Wenn man den Übergriffen der kanadischen Gesetzgeber entgehen will, ist BTC immer noch der beste Weg, wie Befürworter argumentieren.
Cryptocurrency survives another day
If CoinMarketCap was your first port of call to check your portfolio this morning, your heart rate may have spiked. That’s because the following message would have greeted you on the homepage:
Navigating to the graph section, you then would have seen the below monstrosity for the global cryptocurrency market cap:
Are your palms sweaty? Knees weak, arms heavy?
But fear not, in an exclusive reveal, we can confirm that the cryptocurrency market cap did not, in fact, collapse 92% overnight. Don’t worry, everything is going to be OK.
Of course, it’s merely a technical issue with the CoinMarketCap site. But the fact that, when I first saw the graph, my mind immediately jumped to how much I could make from selling one of my kidneys is testament to how volatile the crypto market is. That even for a split second, I got the fright of my life; that there is even a 0.001% chance it could be true. And I wasn’t alone – there was a large trend increase for the term “global crypto market cap”, despite markets not moving much this morning.
Can you imagine reading the stock market has crashed 92% overnight? You’d immediately laugh. After all, the S&P 500 has a circuit breaker which automatically halts trading in the event of a 7% drop. For cryptocurrency, a 7% drop is just a slow day at the office (indeed I need to go back a whole SIX DAYS, to last Thursday, to see the most recent daily fall of greater than 7% for Bitcoin).
Maybe I’m still scarred from memories of the crash last May, when $1 trillion in market value evaporated in a week. Or January 2018, when Bitcoin shed 65 percent in a month. Or the start of the pandemic in March 2020, when Bitcoin fell 50% in two days. Or…well I don’t need to go on, you get the picture.
Because for all the institutional adoption, mainstream media coverage and incredible progress in the cryptocurrency space over the last two years, let us not forget that it’s still a nascent asset class. Bitcoin, people often overlook, was created only 13 years ago. When the stock market crashed in October 2008, blockchain technology didn’t exist. There is a hope in time that the volatility will come down to “manageable” levels, but right now we are still privy to the capricious desires of the crypto gods.
To put some numbers around this volatility (although, if you are a crypto holder, your heart rate will tell you all you need to know), the latest 30 day estimate of Bitcoin’s volatility is 3.32% according to buybitcoinworldwide.com – i.e. Bitcoin fluctuates 3.32% daily relative to its price. For context, gold is at 1.2% with most major fiat currencies falling between 0.5% to 1% relative to the US dollar. Of course, these are just 30 day estimates, yet still the volatility of Bitcoin blows the reference cases out of the water. And it’s been quite a “boring” year thus far in 2022 for Bitcoin, relatively speaking.
Furthermore, total cryptocurrency market cap captures all coins – not just Bitcoin. And yes, you know it, Bitcoin is the most stable of the cryptocurrencies. Relative to some of the moves alt coins have made over the last year or two, the Bitcoin chart resembles a US T-bill.
So, if you’re like me and your stress levels spiked this morning, don’t worry – we are still alive and well. Sure, our life expectancy has probably dropped a little lower, although I guess that’s what we sign up for as cryptocurrency holders. As the old saying goes: If you can’t handle the heat, go buy bonds.
Having said that, however, to the folks at CoinMarketCap – please, don’t scare us like that again.
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Tezos price is up 7% today: Here’s why an analyst says it could jump over 450% by mid-year
- XTZ price jumped more than 7% on Wednesday to break above $3.00.
- The cryptocurrency’s value could hit over $13.00 in the next two or three months if bulls hold above a critical support level.
- The gains could reach 450%, says Ali Martinez.
Tezos has traded higher in the past 24 hours, breaking above $3.00 after a 7% jump aided by a broader upside in the crypto market.
As of writing, the native XTZ token is changing hands around $3.18, having raced to an intraday high of $3.23. Looking at the XTZ/USD chart, we see the cryptocurrency has moved higher from late January support levels.
Another surge could push the token’s price even higher, especially if bulls hold key support levels in the face of prevailing market conditions. If not, a fresh downside could push prices to new lows below $2.00.
Analyst says Tezos could rally 450% or more
The above outlook is shared by crypto analyst Ali Martinez. According to the analyst, the XTZ price on the weekly log suggests a potential 450%+ jump if bulls hold to keep prices within an ascending channel since October 2019.
“If the channel’s lower edge around $2.50 continues to hold, XTZ could rise to the pattern’s upper trendline at $13.6,” he noted on Twitter before the coins bounce above $3.00.
As outlined by the analyst, the upside to the channel’s upper boundary could mean a massive rally in the region of 458%. Has Tezos rallied this hard before?
In September 2020, Tezos‘ price fell more than 60% before a huge rally took it from lows of $1.70 to highs above $8.00. The bull market bounce from that bottom topped with XTZ price more than 430% up around April 2021.
The lower trendline that has acted as support as recently in September last year could yet offer the buffer bulls require to make another upside assault.
But if downside pressure, likely from macro factors such as the Russia-Ukraine crisis, Fed’s rate hikes, and negative crypto regulations, hits, Martinez says to expect a drop below $2.00.
“Breaking the $2.5 support can result in a correction to $1.80,” he tweeted.
Chart showing XTZ price in a rising parallel channel on the weekly timeframe. Source: Ali Martinez on Twitter.
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Realm teams up with Alkimi to bring Ads into the Metaverse
- Realm users can tap into decentralised ads and earn as they experience the metaverse.
- The partnership will allow players to opt-in or opt-out as they wish.
Realm has teamed up with decentralised advertising exchange Alkimi Exchange to bring fraud-free and transparent advertising to the play-to-earn platform’s Metaverse.
Built on Constellation’s Hypergraph, Alkimi aims at bringing value exchange to advertisers, publishers and players within the industry.
The partnership, according to the press announcement, sees Realm and Alkimi align the core values of ensuring a sustainable advertising environment. The collaboration allows Realm to use the Hypergraph-based platform’s technology to incentivise players, making it easy to earn from advertisements.
Growth within the metaverse has seen major brands and providers seek to leverage the technology to reach potential customers.
As the branded partnerships explore the ads, players can choose to opt-in or out, with access to “custom, branded content” or retain control over their data.
“Realm partnering with Alkimi enables us to tap into revenue streams from existing advertising formats, then share that revenue with the player that created the data in a transparent way,” Realm co-founder and CEO Matthew Larby said.
Creating a personalised NFT microverse
Realm’s mobile-first, play-to-earn (P2E) platform provides for a metaverse environment where gamers and artists have the unique opportunity to create a non-fungible token (NFT) collection in ‘realm.’
It is thus possible for a player or artist to create a personalised NFT microverse with all their unique music, art, and games. Users can then mint a whole metaverse world as an ERC-1155 NFT that would be tradable on the OpenSea marketplace.
Realm also offers a platform where players can explore the NFT space, allowing them to discover, trade, and collect NFTs.
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Rückläufiges Volumen und makroökonomische Probleme: Bitcoin-Kurs könnte „weiter sinken“
Der BTC-Kurs hält sich knapp über 38.000 US-Dollar, aber Analysten warnen, dass makroökonomische Probleme und fehlende Käufer zu sinkenden Kursen führen könnten.