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Binance Coin Price Analysis: 07 June

Binance Coin has seen a good first half in 2021. Trading around $40 during December 2020, its price managed to snap record levels at $693 in May- representing a jump of 1,500% in just 5 months. During

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Binance Coin has seen a good first half in 2021. Trading around $40 during December 2020, its price managed to snap record levels at $693 in May- representing a jump of 1,500% in just 5 months. During its meteoric rise, BNB positioned itself at the top of the crypto-ladder and has been in the top 5 rankings consistently. The 19 May crash may have stalled BNB’s upward trajectory, but the price has been making steady recoveries since the pullback.

BNB 4-hour chart

Source: BNB/USD, TradingView

While a rapid buy phase on 2o May did push Binance Coin towards $420, selling pressure eventually took over and dragged the cryptocurrency to monthly lows of $210. This led to the emergence of a demand zone as BNB began its road to recovery. Although BNB has not been immune to regular market corrections, it managed to find support at higher levels- at $290, $370, and $390. The bottom sloping trendline indicated that the price has been forming higher lows- a positive development. An ascending triangle formed with the upper trendline representing resistance between $420 and $430.

Reasoning

Binance Coin traded within an ascending triangle- a pattern that usually sees a break to the upside. OBV’s higher lows showed that buying volume has been on the rise over the past two weeks. MACD approached a bullish crossover, while the histogram indicated declining bearish momentum.

Moreover, RSI’s uptrend confirmed with BNB’s price action. While these might not be signs of an immediate price swing, it did show that bulls were gaining control and preparing for the next upcycle. An important region to overtake lay around $430. This area offered support to BNB’s sharp pullback in mid-April and even triggered a 25% rally soon after. The same line was highlighted on multiple occasions post the 19 May crash as well. A successful breakout could open the doors for a 20% hike towards the $500-mark.

Crucial levels to watch out for:

Entry: $400

Take-profit: $500

Stop-loss: $360

Risk/Reward Ratio: 2.73

Conclusion

A bullish narrative has been building up in the Binance Coin market since 19 May. Overhead resistance between $420 and $430 has been tested on multiple occasions while the price has formed higher lows. An ascending triangle setup formed in the process and the technicals favored a break to the upside. Traders can exit their positions once BNB approaches the $500-mark- an area that coincided with the 50-SMA on a higher timeframe (daily chart).


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/binance-coin-price-analysis-07-june

Blockchain

Crypto fintech Centbee selected for regulatory sandbox

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YouTube has banned ads about gambling, alcohol, politics, and prescription drugs from its masthead, the website’s most prominent advertisement slot. Axios reported the ban…

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ventureburn.com/2021/06/crypto-fintech-centbee-selected-for-regulatory-sandbox/

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Blockchain

Crypto fintech Centbee selected for regulatory sandbox

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on

YouTube has banned ads about gambling, alcohol, politics, and prescription drugs from its masthead, the website’s most prominent advertisement slot. Axios reported the ban…

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ventureburn.com/2021/06/crypto-fintech-centbee-selected-for-regulatory-sandbox/

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Blockchain

How to Pick a Bitcoin Trading Platform from the UK

If you pick the wrong one, you may waste a lot of your effort, time, and money. Even though there are many Bitcoin trading platforms in the UK

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4.5 / 5 ( 2 votes )

The cryptocurrency world is booming, and Bitcoin hasn’t been left behind. The digital coin’s use and popularity in the UK has hit an all-time high. If you are an investor looking to trade in Bitcoin, choosing the right trading platform is critical.

If you pick the wrong one, you may waste a lot of your effort, time, and money. Even though there are many Bitcoin trading platforms in the UK, they aren’t always right for you. Here are a few tips for choosing the right one.

1.Reputation

The reputation of a trading company is everything. It determines if their offers and claims are truthful and whether you should work with them. If the reputation of a trading company is bad, you shouldn’t work with them. Choose reputable companies with positive reviews from traders.

Do not make the mistake of investing with a trading platform before determining its reputation.

Even though Bitcoin is popular, it is still a fairly new kind of trade. Unfortunately, many people don’t understand it, and scammers are likely to take advantage. They may scam you for your money.

There are many ways to check the reputation of a trading platform. The first one is to ask around. Your networks may help you determine the reputation of different platforms. Reading online reviews may be helpful as well. Check their social media sites and learn about the views of previous clients. Reading the terms and conditions may also help you set expectations.

READ  Everything you Need to Know about Bitcoin Wallets

2.Asset Prices and Fees

Different platforms may have varying asset prices. In most cases, the asset prices are determined by your location. In the UK, the volumes are pretty high. Asset prices and discrepancies will help you identify trading platforms that may be prone to low liquidity and volume loss.

Most Bitcoin trading platforms charge a small fee for their trades. However, these fees aren’t standard, and you must choose a trading platform that doesn’t overcharge you.

Fees are an important consideration when picking a trading platform. In most cases, they are charged on the basis of percentage per trade. Since traders now buy and sell often, the costs can be high. Some trading platforms will even charge a withdrawal fee.

3.Security Features

When picking a trading platform, security features are an important consideration. You don’t want to work with a platform where your security may be compromised. 2FA may be an important consideration.

It is the most reliable level of security by modern standards. Even if you enjoy a certain trading platform, you may need to reevaluate it if doesn’t have sufficient security features.

The best Bitcoin trading platform UK has multiple security and trading protocols. But as always, perform comprehensive research on the authenticity and security of a website before working with them. Incompetent exchanges expose you to fraud and the risk of losing your investment.

4.User Experience and Purchase Methods

Functionality and user experience are important considerations when trading cryptocurrencies. Even the most experienced traders will appreciate a good user experience. Exchanges with good user experience are likely to attract substantial growth in transaction numbers. Some trading platforms may offer free tokens and other helpful offers.

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Determine how long transactions take to be processed in a trading platform. Platforms with short transaction periods are obviously better than those with lengthy and complicated terms. In some trading platforms, you may wait weeks for transactions to process.

5.Fiat Exchange

Investors in the Bitcoin market must have a mechanism to exchange local currency into units that can be traded. You must be able to convert your profits from Bitcoin into local currency.

Fiat currency comes in at this point. All Bitcoin traders need a fiat compatible exchange at some point. It makes it possible to convert the exchange to traditional currency. Fiat exchange processes are important when you need to get in or out of the crypto trading world.

Note that certain fiat exchanges may be compatible with specified financial institutions. Others aren’t. Always check the compatibility of a trading platform before working with them. Ensure that their fiat currency work for you.

It is important to note that different platforms have different fiat options. It is only prudent that you ask the right the right questions. Find out if your favorite banks are compatible with a platform before choosing it.

6.Consider Insurance

It is important to find out if your preferred trading platform has an insurance fund before working with them. Most Bitcoin trading platforms now have some sort of insurance fund. The funds serve as compensation for traders in the event of unforeseen circumstances. This sort of insurance is essential for new traders.

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Even though lots of reputable trading platforms in the UK may lack an insurance fund, it is best to work with those that offer you a level of protection. You will have an easier trading experience knowing that you are protected in case of certain unexpected circumstances.

7. Trade With Leverage

Leveraged trading is the process through which traders borrow a specified amount of funds to trade. The best trading platforms in the UK will let you borrow some money for trading purposes. If you only plan on being in the Bitcoin world for a short time, leverage protocol is a great idea.

It also comes in handy if you don’t have much understanding of the cryptocurrency. Do some research and identify the best Bitcoin trading platforms that may offer trading protocols. Most platforms will be happy to offer 1X or 100X trading leverage.

8.Legality

One of the best things about Bitcoin is that it offers you more legality than other cryptocurrencies. These days, there are lots of local laws about cryptocurrency. You need to understand them before becoming a trader.

It is even more important to work with a trading platform that operates within the confines of the law. Determining the legality of a trading platform before working with them may seem obvious, but it is something that many traders fail to consider.

#Bitcoin trading platform

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/how-to-pick-a-bitcoin-trading-platform-from-the-uk

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5 Online Casino Games You Can Use Bitcoin In

With such a wide variety of games and more being added all the time, online casinos are developing into an entertainment venue that anyone can enjoy.

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4.3 / 5 ( 3 votes )

If you have been accumulating bitcoin then you may be wondering whether you can use them in an online casino rather than using a traditional currency.

You’ll already know that bitcoin offers low transaction costs and affords the user anonymity so makes the ideal currency for use in online casinos.

Well the good news is that many casinos are now taking cryptocurrency so with that in mind we thought it would be a good idea to take a look at some of the exciting games you can play using bitcoin.

Poker

One of the great things about online casinos is that you can find pretty much any style of poker you may want.

Whether you love a game of turbo Texas hold’em or you prefer a more sedate closed VIP room then there’s something for you.

As well as many different types of poker there are also a wide variety of different rooms and playing methods.

You can go for the party atmosphere in an open public room or choose to go with a closed VIP room with specially invited guests.

You may choose to play on your PC, tablet or phone or even visit a Virtual Reality casino for a truly immersive experience.

Roulette

No self-respecting Bitcoin casino would be complete without roulette but if you have never visited an online casino before then you may be surprised by the variety of games available.

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Naturally, you can expect to see European roulette wheels with a single zero and American wheels with double zero slots.

But you will also find classic French roulette wheels with their single zero position and La Partage and En prison rules in many cases.

It’s also possible to find triple zero wheels although this is admittedly an unusual option.

As with poker, it is possible to play single-handed or to enter public rooms and play with live players.

Live croupier roulette wheels are also available which all adds to the experience of playing online.

roulette
source:https://technofaq.org/

Blackjack

Another of the staples of the physical casino, blackjack is one of the most common online games too.

The classic game of ‘21’ has spawned a myriad of different versions over the years but in general, you’ll probably find at the very least the five most common types in any online casino.

Standard or ‘American’ blackjack is probably the one that most people have seen on TV and in the movies. A very simple game that requires players to get as close to 21 as possible without going over it forms the basis of all other types.

European blackjack features a deck of only two packs of cards and a dealer standing on a soft 17. Typically the house edge is somewhat lower than standard blackjack so offers a better bet for players.

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Face up blackjack is also available and this is where the dealer’s two cards are dealt face up, meaning that the players have a much better chance of beating the odds.

The final types of blackjack you may see in your online casino are Perfect pairs and Spanish 21. In the former, the player is able to make a side bet on whether they will be dealt a pair with a payout that could reach 30:1 for the right pair and in Spanish 21 all of the 10 cards in the pack are removed.

Again all of these games are available as a single player, in a group room and with live dealers meaning that you have the choice of playing exactly the way you like.

Mystery and challenge games

Online casinos aren’t confined to simply card and dice games and one of the most popular pastimes for people are mystery and challenge games.

These are games that require players to carry out specific tasks or solve story-based mysteries to unlock different levels and ultimately, prizes.

These can take the form of fantasy type games, games with storylines or detective-style challenges.

What is striking is the amount of creativity that has gone into producing interesting, challenging and entertaining games that all feature the possibility of winning prizes.

In a highly competitive sector, casinos have had to invest heavily in producing interesting and intriguing content that keeps people coming back for more making the online casino visit a much more interesting prospect for the customer.

READ  Reviews Of Best Multi Cryptocurrency Wallets With Pros And Cons

Games of skill

One of the latest developments in the world of online gaming are games of skill that are played for money.

In many cases, these will be creatively developed by the casino concerned but increasingly we are seeing favourites old and new appear in a ‘for money’ form.

Imagine being able to play Monopoly for real money or to be able to gamble on ‘Who wants to be a millionaire’.

Online casinos are also licencing the formats for many popular game shows so if you have always wanted to play your favourite TV game for money then you could be in luck.

As as well as games of skill you can also expect to see old fairground favourites like coin drops or slots given a new lease of life providing a whole host of new entertainment possibilities.

Online casinos – a great way to spend your bitcoin

Online casinos have developed massively over the last few years and they are now a world away from a traditional brick and mortar establishment.

With such a wide variety of games and more being added all the time, online casinos are developing into an entertainment venue that anyone can enjoy. What better way to spend a little bitcoin than by having a little downtime in your favourite online casino?

#Online casino games

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/5-online-casino-games-you-can-use-bitcoin-in

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