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How to do Market analysis of upcoming crypto tokens?

There is no definite formula for the same but the following are some examples of the latest coins like Litecoin, Binance, and Cardano. 

BNB/USD

Over the past few weeks, Binance Coin (BNB) has been trapped in the $25,6652 to $32 range. On December 19, the bulls moved the market beyond the overhead resistance and have followed it today with another up-move.

The BNB/USD pair has currently hit the overhead resistance of $ 35,4328 from where the price on November 25 had changed course. A re-test of the all-time high at $39.5941 is possible if the bulls can drive and hold the market above this resistance.

If the price declines from current prices and falls to $32, this bullish opinion would be invalidated. A couple of more days of restructuring would indicate such a step.

The upsloping moving averages and the RSI in the overbought sector, however, suggest the bulls benefit. If the bulls do not encourage the market to slide below $33.3888, the risk of a break over $35.4338 would improve.

If, on the other hand, the bears drop below the price of $33,3888, a decline to 20-EMA and then to $32 is probable.

LTC/USD

Since breaking out of the symmetrical triangle on December 16, Litecoin (LTC) picked up momentum. The goal target of the triangle’s breakout was $119.77 and it was reached on December 19.

The momentum is clearly in favor of the bulls, though. If the market does not slip below the $101,868 Fibonacci retracement of 50 %, it would mean that the bulls are not booking profits in a rush.

The probability of a rebound over $124.1278 would be improved by a shallow pullback. If that occurs, it could lift the LTC/USD pair to $140.

conversely, if the price falls below $101,868, the pair will be able to correct the EMA ($90) for 20 days. A deeper correction would mean that the momentum has reduced and may result in a few days of range-bound activity.

ADA/USD

Over the past few days, Cardano (ADA) has been traded inside the $0.13 to $0.175 range. On December 17, the altcoin turned away from the overhead opposition, but the bulls didn’t give up any room. This illustrates that there is no rush for traders to book profits.

If the sellers would propel the market beyond the $0.175 to $0.1826315 overhead support level, the ADA/USD pair could rally to $0.22 and then to $0.235. he market turns down from the current levels but recovers from the 20-day EMA ($0.154).The growing moving averages and the RSI in the positive territory indicate that bulls have the upper hand.

The bulls will continue to revive the upward trend if tOn the opposite, the pair could fall to $0.13 and prolong the stay inside the range if the bears lower the price below the 20-day EMA.

also read: How to study the crypto market?

 

How to study the crypto market ?

When an asset’s price reaches a new all-time high, traders plough in as they see a chance to ride the trade higher. The same was seen after the price of Bitcoin (BTC) broke over the $20,000 mark on December 16. By December 19, the price had reached an intraday record at $24,197.46, a 21% rally in four days.

This sudden swing in the price of Bitcoin draws traders who use options by buying downside insurance to try to amplify their profits or hedge their current positions. This resulted in an open market in Bitcoin options that reached a new all-time high earlier this week at $6.5 billion. Starting with bitcoin’s sharp momentum.

let us take an example.

BTC/USD

After the market broke through the $20,000 overhead resistance, Bitcoin picked up steam, but the fast growth of the last few days forced the relative strength index (RSI) far into the region of overbought. In the next two days, this indicates the likelihood of a consolidation or a correction.

Typically, when the price breaks above a crucial threshold, such as an all-time high, the breakout level is turned down and retested. In this scenario, from the $25,000 to $26,000 resistance range, the BTC/USD pair can turn down and re-test the breakout level at $20,000.

If the market vigorously bounces from this support, the bulls will again attempt to revive the upward trajectory. If they thrive, that would mean that the current floor for the pair is $20,000.

Contrary to this presumption, if the bears fall below the exponential moving average of 20 days ($20,356) and the $19,500 uphold, the pair might drop to the simple moving average of 50 days at $17,960.1

ETH/USD

On December 16, Ether (ETH) broke out of the ascending triangle pattern, and on December 17, the market rallied to $676,325, but the bulls could not maintain the higher levels.

Although the bulls did not cause $622,807 for the price to drop below the immediate support, the price is trapped between $622,807 and $676,325.

If the bulls can catapult the market beyond $676,325, the next leg of the uptrend that could meet the $763,614 pattern goal could begin. The upsloping moving averages indicate that the upper hand is on the bulls.

Contrarily, the ETH/USD pair could decline to the 20-day EMA ($599) if the bears lower the price to $622,807. If the market bounces back with intensity from this boost, the bulls will attempt to revive the upward trend.

Cryptocurrencies may go up in value, but many investors see them as mere speculations, not real investments. The reason? Just like real currencies, cryptocurrencies generate no cash flow, so for you to profit, someone has to pay more for the currency than you did.

That’s what’s called “the greater fool” theory of investment. Contrast that to a well-managed business, which increases its value over time by growing the profitability and cash flow of the operation.

Also, read Vitalik Influencing Crypto via Ethereum!

 

Vitalik Influencing Crypto via Ethereum!

A Russian-Canadian writer and programmer, Vitalik is indeed influential in the Bitcoin community since 2011, co-founding and publishing articles for Bitcoin Magazine. He is best regarded as the founder of Ethereum, a blockchain technology system meant to handle smart contracts and decentralized applications and currently the world’s second-most important and acknowledged cryptocurrency platform behind Bitcoin.

Vitalik has been involved with crypto for a while now, having developed an early interest in bitcoin. Earlier, he worked as Chief Editor of Bitcoin News, which covers innovations in the blockchain industry before moving to launch Ethereum, which helps developers create decentralized applications (DApps). Ethereum is the second most important digital asset.

Ethereum

Buterin elaborated Ethereum in a whitepaper. He proposed a platform, which has a general scripting language. Buterin researched and implementing security and expanding strategies for Ethereum, as the blockchain technology is striving to manage a meager fifteen transactions per second. Although the next lengthy step of Ethereum (dubbed Ethereum 2.0) is expected to arrive in 2021 or even later, Buterin has received outrage from most of the blockchain community for offering a brief solution by incorporating Bitcoin Cash (BCH): from the original Bitcoin that provides a wealth of data, which is better than Ethereum.

Later, he claimed that, in fact, necessary for the crypto community to maintain and have a massive social influence, it must abandon the rigid idealistic paradigm of the cryptographic protocols and focus more on the dynamics of a progressive system. In October, Buterin conducted a Twitter poll asking the group how much ETH will need to be at stake to endorse a reversion of chain operation to a big hack, with 61 percent choosing “Intervention Never OK.”

Buterin suggested a method for introducing an early upgrade from Ethereum 1.0 to Ethereum 2.0 before the difficult network days later, postponing the transition.

Buterin strongly believes Ethereum execution is full of endless possibilities. “Ether” is used for paying transaction fees, and is the main fuel for Ethereum. Financial applications provide users with efficient ways to enter into a contract. Token Systems represent assets like gold, USD, stocks, which are easy to implement in Ethereum.

Buterin and a group of researchers are proactive in addressing the challenging practical issues of a free, unauthorized computer network that can keep pace with established enterprises.

It will be a crucial year for the advancement of Ethereum, as researchers strive to configure that platform for such a long shift to a more flexible and less powerful, decentralized computing network. In fact, Ethereum 2.0 is the original goal for Ethereum: proof-of-stake consensus, state clustering, easy implementation of transactions, and more.

Also read: What the Crypto Economy looks like in Joe Biden’s Presidency!

What the Crypto Economy looks like in Joe Biden’s Presidency!

On 20th January 2021, former Vice President Joe Biden took over the top office in the United States. For years to follow, the nominations for federal office may influence crypto strategy in the world. And again, Congress, as well as the president, is controlled by the same major political party, which means a united economic and financial policy can be enforced.

Within last week, BITCOIN prices have varied, and now the leadership of Joe Biden may lead to a decline, reports claim.

Mr. Biden who is inaugurated as US President, leaving policymakers to ponder on how the market and businesses can be changed under his new agenda.

Given Gary Gensler’s continuing and profound involvement in technology, Securities and Trading is good news for the crypto community.

Why it makes a difference: While, under Trump-era President Jay Clayton, the SEC has shared several of its thoughts by policy actions, etc., this same industry has already been longing for a more legislative clarification.

A majority of plans to create policy changes on the first day are already applicable to the new administration. ABC News is reporting that Biden would implement a reaching transformation of U.S. policy through a handful of executive orders, presidential memoranda, as well as other authorized regulations continuing in the first week of his tenure.

Fintech and crypto, if it came to immediate action, will not be at the top of the list of Biden administration. The Biden presidency, furthermore, is projected to make all sorts of substantial policy decisions for the United States beyond the first day, first week, as well as first year in office.

COVID has brought a radical approach towards the digital transformation of the whole financial world.

As quarantine measures were put, the use of money fell significantly in the United States and overseas; financial companies that had provided in-person services were driven to expand their online business processes much more.

Perhaps this is part of the reason why Bitcoin managed to smash through its previous all-time high year of the pandemic, gathering incredible international recognition then use.

In fact, 2021 has been the ‘Defi year’ term, wherein the decentralized financial environment made massive improvements for its advancement while using.

One of the strongest influences of the Biden presidency may come through regulations that are not particularly applicable to cryptocurrency or anything, so far as the major effects on a crypto world are involved. The United States may not be willing to create a ‘virtual currency’ quite yet, given all of this. A set of rules will be introduced by Financial Crimes Enforcement Network (FinCEN) to take crypto activities within the strict investigation.

It is a wait-and-watch game, what Biden’s Era will unfold for the crypto economy.

Also read:Calculating the Crypto Revolution- 2021

 

Calculating the Crypto Revolution- 2021

The meteoric rise in the price of Bitcoin has put cryptocurrency on a map in the investment world. Bitcoin has outperformed excellence in terms of cost ever since its launch a little over a decade earlier. This is the most valuable cryptocurrency, with a $1 trillion economy. While Bitcoin is the most popular cryptocurrency, there are over 5000 cryptocurrencies in circulation today.

Numerous cryptocurrencies have outperformed Bitcoin in terms of performance. Ethereum, the second-largest cryptocurrency, has increased by 750 % since 2020, surpassing Bitcoin’s 600 % return over the same period. Many of these cryptocurrencies are directly competing alongside bitcoin. Investors are starting to question, ‘What to look out for in the Crypto Revolution- 2021?’

NFT

NFT Non Fungible Tokens are digital assets that can only be found online. They represent various valuable assets like art, artworks, sports cards, music records, digital real estate, and so on. Each NFT represents the unique data that enables users to distinguish between the two NFTs. The info also allows us to validate the legitimacy of the assets. As each NFT is distinctive in its own right, they cannot be exchanged.

Non-fungible tokens, or NFTs, have exploded onto the digital art scene this past year. Proponents say they are a way to make digital assets scarce, and therefore more valuable. 

Nowadays, most NFTs tend to be digital. This makes it particularly easy for creators to give their supporters something rare and unique. Some NFTs, for example, are digital artworks, and people are now collecting these digital artworks, just like collectors have collected physical paintings for years. And some of these NFTs have gone for extraordinary prices.

A more down-to-earth version of a modern digital NFT is CryptoKitties. They are an Ethereum blockchain game where users can buy, sell and breed digital “cats.” Every “cat” is unique (just like your real-life pet).

In some ways, NFTs are similar to Bitcoins and other cryptocurrencies, except, of course, they are non-fungible and non-divisible. The first NFTs were part of the Ethereum blockchain, which stores extra electronic information to distinguish their uniqueness. Other blockchains now also facilitate NTFs. Because of the differing blockchain technology behind particular NFTs, not all NFT marketplaces buy and sell all types of NFT. Creators will often select an NFT marketplace based on whether that marketplace supports a specific NFC token standard.

Yield Farming

It is a facet of the Defi network that enables users to acquire cryptocurrency using cryptocurrency. Its process is equivalent to lending money with peers and being able to earn interest on money lent. Yield farming allows people to lock in their crypto for a set period of time for rewards. Incentives could include interest, new tokens, other blockchain-based coins, and so on.

At its core, yield farming is a process that allows cryptocurrency holders to earn rewards on their holdings. With yield farming, an investor deposits units of a cryptocurrency into a lending protocol to earn interest from trading fees. Some users are also rewarded with additional yields from the protocol’s governance token.

Yield farming works in a similar way to bank loans. When the bank loans you money, you pay back the loan with interest. Yield farming does the same, but this time, the banks are crypto holders like yourself. Yield farming uses “idle cryptos” that would have otherwise been wasting away in an exchange or hot wallet to provide liquidity in DeFi protocols.

Also read: What to watch out for in Crypto- 2022?

What to watch out for in Crypto- 2022?

The Crypto Tale

Cryptocurrencies seem to be the most popular asset class to enter the investment portfolio.  Because it was developed as a decentralized alternative to the current and centralized financial sector, it has adapted into a form of currency. What can you look for? Bitcoin has been made clear as its own important asset in recent years.

List of most popular coins:

  • Bitcoin
  • Ethereum
  • Cardano
  • Binance Coin
  • Polkadot
  • Band Protocol
  • Algorand

 

What should I look for?

Bitcoin has now clearly established itself as a valuable asset. Investors who invest are looking for something more substantial than Bitcoin. While it is common to look at demand and market trends to identify which cryptocurrency will be the next major thing, the price may not be the only factor to consider. Instead, investors are looking for features and the demand for digital currencies.  Another factor to know is shortage and supply. If a currency’s production is not limited, it may lose long-term value even if resources can be met with rising prices, helping the economy. Bitcoin, for starters, gained prominence because it eliminates mediators from money transfers and represents a low inflation asset with a total supply of just 21 million BTC.

If a cryptocurrency possesses the unique qualifications, it will have the best opportunity of becoming crypto revolution:

  • It is easily identifiable
  • It serves a specific purpose
  • It is supported by an accurate and credible team
  • Its platform is dependable

The cryptocurrency market is a mosaic of technological breakthroughs. Many cryptocurrencies with high speed and accuracy and customization are introduced daily. Here are some developments that could transform the cryptocurrency area in 2021.

Defi

Decentralized Finance (Defi), even as the name indicates, is a broad part of financial applications on cryptocurrency and blockchain technology. As an accessible financial sector, Defi intends to optimize its effectiveness and quality of business transactions by minimizing intermediaries and disruption caused by a centralized system. Defi gives customers direct access to funds. It is used all over the world in a wide variety of areas such as banking, healthcare, and so on.

Polka Dot

Polka Dot combines several specialized blockchains into a single network. It is also referred to as “next-generation blockchain technology.” In general, a blockchain can only sequence a certain amount of transactions at any given time. Polka Dot, on the other hand, can process multiple transactions on multiple chains at the same time.

The cryptocurrency market is constantly evolving. With cryptocurrency making substantial progress toward creating crypto investment more approachable, there are countless opportunities for crypto investors to build with blockchain and revolutionize businesses with crypto adoption.

Also read: Why XRP collapse is bigger than anything else?

Why XRP collapse is bigger than anything else?

XRP was developed and launched in 2012 by Ripple Labs co-founders Arthur Britto and Jed McCaleb and tech whiz David Schwartz, who gifted a large portion of the token to the startup. The company has sold about $1.2 billion in XRP since then, according to Messari.

Ripple, which has long insisted it did not create and does not control XRP, did not respond to a request for comment by press time. In an appearance on CNBC Tuesday, Garlinghouse called the SEC’s position on XRP “one foot out the door.”

The market capitalization of XRP cryptocurrency has fallen approximately $130 billion almost since its all-time highest , with the fall of cryptocurrencies equivalent to the collapse of financial institutions.

XRP’s market cap has plummeted by $16 billion, or 63%, after news of the US Securities and Exchange Commission’s complaint regarding Ripple Research facilities surfaced on December 21. SEC’s complaint alleges that Ripple Labs has raised $1bn in non – registered investments through 2013 by offering XRP to traders, including those from the United States.

It also has recently fallen below $10 billion, an unprecedented loss of $130 billion in less than 3 years. This potentially positions the “collapse” of XRP third following Washington Mutual’s $327 billion bankruptcy and the loss of investment group Lehman Brothers—an economic collapse of $691 billion.

It is sad and unfortunate that the biggest losers in the [XRP] debacle are now the individual investors who have suffered enormous amounts of wealth. The founders of Ripple have continued to drain their assets for years making hundreds of millions of dollars. Crypto exchanges including Coinbase, Bittrex, Bitstamp, OSL, Beaxy, later announced that they will still suspend trade for XRP or remove the token altogether, offering additional bearish fuel. Institutional players too have begun to withdraw themselves from XRP.

XRP trades at $0.23, according to the CoinGecko statistics site.

It’ll be fascinating to see whether the price of the coin continues to plummet attributable to more suspensions. How low is it going to go?

While the case has yet to be filed and could take years to resolve, some market experts warn that if the SEC proves in court that XRP is a security, the cryptocurrency could end up without an adequate market, all else being equal. That’s because as of now the majority of crypto trading venues are not licensed to deal in securities.

XRP technical outlook

Looking at the daily chart, we see that the Ripple price has fallen sharply recently. Subsequently, it has moved below the 25-day and 50-day moving averages. Notably, the currency has formed a bearish pennant pattern, which implies that it may not bounce back in the near term. Therefore, there’s a possibility that it will drop to $0.15 in the next few months.

Also read: XRP’s Growth soaring towards rapid Financial Growth!

XRP’s Growth soaring towards rapid Financial Growth!

The cost of XRP has soared by 55% to a 3 year high, owing to a boost for economic growth.

The latest cross-border payment processing development, as well as an increased force to boost global financial inclusion and participation, has caused a 55% rise in the cost of Ripple. The price of XRP has surged by 55% over the last couple of days even as the sixth-largest cryptocurrency by market cap reasserted the attempts to develop a sustainable and equitable cross-border payments system.

The increase in trading volume was motivated by a blog by Ripple named “Creating a More Financially Sustainable and Inclusive Future,” that explained how its venture has teamed up with “mission-driven fintech firms, prestigious universities, NGOs, organizations, and entrepreneurs to establish increased economic equality of opportunity and advantage to everyone.”On April 5, a new wave of buys responded effectively to Ripple’s official statement explaining the most recent addition intended to optimize the cross-border impact:

The latest reports have resulted in a 257 % in XRP market cap in the last two days, with an average 24hr volume of $5 billion exchanged on April 4 expanding to $18.4 billion exchanged on April 5. Analysts believe that relying on its rapidly increasing value, the cost of XRP may have room to grow further, as market and Twitter numbers remain high dramatically.

XRP holders are seeing another day of green candles, with the token up 18.36% in the past 24 hours to $0.968 apiece as of 2:30 p.m. EDT. On Aug. 9, the Senate blocked a provision in the newly passed $1.2 trillion infrastructure legislation that called for greater regulation of cryptocurrencies, sending the sector into a broad and extended rally.

Ripple, the company behind XRP, is also benefitting today from new development in its lawsuit from the Securities and Exchange Commission. Yesterday, despite the presiding judge’s insistence, the SEC refused to hand over evidence discovery documents to Ripple’s defense team.

Back in December, the SEC charged Ripple with offering unregistered securities amounting to $1.3 billion starting in 2013. Even though the lawsuit has gone nowhere and XRP’s market cap has ballooned to a level where its parent entity can offer tokens to settle, it severely damaged the reputation of the token. This is because Ripple’s greatest competitor is the Society for Worldwide Interbank Financial Telecommunication or SWIFT. SWIFT processes large-scale transactions across 11,000 financial institutions (such as the Federal Reserve) in more than 200 countries. Until Ripple resolves its allegations, not many global banks, treasuries, etc., would want to use the service if it’s not compliant with regulatory bodies.

Also read : Visa taking steps to encourage cryptocurrency for use in settlements!

Visa taking steps to encourage cryptocurrency for use in settlements!

Visa is taking steps to encourage cryptocurrency for use in transactions and settlements.

Visa has started a pilot project with Crypto.com, a payment and cryptocurrency network, with hopes to expand the program later next year. Inc announced on Monday that it will accept the cryptocurrency USD Coin to resolve payments on its payment platform, reflecting the latest example of popular implementation of cryptocurrencies. The USD Coin (USDC) is a stable coin cryptocurrency that is tied directly to the US dollar.

Visa’s announcement followed the adoption of many cryptocurrency exchanges by financial firms like BNY Mellon, BlackRock Inc, and Mastercard Inc, fueling projections of whether cryptocurrencies will be a frequent part of investment portfolios.

Elon Musk, the CEO of Tesla Inc, stated last week that bitcoin could be used to buy this company’s electric vehicles, marked a huge leap forward with bitcoin’s use across the business. If a customer wishes to pay for a beverage with a Crypto.com Visa card, the digital currency maintained in a cryptocurrency wallet must be converted into traditional money.

Traditional fiat currency would be transferred in a bank and wired to Visa at the end of the day to settle any transactions, increasing the expense and volatility for companies. Visa’s new change, which will allow the use of the Ethereum blockchain, excludes needing to convert digital currency into fiat currency in exchange for money.

Visa’s latest step, which will use the ethereum blockchain, strips out the need to convert digital coins into traditional money for the transaction to be settled. Visa said it has partnered with digital asset bank Anchorage and completed the first transaction this month.

Visa’s move comes as finance firms including BNY Mellon, BlackRock, and Mastercard take steps to make more use of cryptocurrencies for investment and payment purposes. Tesla boss Elon Musk, a major proponent of cryptocurrencies, said last week that customers can buy its electric vehicles with bitcoin, hoping to encourage more day-to-day use of the digital currency.

Visa said the move is part of a pilot program to make life easier for cryptocurrency businesses. Visa wants to eliminate the hassle of it requiring customers to convert their cryptocurrency holdings into fiat currency, like U.S. dollars, before settling up their accounts on the Visa network. The company said it plans to expand the feature to other members of its payments networks, and potentially to other virtual currencies, later this year.

How does this benefit ordinary people?

The consumer cardholder experience doesn’t change. They have a balance of crypto that they’re able to spend at a merchant. What changes is the process behind the scenes? Now, these businesses don’t have to keep balances in a traditional bank account. This will make it easier for more crypto wallets to offer Visa card programs to consumers, and that’s ultimately going to benefit consumers as they’ll have more options to pay using crypto.

Also read: Study Shows Misinformation Dominates Facebook Engagement Than Real News

Is blockchain a boon for businesses ?

Blockchain is essentially a database system with characteristics that, by themselves, are not unique to it, but when combined, result in a technological breakthrough in the storage, verification, and interchange of digital information.

What is the significance of blockchain in the business world?
Investing in enterprise blockchain will almost certainly become necessary simply to stay competitive. Many analysts believe blockchain will command the same attention as achievements like the PC revolution of the 1970s and 1980s and the mid-90s surge in the internet, knowing that their competitors were making use of these technologies.
Indeed, FOMO (fear of missing out) is likely the driving force behind the recent surge in interest in blockchain-based commercial applications.
However, as you’ll see in the following sections, herd mentality isn’t the only element that drives blockchain. Today, the technology has the ability to save IT costs, extend B2B and B2C networks, enable new products, and increase wealth. Furthermore, as corporate implementations spread and become more polished, blockchain’s business value is projected to expand.
Vlo What are the advantages of blockchain for businesses?
Forrester Research vice president and lead analyst Martha Bennett
Bennett, Martha
Enterprise blockchain shines in procedures involving several stakeholders who all need access to the same data but have slightly different or out-of-date information, according to Bennett, “and a huge amount of effort is spent reconciling data.”
Blockchain has the ability to reduce firms IT and labour expenses, speed up e-commerce and banking, and enable new lines of business because it eliminates middlemen and primarily automates activities that take time and effort. It can also assist companies in growing their consumer bases, reaching them more effectively, and expanding their universe of suppliers and partners.
The benefits of blockchain stem mostly from the trust it inspires, as well as its built-in privacy, security, and data integrity, as well as its transparency.
Trust allows businesses to do business with strangers, thereby extending markets and potentially increasing demand for goods and services, which can lead to increased profitability.
Trusting the accuracy of the data and believing that the system is largely impenetrable, and that privacy is guaranteed in most circumstances, can decrease fraud, eliminate data breaches, and, like trust, attract new consumers and partners. It can also lower data management expenses, improve data accuracy, and make auditing easier.
Blockchains’ transparency helps with supply chain management, visibility, and traceability. Blockchain is already making it easier and more economical to extend supply chain transparency to the tiniest suppliers, such as coffee growers, tuna fishing companies, and miners, while also bolstering trust in product provenance information as commodities flow through the supply chain to consumers.
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