Kategorie: Crypto Analysis

The broader crypto market has seen a sharp dip in April. But major coins like Bitcoin and Ethereum have stabilized and look like they are ready for the next bull run. For this reason, it may be a great idea to invest in these dips, and here is why:

• The crypto market has stagnated since the start of 2022 and is poised for a breakout

• Dips can always deliver double-digit gains 

• Risk factors in the market including inflation are baked into the pricing

So, if you are thinking of buying the April crypto dip, we have three coins that offer immense potential for great returns.

Helium (HNT)

Helium (HNT) took a beating at the start of April. At one point the coin lost nearly 45% of its value in a single week. HNT has started to recover in fact, over the last few days it has ended in profits in all sessions. 

Data Source: Tradingview 

With this consolidation and price stability, it looks like the upward trajectory will continue. In the end, HNT will recover and try to reach some of the lofty highs it hit in March.

Anchor Protocol (ANC)

The Anchor Protocol (ANC) has also seen some price recovery after dipping at the start of the month. The coin has not pulled up that much but the downtrend has already stopped. With momentum now expected to start building, ANC will go on a bull run. Even if you buy at the current price, there is still so much room for double-digit returns.

Velas (VLX)

Velas (VLX) is yet to break its downtrend but the price action is now solidly above a crucial support zone. It is highly unlikely that the coin will fall below this. As such, VLX is now entering consolidation and in a few weeks, this token will report decisive gains.

The post 3 crypto dips to buy before the end of April appeared first on Coin Journal.

After a very bullish trend in March, Bitcoin (BTC) has slowed significantly in April. The coin dropped below the $40,000 for the first time in weeks. BTC has managed to pair up some of these losses and much of this is down to increased whale buying. Here are the main takeaways:

• Institutional investors and other big wallets bought BTC massively at $38,000.

• This buying activity has pushed the coin above $42,000 once again

• Whale accumulation often suggests a bullish momentum is around the corner.

Data Source: Tradingview 

How will whale activity affect Bitcoin?

In the near term, we expect the price of Bitcoin to maintain a steady upward trajectory. The accumulation of BTC by large wallets is often a sign that more gains are coming. At the moment, BTC remains firmly above the crucial; $40,000 mark. We expect consolidation to continue before the mega-cap strides towards $45,000. 

It is very difficult however to see any more upside above $45,000. In fact, even during its robust March rally, BTC failed to clear $49,000 and would soon fall sharply after. It is likely that most of the dip buyers we saw at the $38,000 prices are short-term investors. 

We expect a majority of them to lock in profit once the coin crosses $45,000. This will lead to a mini sell-off that will return Bitcoin back to $40,000 in the shorter term.

Should you follow the Whales?

Well, the $38,000 price was the most appropriate for BTC investors. But there is enough upside for the coin to hit $45,000 from its current price. You can therefore consider buying and make at least 10% in returns over the coming days. But if you want to hold for the longer term, BTC still has the potential to 2x your money by the end of this year.

The post Bitcoin’s price dip has attracted large whales – Here is what this means appeared first on Coin Journal.

Ripple (XRP) has entered a bullish setup that could trigger a decisive uptrend. The coin has regained an important trend line and will look to build momentum in the coming days. But how far can it go? More analysis below but first, here are key takeaways.

• XRP has consolidated gains firmly above the 100-day moving average

• The coin has breached $0.72 and regained an important trend line.

• The momentum could push XRP towards $0.82 in the near term.

Data Source: Tradingview

Ripple (XRP) and the upside potential

The broader crypto market has stabilized after a difficult start to April. Although most coins have not reported record-breaking returns, they have held to most of the gains we saw during the March bull run. 

XRP added 10% to its value last week and has now entered a bullish setup that could bring additional gains of around 15%. The moment the token smashed past $0.72, it entered an important upper trend line. So far, the coin has held this line and appears poised to surge towards $0.83. XRP also remains steadily above its 100-day SMA, something that adds more support to this bullish thesis. 

Despite this, there are still several risk factors. For starters, the relative strength index is still slightly in bear territory. This could make upward momentum very hard to sustain. For this reason, it would be best to approach this setup with effective risk management. In fact, if XRP falls below $0.68, this analysis will become null and void.

Should you buy XRP?

As noted above, some risk still remains for XRP. But the upside potential to gain 15% in the next few days is there. In that case, you can buy XRP but make sure you use small amounts of capital. 

However, if you plan to hold the coin for the long haul, then you can buy it without any worries. XRP’s long-term outlook is very positive.

The post Ripple (XRP) could accelerate to $0.82 in the near term appeared first on Coin Journal.

The cryptocurrency market is currently experiencing a mixed performance across the board.

The broader cryptocurrency market has been experiencing a mixed performance over the last 24 hours. The total cryptocurrency market cap remains above $1.9 trillion despite adding less than 1% to its value.

Bitcoin is up by less than 1% in the last 24 hours and currently trades above $41k per coin. Ether maintains its price above $3,000 despite losing less than 1% of its value so far today.

However, CAKE, the native token of the Pancakeswap decentralised exchange, is the best performer amongst the top 50 cryptocurrencies by market cap. CAKE is up by more than 8% in the last 24 hours, outperforming the other top coins and tokens during that period.

The major catalyst behind CAKE’s ongoing positive performance is the completion of its Masterchef V2 migration. The Pancakeswap team announced a few hours ago that the migration to V2 is now complete.

Pancakeswap informed its community members that they will need to migrate their farms and pools staking to the new MasterChef to keep earning staking rewards.

Key levels to watch

The CAKE/USDT 4-hour chart is currently bullish, thanks to Pancakeswap’s ongoing positive performance. The technical indicators show that CAKE is outperforming the other major cryptocurrencies at the moment. 

The MACD line is within the positive region, indicating bullish momentum. The 14-day relative strength index of 72 shows that CAKE is close to entering the overbought zone.

At press time, CAKE is trading at $9.28 per token. If the bullish momentum continues, it could hit the $9.87 mark before the end of the day, surpassing the first major resistance level in the process.

In the event of an extended rally, CAKE will trade above $10 for the first time since January 2022. 

The post Here is why Pancakeswap is up by nearly 10% today appeared first on Coin Journal.

Cryptocurrencies have moved from obscurity in the past decade to become one of the biggest and most active asset classes in the world. There are now over 18,000 cryptocurrencies that had a peak market capitalization of over $3 trillion. In this article, we will highlight the best cryptocurrency apps for beginners in 2022.

eToro

eToro is a leading fintech company that is valued at over $8.8 billion. Started in Israel in 2007, the company has grown rapidly and now has millions of customers from around the world. The firm was initially started to offer copy-trading services in the forex industry. Over the years, it has expanded its services to other solutions.

eToro is a good cryptocurrency app for several reasons. First, it offers multiple assets to its traders and investors. In addition to cryptocurrencies, the company lets you buy and sell assets like stocks, currencies, commodities, and exchange-traded funds among others. 

Therefore, you can make money in cryptocurrencies when the stock market is closed. Similarly, you can make money in assets like stocks and commodities when cryptocurrencies are going through challenges.

Second, eToro was the pioneer of copy-trading. This means that you can copy trades and crypto portfolios from experienced professionals. Therefore, if you are a beginner, you will be able to make money in cryptocurrencies by simply copying other people. Similarly, if you are an experienced trader, you will be able to diversify your income by copying other traders. 

Third, eToro has multiple payment options that lets you deposit and withdraw your funds. Some of these options are credit and debit cards, PayPal, Skrill, Neteller, Rapid Transfer, Klarna, Bank Transfer, and Poli among others. Therefore, you can select the option that suits you.

Most importantly, eToro has excellent ratings and reviews from its users. Its Android app has a 4.5* while its iOS app has a 4.6*. This means that its users love it. 

Binance

Binance has emerged to be one of the fastest-growing companies in the world. The firm was established in 2017 and has grown its valuation to over $300 billion. It has almost 100 million customers and it handles over $70 billion of funds every day. Notably, Binance has achieved this milestone without having a headquarters.

Binance operates multiple platforms. It has cryptocurrency apps that are available in Android and iOS ecosystems. Further, it has a web application that can be accessed in all browsers like Chrome and Microsoft Edge.

There are several reasons why Binance is a good cryptocurrency app. First, it provides thousands of assets that you can trade. Unlike Coinbase, Binance takes less time to list new cryptocurrencies. For example, it was the first exchange to list ApeCoin and Shiba Inu when they were launched.

Second, Binance offers various ways to buy and trade digital coins. You can buy cryptocurrencies directly or using its peer-to-peer feature. Most people use the arbitrage strategy to buy a coin cheaply and then sell it at an expensive price in the market.

Third, one can receive discounts when they use the BNB token to trade digital currencies. BNB is the native currency created by Binance.

Further, its applications have excellent reviews from users and its transaction costs are a bit lower than those of other coins.

CoinMarketCap

CoinMarketCap is another popular cryptocurrency app that is highly recommended to beginners. Unlike eToro and Binance, the application does not allow you to buy and sell cryptocurrencies. However, you can use it to make better decisions when trading digital assets. Notably, the application is owned by Binance.

The main feature of CoinMarketCap is the ability to let you identify prices and market capitalization of all cryptocurrencies. The application has other features. For example, you can create a virtual portfolio of cryptocurrencies that you follow. 

Also, you can see the coins that are trending and those that have been added to its platform. For example, if you see ApeCoin jumping, you can move to your exchange and execute your trade.

Further, CoinMarketCap has a news feature that consolidates news and analysis from multiple sources. You can use this information to boost your trading. Therefore, CoinMarketCap is a very useful app for cryptocurrency beginners.

Coinbase

Coinbase is the second-biggest company in the blockchain industry with a market cap of over $38 billion. It is a publicly-traded company that has more than 89 million customers from around the world. Like Binance, Coinbase allows its users to buy and sell cryptocurrencies through its web and mobile applications.

To use Coinbase, you just need to create an account with your name and email address. After verifying your identify, you can easily deposit funds and then start investing or trading digital assets. Some of the most common deposit options are debit and credit cards, bank transfer, PayPal, and Apple Pay among others. 

There are several reasons why Coinbase is a good app for beginners. For example, it is a safe option, has multiple deposit options, and it has minimal fees. 

Nexo

Nexo is another useful cryptocurrency app for beginners. The company offers a number of cryptocurrency-related services. Its flagship feature is one that lets people deposit their cryptocurrencies and then borrow money. The idea is that your coins will continue gaining in value if cryptocurrency prices rise.

Nexo also offers a yield feature that allows you to earn a return by just depositing your cryptocurrencies. Most importantly, it has introduced a feature that lets users to buy and sell digital coins. Users can get discounts when they hold the NEXO token.

Summary

The number of apps in the cryptocurrency industry is rising. In this article, we have focused on just five applications that we believe are ideal for beginners. Other popular ones are Kraken, Huobi, and CoinGecko.

The post 5 Best Cryptocurrency Apps for Beginners in 2022 appeared first on Coin Journal.