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Bitcoin (BTC) Fractal Suggests Rise to $250-350k by 2021

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The long-term chart of Bitcoin (BTC) contains a fractal, the repeat of which could take the price to the $250-350k range as late as 2021. A break through the resistance area near $60,000 could initiate a parabolic rise, similar to the end of the 2013 and 2017 markets.

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What is a fractal?

Fractals are geometrical structures whose equivalents we find in nature. In simple terms, we can say that they are self-similar structures whose parts look like the whole. Natural examples of fractals are a tree, the shell of a snail, rock formations or a cauliflower. Mathematical ones are, for example, the Mandelbrot Set or the Menger Dice.

Fractals can also be useful indicators in technical analysis for effective trading. By fractals, we mean fragments of an asset’s chart, the structure of which is repeated in different periods. Thanks to the self-similarity of such fragments, an attempt can be made to predict the future behavior of price or its indicators.

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Probably the best known trading example is the Fractal Indicator by Bill Williams. This indicator is helpful in locating peaks and lows, which help determine resistance and support levels on the price chart of an asset.

Long-term fractal for BTC

Bitcoin’s long-term chart is the subject of many fractal analyzes, as its self-similarity appears to be derived from 4-year halving cycles. According to the chart published yesterday, the price of BTC has the potential to reach the $250-350k range by the end of 2021.

Cryptocurrency analyst @bitharington tweeted a simple chart of Bitcoin in which a single, recurring line of resistance (S, support) and support (R, resistance) appears. The first time this line appeared was around $200 in the 2012-2015 cycle, and then we see it around $3,000 in the 2016-2019 cycle. Today, the analyst suggests that the same resistance/support line is present around $60,000.

Source: Twitter

In the previous two cycles, breaking through this resistance line led to a 6x increase on the BTC price. In his opinion, breaking through this resistance in the current cycle could lead the price to the $250-350k range later in 2021. He says this because in the previous two cycles, breaking through the resistance line led to rapid parabolic increases.

The double peak took place in 2017

The hypothesis of analyst @bitharinton is based on several premises. One of them is the claim that the 4-year halving cycles are still in force and Bitcoin will behave similarly to previous years. This premise is uncertain, however, as there is evidence in favor of lengthening crypto market cycles as adoption continues and the reward for mining BTC becomes less important.

Another premise is the fractal structure itself, which implies a double peak in each cycle. While this structure was fairly obvious in the 2013-2014 bull market, the 2016-2017 rally was more regular. The chart does not suggest a clear first peak in the accelerating bull market.

Despite this, the analyst claims in a comment under his tweet that there was indeed a double peak in 2017. Although it is not clearly visible on the price chart, he believes it is perfectly illustrated by the weekly RSI (Relative Strength Index) chart.

Source: Twitter

Indeed, the first peak in the previous cycle’s bull market, in which the RSI reached the 90 level, coincides with the marked $3000 level. And if so, the bull market of 2016-2017 may also have fulfilled the double top fractal.

A closer look at the fractal

Interestingly, yesterday’s tweet by another cryptocurrency market analyst seems to confirm the fractal analogies from 3 periods of Bitcoin’s history. @TechDev_52 pieced together the structure of BTC price action that took place around the middle of the previous 2 bull market. In total, he analyzed 3 periods of BTC correction – including the current one – whose similarity suggests a fractal structure.

Source: Twitter

On each chart, we notice:

  1. A decline in the BTC price combined with a downtrend on the RSI (green line).
  2. A macro bottom in the market combined with a breakout from the downtrend on the RSI (red circle).
  3. Consolidation of the price after the breakout and consolidation of the RSI (yellow).
  4. Continuation of the bull market (blue arrow).

An additional confluence on these fractals is the 1.272 Fib external retracement level on a logarithmic scale. This is the area measured for the entire bear market that preceded each bull market. In all three cases, it seemed to provide support and mark a macro bottom in the BTC market.

Conclusion

Fractal analysis is just one of the tools used in technical analysis. Taken in isolation from other macro market indicators, it provides an interesting geometric exercise, but cannot serve as a sufficient argument for investment decisions or price predictions.

Nevertheless, if the cyclical nature of the cryptocurrency market remained intact, then the fractal self-similarity of the long-term BTC chart may be relevant. If so, there is a chance for a continuation of the bull market in this cycle and the realization of the double peak scenario.

Admittedly, the $250-350k range sounds ultra-optimistic at this point. However, Bitcoin likes to surprise with volatility – both positively and negatively.

What do you think about this subject? Write to us and tell us!

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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PhD and an assistant professor at an international university in Lublin, Poland. Spent 10 years studying philosophy of nature and sport science. An author of 4 books and two dozens of scientific articles. Now, he is using his mind for the benefits of the cryptocommunity. Technical analysis enthusiast, Bitcoin warrior, and a strong supporter of the idea of decentralization. Duc in altum!

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Source: https://beincrypto.com/bitcoin-btc-fractal-suggests-rise-to-250-350k-by-2021/

Blockchain

People’s payment attitude: Why cash Remains the most Common Means of Payment & How Technology and Crypto have more Advantages as a Means of payment

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Consumer payment attitudes examine how they utilize cash and non-cash payment methods across the world. Payments made in cash are still the most frequent however people have started exchanging Bitcoin for cash in transactions. While individuals tend to adjust to their present circumstances. During the pandemic, for example, customers had to change their behaviors. Consumers have grown to be much more digitally savvy and environmentally conscious than they were before.

Is cash, however, really obsolete? Is the public ready to accept digital payments as the norm, or will paper money and coins continue to play a significant role in our daily lives? Cash payments, in our opinion, will always be king. Having cash will not make you run around for instance if you have to exchange bitcoin for cash if you must perform that transaction in cash.

Continue reading to learn about the benefits of cryptocurrency and why it’s inferior to cryptocurrencies.

Advantages of Cash Payments

  1. Generally accepted

When making minor transactions, businesses in nations like the United States would gladly accept cash instead of other means of payment.

  1. It comes in handy in moments of emergency

In cases of emergencies, cash will come in very handy. For example, if you’re traveling, you’ll need money, particularly if you’re going overseas. Apart from the fact that cards aren’t accepted everywhere, you run the risk of being mugged, having your debit card eaten by an ATM, and having other mishaps happen to you. A little bit of cold, hard cash will get you out of virtually any trouble. At that point looking for where to exchange bitcoin for cash will be extremely difficult.

  1. Your transactions are kept confidential

Cash is preferred by thieves because it is difficult to track. However, some law-abiding individuals who cherish their privacy prefer cash payments because of the anonymity they provide. As an added security measure, credit card issuers and retailers are required by law to share customer purchase data with other parties, including marketers.

Benefits of Cryptocurrency

1.      Transactions

Using cryptocurrencies as a medium of exchange has the benefit of eliminating the need for a middleman, for example, if you want to exchange bitcoin for cash take place on a peer-to-peer networking framework. As a result, audit trails are easier to create, people are less confused about who should pay what to whom, and transactions are more transparent since both parties know who they are.

2.      Asset Transfers

The crypto-blockchain ecosystem may be used to make specialized forms of transmission more accessible.

3.      Easier International Trade

A country’s exchange rates, interest rates, transaction fees, or other taxes do not apply to cryptocurrency transactions, even if it is widely acknowledged as legal money at this time.

International transfers and transactions may be carried out without problems due to currency exchange rate volatility and the like thanks to the peer-to-peer mechanism of blockchain technology. You can choose to exchange bitcoin for cash with someone in another country or continent.

4.      Individual Ownership

Even if you have outsourced administration of your cryptocurrency wallet to a third-party provider, you remain the only owner of your private and public encryption keys, which make up your crypto network address. Whenever you wish to exchange bitcoin for cashor any other crypto, you will be solely in charge.

5.      Strong Security

As with “charge-back” transactions permitted by credit card issuers, once a crypto transfer has been approved, it cannot be revoked. To protect against fraud, buyers and sellers must agree in advance on refund policies in the case of a mistake or return policy.

The last defense against fraud and account manipulation is the use of strong encryption methods across the blockchain and cryptocurrency transaction processes. These techniques also guarantee customer privacy.

  1. Payments made using Bitcoin may be made on the go.

Using crypto as a payment method requires just anybody with an Internet connection. In other words, customers may buy products without going to a bank or a shop by simply exchanging their Bitcoin for cash if the seller allows cryptocurrency transactions. Personal information is not required to complete any purchase, in contrast to online payments made using a U.S. bank account or credit card.

Conclusion

There are still obstacles in the way of a cashless society. Take the fact that millions of people still depend significantly on cash. Eliminating it may cause difficulties. Underprivileged, handicapped, and elderly individuals are particularly at risk. These people may be more vulnerable to financial exploitation, social isolation, and debt if their nation makes the switch to a cashless society too fast. It will be very hard for these sets of people to exchange bitcoin for cash because of different barriers.

People who are most at risk of being left behind by technological advancements must be included in attempts to make society genuinely cashless. How will you expect them to exchange bitcoin for cash? They will be completely left out.

Source: Plato Data Intelligence

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Blockchain

The Most Profitable Cryptocurrencies on the Market

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Cryptocurrencies have recorded massive expansion in 2021. There’s no denying the fact that his year will definitely go into history books as one of the most ‘fruitful’ for these digital assets. The number of crypto traders has increased massively and currently, there are millions of people who are trading or are in possession of cryptocurrencies.

If you are thinking of joining the trading movement, you need to understand the fact that the crypto market is extremely volatile and everyday events can have massive impacts on their price. With that being said, we wanted to devote a bit of time to new traders who are looking to invest and make money off cryptocurrencies by naming the most profitable cryptocurrencies on the market today.

Binance Coin

Binance Coin is a digital asset that is often overlooked; however, it has massive value. Its current value is around $500, which is a solid price, but here’s where it gets better. As you may have concluded by now, this cryptocurrency is native to one of the world’s most reputable exchange platforms – Binance.

Now, you may think, there are a handful of other cryptocurrencies that have a higher value than Binance Coin, but here’s why you should consider trading with Binance Coin, especially if you have registered an account at Binance. The transactions with this cryptocurrency are far safer and faster on the platform, but what’s most important – the fees are much lower.

Ethereum

Next up, we have a cryptocurrency that many refer to as Ethereum. Before we unveil its price, let us give you a quick lesson. Ethereum is the name of the decentralized network in which the cryptocurrency named Ether can be traded. So, what you are looking for is Ether.

By market capitalization, Ethereum is the second-largest cryptocurrency in the world, falling behind Bitcoin. The reason why you should consider trading with Ether is that the open-source blockchain (Ethereum) focuses on this cryptocurrency and it can provide you with access to many other cryptocurrencies and NFTs, which proved to be a massive success in 2021.

Currently, Ether is at its highest value in history as it has a price of around $3,800.

Bitcoin

Finally, we have the cryptocurrency that started the whole movement – Bitcoin. Bitcoin was established in late 2008 and gained massive recognition in 2014. After reaching an all-time high at the time in 2017, it dropped in a matter of few months and no one believed that it can reach a second peak.

Not only did it manage to do that, but 2021 resulted in 2 spikes of its value. In April, Bitcoin peaked at over $60,000 and then, it dipped. However, after numerous experts indicated that Bitcoin will catch a second wind in 2021, many investors decided to put their money on the line and they didn’t do wrong.

Currently, Bitcoin’s value is over $62,000 and what’s better, is the fact that experts are convinced that it has the potential to rise to $100,000 by the end of the year. At the moment it’s one of the most wide spread cryptocurrencies in the world. Many industries have to deal with Bitcoin. Banking, retail, gambling. Online casinos receive bets made with cryptocurrency and allow withdraw winnings to Bitcoin wallet. You would be surprised how many gambling platforms accept crypto. To learn more about it visit our partners site Exycasinos.

Source: Plato Data Intelligence

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What Is the Best Crypto IRA for Me? Use These 6 Pieces of Criteria to Find Out More

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Are you considering investing in cryptocurrency? The cryptocurrency industry holds massive future potential, which is why it has attracted millions of investors in recent years. In fact, most cryptocurrencies in the top 10 have gained investors 1000% or more returns in the last few years.

That said, investing in crypto can often be expensive and cumbersome, which is why you need a crypto IRA.

Basically, a crypto IRA is a special kind of individual retirement account that allows you to invest in cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Stellar Lumens. A crypto IRA saves you big time on taxes and diversifies your portfolio.

Now, there are different crypto IRAs in the market. So, choosing the best one can be confusing. If you want to find the best crypto IRA here are six factors to look for:

1. The Charges Involved

When comparing different crypto IRAs, you want to first look at the fees.

Fees are not quite standard, and different custodians charge varying prices. You want to be sure you understand the various costs you’ll pay for holding an account with a particular provider.

Most companies usually charge a fixed amount for account setup, an annual maintenance fee, and a small commission on any trades you make.

Remember, not all providers state their prices upfront, and you may need to contact them for fee disclosures.

2. How Accessible the Crypto IRA Is

You also want to go with a crypto IRA that’s available in your country or state. Some providers may not operate in some areas, and it’s good that you have this information up front to help you narrow down on who to go with.

While at it, you can also test out the customer service to make sure that it’s not only available but reliable too, in case you need help along the way.

3. Ease of Use

The crypto IRA platform should be at least easy to understand and navigate. Essential features such as account funding and buying or selling options should be easy to locate even for beginners. A complicated account can make investing a real headache.

4. Variety of Cryptocurrencies

The number of cryptos you can invest in will vary from one crypto IRA to another. So, depending on what you’re working with, go for an account that allows different cryptocurrencies. The idea is not to go for something that limits you so much as you may want to diversify your portfolio with various cryptos later.

5. Funding Options

You’ll, of course, need to load fiat money into your account to buy cryptocurrency. So, check that the account you’re considering offers favorable funding methods. The best crypto IRAs allow you to connect to your credit or debit card to transfer money directly.

6. How Security Is It

With cybercrime getting more advanced, you want to ensure your crypto investment is safe from online attacks. So, look into the security measures that a provider uses before making any commitments.

Notable security measures in crypto include data encryption and two-factor authentication.

Looking for the Best Crypto IRA? Make Sure It Meets All the Above Factors

Finding the best cryptocurrency IRA is very easy if you know what to look for. The best crypto IRA providers will definitely match all six criteria listed in this article so consider these pointers and remember to take your time selecting a crypto IRA you’re comfortable with.

Source: Plato Data Intelligence

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Blockchain

What does swapping crypto mean?

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Has the number of cryptocurrencies ever piqued your interest? Are we talking about a couple of hundred here? Maybe a zillion people? According to CoinMarketCap, that number is now well over 7,000. With so many options, you may want to test a new cryptocurrency at some time. However, how do you go about doing it?

Good news, then! Making a switch will allow you to test out a different cryptocurrency with ease. Swapping is the process of swapping one coin for another. In other words, how does it all work?

Let’s assume you have some

Ethereum, but you’d like to have Bitcoin. Certain services are available to assist you with this. Swap service providers allow you to trade your Ethereum for Bitcoin, with a value close to the actual exchange rate. To put it simply:

Why would I want to swap?

Now you know what it means to exchange cryptocurrency. On the other hand, why on earth would you want to? Anyone’s motives for wanting to swap their crypto assets for anything else are wide open. So, without further ado, here we go.

Profiting

Making money, that’s right. It’s a hit with everyone. Trading cryptocurrencies have the potential to bring you a sizable return because of how rapidly their prices can shift. You might make a lot of money by trading your crypto at the appropriate time if you are timing the market perfectly and are a little bit lucky.

Increasing your investment options by utilizing diversification

Those sudden price adjustments, on the other hand, are not to everyone’s taste. In general, diversification is seen as a valuable tool for reducing the impact of risk. Having a diverse portfolio of cryptocurrencies may help mitigate the effects of price fluctuations.

A source of ongoing revenue

Wouldn’t it be great if you could receive money for doing nothing? Staking is a method of earning additional crypto without having to do any work on your part. You might try this out by exchanging some of your bitcoin for fiat currency.

But be on the lookout!

Trading cryptocurrency is inherently hazardous, even if you don’t consider security issues. Remember how we said that by timing the market right, you might make a significant profit? If you’re not careful, you might suffer losses of all sizes. Don’t invest or trade money you can’t afford to lose, and do your homework before you get involved.

Additionally, there is generally a charge associated with trading bitcoins. You should expect a somewhat lesser return on your investment.

What is 123swap?

123swap offers an ecosystem of products and services that enables consumers to swap, keep, send, receive, earn, and invest tokens across various chains in a single place of business. To remove difficulties such as complex interface, hidden fees, and a time-consuming registration procedure, the platform has designed its conversion method to simplify the process for the end-user.

Why 123swap?

Users can pick from among more than 500 cross-chain liquidity pools (Ethereum, Binance, Polkadot, and many more). In addition to supporting the most popular protocols, the platform also offers the lowest costs and the highest annual percentage yield (APY) (Annual Percentage Yield).

123swap will differentiate apart from other DeFi platforms thanks to the following features:

In the Smart Economy, 123swap is a prominent crypto swap protocol that enables users to – Swap favoured assets in several chains; hold them; send them; receive them; earn from them; and invest in them. In this approach, crypto assets may be exchanged between peers without the need to put their faith in a third-party custodian or counterparty. The platform offers non-custodial services and aims to provide optimum safety, ease, and comfort for its users. Customers may browse all of the swaps offers gathered from the most important crypto exchanges in one location.

The platform’s goal is to develop a stronghold community. Members of the community will be able to make essential choices on things like team tokens vs. advisory tokens, lock length, and so on through a fair voting mechanism.

Problems solved by 123swap

Exchanges performed by hand are old-fashioned and time-consuming. By utilizing smart contracts, the platform will streamline and automate the swapping process. Smart and autonomous financial management will be available in one location thanks to the cross-chain smart contracts. The platform would promote decentralized financial management via smart contracts. As a result of its technological innovations, 123swap is poised to surpass the competition, improve speed, and establish itself as the world’s leading exchange.

Final Thoughts

Swapping is the process of swapping one coin for another. Certain services are available to assist you with this. You might make a lot of money by trading your crypto at the appropriate time. If you’re not careful, however, you might suffer losses of all sizes. 123swap is poised to surpass the competition, improve speed, and establish itself as the world’s leading exchange.

The platform would promote decentralized financial management via smart contracts. Users can choose from among more than 500 cross-chain liquidity pools (Ethereum, Binance, Polkadot, and many more).

Source: Plato Data Intelligence

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