, once again, coincided with the drop in the price of bitcoin to the low $18,000s before staging a recovery.

Bitcoin Short Squeeze Coming?

The increased exposure to short bitcoin ETFs could very well be leading to another short squeeze. Investors had already begun taking profits from their position, leading to more than $5 million in outflows last week, but they continue to hold strong in shorting the digital asset.

Now, investors putting in more money during local bottoms could mean that they were trading in a bad way, but it is also important to note that the market has continued to trend lower with each recent dip. This has also had an impact on spot trading as there is less buying and more selling going on.

BTC price recovers above $19,000 | Source: BTCUSD on TradingView.com

If the demand for short BTC continues to rise and reach a new high, a resulting short squeeze could see the price of bitcoin plunge to $17,000 once more. A slight change in the current investing trend, which is more money flowing into the short BTC ETF even when the price of bitcoin is in recovery, can easily lead to this. 

Bitcoin’s price is still showing a weak recovery, which gives credence to the short positions being assumed by investors. It is weakly holding on to the $19,000 level. So further decline could push Short BTC exposure to a new high.

 

Featured image from BeInCrypto, charts from Arcane Research and TradingView.com

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The Ethereum Merge: What Is Trading Headed Towards?

If Bitcoin is the digital gold of the crypto sphere, then Ethereum is the digital silver. The blockchain powerhouse headed by Vitalik Buterin has taken the world by storm since its foundation in 2015, and its price journey has outperformed BTC on several occasions.

From its starting value of just under $1, the price of Ethereum surged to more than $4,800 last year. This was some of the biggest Ethereum news, but 2022 has marked a major landmark in this cryptocurrency’s journey: The merge!

The merge is seriously exciting, from overhauling price predictions and revolutionising trading to taking Ethereum into the future. Today, we’ll look at how it will change things and cover everything you need to know. But first, what exactly is The Merge?

What Is The Ethereum Merge?

The Ethereum Merge has been a long-awaited upgrade of the digital framework of the world’s second-biggest cryptocurrency that an inefficient energy-sapping system has long been plagued by.

By swapping proof-of-work (PoW) for proof-of-stake (PoS), a seriously difficult and time-consuming task like a digital version of switching the engine of a car, Ethereum has now achieved energy efficiency and can class itself as one of the few environmentally-friendly cryptocurrencies that now consumes around 99.9% less energy.

To put this into perspective, this transformation is equal to the country of Finland closing down its national power grid, according to Digiconomist.

And it’s not just energy efficiency that The Merge will bring. According to the team behind the Ethereum network, the transition from proof-of-work to proof-of-stake will lead to more security and scalability for the Ethereum platform, which is home to more than $60 billion worth of crypto exchanges, lending companies, and non-fungible token (NFT) marketplaces.

“If you’re investing in Ethereum or any kind of blockchain technology, you’re investing in something in its early days. You’re going to need a long-term time horizon to see how things evolve. I really don’t think there’s a lot that folks who own Ethereum should be doing at this point.” – Doug Boneparth, financial advisor.

But amongst the ever-sceptical crypto community, many people are eagerly eyeing up The Merge and are keen to see how it will perform in the next few months. Is this the key to a bright future for Ethereum, or is it all just hype? Most importantly, how will it impact the price of Ethereum in future?

To answer this demand for answers, let’s delve into five ways that the Ethereum merge can affect trading and the wider world of cryptocurrency.

Can The Merge Secure Ethereum Against Hackers?

There is a lot of money involved in crypto, and the blockchain is a prime target for online hackers. In 2022, losses stemming from crypto hacks have skyrocketed by 60% to a staggering combined value of $1.9 billion. Naturally, many people are keen to know if The Merge can make the Ethereum network more secure against hackers.

The blockchain will always have weak spots for hackers to take advantage of; The Merge has arguably made advances to secure the Ethereum network. For example, the cost to validate transactions on the Ethereum blockchain is 33 ETH, or around $55,000.

This initial investment is a significant barrier for hackers to gain access to the network, with no guarantee that their attack will be successful. However, what can be a step towards higher trustworthiness is to always look for purchasing Ethereum from reliable trading platforms such as Kucoin, Gemini, Immediate Edge or Coinbase just to limit the exposure to scams as much as possible.

Can More People Use The Ethereum Network Now?

One of the most popular aspects of the Ethereum network is that those who use it can earn rewards through their participation in the network, thereby securing it in the process. Following The Merge, the rewards opportunities are now open to more people as there is much more room for new users to use the network now.

Following the transition to proof of stake (PoS), miners no longer validate transactions on the Ethereum blockchain. Instead, validations are not carried out through the staking process. This means that users who hold Ethereum tokens can now stake some of them to validate transactions and secure the Ethereum network. In return, users are rewarded with a fraction of the transaction fees.

Mining, an intense and expensive to run operation, required advanced computer equipment and knowledge to be done effectively. This presented a barrier for many people. Staking, however, is not only beginner-friendly, it’s cheaper to start with and much more straightforward to get involved and reap the benefits.

As well as the Ethereum blockchain itself, various widely used platforms like Coinbase, Lido Finance, and some platforms available through services like Immediate Edge offer the chance to stake Ethereum simply via an automated process. APY rates are currently between 3% and 3.8% on most major platforms.

If you wish to stake your Ethereum, fully understanding how the staking process works beforehand is important. Once you stake, you’ll be unable to trade your staked amount for a pre-agreed period of time. However, if you’re a long-term investor, this is no issue.

Compared to traditional dividend stocks, the interest rates awarded for staking Ethereum after The Merge are vastly superior. It provides the chance for Ethereum holders to earn a passive stream of income automatically. Thus, it presents another good reason to own Ethereum that will likely drive more people to invest in it.

How Will Energy-Efficiency Affect Ethereum?

The environmental drain of cryptocurrencies like Ethereum has long hindered their scalability. However, The Merge will now see Ethereum use around 99.9% less energy, a huge boost to its sustainability and the key to more widespread adoption.

Through its transition to proof of stake, Ethereum is sending a message to those seeking to regulate the crypto market that it can adapt to the future and place the preservation of the planet at the forefront of its foals.

Recently, the White House Office of Science and Technology Policy (OSTP) conducted an in-depth report on the Climate and Energy Implications of Crypto-Assets in the United States, showing that mainstream adoption of cryptocurrencies is becoming increasingly considered by the highest levels of government.

Many are hoping that the Ethereum Merge will only lead to more research and collaboration between the crypto industry and global governments, which will hopefully have a massively positive effect on the value of crypto overall.

Will Ethereum Gas Fees Lower After The Merge?

One of the biggest drawbacks of the Ethereum network is the Gas fees. This is the obligatory fee that comes with any form of transaction carried out on the Ethereum blockchain. They are paid using Ethereum’s native token of ETH and often rise dramatically if there is an increased demand for processing transactions.

At some of the highest traffic periods on the Ethereum blockchain, gas fees can surge to hundreds of dollars. As a result, it can be completely inefficient for many. So many people are questioning if The Merge will lower these Gas fees.

The answer? Yes, and no. Gas fees are predicted to lower in future, but not straight away. The transition to proof-of-stake won’t expand Ethereum’s network capacity, which is needed to lower gas fees.

However, the Ethereum network is implemented a Layer 2 technology called roll-ups; This effectively “rolls up” a wide range of transactions off of the Ethereum blockchain, processes them, and then subsequently records a smaller, compressed version on the main Ethereum blockchain. To realise the introduction of this technology, The Merger is vital.

How Will The Merge Affect The ETH Price For Investors?

Now, we reach the most important question: How will The Merge affect investors like you? Many of you may have been initially disappointed to see the price of ETH plummet after The Merge, as many people expected the complete opposite.

However, it’s important to remember that the effects of The Merge will not be immediately made apparent. The Ethereum network will not become high-speed with low transaction fees straight away; it will take place over the next few months and years.

All these positive upgrades to Ethereum can attract more investors, bringing the supply of ETH down and positively affecting the price of Ethereum’s native token.

In Conclusion: The Future Is Bright, The Future Is Merged!

And so, to sum up: The best way to explain The Merge is as a foundation for the future of Ethereum. From high speeds to lower fees and overall environmental efficiency, The Merge results have the potential for an Ethereum bull run sometime soon.

Ethereum may now be primed for new institutional investors who prioritise environmental, social, and governance (ESG) practices but have been dissuaded in the past due to Ethereum’s high energy consumption. Following The Merge, Ethereum is now an energy-efficient and more environmentally friendly asset to own.

It’s clear that some majorly positive changes are coming to the Ethereum network. But a lot will stay the same in the early days of The Merge. At least, for now. Over the last five years, Ethereum has provided a return on investment of 600%. Will that number be surpassed in the coming months? Only time will tell.

The future of Ethereum looks bright following the benefits that The Merge can bring. But as with any cryptocurrency, nothing is guaranteed. Always invest responsibly and seek out the advice of a licensed financial advisor if you’re investing in cryptocurrency for the first time. Trading digital currencies can be highly volatile and are not recommended for everybody.

 

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Sam Bankman-Fried Eyes On Bidding For Celsius Assets

Celsius Network is a cryptocurrency lending firm headquartered in New Jersey. Though it maintained its offices in four countries, the company’s operation was global.

Celsius allowed users to deposit different crypto assets while offering a percentage yield as a reward. Also, customers could get loans from the platform through a pledge of some digital assets as securities.

Many crypto-related firms were affected during the severe crypto winter in the first half of 2022. The collapse of the algorithmic stablecoin Terra and its ecosystem magnified the crisis in the crypto space. Celsius was one of the struggling firms that experienced a more significant impact from the situation.

The company could not survive the heat of the prolonged bearish trend. According to some industry participants, the lending firm had to struggle more due to its outrageous rates on yields.

Subsequently, it became bankrupt, stopped all withdrawals on its platform, and filed for Chapter 11 bankruptcy protection.

SBF To Bid For Celsius Assets

Following insolvency, a reporting source disclosed that Celsius assets are up for bidding. According to the report, the founder and CEO of FTX crypto exchange, Sam Bankman-Fried, plans to participate in bidding for the assets.

Despite the overall crypto market decline today, the native token of Celsius, CEL, surged by 10% following the SBF statement. However, the token dipped after a few trading hours. At the time of press, CEL is trading around $1.51 depicting an increase of 1.22% over the past 24 hours.

The recent move from the SBF synchronizes with the vision of his companies, Alameda and FTX. Through the bearish crypto trend in the first half of the year, the firms have been making several purchases in the crypto industry.

SBF had a deal with BlockFi, one of the struggling crypto lending companies. Also, there are reports of SBF’s possible acquisition of Robinhood. However, the authenticity is still doubtful as it could all be part of rumors.

In the latest development, FTX just won its bid for the assets of the insolvent Voyager Digital. The assets have an estimated value of about $1.4 billion. The company came out at the top after an auction that took two weeks with Binance and others as bidders. FTX will use West Realm Shires Inc., its US subsidiary, to acquire the assets.

Alex Mashinsky, CEO Of Celsius Network Resigns

Recently, Alex Mashinsky, the CEO of the Celsius Network, tendered his resignation letter. The executive announcement was on Tuesday, September 27, to the Special Committee of the Board of Directors of Celsius Network.

Mashinsky’s resignation cuts across all his positions in the firm. These include his position as the CEO and other positions and directorships at various company subsidiaries.

Featured image from Zipmex, Chart: TradingView.com

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