Kategorie: Crypto Analysis

• The fear and greed index in the crypto industry has remained in a neutral phase.

• Chancer, a new blockchain for the betting market, has raised over $1.2 million.

Cryptocurrencies have been in a tight range since the first week of July as their demand has fizzled. Most coins, including popular names like Bitcoin, Ethereum, and Ripple have consolidated as the fear and greed index has been stuck at the neutral point of 50. 

Despite this consolidation, crypto investors are still taking advantage of emerging trends like buying pre-sale tokens. Chancer, a new blockchain aiming to disrupt the sports betting industry, has emerged as one of the top tokens. It has raised over $1.2 million in the past 30 days.

What is Chancer?

The sports betting industry is a major one. For example, DraftKings has a market cap of more than $14 billion while Flutter Entertainment and Entain are valued at 26 billion and 8.93 billion pounds, respectively. Other multi-bilion dollar betting companies are Penn Entertainment, Churchill Downs, and Boyd Gaming among others.

These companies have grown rapidly, thanks to the internet and friendly regulations in most countries. For example, a Supreme Court ruling striked down a federal law that prohibated sports betting. As a result, it is now legal to bet in many states in the United States.

Chancer is aiming to disrupt the industry by using the blockchain technology. Its platform will be loaded with additional features that will make betting easier and more social. For example, any $CHANCER holder will be able to create a market and make money as people place their bets in it.  Chancer’s white paper adds:

“These tokens not only grant you the ability to create markets but also provide an opportunity to invest in markets created by other individuals. By holding $CHANCER tokens, you have a direct stake in our platform’s triumph.”

You can buy the Chancer token here.

Chancer will be highly decentralized

Most importantly, Chancer will be highly decentralized. While it will be centralized in the beginning, the developers will later on create a decentralized autonomous organization (DAO) that will govern the network. This DAO will set rules, add integrations, and make key decisions.

Further, Chancer users will be able to share the profits made by the network. This is contrary to what centralized betting companies like DraftKings and Flutter Entertainment, where the managers make all the decisions.

Therefore, there is a likelihood that the Chancer token will do well when the token is listed in exchanges like Binance, Huobi, and OKX. It has already demonstrated that there is demand for the token during the pre-sale period.

Most importantly, this token sale is happening when there is limited demand for cryptocurrencies as evidenced by the fear and greed index, which has remained at the neutral phase of 50. 

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• AltSignals has built a successful trading signal service since 2017 

• The platform will tilt towards an AI-led service that is expected to increase investors’ earnings

• $ASI has huge potential for up to 10x returns on continued use of its platform

While investors maintain a lukewarm sentiment on crypto, newly launched projects are gaining success. AltSignals ($ASI), a successful trading signal service in the UK, has attracted investors at the presale. The presale raises funds for a new artificial intelligence trading platform. AltSignals expects the AI platform to improve the quality of trading signals and supercharge earnings. Investors can join the AI trading signal platform by purchasing $ASI, the native token.

Leveraging AI in trading – The power of AltSignals

AltSignals is a platform created in 2017 by a team of experienced UK traders. Since then, the platform has grown popular, with its quality trading signals averaging 64% accuracy rates. Over 52,000 traders use the signal service. 

In the past, AltSignals has been using the AltAlgo™ indicator to generate trading signals. Following exponential growth, AltSignals is tapping into the power of AI to generate trading signals. AI is expected to improve the quality of signals and help the team cover more financial instruments. 

In line with the new growth focus, AltSignals will create a new platform dubbed ActualizeAI. Members will own $ASI, the token to power transactions and transfer value on the platform. 

What are the benefits of owning $ASI?

Investing in $ASI means becoming a member of ActualizeAI, with full benefits of AltSignals trading signals. With a successful trading service, investors will benefit from quality signals increasing their incomes.

$ASI also holds a huge potential to increase value and return to early investors. The value of the cryptocurrency will be determined by the continued use of ActualizeAI. 

Investing in AltSignals also means accessing and belonging to a trading community. Investors learn from the AltSignals team and other traders on the platform. Regular trading contests and tournaments are ideal for traders to showcase their skills. They also learn from peers to improve their trading competencies. Investors get rewarded with $ASI for winning the contests. 

AltSignals also gives members a chance to get involved in the project. Investors can join the AI Members Club and be rewarded for giving ideas and feedback on the project. Members will also use their tokens to vote on governance issues. Other benefits of $ASI include exclusive access to presale opportunities and AI-powered products.

 Will $ASI become bullish in 2023?

$ASI will be listed on Uniswap in Q3 2023. This could be when the token will have a genuine chance of skyrocketing in value. The prediction is based on historical price trends, where tokens rise strongly after listing. 

2023 is also a year that AI is gaining prominence. As a result, $ASI could ride on the optimism to increase in value. 

However, $ASI presents an opportunity beyond 2023. Most developmental activity for the ActualizeAI platform will happen in 2024. It means sustainable gains in $ASI could be realised beyond 2023 from the use of the AI platform.

Given how fast the presale is happening, $ASI could rise by up to three-digit percentages in 2023. In 2024, $ASI could be 10x investment or higher in the future. 

Should you invest in $ASI while on presale?

One of the benefits of purchasing $ASI in presale is gaining early access to the AI trading platform. For traders, this is an opportunity of a lifetime to benefit from quality trading signals. These signals cover forex markets, crypto, stocks, and CFDs. 

Investing in $ASI on presale is also advantageous since the token’s value is still low. The value will be higher when the $ASI lists and investors will spend more to buy it. 

With the current price at $0.01875, $ASI is a bargain for value-seeking investors. Investors will also ride a bullish momentum when it occurs after listing.

The post Exploring the bullish case for AltSignals in 2023 as presale accelerates appeared first on CoinJournal.

• Litecoin price has slumped in the past few weeks as it ignored key events.

• It went through its third halving that reduced its block rewards last week.

Litecoin price has underperformed the market as the hype surrounding the halving event waned. LTC price dropped to a low of $80, the lowest level since June 21st. It has dropped by more than 28% from the highest point this year. 

Litecoin’s price action is a reflection of the overall performance of the crypto industry. Bitcoin, its biggest peer, has remained at the $29,000 level in the past few weeks. Similarly, the total market cap of all cryptocurrencies has remained at $1.12 trillion.

Litecoin price has ignored several important events in the ecosystem. Last week, it went through halving, a process that reduces the block rewards to miners in its ecosystem. Historically, Litecoin and other cryptocurrencies tend to show some volatility before and after a halving event.

Further, it reacted mildly to last week’s credit rating downgrade of America’s debt by Fitch, one of the big three credit rating agencies. In an ideal situation, the credit rating downgrade should have been a good for Bitcoin and other cryptocurrencies because they are designed to be anti-US dollar.

Meanwhile, on-chain metrics shows that the number of Litecoin transactions has been a bit muted in the past few months. On a positive side, the hash rate has remained at an all-time high of 800 TH/s. 

Hash rate is an important metric that looks at the computational power of a network. In most cases, a strong hash rate means that the network is healthier.

Litecoin price prediction

The future price action of Litecoin price will depend on the performance of Bitcoin since the two have a close correlation. On the daily chart, the LTC price has dropped below the important resistance level at $105.75, the highest point in February. 

Most importantly, Litecoin has formed what looks like a head and shoulders pattern, which is usually a bearish sign. It has also dropped below the 50-day and 200-day moving averages. The two averages are about to make a bearish crossover, which is known as a death cross.

The coin has also formed a bearish flag pattern. Therefore, the outlook for Litecoin price is bearish, with the next level to watch being at $71.20.

How to buy Litecoin

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• Shiba Memu token has raised over $1.64 million from investors.

• It is one of the most popular upcoming crypto tokens in the world.

• It combines key industries like AI and meme coins.

Cryptocurrency prices moved sideways even as American equities jumped. Bitcoin remained slightly above $29,000 while the total market cap dropped by 0.42% to $1.16 trillin. The Dow Jones and the Nasdaq 100 indices jumped by over 0.65% as investors embraced a risk-on sentiment. This article will look at the forecast for key cryptocurrencies like Bitcoin Cash, Algorand, and Shiba Memu.

Shiba Memu prediction

Shiba Memu is an upcoming cryptocurrency that is aiming to combine key technologies like artificial intelligence and meme coins. Its goal is to take advantage of the most hyped industries this year.

In AI, some of the best-performing companies and cryptocurrencies have been in the industry. Some of these firms are Nvidia, Microsoft, and C3.ai while the most popular crypto AI platforms are SingularityNET and Fetch.Ai.

Shiba Memu aims to be a better alternative to other popular cryptocurrencies like Shiba Inu, Dogecoin, and Pepe. It is also taking advantage of AI technology by self-marketing. It will do that by self-responding to user inquiries and grow from their feedback.

Shiba Memu will have several technologies, including Natural Language Processing (NLP), Sentiment analysis, predictive analysis, and personalization among others. 

Shiba Memu’s token sale has gained traction in the past few weeks. It has already raised over $1.6 million from global investors. The price of the token is rising on a daily basis. You can buy the Shiba Memu token here.

Bitcoin Cash price prediction

The 4H chart shows that the BCH price has moved sideways in the past few days. This price action has mirrored that of Bitcoin, which has also dropped from the year-to-date high of $31,388 to $29,000. BCH price has moved slightly above the 25-period and 50-period moving averages.

The price was also slightly above the 38.2% Fibonacci Retracement level. At the same time, the Relative Strength Index (RSI) has moved slightly above the neutral point at 60. Therefore, Bitcoin Cash price will likely remain in this range for a while. The key support and resistance levels to watch will be at $219 and $260.

Algorand price prediction

Algorand has been under pressure in the past few months. This pressure intensified recently when AlgoFi, the biggest DeFi platform in the ecosystem collapsed. ALGO price is consolidating at the 25-day and 50-day moving averages while the Relative Strength Index (RSI) drifted upwards.

The Average True Range (ATR) has drifted downwards while the price is above the key support level at $0.1043. Volume has been constrained in the past few weeks. Therefore, the token will likely remain in a tight range in the coming days. The key support and resistance levels to watch will be at $0.10 and $0.12.

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WorldCoin, the new blockchain project started by Sam Altman, is going through major headwinds as regulators remain concerned about data privacy. As a result, the WLD token price has plunged by more than 72% from the highest level this year. The total volume of the tokn traded in exchanges has dropped.

Headwinds continue

WorldCoin was recently launched with a lot of hype, mostly because of its founder, who was the creator of ChatGPT. The key challenge for the network is the data collection part of its operations. 

As part of the strategy, the developers are collecting user data by scanning their iris using the Orb device. Many countries, especially in Europe, have warned the company against collecting its users data.

Authorities in Kenya last week suspended the data collection as thousands of people participated in the process. These people were promised to receive tokens worth about $50. That was a high figure in a country where the youth unemployment rate stands at a record high.

Now, authorities in Kenya have raided a warehouse belonging to WorldCoin. A report by a Kenyan media company said:

“The officers backed by multi-agency officials went to the offices along Mombasa Road armed with a search warrant and broke in Saturday before leaving with machines they believe stores data gathered by the firm.”

In a recent statement, authorities in the UK warned that the company must work in line with the Data Protection Impact Assessment (DPIA) before collecting user data.

“Organisations must conduct a Data Protection Impact Assessment (DPIA) before starting any processing that is likely to result in high risk, such as processing special category biometric data. Where they identify high risks that they cannot mitigate, they must consult the ICO.”

WLD price has lost steam

WorldCoin’s token, WLD, has been in a tight range in the past few days. On the 30-minute chart, we see that the token has formed a double-bottom pattern, which is usually a bullish sign. The token remains below the important resistance level at $2.20, the lowest point on August 1.

Therefore, the token will likely remain in a consolidation phase in the coming days. A bullish breakout will likely see it rise to about $2.20. A break below the support at $2 will invalidate the bullish view.

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