Es war nur eine Frage der Zeit: Die österreichische Kryptobörse Bitpanda erhält nun die Kryptoverwahrlizenz von der BaFin.
Chainlink has now lost key support. Does that ring a bear bell?
Chainlink (LINK/USD) is now in imminent danger of plunging to a new low in the year. That was after the cryptocurrency lost the support of $6, a crucial level it has held since May. The cryptocurrency exchanges hands at $5.75. This is not the lowest price in the year, giving hopes that it could still defend the support. However, going by the price action, a breakout has already occurred, and a bear market is likely to continue.
Chainlink Labs did its part to counter the risks brought by the collapse of FTX. On November 10, the team launched a proof-of-reserve product to address future trust issues. The PoR product will help verify the asset reserves of the centralised exchange, its cross-chain collateral, and off-chain bank account balances. It also helps to check the exchange’s real-world asset reserves. As a transparency measure, Chainlink seems to heed the increased calls for reserve disclosure. Binance CEO Changpeng Zhao has previously backed the disclosure following the collapse of FTX.
Despite the move meant to reassure investors, LINK has succumbed to the bear market. The monthly high of nearly $9.5 has since been followed by a nearly halving of the cryptocurrency price.
LINK price outlook as weakness mounts below $6
A clear breakout zone at $6 support occurred on the daily chart, confirming a bear market for LINK. The RSI is yet to hit oversold levels, implying that LINK has room to fall further. Should bulls fail to arrest the decline and take LINK back to $6, the next level to watch would be $4.5.
When to buy LINK?
The market is very bearish for Chainlink token. A breakout to the downside at the support and a weak crypto sentiment reinforces a bearish bias.
It is not yet time to buy Chainlink until it settles at suitable support. A potential recovery to or above $6 could attract buyers. Otherwise, investors should consider buying LINK at $4.5 based on prevailing price action and sentiment.
Where to buy LINK
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
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Sandbox SAND prediction as token hits a new low in the year
The Sandbox (SAND/USD) crashed by nearly 5% on Monday, extending its losing streak in the bear market. The loss took the token to a yearly low of $0.52 before recovering slightly. As it stands, the token of the Metaverse platform is under the control of bears.
It is not only SAND that is under pressure. Metaverse peers feel the heat of a very calm virtual reality space amid a prolonged crypto winter. This year’s activity is below par for a sector that was expected to witness unprecedented growth.
Take the case example of Horizon Worlds, the flagship metaverse for tech giant Meta. As of October, reports indicated that Horizon had amassed less than 200,000 monthly active users. Unless a miracle happens, Meta is unlikely to hit 500,000 MAUs by the end of the year, as initially projected.
As to whether the low activity in the metaverse is connected to the crypto winter, time will tell. At the moment, the metaverse is simply underperforming. The Sandbox token has, therefore, been in a prolonged downturn owing to fewer entities entering the nascent sector. Will the token set a new low?
SAND heading to $0.40 next?
On the weekly chart, there is no clear bottom price for the Sandbox token. However, the area around $0.4, when SAND started to turn bullish, should remain of interest. That implies that SAND could fall by up to 30%. Nevertheless, looking at the candlestick price pattern, the bear market has been cooling.
When to buy SAND
SAND price is bearish and not attractive for a buy. Nonetheless, significant price declines are unlikely, and SAND could begin a reversal if the RSI hits the oversold levels. Still, the prevailing crypto sentiment should guide ascertaining a bullish reversal for the cryptocurrency.
Where to buy SAND
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
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Bitcoin’s choppy pattern continues. Here is why the next breakout could be catastrophic
Since breaking below $19,000, Bitcoin (BTC/USD) has been unable to recover to the crucial psychological level. As of press time, the cryptocurrency trades slightly above $16,000, the level it bottomed at post-FTX collapse. It’s nearly two weeks now, and the price of BTC has been consolidating at this yearly low. Can it recover in the next few days?
It is hard to tell if BTC will find a bullish footing as crypto sentiment remains weak. Besides the FTX-inspired crash, BTC remains a key barometer of global economic health. Central banks are tightening the belts with rate increases to tame high inflation. With the situation looking gloomy, it could take a while before we find the right balance to take BTC higher.
Once again, BTC’s decline below $19,000 indicated its bottom still needs to be found. Is $16,000 the likely bottom, or could we see a further decline below this level? A potential breakout is imminent that could help answer the question. Let’s turn to the technical levels and price action:
BTC eyes a potential bearish inside bar breakout at $16,000
On the daily chart, BTC trades with weakening momentum at the support of $16,000. The MACD indicator shows a strong bear market for BTC. Multiple pin bars formed at the level, indicating indecision in the market.
What’s likely to happen for BTC?
Two possible scenarios are likely for the BTC price in the coming days. If bulls defend the $16,000 level successfully, it will set BTC for a recovery to $19,000. An improved market outlook or momentum will strengthen a bullish market. A bullish signal at the crucial support zone will be needed to confirm an upside.
On the flip side, Bitcoin could fall to $11,000 if bulls fail at the $16,000 level. This is a more likely outcome, given the weak momentum at the current BTC price. In the bear scenario, a bearish breakout of the inside bars formed at $16,000 will be confirmed. That will give bears control to take BTC lower.
Where to buy BTC
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
Skilling
Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.
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OKX kicks off NFT Football Cup as FIFA World Cup begins in Qatar
OKX, among the world’s leading platforms for dApps, DeFi and GameFi, wants to make this year’s FIFA World Cup a memorable one for fans.
The OKX Football Cup, part of ‘The OKX Football Festival’, is giving millions of fans a chance to earn from a great prize pool as they support their favourite teams.
Simply, OKX is offering an NFT experience where one can enjoy the World Cup even more with free a NFT mint of their preffered team. With the free NFTs, its easier to predict matches and stand a chance to win huge prizes. How does it work?
Stake 0.01 ETH, mint and win great prizes
Football fans can win with OKX by predicting the winning teams in the group stage, the knockout rounds and the third-place match. To participate, you need to grab the free NFTs of your teams by connecting your wallet.
From here, it’s pretty simple for users to get their hands on the team NFTs by going to the OKX NFTs page and navigating to OKX Football Cup for a free mint. To get the other two free NFT mints, users need to use the OKX App.
Notably, fans can mint all three team NFTs all at once on the app to save on gas fees. Alternatively, one can buy team NFTs on the OKX NFT Marketplace.
Each NFT mint requires users to stake 0.01 ETH, with up to 3 football teams mintable before the end of the group stages on 3 December.
20,000 USDT prize pool for the group round
The OKX Football Cup group stage matches begin on 21 November 2022 to 3 December 2022, with each match offering a fixed prize pool of 20,000 USDT. OKX adds 10 USDT for every NFT minted, thereby growing the prize pool.
Every day, just before a match begins, the OKX system will take a snapshot of NFT teams’ owners.
NFT owners whose teams win the given match will share the $20k in USDT. However, if teams draw, the opposing sides will each have 10,000 USDT to be shared amongst NFT holders who backed the two teams.
Users will have the option of redeeming their full stakes at the end of the event.
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