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Holo(HOT), BitTorrent(BTT), Polkadot(DOT) Price Analysis – Eyeing New High Records!

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The post Holo(HOT), BitTorrent(BTT), Polkadot(DOT) Price Analysis – Eyeing New High Records! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

According to experts, the Cryptocurrency market is at a deflection point now. They believe that the trend that is set from now on will continue for quite some time. So are some of the currencies, such as Holo(HOT), BitTorrent(BTT), Polkadot(DOT). If the currencies sustain the confidence of investors, then the crypto world is going to …

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According to experts, the Cryptocurrency market is at a deflection point now. They believe that the trend that is set from now on will continue for quite some time. So are some of the currencies, such as Holo(HOT), BitTorrent(BTT), Polkadot(DOT). If the currencies sustain the confidence of investors, then the crypto world is going to flourish.

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This article provides a summary of price analysis of digital currencies such as HOT, BTT and DOT. The year by far has been the best of Alt Seasons, and forecasts are that it is going to be the same for at least some time.

Holochain(HOT) Price Analysis

HOLO(HOT) or Holochain is a currency that has delivered multibagger returns. From $0.000709 in January 2021 to hitting ATH of $0.0281 on April 3, 2021, it has grown exponentially. 

HOT Price rose a staggering 43.42% in the last 24 hours. With LTP of $0.026, the Market capitalization of HOT is $4,396,237,721. The last 24-hour transactions worth $2,550,240,387 were carried out, with 266.85% increase. HOT currently has 169,164,199,065 HOT in circulation.

The price of HOT has gone through strong accumulation during its consolidation phase, hence building great support. The major supports are $0.0231 and $0.019. But volatility was observed after prices hitting ATH, which can be suspected as FOMO to book profits. 

Nevertheless, the price of HOT seems to be holding fine below its ATH. There is also a good chance that ATH acts as a Resistance level. Bollinger bands are being tested as the price is fluctuating heavily between the upper and lower Bollinger bands.

Support: $0.0231 and $0.019

Resistance: $0.028

RSI: 60

MACD: Bullish

BitTorrent (BTT) Price Analysis

The BitTorrent token(BTT) price has been volatile since March and looks like BTT is all set to carry the bullish momentum into April. Since then, it has continuously maintained its bull levels. The BTT price rocketed to $0.007825, with a >30% increase. It is also the ATH level of the currency. 

The 30 minutes chart monthly chart shows that a sell-off session concluded. It appears that the HODLers want to continue HODLing the BTT. This will lead to a further jump in the prices.

The support levels may get formed at $0.007 and $0.0064 if the profit booking prevails. It should not impact the price much as the crypto markets are extremely bullish in general.

While penning this article, BTT was trading at $0.007334, just short of the ATH levels with a 28.91% jump from the last 24 hours. The likely resistance level is going to be $0.00782. With this rise, BTT boasts a market capitalization of $7,323,106,924 with the current supply of 989,980,422,741 BTT. The trades of the last 24 hours exceeded $5,142,658,128 in value with an increase of 82.78%.

The RSI level at present is 62. MACD also suggests bullish momentum with the rise. This consolidation will be a clear indication that if the currency sustains over $0.0066 levels for the next week, an upside momentum will follow.

The Fibonacci charts indicate the prices consolidating at 0.786. Hence it will serve as a buy level for investors. It will also be interesting how the investors react to this rise, as many of the long time investors may start booking profits.

Resistance: $0.007825

Support: $0.007 and $0.0064

RSI(14): 62

MACD: Bullish

Polkadot(DOT) Price Analysis

Polkadot has broken its previous ATH and has hit a new ATH of $46.85 on April 3, 2021. This event occurred after the announcement of Enjin raising $19 Million to build Polkadot-based NFT Blockchain.

At the time of this analysis, the price was pivoting near the $45.13 mark with an 18.47% jump in 24 hours. DOT boasts a market capital of $41.63 Billion and the sudden increase in the volume of Polkadot of above 72.62% in trading volumes, with the value reaching $4.529 in just the last 24 hours.

With increased trading volumes, it is almost certain that prices will hit the $50 mark if there is no additional bear pressure. 925,513,687 DOT are in circulation, out of 1,061,548,023 DOT, indicating that the markets are more active than ever. 

MACD levels indicate bullishness along with the parabolic SAR. RSI levels are closing 55 indicating a good overhead for price action. The prices are holding up above the upper levels of the Bollinger band, if they sustain at the same levels for a couple more trading sessions and no selling pressure, there will be a buying spree.

Also, there is a chance for breakdown to take support at the ascending line in case the breakout does not hold above the resistance levels.

Resistance levels: $46.7, $50

Support Levels: $44, $40

RSI(14): 55

MACD: Bullish

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinpedia.org/price-analysis/btt-hot-dot-price-analysis-april/

Blockchain

Bitcoin’s Halving May Not Pump Price Like Last Time – Here’s Why It Doesn’t Matter

With sideways trading, a bearish sentiment, and a slowing two months, Bitcoin has seen a slump from $14,000 USD highs to under $7,000 USD in recent weeks. With the Bitcoin Halviening less than 6-months away, will the market change pace and fuel the bull run that we’ve all been hoping for? While camps are divided, … Continued

The post Bitcoin’s Halving May Not Pump Price Like Last Time – Here’s Why It Doesn’t Matter appeared first on CryptoCanucks.

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With sideways trading, a bearish sentiment, and a slowing two months, Bitcoin has seen a slump from $14,000 USD highs to under $7,000 USD in recent weeks. With the Bitcoin Halviening less than 6-months away, will the market change pace and fuel the bull run that we’ve all been hoping for?

While camps are divided, here’s why we believe this Bitcoin halving will be beneficial for the market and help propel the industry to new heights.

bitcoin clock

Understanding the Potential Downside:

Bitcoin halvenings occur every 210,000 blocks. This is, on average, about every four years and was likely designed as a way to maintain a stable circulating supply and avoid hyperinflation.

When this happens, a miner’s reward per block is cut in half. As the reward level for a block decreases and difficulty for the block increases (as there are more miners competing for a smaller block reward), opportunistic miners are effectively priced out of the competition. The idea is, theoretically at least, that low-end miners cannot afford to continue mining.

As rewards for the block decrease, miners need an ever more efficient way of competing in the marketplace. Those that cannot compete, sell-off Bitcoin in an effort to cut losses and take their gains.

Historically this has only happened after Bitcoin halvenings after reward blocks are cut in half. The worry is that even with low prices now, after the halvening there will be additional selloff because of reduced block rewards, and there may not be a significant upward move for Bitcoin for months to come.

donedonedone

(source: Digital Asset Research – statistical model, not price predictions)

 The above chart as an example shows what happens with the price (light blue line) after halvenings (dotted red lines) occur. What we’re seeing here, is that there was no price increase after the last halvening. Instead, the price started increasing in the middle of the cycle, suggesting that the increase may have already been priced in. Or said another way, that the price increase from $3,000 levels earlier this year, up to $12,000 levels already represent potential gains that might have otherwise occurred after the halvening.

But this is only part of the story.

Reviewing the upside:

Weeding out inefficient miners effectively helps boost the long-term health of the overall market. Both halvenings and low prices help drive this. With continued low prices, this might actually mean that we’ve already priced in ‘miner reduction’ simply because of the current sluggish Bitcoin prices. Only the most efficient Bitcoin miners can sustain a drop in price from $14k to current $7k levels. Many miners have already been forced to shut down their rigs.

Which could mean that the halvening may not force as much sell-off as initially thought.

If it does force additional sell-off, there could be a temporary downslide before a strong bullish movement forward. If it doesn’t force additional sell-off, the halvening will only support a strong bullish trend as supply is limited, rewards are halved, and only the strongest miners remain.

Industry Strength

If we take a step back and look at long-term projections, both cases are more than positive for the industry as a whole. While short-term gains may suffer in the worst of cases, the Bitcoin halvening should help drive a long-term bullish trend.

A simple supply and demand scenario is the easiest explanation, although there are many more nuanced theories.

As halvening difficulty increases, supply is reduced. As supply is reduced the cost of each Bitcoin is likely to rise due to scarcity. Additional factors, such as global economics, increased awareness about cryptocurrency, and increased demand for Bitcoin itself should add fuel to a bullish rally.

It has yet to be determined, and the narratives surrounding the halvening are mixed at best. Yet when we look at the long term possibilities on the state of the industry, two things are very clear.

One – cryptocurrency is here to stay. And two – in the long-run Bitcoin will see a bullish movement forward.

Are you ready to take advantage of the future?


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Disclaimer: CryptoCanucks.com is not intended to provide tax, legal or investment advice, and nothing on CryptoCanucks.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by CryptoCanucks.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.

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Source: https://cryptocanucks.com/bitcoins-halving-may-not-pump-price-like-last-time-heres-why-it-doesnt-matter/

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Blockchain

EOS and YFI lead altcoins higher as Bitcoin and Ether bounce from swing lows

YFI, EOS and REV notched double-digit rallies as altcoins capitalized on the oversold bounce in Bitcoin and Ethereum price.

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The markets were mixed on May 11 as Bitcoin (BTC) recovered from Monday’s drop to $53,000 by bouncing to $56,862 but the digital asset is still finding resistance at the $57,000 level.

Ether (ETH) also worked its way back above $4,100 but according to Cointelegraph analyst Marcel Pechman, the bullish sentiment for Ether seen in recent weeks has begun to fade as traders question whether new all-time highs will be sustainable in the short term.

Data from Cointelegraph Markets and TradingView shows that Bitcoin bulls defended a late-night sell-off on May 10 that briefly dropped the price of BTC below $54,000 before dip buyers gobbled up sell orders and lifted the price back above $56,000.

BTC/USDT 4-hour chart. Source: TradingView

blue-chipWhile the blue chip cryptocurrencies have been stuck in a sideways market, canine-themed meme coins including Shiba Inu (SHIB) and Dogelon Mars (ELON) have followed Dogecoin’s (DOGE) lead and seen their prices explode for triple-digit gains.

Ethereum bulls take a brief breather

Bitcoin’s range-bound trading between $50,000 and $60,000 in recent weeks can partially be attributed to the rising price of Ether, which has caught the attention of institutional investors looking for exposure to more than just BTC. The growing demand for Ether can clearly be seen in the price action of the ETH/BTC pair.

ETH/BTC 4-hour chart. Source: TradingView

According to David Lifchitz, managing partner and chief investment officer at ExoAlpha, Ether’s recent all-time high was in part due to a “continued rotation away from Bitcoin” which helped push the price of Ether “as high as $4,214 before suddenly puking down to $3,658 (-13% in an hour).”

The downturn in the crypto market coincided with a selloff in the U.S. equity markets that hit the tech-heavy NASDAQ index especially hard. Lifchitz noted that Bitcoin and the other cryptocurrencies were eventually able to “bounce back half of the loss from the high.”

While the sell-off “could be explained by some correlation trades leading to a quick profit-taking in cryptos”, Lifchitz also pointed to the possibility of a more organized selloff where some traders took advantage of frothy market conditions.

Lifchitz said:

“It could also have been an organized selloff as Ethereum was at its ATH after a torrid ride (i.e. ETH was vulnerable to a quick drop) in order to spook the weak hands and shake them off, triggering a cascading selling effect, before buying back ETH on the cheap as shown by the even higher volume to buy right after the selloff.”

Lifchitz highlighted that just:

“Twenty-four hours later, Bitcoin is back in the middle of its twilight zone ($50,000 to $60,000) and Ether is slowly grinding higher above $4K. So all in all, it was just an ordinary day in crypto land.”

Further insight into the market moves over the past week was offered by Ben Lilly, co-founder and analyst at Jarvis Labs, who highlighted an increase in on-chain profit taking over the last week that had “lots of capital turning over throughout altcoins.”

Lilly said:

“As capital made its way from coin to coin, profits were being realized as Bitcoin traded sideways. What we saw on May 10 was the end of this phase.”

Altcoins lead the market higher

The overall altcoin market shook off the bearish moves seen in the larger-cap cryptocurrencies. EOS led the day with a 50% jump which took the price to $13.92  after Block.one announced that it had secured $10 billion in funding to launch an EOS-based cryptocurrency exchange named Bullish Global.

Daily cryptocurrency market performance. Source: Coin360

Yearn.finance (YFI) managed to break out of the trading range it had been stuck in to put on a 58% rally to a new record high above $80,000, while the price of Revain (REV) exploded 130% to reach a multi-year high at $0.049.

The overall cryptocurrency market cap now stands at $2.474 trillion and Bitcoin’s dominance rate is 42.8%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Source: https://cointelegraph.com/news/eos-and-yfi-lead-altcoins-higher-as-bitcoin-and-ether-bounce-from-swing-lows

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Blockchain

The challenges with designing a CBDC, explained

Central bank digital currencies face a tricky trilemma when it comes to ensuring they are well designed. What’s the answer?

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An identity-based, meta-blockchain can achieve all three design goals of identity, privacy and programmability.

While blockchain systems can be structurally decentralized, the operation itself can be very much centralized and sequential.

The problem lies in how transactions cannot be processed in parallel — and multiple smart contracts cannot be operated simultaneously.

A meta-blockchain that can operate smart contracts in parallel could be the answer here, as it can ensure that a user’s information is kept secret at all times.

SovereignWallet Network (SWN) Global believes it has found the solution for tackling the issues that CBDCs face, and aims to deliver self-sovereign financial services to millions of people.

The fourth-generation network inherits all the advancements in blockchain and digital currency technologies — and the project launched the MUI MetaBlockchain mainnet on January 3.

Developers say MetaMUI can help achieve the perfect equilibrium in the CBDC design trilemma, helping the next generation of digital assets to be rolled out smoothly.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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Source: https://cointelegraph.com/explained/the-challenges-with-designing-a-cbdc-explained

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Blockchain

Polkadot, Cosmos, Bitcoin Cash Price Analysis: 11 May

Polkadot’s $28.6-support has held up during recent pullbacks and the same would likely be called into action in the coming days. Cosmos inched towards its first line of defense around the $23-mark. La

The post Polkadot, Cosmos, Bitcoin Cash Price Analysis: 11 May appeared first on AMBCrypto.

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Polkadot’s $28.6-support has held up during recent pullbacks and the same would likely be called into action in the coming days. Cosmos inched towards its first line of defense around the $23-mark. Lastly, sellers were likely to prevail in a battle against buyers for the Bitcoin Cash market.

Polkadot [DOT]

Source: DOT/USD, TradingView

At the time of writing, Polkadot traded at $37, down by nearly 7% in the last 24 hours. Its candlesticks on the daily charts slipped below their 20-SMA (red) and 50-SMA (black), while its technicals indicated further southbound action. Since mid-February, bulls have countered multiple pullbacks around $28.6. This area has proved to be a buy zone but a breakdown could severely hamper DOT’s recovery attempt towards record levels. If this area is breached by the sellers, a 25% retracement was possible all the way towards $21.1 and the 200-SMA (green).

MACD line was in danger of falling below the equilibrium mark and its histogram noted some bearish momentum. The Supertrend Indicator presented a sell signal but this can be flipped in case of a rise above $43.

Cosmos [ATOM]

Source: ATOM/USD, TradingView

Similar to its counterpart DOT, Cosmos also saw sharp losses over the last 24 hours. The daily timeframe highlighted several support areas, but the $21-23 region was of particular significance as it clashed with the 20 (blue) and 50 SMA (yellow). Another prominent buy zone lay around $16.7. If these areas capitulate under selling pressure, ATOM could be in for an extended bearish U-turn. This outcome would only be amplified if $13 is also ceded to the bears.

After peaking in the overbought zone, Stochastic RSI noted a sharp drop towards 40, underlining an incoming correctional phase. According to Chaikin Money Flow, capital inflows remained healthy and could act as a buffer against a fall below the long-term moving average.

Bitcoin Cash [BCH]

Source: BCH/USD, TradingView

Bitcoin Cash’s candlewicks on May 10 suggested a great degree of indecision in the market. While one end on the candlewick touched a high of $1,570, the other end dropped as low as $1,200. Such disparity suggested that BCH was being pulled in either direction by the sellers and buyers. With a broader market pullback currently in effect, it was likely that the sellers came out on top. The 4-hour timeframe showed that BCH found respite at the 50-SMA but a breakdown over the coming sessions could trigger a sharp sell-off towards $944.

MACD line lost distance on the Signal line and highlighted bearish market momentum. RSI maintained a bullish territory, but a dip below 50 was expected.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/polkadot-cosmos-bitcoin-cash-price-analysis-11-may

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