Monat: August 2023

• Cryptocurrencies keep growing in popularity
• Bitcoin’s price dynamics changed with institutional investors’ adoption
• Bitcoin is now correlated with assets in the traditional financial market

Since digital currencies exist, the industry evolved exponentially in a little more than a decade. Currently, more than 22,000 cryptocurrencies are part of one of the most dynamic markets in the world. 

The huge number of currencies brings a few challenges to traders and investors. First, crypto exchanges find it difficult to list all cryptocurrencies; thus, investors may miss some opportunities. 

Second, many projects in the crypto space failed. Statistics say that nine in ten blockchain projects will fail. 

For example, in 2023 alone, 83 coins disappeared for various reasons, such as failing ICO, no purpose, scams, or they had no volume. 

Therefore, to avoid being caught in projects doomed to fail or to be scammed, many investors prefer cryptocurrencies with a large market capitalization and well-established in the investing community. In other words, if a cryptocurrency becomes part of institutional investors’ portfolios, the chances are that it will still exist in the medium and long term. 

Bitcoin is such a digital currency. 

Bitcoin’s dynamics changed with the growing adoption of digital currencies

As the investing community embraced digital currencies, Bitcoin became part of more and more institutional investors’ portfolios. 

But the adoption came with some costs. 

Bitcoin chart by TradingView

Take the chart above. It shows Bitcoin’s price evolution since its inception. 

When it first traded above $1,000, Bitcoin caught everyone’s attention. Then, when it reached $20,000 for the first time, everyone talked about a bubble. 

So strong was the resistance level that it took Bitcoin a few years to overcome it. Respecting the interchangeability principle, resistance has become support recently. 

But such ample moves are unlikely to be seen in the future. Because Bitcoin’s correlation to traditional financial markets increased, it is unlikely for the price to triple or double without similar moves elsewhere. 

Summing up, Bitcoin may be a good investment for the long term, but the rising adoption of cryptocurrencies will make it more and more difficult for the price to move the way it did before. 

The post Should you own Bitcoin, given the growing adoption of digital currencies? appeared first on CoinJournal.

Key takeaways

• AltSignals’ stage two presale has already raked in over $1.2 million.

• The presale continues to move forward despite the recent market events. 

The cryptocurrency market has had a positive week so far, with the prices of most coins and tokens up by more than 1% over the last few days. 

Bitcoin, the world’s number one cryptocurrency by market cap, has been up by more than 2% in the last 24 hours. At press time, the price of Bitcoin stands at $29,798 per coin.

With the market currently in a positive trend, AltSignals’ presale is also moving excellently. The team has broken another funding record, with more than 50% of the funding required in the stage two presale already generated.  

What is AltSignals?

To invest in the project, you need to understand what the project represents and the problem they intend to fix within the Web3 ecosystem. 

AltSignals is a Web3 project that targets traders, within the crypto space and beyond. The team wants to tackle some of the challenges traders face when trading cryptocurrencies and other financial assets. 

In their whitepaper, the AltSignals team explained that they would develop a platform that generates trading signals for stocks, forex, indices, cryptocurrencies, and CFDs. 

Technical analysis remains the biggest stumbling block for many aspiring traders. Knowing when to enter and exit trades is challenging for many.

AltSignals’ focus is to help traders in this aspect by leveraging blockchain technology and AI. The funds raised from presales will be channelled towards developing the AltSignals trading platform. 

The platform will be powered by ASI, its native token. At the moment, ASI is currently going for 0.01875 per token and could increase ahead of the next presale event. 

The AltSignals team also explained that they would use the funds generated from the funding rounds to develop ActualizeAI, the trading solution designed to make it easier for more people to enter the cryptocurrency trading scene. 

ActualizeAI is an automated solution that handles technical analysis on behalf of traders. 

Visit the official AltSignals website to learn more about their presale.

AltSignals’s stage two presale rakes in over $1.2M

The cryptocurrency market has had a positive week so far, with the Fear and Greed Index indicating that investors are becoming bullish about Bitcoin’s price.

With the market experiencing an improved performance this week, AltSignals’ presale event continues without a hitch. 

The AltSignals team has raised more than $1.2 million in the stage two presale so far. Over 55% of the tokens allocated for the stage two presale have been sold. The project is still in its early days and could gain massive adoption among traders. 

The broader crypto market has performed well since the start of the year, and that could serve as an incentive for more investors to enter the market.

Some investors might be looking to invest in new projects, and AltSignals could be one of the projects that investors might consider. 

Should you purchase ASI tokens in the presale?

One of the best times to invest in a project is during the presale or private sales. The tokens are usually sold at a discount during that period, and early investors could go on to rake in thousands of percentages in ROI once the projects launch and gain the needed level of adoption. 

It could be best to invest in AltSignals now that the project is in its presale stage. With Bitcoin’s price up by nearly 50% year-to-date, the broader crypto market could embark on a Bull Run soon.

If the Bull Run commences, ASI could become one of the biggest winners. AltSignals is an interesting project that could attract thousands of traders to the cryptocurrency market. 

The development of ActualizeAI is crucial to the success of the project. If the development team deliver on their products, AltSignals could become a leading project in its niche. 

The post AltSignals’ stage two presale tops $1.2M: Should you invest now? appeared first on CoinJournal.