• Crypto trader and analyst Rekt Capital says the 200-day EMA is a key level for bulls, currently around $47,000.

• Data from CoinGecko shows Bitcoin reached a high of $45,300 on Tuesday before retreating sharply to the $43,400 area.

Bitcoin (BTC) has retreated from its intraday highs of $45,300 reached on Tuesday and is currently hugging the area at around $43,450. The bounce low has seen the momentum seen since the weekend look to slow down.

However, with sentiment bullish about the flagship cryptocurrency’s short-term price movement, crypto analyst Rekt Capital says another melt-up is likely.

He says the BTC/USD pair is eyeing a key level, which if reached and turned into support, would suggest the outlook from long-term investors has shifted positive. The optimism could be a catalyst for further buying, likely aiding bulls push for the elusive breakout to the psychologically important level at $50,000.

Here’s what the pseudonymous analyst noted as BTC price flirted with resistance around $45,300:

“BTC is slowly approaching the 200-day EMA (black) Flip the EMA into support and this will be an indication that long-term investor sentiment is shifting back to being bullish on Bitcoin.”

He shared the chart below, which shows Bitcoin’s recovery after last month’s rout and the potential for a breakout to $47,000.

Chart showing BTC rebound towards the 200 EMA. Source: Rekt Capital on Twitter.

This level represents the 200-day exponential moving average, which Rekt Capital highlights as one of the key indicators of long-term investor sentiment towards Bitcoin.

 “The black 200 EMA is a long-term gauge of investor sentiment towards BTC. The 200 EMA currently represents a price point of ~$47000,” he said.

While the analyst is optimistic on BTC/USD, he points to the chart and the 200 EMA versus current price levels to note that bulls might have to struggle a bit before flipping the line into support.

#BTC is trying to turn the black level into support & break into the $43100-$51900 range

However, just above this black level is the blue 50-week EMA resistance$BTC needs to turn both black & blue EMA into support to move higher inside the $43100-$51900 range#Crypto #Bitcoin pic.twitter.com/H7PYXbgGfp

— Rekt Capital (@rektcapital) February 8, 2022

If Bitcoin price turns $43k into support and breaks above the supply zone above $45k, then it’s likely to continue higher with the highlighted range ($43,100-$51,900). 

Crypto analyst Scott Melker holds a similar view and says that the benchmark crypto has “tapped” the zone. He is positive about BTC/USD price above this level.

$BTC#Bitcoin is playing the levels perfectly.

$45,478 was the next level marked, tapped almost to the dollar. Clear sailing above. pic.twitter.com/GGb9pm8TKK

— The Wolf Of All Streets (@scottmelker) February 8, 2022

Bitcoin has also painted a similar recovery as that seen during the last correction (May-July 2021), by breaking higher from the lower Bollinger Band on the weekly log. The last time it happened, BTC rallied to its all-time high of $69k.

Bitcoin price is up more than 12% this past week.

The post Bitcoin price: Analyst highlights next steps for BTC if this level turns into support appeared first on Coin Journal.

The analyst says February could see a green candle if $37,000 holds as key monthly support, which could potentially open the path to $50,000.

Bitcoin price has failed to break above $39,000 this week, having bounced near the level multiple times since the upside from lows of $33,000 last week.

BTC is currently 2% down and looking to retest the $38k support level, which if it fails to hold, could see the flagship cryptocurrency dip further.

Pseudonymous crypto trader and analyst Rekt Capital says the declines keep Bitcoin in a consolidation phase, with support and resistance at two exponential moving averages (EMAs) on the weekly chart.

According to him, Bitcoin price has dipped below the two EMAs which macro-wise, represent the mid-range area.

“Since BTC lost its Mid-Range area as support… [It] has revisited the Macro Range Low area (green).Macro-wise however, BTC is still just consolidating between $28000-$68000 (green-red),” he noted in a tweet shared on Wednesday.

Chart showing BTC price below the two EMAs. Source: Rekt Capital on Twitter.

The analyst says Bitcoin is thus set to trade within the lower half of its range low-range highs of $28K-$68K. The benchmark crypto will stay within this “macro range for the next weeks,” Rekt added.

He highlights the $43-$48K range as a critical barrier below which BTC price is likely to hover until bulls reclaim the two EMAs. If this scenario plays out, he believes fresh momentum will see Bitcoin break back into the upper half the $28k-$68k.

Weeks ago, #BTC lost its Mid-Range as support

Which means BTC will occupy the lower half of the $28K-$68K macro range for the next weeks

BTC will stay below $43-$48K until BTC is able reclaim these two EMAs to confirm a return into the upper half of the range#Crypto #Bitcoin https://t.co/2Gs7jL6cvo pic.twitter.com/6m1SWgtSZG

— Rekt Capital (@rektcapital) February 2, 2022

BTC set for a “green February”

Looking at monthly support, the analyst notes Bitcoin has had three successive negative closes so far. It includes January that saw BTC/USD slip over 20%.

According to Rekt, Bitcoin is likely to see a reversal in February. His outlook is that the monthly candle shows a retest and bounce off a key level at $37,000.

Beyond the green Monthly support level, #BTC has only ever seen a 3-month downtrend, at most

The last time $BTC experienced a 3-month downtrend beyond the green level…

BTC enjoyed a green Monthly candle

Could BTC be setting itself up for a green February?#Crypto #Bitcoin pic.twitter.com/MJQXv4QC0q

— Rekt Capital (@rektcapital) February 2, 2022

“The last time BTC successfully turned this level into support was in August 2021 [and] that retest preceded a move to $50,000,” he added.

The last time Bitcoin rebounded off lows of $30k was in July 2021, with an uptick to highs above $52k followed by a retest of $40k and another bounce all the way to its all-time high in November.

The post Rekt Capital: Bitcoin’s dip below mid-range support highlights $43-$48K as a key barrier appeared first on Coin Journal.

Choosing between two assets can be a little confusing and even becomes riskier if one lacks a decent understanding of how the individual asset operates. However, in terms of buying and selling digital assets, the market is often examined with two parameters known as fundamental and technical analysis.

 In most cases, fundamental analysis is related to economic updates while technical analysis is based on the understanding of market price action.

And In terms of selecting which crypto assets to buy. In this article, you’ll discover what digital currency is worth investing your money in.

Bitcoin (BTC)

Recent research done on the 26th of January 2022 by 33 fintech specialists of the Finders panel, forecast the price of BTC to reach $94K before the end of the year. Additionally, the panel also has a long-term outlook for Bitcoin as they foresee the price of the asset reaching $192,800 in 2025 and $406,400 by the end of 2030.

While this may present an optimistic viewpoint to the Bitcoin market, on the other several market participants believe that the upcoming interest rate hike will affect the cryptocurrency market negatively. Conversely, other investors perceived this moment as the best time to buy the Bitcoin asset.

Ethereum (ETH)

From the NFT marketplace to the recent value of Ethereum in the cryptocurrency market. It should be noted that the ETH token has been losing ground to its counterparts in the NFT space.

Due to high transaction fees on the Ethereum network, other younger blockchains such as Solana (SOL), and Tezos are attracting NFT developers with less transaction fees when compared to the Ethereum gas fees.

With relation to congestion and high gas fee noted from the Ethereum blockchain. A lot of NFT enthusiasts are backing out from using the token for transaction purposes in the NFT marketplace.

The post What asset is worth buying, Bitcoin or Ethereum? appeared first on Coin Journal.

• Mike McGlone says Bitcoin and Ethereum prices could rally higher given their respective supply-demand dynamics.

• Bitcoin price has bounced from weekly lows of $33K to trade around $38,700, while Ethereum looks to strengthen above $2,600 after bouncing off lows of $2,200.

• Crypto has traded in lockstep with stocks amid headwinds associated with US Federal Reserve’s monetary tightening.

Bloomberg commodity strategist Mike McGlone believes the prices of Bitcoin (BTC) and Ethereum (ETH), the top two cryptocurrencies by market cap today, are yet to peak.

According to the analyst, the two cryptocurrencies are still in “early adoption days.” 

His suggestion? The potential for future price gains remains high as networks see more growth.  

He points to the increasing demand for the digital assets versus their respective declining supply and believes these could be key metrics in projections of further price implications.

Bitcoin has a fixed supply of 21 million while Ethereum’s recent upgrades have seen millions of dollars worth of ETH burned as the network looks to a supply cut.

“By the rules of economics, a market with rising demand and declining supply will go up over time, suggesting that Bitcoin may be forming a bottom again around $30,000 as $60,000 resistance ages,” McGlone said in an earlier comment.

As for Ethereum, he says bullish fundamentals remain intact even as price continued to fluctuate in the $2,000-$4,000 range. The price range, he notes, has bulls buying the dip while sellers try to defend the $4K barrier.

McGlone, however, says that “something unlikely [that] reverses the proliferation of the nascent [crypto] technology” would be bad for crypto markets.

#Bitcoin and #Ethereum remain in early adoption days, with increasing demand vs. declining supply and related price implications. Our bias is why complicate it — unless something unlikely reverses the proliferation of the nascent technology, prices should rise over time. pic.twitter.com/SAgqWrfIMV

— Mike McGlone (@mikemcglone11) January 29, 2022

Bitcoin’s lockstep trading with stocks

The analyst’s projections come at a time when crypto markets have traded more in lockstep with traditional financial markets.

Since the start of the year, Bitcoin price has fallen and bounced in tandem with returns on Wall Street, with sentiment seemingly hinged on the US Federal Reserve’s hawkish tilt amid rising inflation.

Bitcoin price has bounced from this week’s low of $33,000 to highs of $38,780 on 30 January, its weekly gains currently at 8%. Ether (ETH) has also rebounded from seven-day lows of $2,200 to trade around $2,600.

The weekend uptick comes after similar recoveries on Wall Street on Friday. The Nasdaq closed 3% higher and the S&P 500 edged +2.4% to claw back some of the weekly losses.

The post Demand-supply dynamics will send Bitcoin and Ethereum prices higher: Bloomberg analyst appeared first on Coin Journal.

The trend is your friend, but while you can ride it for so long, it’s often safe to know when to climb off the surfboard and get on another wave. This is the same for cryptocurrencies. 2021’s top rewarding cryptocurrencies might not make the best investments in 2022. And so, to avoid capsizing under the reverse currents of a cryptocurrency, we bring you the top 10 cryptocurrencies to watch in 2022.

Solana

Competitive Edge: Solid framework and build (faster transactions and minimal fees)

Solana is one of those altcoins that has continued to grow steadily through the years after its launch in April 2009. At inception, the project’s main focus was to leverage bitcoin’s permissionless nature to provide DeFi solutions like smart contracts, payment processing, peer-to-peer lending, and stable coins. Solana’s framework allows up to 710,000 transactions per second on a 1GB network without data partitioning. The proof-of-scale also allows users a high level of scalability and economies of scale with very high speed and very low transactional cost.

What does this mean for the investor? What does it mean for you? For one, Cryptocurrencies with solid builds have more usage and functionality among users, as such, the market cap will continue to grow as more investors turn to Solana. A growing market cap and steady rise in usage and adaptation mean more value to the network, and an appreciation in price based on functionality rather than random volatility spikes.

Solana may not be one to make a spectacular bull-run right now, but it’s definitely a cryptocurrency to keep your eyes on in 2022.

Chainlink

Competitive Edge: Most popular oracle on the market

Chainlink is an Ethereum token that powers the Chainlink decentralized oracle network. Unlike Ethereum and Bitcoin that runs completely on blockchain technology, Chainlink adopts oracles to help connect blockchain to external data sources, APIs, and payment systems, hence they gain access to different types of data that aren’t available on the blockchain.

App developers use Chainlink to make sure their apps work well. This only means that demand for Chainlink will continue to increase through the years as well as its LINK tokens. There is a bright future for Chainlink because more companies will continue to adapt Chainlink in their operation. Good news for investors as well. Since Chainlink has major industrial applications, it means that the growth of this cryptocurrency will be more organic and sustained than the rest of the more volatile cryptocurrencies.

Ripple (XRP)

Competitive Edge: Strong despite the crisis

You might not want to buy Ripple right now, but it’s definitely one to watch. Ripple all so recently lost its place as the third most valuable cryptocurrency, but that’s only because of the case with the SEC. Regardless of the suit that lasted all through 2021, Ripple still went on to gain 346% through the year.

If the coin can still manage to deliver such huge returns despite an ongoing court case, then imagine how well it can fair when the suit is over?

Ripple Labs believe the case will be resolved in 2022, so you might want to keep your eyes out for when this ends.

Binance Coin (BNB)

Competitive Edge: Coin of the largest exchange platform

Binance is by far the world’s largest crypto exchange platform, and its native coin BNB is one every investor must keep on their shortlist.

Binance users who hold BNB enjoy access to discounted trading fees and quick transactions. As Binance continues to grow, BNB will also continue to gain more popularity and increase in market cap.

Just in 2021, Binance coin, BNB, delivered more than 1300% returns to investors. There have been many conversations surrounding the fact that Binance could go public within the next year or two. Imagine how positively that would affect BNB.

If you don’t already own BNB, this might be the perfect time to consider adding it to your crypto investment portfolio.

Dogecoin (DOGE) 

Competitive Edge: Notorious Bull Run & Underdog of the Year

When it comes to cryptocurrency bubbles on a long streak, Dogecoin can be tagged as one of the world’s most successful cryptocurrencies. We all know how it started. Dogecoin was a meme coin that would come to yield more than 4050% in returns for believing investors.

Its rise began with influential celebrities like Elon Musk endorsing the asset on social media. Other celebrities that influenced the price include Snoop Dogg and Miley Cyrus. But can the meme coin forever last on vibes and cruise?

Rumor has it that DOGE is about to take a more serious twist in its use case. Yes, many investors use it for payment as of now, while others invest in it simply because of its reputation for remarkable growth potential. But one thing is certain: as its applications in payments and corporations increase, so will its value and your returns as an investor.

Bitcoin (BTC)

Competitive Edge: First and most valuable cryptocurrency

There’s no need to say too much about bitcoin. Its reputation precedes it. The first of its kind. King by value and market cap, you definitely want to put your eyes on the charts in 2022. Yes, there may be some dips and dips within those dips, but smart investors know that these falls provide huge potential for even greater rewards.

Ethereum

Competitive Edge: Use Case and 2.0 Upgrade

When it comes to value, Ethereum is unarguably the first runner-up. Its smart contract use case even makes it an indispensable asset among serious business-minded investors.

The Ethereum blockchain is currently in the middle of a huge upgrade that will make it faster and cheaper to use if successful. Ultimately, this means that even more investors will be attracted to Ethereum, and the value will increase.

Polygon

Competitive Edge: Integrating Ethereum Systems

Much like Ethereum, Polygon attempts to deal with many technical issues with Ethereum. By connecting Ethereum-compatible blockchain networks, the platform attempts to create Ethereum’s blockchain network while providing DeFi solutions. Definitely, one to watch in 2022.

Hedera (HBAR)

Competitive Edge: Application with Top Gun Institutions

Hedera is most renowned for its fast transaction and low cost. It is the most-used enterprise-grade public network powering the decentralized economy. The owners of Hedera are some of the biggest institutions in the world. This includes Alphabet (GOOGL), LG, Deutsche Telekom (DTEGY), and TATA Communications. If these massive institutions can find applications for Hedera, it shows that it’s here to stay, and many more organizations will be adopting HBAR over time.

Cardano (ADA)

Competitive Edge: Pioneer Ouroboros Concensus Algorithm

Cardano allows users to perform transactions and govern the Cardano blockchain network. Investors always appreciate a great degree of participation. With Cardano’s ledger and smart contracts use cases, you can expect that the influx of investors will continue to rise over the years, hence the value of ADA.

The post Top 10 Cryptocurrencies to Watch in 2022 appeared first on Coin Journal.