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DOGE Co-founder Reveals the Reasons Behind its Price Rise

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Billy Markus, who created Dogecoin back in 2013 with Jackson Palmer has taken to Twitter (where he dwells as “Shibetoshi Nakamoto”) to share his take on the recent Dogecoin rally.

According to him, the Dogecoin market is hugely driven by emotion and sentiment. The price of DOGE in the market is moved by people’s decisions, made for their own personal reasons.

What is Moving the Price of Dogecoin in the Market? Co-founder Answered

Billy Markus developed the meme-coin DOGE back in 2013 as an imitation of Bitcoin back. The Dogecoin that was changing hands as low as $0.0026 last month is now sitting at $0.61. According to the statistics, DOGE is the fourth digital asset of the market. 

In his recent interviews with Bloomberg the founder and CEO of Galaxy Digital, Mike Novogratz, stated that,

“Dogecoin may be favored by millennials and generation Z since buying it is similar to showing the middle finger to the system. This is reminiscent of the craze over Gamestop shares.”

However, he cautioned against Dogecoin, stating that 

“There are no development upgrades for this coin, nor is there any money from financial institutions going into it.”

DOGE Wave Take Further Rise This Year

DOGE has always been seen as Elon Musk’s favorite. A significant price surge can be seen due to Elon Musk Tweets.  

The “DOGE influencer” was the first one to call it the “people’s currency,” then promised to put “literal DOGE on the literal Moon” via SpaceX. 

From the latest, Musk is preparing to make an appearance on “Saturday Night Live,” i.e. Today this weekend.

According to reporter Kate Rooney

“The newest DOGE investors particularly see Musk’s tweets as the main price pumper of the meme-coin. DOGE is making its way into online gambling markets as people are making bets about what Musk will talk about on SNL and whether it will be his favorite Shiba-Inu cryptocurrency.”

READ  Elon Musk Admits Bitcoin Cash Offers Much Lower Fees than Bitcoin

#DOGE co-founder Billy Markus #Dogecoin (DOGE) #Elon Musk DOGE support

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/doge-co-founder-reveals-the-reasons-behind-its-price-rise

Blockchain

DGB Technical Analysis: Support Levels of $0.0489, $0.0468, and $0.0441 Will be Tested

DGB price has tested and fallen below the 23.6% FIB retracement level of $0.0503. It may soon fall below the FIB retracement level of $0.488. Thereafter, we have to wait and watch if the price retests and breaks out of these levels.

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DigiByte is an open-source blockchain creation platform. It was started in 2014 on the nodes of bitcoin. It was originally built to improve security, capacity, and transaction speed than blockchain. Also, DGB uses five separate algorithms to maintain privacy and prevent miners from getting too much power. The following DBG technical analysis will predict the price trends for the next few days:

Past Performance

On June 12, 2021, DGB opened at $0.06. On June 18, 2021, DGB closed at $0.05. Thus, in the past week, the DGB price has decreased by approximately 16.28%. In the last 24 hours, DGB has traded between $0.483 – $0.548.

https://d229noksprj98s.cloudfront.net/wp-content/uploads/2021/06/dgb-technical-analysis-support-levels-of-0-0489-0-0468-and-0-0441-will-be-tested.png

https://www.tradingview.com/x/p61sR6IE/

Day-Ahead And Tomorrow

Currently, DGB is trading at $0.0491. The price has decreased from the day’s opening price of $0.054. Thus, it seems like bears have taken control of the market.

READ  US SEC Accuses Ripple of Violating Investor-Protection Laws

The MACD and signal lines are in the negative zone. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish. Hence, the DGB price may decline further.

Currently, the RSI indicator is at 34%. It faced rejection at 52.84% and has fallen straight to this level. Thus, it indicates that the selling pressure is high in the market. We have to wait and watch if buying pressures become strong enough to bring about a bearish trend reversal.

The OBV indicator is downward sloping. Thus, selling volumes are higher than buying volumes. High selling activity will exert downward pressure on the DGB price.

In short, when we look at all three oscillators, we can say that the price may continue to fall. However, we cannot rule out the possibility of a trend reversal.

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DGB Technical Analysis

Currently, the price is below the second Fibonacci pivot point of $0.0503. If the bears remain strong till day end, then the price is likely to fall below the first, second, and third support levels of $0.0489, $0.0468, and $0.0441, respectively.

The price has tested and fallen below the 23.6% FIB retracement level of $0.0503. It may soon fall below the FIB retracement level of $0.488. Thereafter, we have to wait and watch if the price retests and breaks out of these levels.

#DGB #DigiByte

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/dgb-technical-analysis-support-levels-of-0-0489-0-0468-and-0-0441-will-be-tested

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Is Cardano Price Poised For 500% Rally? ADA Price to Hit $10 By 2021 End

ada price jump (1)

The post Is Cardano Price Poised For 500% Rally? ADA Price to Hit $10 By 2021 End appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Cardano Price Massive Rally Ahead! Bitcoin fell on Friday, surprising investors who had anticipated a rebound. As Bitcoin prices began to fall, Ethereum also followed suit. Cardano price has been falling in tandem with the flagship crypto, and it is on the verge of more declines. ADA began the day with a mixed performance. It …

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Cardano Price Massive Rally Ahead!

Bitcoin fell on Friday, surprising investors who had anticipated a rebound. As Bitcoin prices began to fall, Ethereum also followed suit. Cardano price has been falling in tandem with the flagship crypto, and it is on the verge of more declines.

ADA began the day with a mixed performance. It must find support if it is to gratify optimistic investors by breaking over resistance at $1.60. There is lower-level support at $1.20 and $1.40, and traders will need to wait for a buying signal before entering.

This week, the first-ever Plutus smart contract went live on testnet, as part of Cardano’s continuous enhancements. While Cardano’s improvements have been positively received, ADA has been struggling due to market corrections. The network went through the Mary hard fork in March, bringing native multi-asset functionality to the Cardano ecosystem. 

Ultra Bullish Predictions for ADA Price!

In a post to his 134,000 Twitter followers, the crypto expert known as Capo stated that he is quite optimistic about ADA. He predicted last Sunday that Bitcoin, Ethereum, and Cardano are still “very likely” to reach $100K, $10K, and $10 by the end of the year. The trader went on to share that ADA is one of his biggest crypto holdings, and considers it to be superior to Bitcoin and Ethereum.

Capo forecasts a 156% increase in Bitcoin, a 302% increase in Ethereum, and a huge 557% increase in Cardano. ADA, which began the year with a positive trend, reached an all-time high of $2.4 in May 2021, before plummeting dramatically when the market fell.

The crypto influencer, who has been super bullish on Cardano for quite a while, said that $ADA remains one of the largest holdings in his portfolio.

The Bitcoin Dominance Index, according to Capo, may continue to decrease until October. This downward trend may force altcoins to make significant gains in the coming months. Because most ALTS have had large market corrections against Bitcoin in recent weeks, Capo believes that a pullback presents an opportunity to purchase the dip.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinpedia.org/price-analysis/cardano-price-ada-price-massive-upswing/

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29% of Crypto Investors in the UK Check Their Balance Every day, Study Finds

According to the FCA, every day, more and more people invest in crypto. Still, fewer and fewer people understand what they are investing in.

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People in the UK are more interested in Bitcoin and crypto today than in any other year, including 2017, when the digital asset boom was at its peak.

According to a UK’s Financial Conduct Authority survey, about 78% of adults have now heard of cryptocurrencies, and more than 2.3 million people in the UK hold or have owned cryptocurrencies at some point.

Crypto is a Serious Investment

The way British people think about crypto has changed dramatically. The FCA mentions that investors no longer see cryptocurrencies as a gamble but rather a serious investment or alternative to traditional investments. The gambling option dropped 9% to 38% in popularity.

Also, people are more aware of fluctuations. The number of investors who check their balances daily increased to 29% – more than double from 13% in 2020.

The British are long-term bullish. The survey revealed that about half of cryptocurrency hodlers plan to increase their exposure trusting that “they’ll make money at some point.” However, in the face of all the new options to invest, the FCA warns that the “overall understanding of cryptocurrency has declined.”


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This figure represents an increase in the number of hodlers compared to 1.9 million last year. The FCA data is also consistent with an apparent rise in searches for information related to cryptocurrencies in the country.

Although interest in the keyword “Cryptocurrency” has dropped considerably over the past two weeks, searches for this term reached an all-time high in May, and interest is well above that of 2020 and previous years.

Google Searches for Cryptocurrency in UK. Image: Google
Google Searches for Cryptocurrency in UK. Image: Google

The FCA also found an increase in the average investment, which went from £260 to £300 in one year. That is, in theory, about $1 trillion is in the portfolios of small retail investors in Britain – leaving aside institutional investors.

One thing that remains the same is the typical profile of the cryptocurrency investor: Almost 70% of the respondants were male millennials of around 35 years old.

Bitcoin is Still The King

Bitcoin remains the favorite cryptocurrency investment for Brits, up 3% from last year. Some 66% of respondents said they held Bitcoin, compared to 35% for Ethereum, 21% for Litecoin, 18% for XRP, and 15% for Bitcoin Cash.

The FCA has been closely following the topic of cryptocurrencies for several years now. In the study, the FCA concludes that this increased interest in digital assets has been strongly influenced by the price volatility and the bullish behavior of Bitcoin over the years. Something that the rest of the cryptocurrencies tend to replicate.

Since 2020, interest in cryptoassets has reached beyond retail consumers, as institutional investors and traditional financial services firms have shown an increased appetite for engaging in the market. (…) This rise is reflected in other cryptoassets. We think this recent momentum influenced consumer responses to our research questions.

But the interest of the FCA goes beyond retail investors. The agency is also studying many aspects related to the impact and potential of CBDCs. It is also involved in the supervision of endeavors oriented to prevent and combat money laundering and terrorism and is also one of the most important public agencies involved in providing guidance to small and institutional investors that get involved with crypto.

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Source: https://cryptopotato.com/29-percent-crypto-investors-check-balances-every-day-fca/

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Canadian Elite Basketball League to Pay Player Salaries in Bitcoin

The Canadian Elite Basketball League(CEBL) announced that going forward its players will have the option to be paid in Bitcoin.

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The Canadian Elite Basketball League(CEBL) is hopping on the crypto train. In a recent announcement, the league has revealed that going forward its players will have the option to be paid in Bitcoin. The decision will make CEBL the first North American professional sports league to adopt Bitcoin for salary payments.

Canadian Elite Basketball League Partners With Bitbuy to Offer Bitcoin Salaries

The latest decision from the league follows reports of its partnership with Bitbuy, one of Canada’s leading crypto trading platforms. With assistance from Bitbuy, the league will have the facility to compensate a portion of its player salaries in Bitcoin.

While CEBL is a relatively smaller league with only six teams competing in the upcoming third season, the importance of its decision cannot be undermined. Players opting for the offer will be paid a part of their salary in Bitcoin using Bitbuy to convert the amount from Canadian dollars.

Charlie Aikenhead, vice president at Bitbuy, indicated that his company is excited about the relationship with CEBL and said “We’re proud to support homegrown Canadian sports, and to partner with the league on this first to the market initiative.” Aikenhead also highlighted that Bitbuy wants to enable athletes to secure their long-term investments through cryptocurrencies.

Meanwhile, the CEO and Commissioner of CEBL, Mike Morreale stated that “Our partnership with Bitbuy speaks to our commitment to players, and also to our forward-thinking approach to how we go about our business.” He also claimed that the league is home to some of the best players who chose CEBL over NBA for its player-first approach.

More Professional Athletes Want to Be Compensated in BTC

For its part, the CEBL credits its players for adopting crypto payments for salaries. And the league’s members aren’t the only athletes asking to be paid in BTC. The sports world has seen an increased number of professionals demanding a portion, or their entire salaries in Bitcoin. For instance, Russell Okung, a professional NFL player made headlines when he became the first North American Sports personality to receive half of his contract salary in the primary cryptocurrency.

Kimbal Mackenzie, a point guard in CEBL’s Guelph Nighthawks and winner of the 2020 Sportsmanship Award, is enthusiastic about the league’s decision and is set to participate in the first group of players opting for the BTC program. “The ability to have part of my salary go directly into an investment that I believe will appreciate greatly over the next 10-30 years is a no-brainer,” he remarked.

READ  Russell Okung Backs the Bitcoin Rewards App

#Bitbuy #Canadian Elite Basketball League #CEBL #Russell Okung

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/canadian-elite-basketball-league-to-pay-player-salaries-in-bitcoin

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