Monat: Januar 2022

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Bitcoin’s price could deflate below $30,000 in 2022, Invesco says

Invesco’s Global Head of Asset Allocation likens Bitcoin’s staggering rally in 2021 to a financial mania, saying it could deflate to see BTC reach lows of $30,000 by October.

Bitcoin’s price could drop below $30,000 this year if the crypto bubble bursts and follows historical patterns seen in other crashes, an investment strategist at Invesco has said.

According to Paul Jackson, the Global Head of Asset Allocation at the investment firm, there is a possibility of this happening as the “mania” that drove Bitcoin to highs of $69,000 in November wanes.

In his forecast of the “improbable but possible outcomes for 2022”, Jackson says the year could see BTC price eventually post a 45% dump from its peak. And with bubble crashes extending for much longer, it’s probable the flagship cryptocurrency could end up valued at less than $30,000 from around October.

„The mass marketing of bitcoin reminds us of the activity of stockbrokers in the run-up to the 1929 crash,“ the Invesco strategist said.

The reference to 1929 relates to the stock market crash that hit Wall Street beginning Black Thursday on 24 October. By the following week, Black Tuesday happened as a sharp sell-off wiped off billions of dollars from the market.

„We know how that ended and Bitcoin has already fallen to around $42,000 (as of 7 January 2022), following closely the downward path of our mania template,” he added.

Jackson said that a bubble crash template features a 45% dip that occurs over the 12 months following an asset’s peak, which he called “a typical financial mania.“

In this case, he speculated, Bitcoin price could decline to lows of $37,000-$34,000 by the end of October. He then believes a potential trajectory tracking historical bubble patterns could push BTC below the $30k level given typical booms extend their burst over a further two years.

„Hence, we think it is not too much of a stretch to imagine Bitcoin falling below $USD 30,000 this year,” he stated.

But Jackson was quick to note that the forecast could still be wrong, as was the case of last year’s prediction of Bitcoin diving below $10,000. According to him, there’s a “healthy chance” of the cryptocurrency tagging last year’s upside cycle.

Bitcoin fell below $40,000 earlier last week but quickly rebounded to test resistance near $44,000. The cryptocurrency’s price has however tracked sentiment across the broader markets.

Analysts have pointed out that Bitcoin has been trading in lockstep with stocks, suggesting a fresh decline in traditional assets could be replicated in crypto or vice versa. Since late last year, one of the macro pressures on equities has been the Fed’s indication of an interest rate hike in Q1, expected to be early March.

Bitcoin is trading around $41,685 as of writing, nearly 3% down in the past 24 hours.

The post Bitcoin’s price could deflate below $30,000 in 2022, Invesco says appeared first on Coin Journal.

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Market highlights January 18: Cardano continues to rally, oil toys with 52-week high

The crypto market is bearish as a whole. Oil prices jumped in the past 24 hours to just under $85 as it appears that output will remain tight. At time of writing, oil was trading at $84.82, just 20 cents shy of its 52-week high.

With US markets closed due to it being a public holiday, investors’ focus shifted to Europe yesterday. The EUSTX50, representing the eurozone’s 50 largest companies, ticked up 0.7%.

Top cryptos

Cardano stood out once again among major cryptos, adding almost 3% over the past 24 hours and upping its gains to 35% in the past 7 days. These gains come ahead of SundaeSwap’s January 20th launch. It will be the first decentralized finance exchange using the Cardano blockchain.

Solana, Ethereum and BNB all slid more than 2%, and Bitcoin was trading above $42,000 at time of writing.

Terra and Polygon are the biggest losers in the top 20. Both lost 10% of their value today. Near Protocol is down 9% and Chainlink and Polkadot are down 7% in the last 24 hours.  

Top movers

Most of the top 100 biggest coins by market cap have lost between 3 and 6% of their value. Cosmos is reversing recent gains with a loss of 11% today. Fantom is close behind it, down 9%. Axie Infinity has lost 10%. 

Monero has lost just under 11% so far, also backtracking on recent wins. 1inchnetwork is down 7%.  

Trending

Knight War: The Holy Trio is an upcoming semi-decentralized, play-to-earn game in the Idle Defense Genre. Its native token MRE is up 311% as launch approaches.

Telos, a superfast and scalable blockchain focused on real world use and adoption, is one of the biggest winners of the day. It added an impressive 53% to its value.

Propy is also trending. The token was built with the vision to automate the real estate sales process. Propy is up 47% in the last 24 hours.

The post Market highlights January 18: Cardano continues to rally, oil toys with 52-week high appeared first on Coin Journal.

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Telos showing strength with impressive gain of 53% in 24 hours: where to buy Telos

Telos, a superfast and scalable blockchain focused on real world use and adoption, is one of the biggest winners today, having added an impressive 53% to its value. Look no farther than this short guide for all the details about Telos, including the top places to buy the token now.   

Top places to buy Telos now

As TLOS is such a new asset, it’s yet to be listed on major exchanges. You can still purchase TLOS using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy TLOS right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the Uniswap DEX

Head to Uniswap, and ‚connect‘ your wallet to it.

4. You can now swap your ETH for TLOS

Now that you’re connected, you’ll be able to swap for 100s of coins including TLOS.

What is Telos?

Telos has a blockchain built for speed and scalability, making it the ideal network for mainstream adoption. Telos-based tokens, NFTs, and smart contracts are used for DeFi, gaming, social media apps and much more.

Telos hosts over 100 distinct applications (dApps) including Taikai, Qudo, Qubicles, Appics, Wordproof, Seeds, Zeptagram, and NewLife.

These applications take advantage of the network speed (0.5 sec block times) and scale (10,000+ TPS) as well as the robust on-chain services that Telos provides for voting, sentiment, decentralized file storage, location and much more.

The Telos EVM is planned as the top-performing and most affordable Ethereum Virtual Machine available.  

Should I buy Telos today?

Telos is performing very well now, but current and past performance are no guarantee for future such. Take all investment advice with a grain of salt and always exercise the utmost caution.   

Telos price prediction

Price Prediction is bullish on Telos. They forecast 1 Telos will trade for at least $1.04 in 2023. The Telos price can reach $1.22 with the average price of $1.07 throughout 2023.

In 2024, 1 Telos will be changing hands for a minimum of $1.49. It can go up to $1.81 with the average trading price of $1.54. The price of 1 Telos is expected to be at least $2.13 in 2025.

Telos on social media

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