Monat: April 2022

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Analyst: Recession fears could be bullish for Bitcoin (BTC)

Bitcoin has failed to strengthen above the $40K again after yesterday’s brief upside that pushed it to highs of $40,280. Today’s market action has seen BTC retreat to lows of $38,750, although the benchmark crypto currently trades just above $39,000 according to data from crypto price tracker CoinGecko.

The negative flip is also being witnessed across the rest of the market, with total market capitalisation down 1.8%. Ethereum, the second-ranked cryptocurrency by market cap is off 1.5% in the past 24 hours.

Recession fears could aid risk assets

Current struggles for Bitcoin also align with a slowdown in stocks on Friday as shares of tech giants Amazon and Apple fell after their respective earnings reports a day earlier.  The S&P 500 was 1% down in early morning trading, while the Dow Jones Industrial Average had opened 0.4% lower and Nasdaq Composite was losing by 0.7%.

The surge in volatility is likely to elevate further losses amid concerns around US Federal Reserve’s tighter monetary policies. The Fed, which meets next week, is expected to increase interest rates by 50 basis points; a factor that market observers say could impact economic recovery.

Marcus Sotiriou, an analyst at digital asset broker GlobalBlock suggests the possibility that a higher rate hike and overtightening from the Fed could steepen economic decline might present a bullish signal for Bitcoin.

In a note shared via email on Friday, Sotiriou said:

“US GDP contracted by 1.4% in Q1 2022 as recession fears heighten. This is bullish for risk assets like Bitcoin and equities in my opinion, as the Federal Reserve may become less hawkish to avoid a recession.”

The 1.4% year-over-year contraction in the first quarter of 2022 is the first time GDP has shrunk this much since Q2, 2020.

Bitcoin’s immediate outlook

Noteworthy for investors though is that the correlation between Bitcoin and stocks has increased over the past several months.

As such, declines across the equity markets arising from jitters around geopolitical turmoil and fresh COVID outbreaks could pull BTC lower. 

On the flip side, a spike in upside momentum in the stock market could also help Bitcoin break above immediate resistance levels.

The post Analyst: Recession fears could be bullish for Bitcoin (BTC) appeared first on Coin Journal.

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Top-Metaverse-Token, die Ihre Einnahmen auf die nächste Stufe bringen

  • SAND, MANA und ENJ sind solide Metaverse-Token.

  • Jeder dieser Token treibt sein eigenes Ökosystem an und hat Wachstumspotenzial.

  • Wenn sich das Metaversum weiterentwickelt, steigt auch ihr Wert.

Metaverse-Token haben zahlreiche Entwicklungen und Aktualisierungen erfahren.

Am 25. April 2022 gab The Sandbox bekannt, dass sie mit dem zweiten Teil ihres LAND-Verkaufs, der sich um den Mega City District dreht, die Kultur Hongkongs erweitern. Dies führte zu reger Aktivität im Netzwerk.

Auch Decentraland erlebte zahlreiche Updates; Am 28. April gaben sie bekannt, dass sie sich freuen, am NFTxROADS – The NFT Event in Spanien teilzunehmen und dieses zu sponsern.

Am 25. April 2022 ging Enjin Coin eine Partnerschaft mit Bit2Me Global ein, der ersten von der Bank of Spain anerkannten Kryptowährungsplattform. Es handelt sich dabei um ein Unternehmen, das einfache, sichere und schnelle Käufe, Verkäufe und Verwaltung der Kryptowährungsportfolios der Benutzer anbietet.

All diese Entwicklungen können sich positiv auf den Wert der Token auswirken.

Sollten Sie The Sandbox (SAND) kaufen?

Am 29. April 2022 hatte The Sandbox (SAND) einen Wert von 2,46 USD.

Das Allzeithoch von The Sandbox (SAND) war am 25. November 2021, als es einen Wert von 8,40 USD erreichte. Der Token war bei seinem ATH also um 5,94 USD oder um 241 % höher als heute.

Wenn wir uns die Performance des Vormonats ansehen, hatte The Sandbox (SAND) am 15. März mit 2,68 USD seinen niedrigsten Wert.

Sein höchster Wert lag am 31. März bei 3,78 USD. Dies bedeutete eine Wertsteigerung von 1,1 USD oder 41 %. Vor diesem Hintergrund kann SAND bis Ende Mai 2022 3,3 USD erreichen.

Sollten Sie Decentraland (MANA) kaufen?

Am 29. April 2022 hatte Decentraland (MANA) einen Wert von 1,77 USD.

Decentraland (MANA) erreichte sein Allzeithoch am 25. November 2021 bei einem Wert von 5,85 USD. Dies bedeutet, dass der Token bei seinem ATH um 4,08 USD oder um 230 % höher war als heute.

Wenn wir uns ansehen, wie sich der Token im März entwickelt hat, hatte Decentraland (MANA) seinen höchsten Wert am 1. März bei 2,91 USD, während sein niedrigster Wert am 15. März bei 2,23 USD lag. Dies war ein Rückgang von 0,68 USD oder 23 %.

Mit 1,77 USD befindet sich MANA an einem soliden, niedrigen Einstiegspunkt, was es zu einem guten Kauf macht, da es bis Ende Mai 2022 2,2 USD erreichen kann.

Sollten Sie Enjin Coin (ENJ) kaufen?

Am 29. April 2022 hatte Enjin Coin (ENJ) einen Wert von 1,27 USD.

Betrachtet man den Allzeithochwert von Enjin Coin (ENJ), so stieg der Token am 25. November 2021 auf einen Wert von 4,82 USD. Bei seinem ATH war der Wert des Tokens also um 3,55 USD oder 279 % höher als heute.

Betrachtet man die Wertentwicklung des Tokens im letzten Monat, so hatte Enjin Coin (ENJ) am 15. März mit 1,28 USD seinen niedrigsten Wert.

Sein Höchststand war am 31. März mit einem Wert von 1,95 USD. Hier sehen wir eine Wertsteigerung von 0,67 USD oder um 52 %.

Vor diesem Hintergrund kann ENJ bis Ende Mai 2022 2 USD erreichen, was zu einer Wertsteigerung von 0,73 USD oder einem Anstieg von 57 % führen würde. Daher ist ENJ ein solides Kaufobjekt.

The post Top-Metaverse-Token, die Ihre Einnahmen auf die nächste Stufe bringen appeared first on BitcoinMag.de.

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ApeCoin rallies over 10% today after Yuga Labs cancels Otherside Auction

ApeCoin has rallied over 10% amid a surge in purchases by investors and whales and the rising popularity of Yuga Labs’ metaverse project, the Otherside.

At the time of writing, ApeCoin was trading at $22.86, up 13.39% after dropping from a daily high of $26.91.

The cancelation of the Otherside Auction by Yuga Labs has been the greatest reason why the price of ApeCoin, a cryptocurrency launched by Yuga Labs, is rising today.

Otherside Auction cancellation by Yuga Labs

Yuga Labs Otherside metaverse project has called off its planned Dutch auction for the Otherside metaverse project land sale. The decision was reached after they failed to get a balance between the gas fees and the demand for NFTs.

During Dutch auction-style sales, prices are determined after analyzing all the possibilities of the total offering reaching the highest price.

Otherside announced via Twitter that the gas fee war had increased with Dutch sales. There was also speculation that the high demand for Otherdeed (BAYC’s new project) NFT mint, would drive the gas fees even higher as the number of NFTs minted increases.

Reducing gas fee of Otherdeed NFTs 

To reduce the massive gas fee, there is a need to reduce the high gas fee without lowering the wide distribution of the NFTs, therefore there will be a limit of minting only 2 NFTs per wallet when the sale starts but the rate will be increased as the minting process continues.

The cost of each Otherdeed NFT will be 305 ApeCoin (APE) and 55000 Otherdeed will be made available for purchase by Know Your Customer (KYC) wallets, however, users will have to complete the KYC to participate in the sale.

The price of each NFT was also featured in the Otherside teaser video, the ‘’305’’ figure is also the code for Miami.

The post ApeCoin rallies over 10% today after Yuga Labs cancels Otherside Auction appeared first on Coin Journal.

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Ethereum Name Service price prediction as C&H pattern forms

Ethereum Name Service has made headlines this week as investors focus on its popularity in the NFT industry. The ENS token is trading at $17.43, which is slightly below this weeks’ high of over $20. It is still about 33% above the lowest level this year.

What is Ethereum Name Service?

Ethereum Name Service is a unique blockchain project that is disrupting the giant industry of domain registry. The industry is now dominated by companies like GoDaddy and BlueHost.

The traditional industry is highly unfavourable for end users. For one, a centralized website host can decide to censure or delist a domain that posts content that they disagree with. Similarly, in the long term, the concept can be very expensive to the end-user. 

Ethereum Name Service uses a decentralized autonomous organization (DAO) to offer these services. Also, instead of users paying an annual fee, it charges them a simple single payment, which is a cost-effective process.

Further, Ethereum Name Service uses the concept of NFTs. In the past few days, people have been buying three and four-letter number NFTs that have a .eth suffix. According to OpenSea, the volume of Ethereum Name Service NFTs has jumped sharply in the past few days. It has risen by over 2,000% in the past seven days. 

Another reason why the ENS price has done well is that the popularity of ETH domains has also risen in the past few months. Analysts believe that this demand will keep rising in the coming months. 

Further, it faces little competition in its industry. The only major competitor is Unstoppable Domains, which offers other domain suffixes like .crypto., .x, and .x among others.

Ethereum Name Service price prediction

The four-hour chart shows that the ENS price has been in a strong bullish trend in the past few weeks. A closer look shows that it is above the 25-day and 50-day moving averages. It has also formed a cup and handle (C&H) pattern, which is usually a bullish sign. The current decline is part of the handle section. At the same time, the Stochastic Oscillator has moved below the overbought level.

Therefore, there is a likelihood that the Ethereum Name Service price will keep rising in the next few days. If this happens, the coin will keep rising as bulls attempt to move above $20. Here’s how to buy Ethereum.

The post Ethereum Name Service price prediction as C&H pattern forms appeared first on Coin Journal.