Monat: Juni 2023

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Bitcoin hard forks, Bitcoin Cash and Bitcoin SV in the spotlight with double-digit gains

  • At press time, BCH price had risen by 52% in the last seven days and 28% in the last 24 hours.
  • BSV, on the other hand, had gained 77% in the last seven days and 30% in the last 24 hours
  • Bitcoin (BTC) has only gained 15% over the last seven days.

Recently, attention has been focused on Bitcoin (BTC) and its hard forks, Bitcoin Cash (BCH) and Bitcoin SV (BSV) that split off from the main chain. In the last seven days, the prices of BSV and BCH have skyrocketed, outperforming even BTC.

Despite the markets showing a consolidated trend after the recent price movements, prices of most cryptocurrencies are still skyrocketing with BCH and BSV being among the top three gainers today falling behind Waves (WAVES) which has shot up by 85% today.

Crypto market breakout after US SEC onslaught

The SEC lawsuits against Binance and Coinbase for allegedly violating US rules and regulations sent the markets into a sharp decline.

However, the drop did not last long. The prices were up again after industry heavyweights like BlackRock, Invesco, and WisdonTree threw their weight behind the industry. The other force behind the current crypto market boom is the emergence of China back into the cryptocurrency space.

China’s stand on cryptocurrencies

The historical relationship between China and cryptocurrencies has been quite complicated, with frequent bans that have always had an effect on the entire crypto market.

China has a history of opposing cryptocurrencies despite the fact that it was once the bedrock of most crypto activities including Bitcoin mining. The People’s Bank of China (PBC) made its initial attempt in 2013 when it forbade financial institutions from dealing in virtual currencies. Afterwards, authorities tightened their regulations of cryptocurrencies in 2017, especially targeting Initial Coin Offerings (ICOs).

Later in 2021, China took the toughest action and outlawed cryptocurrency mining causing a more than 50% decline in the crypto markets.

But recently, China has changed how it views cryptocurrencies. Beijing recently published a whitepaper titled “Web3 Innovation and Development White Paper (2023)” that promoted Web3 technology as a crucial element of the internet’s future development.

If China was to completely lift the crypto ban or ease its stand, the global markets could be deeply impacted, stimulating global demand and boosting prices. However, at the moment, everything is still surrounded by speculations going by what has been happening.

The post Bitcoin hard forks, Bitcoin Cash and Bitcoin SV in the spotlight with double-digit gains appeared first on CoinJournal.

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AltSignals’ first stage presale nearly sold out amid resilient crypto sector

  • AltSignals presale nearly sold out with $1.021 million raised

  • An interest in crypto and AI boosting the trading signal service platform

  • $ASI is likely to surge in value as it gets listed on exchanges amid huge investor interest

Trading signal service AltSignals ($ASI) has been a presale sensation this year. The project has raised $1.021 million, with investors eyeing a share of its upcoming AI-led trading platform ActualizeAI. AltSignals is expected to raise $1.080 million through the presale, meaning that only 5% remains for the first phase to conclude. By all standards, this is a highly successful presale, given that it just opened its doors to investors a few months ago. But why has AltSignals generated so much interest from investors? Let’s explain this in some detail.

Crypto is the future, and so is artificial intelligence

Crypto had a rough year, but investors are still undeterred. Over the past week, recoveries have been widespread, with the crypto king Bitcoin eyeing a breakout past its now-established resistance at $30,000. The gains underline that the search for supernormal profits from the digital sector is far from over.

But we know the investment landscape is changing. As established cryptocurrencies whipsaw within ranges that investors have become accustomed to by now, new crypto projects are a fast gathering storm. They present new and unexploited opportunities that investors are willing to try. 

AltSignals comes at a time when the application of AI is growing, especially in the trading world. Just imagine the benefit of using AI to generate signals from financial instruments like stocks and forex. Of course, AI has been in use in the trading world as it has been shown to produce more quality signals. The ability to intertwine crypto, AI, and trading makes AltSignals a unique and quality project which is attracting investors.

What is AltSignals, and how does it work?

AltSignals is a trading signal service created in 2017 by a team of professional UK traders. It has grown exponentially over the years, with its trading community increasing to over 52,000 members on Telegram. The signal service boasts approximately 64% signal accuracy, generated using the AltAlgo™ algorithm. The top performing markets for the company are shares, forex, the Binance Futures, crypto, and CFDs. 

A strong and growing demand for AltSignals service has prompted the team to expand into AI-led signal service. The team is launching an AI platform dubbed ActualizeAI. The interest in AI has been fueled by a need to increase the quality of signals generated and the number of financial instruments covered. 

To benefit from the AI signals, you need to become an ActualizeAI member. Crypto token $ASI will be the unit of membership. Investors who buy $ASI in the presale will have early access to ActualizeAI and enjoy other benefits.

What value does $ASI offer?

If you are a trader or investor interested in trading, $ASI could be an ideal investment. You have access to a trading community benefiting from quality signals generated by professionals. $ASI also gives investors a chance to compete in trading tournaments. This could be an excellent way to improve trading skills while getting rewarded with $ASI for winning the contests. There are exclusive presale opportunities for members of ActualizeAI. 

If you have been searching for a trading community where members have a voice, AltSignals, and ActualizeAI could be the ideal place. You can use $ASI to vote on governance, besides using the tokens to contribute ideas on the platform and get rewarded.

Should you buy $ASI this week?

$ASI’s presale in the first phase is ending with around 5% of tokens left to be sold out. From here, the token’s price will increase, and investors may have to spend more. The token could also get boosts from exchange listing after a successful presale. It means buying now offers a perfect chance to join ActualizeAI early and familiarise yourself with the AltSignals platform.

The post AltSignals’ first stage presale nearly sold out amid resilient crypto sector appeared first on CoinJournal.

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Should you buy Bitcoin as it jumps to a 1-year high?

  • Bitcoin trades above $30k despite the dollar strengthening against other fiat currencies
  • News that BlackRock prepares to launch a spot Bitcoin ETF helped
  • SEC’s lawsuits create uncertainty

Bitcoin trades at a 1-year high after breaking out of a consolidation that looks like a bullish flag pattern. As such, the cryptocurrency has made a new higher high, keeping the bullish bias intact despite consolidating since April. 

While trading above $30k it is hard to make a bearish bet on Bitcoin. That is specifically true if looking at what happened in the traditional currency market, where the US dollar strengthened across the board. 

For example, the EUR/USD exchange rate dropped from 1.10 to 1.0850 on news that the European PMIs weakened more than the market expected. Also, the GBP/USD dropped on weak UK data. 

All in all, the dollar strengthened last week, but it did not gain against Bitcoin. 

Just the opposite. 

Bitcoin chart by TradingView

What drives the Bitcoin price higher? 

By now, it is obvious that the dollar’s weakness did not drive the move higher. Therefore, something else must be the cause of this bullish breakout. 

Two possible explanations exist. 

One is related to BlackRock, the American multinational investment company, one of the largest in the world. News surfaced that the company submitted an application for a spot Bitcoin ETF designed to track the underlying market price of Bitcoin. Therefore, some argue that BlackRock might know something in advance. 

Another is that investors’ trust in the industry builds up with the recent SEC lawsuits. A more transparent industry should be a positive for crypto investors. 

Regardless of the reason, Bitcoin trades above $30k on the dollar’s strength against other fiat currencies. If the divergence continues, Bitcoin might have more upside. 

On the flip side, no one knows how the cryptocurrency market will react to the Binance and Coinbase verdicts. 

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