Kategorie: Crypto Analysis

Cryptocurrencies have been some of the best-performing assets to invest in lately, For example, while the S&P 500 index has risen by about 90% in the past five years, Bitcoin has surged by over 3,400% in the same period. Other coins have done even better. In this article, we’ll look at the best crypto for beginners to invest in and why.

1. Bitcoin (BTC)

Bitcoin is the best-known cryptocurrency globally. It was the first coin ever started and its total market cap has surged to over $800 billion and is the best crypto for beginners because of the volume of material available about it. 

Most importantly, BTC is usually the main driver for other digital coins. They tend to rise when Bitcoin rises and vice versa. Further, Bitcoin is offered by most online exchanges and brokers. It has also had a lot of success over the years as its price has risen from less than $1 to a peak of almost $70,000.

Learn how to buy Bitcoin with our in-depth guide or invest with our recommended platform below.

2. Ethereum (ETH)

Ethereum is a giant in the blockchain industry. It is a second-generation platform that has smart contract features. These tools make it possible for people to build other decentralized applications (dApps). Today, 80% of all blockchain projects have been built using Ethereum’s platform. 

For example, in DeFi, popular platforms like AAVE, Curve, Maker, and Compound were all built using Ethereum. Similarly, in the non-fungible token (NFT) industry, Ethereum was used to build popular platforms like OpenSea and Axie Infinity. The same is true in the metaverse, where it was used to build Decentraland.

All this has happened at a time when Ethereum is facing strong competition from the likes of Solana, Avalanche, and Terra. As it moves to a proof-of-stake network, there is a possibility that its demand will keep rising.

Learn how to buy Ethereum with our in-depth guide or invest with our recommended platform below.

3. Terra (LUNA)

Terra is another cryptocurrency to invest in by beginners. It is built using the Cosmos SDK and has been used in a number of ways. For example, developers have used Terra to build some of the biggest DeFi apps like Lido, Astroport, and Anchor Protocol. 

At the same time, Terra has been used to build some of the top stablecoins in the world like Terra USD, which has a market value of $16 billion. In South Korea, Terra was used to build Chai, a leading money transfer company. Therefore, Terra will likely keep growing in the next few years.

Learn how to buy Terra with our in-depth guide or invest with our recommended platform below.

4. Cosmos (ATOM)

Cosmos is a platform that is playing an important role in the blockchain industry. Its main goal is to use the Inter-Blockchain Communication (IBC) protocol to promote the communication of cryptocurrencies. It solves the challenge where most cryptocurrencies don’t communicate with one another. 

Cosmos also has an SDK that has been used to build popular blockchain projects like Terra, ThorChain, and Osmosis. It also has a big stake in Gravity DEX, which is set to become independent soon. Therefore, there is a likelihood that Cosmos will keep growing in the coming decades. This makes it a good cryptocurrency to buy among beginners.

5. Chainlink (LINK)

Chainlink is a unique cryptocurrency that is good for both beginners and experienced traders. It is a blockchain project in the smart oracle industry. Its role is to make the blockchain work by enabling developers to link off-chain data to on-chain platforms. 

As a result, its work is so important since most developers will always use its service. Chainlink has also become a leading player in the verifiable random number generator (VRF). VRF helps to promote security for blockchain platforms. Therefore, Chainlink is a good cryptocurrency for beginners because of its important role in the industry.

6. Dogecoin (DOGE)

Dogecoin is another cryptocurrency recommended to beginners. It is a coin whose goal is similar to Bitcoin in that it helps people send money. While DOGE was started as a joke, its role has become integral in the industry. 

Its prominence has been because of Elon Musk, the wealthiest person in the world who has promoted it. Many people now use Dogecoin to make some transactions and even pay tips in hotels. 

Dogecoin is a good cryptocurrency for beginners because of its cheap price and the fact that it has a long runway for growth. A single DOGE goes for $0.144, meaning that with just $100, one can buy 694 coins.

7. Cardano (ADA)

Cardano is a well-known cryptocurrency that is widely seen as a good alternative to Ethereum. It is a proof-of-stake platform that hopes to become the default place for developers to build their decentralized apps. While Cardano was founded in 2016, its smart contract features came only in 2021.

In the past few months, the number of developers using the network has grown and there is a possibility that this trend will continue. This makes it a good buy for beginners.

8. Cronos (CRO)

Cronos is a relatively new blockchain project that seeks to become a favorite among developers. Its mainnet beta was launched in November 2021 and in a few months, the amount of activity has been rising. According to DeFi Llama, the network has a total value locked of over $4 billion. This is a substantial figure considering that it is now the biggest platform in its industry. Therefore, Cronos is a good investment because of its strong growth.

9. Filecoin (FIL)

Filecoin is a web3 platform that is seeking to disrupt the file storage industry. It is using decentralization to make it easy for people and companies to improve their storage needs. It uses people from around the world to provide their free storage. It then rewards them with the FIL token, which is now valued at over $4 billion. Filecoin is a good cryptocurrency for beginners because of the real-world challenge it is solving.

10. Anchor Protocol (ANC)

Anchor Protocol is a leading DeFi platform built using Terra’s technology. It lets people deposit collateral and then take loans. It also allows people to make money by providing liquidity. In a few months, Anchor has over $18 billion in assets and the figure is growing. ANC is mostly used for governance and there is a likelihood it will keep growing.

The post 10 Best Cryptocurrencies for Beginners to Invest in 2022 appeared first on Coin Journal.

Ethereum Classic (ETC) has performed quite impressively over the last month. The coin has managed to rise from its yearly lows and hit an all-new high for the year. At one point, it was testing $60, which was huge. But ETC appears to have fallen ever since. Here are some key developments:

• After peaking at around $54 in recent weeks, the coin has lost about 20% of its value.

• ETC has also struggled to find upward momentum and continues to trade sideways

• The coin is facing a real risk of a trend reversal that could push prices further down.

Data Source: Tradingview 

Ethereum Classic (ETC) – Is a trend reversal coming?

The recent uptrend in ETC has largely been fueled by Ethereum miners who are buying the coin in anticipation of Ethereum 2.0. In fact, tracking the progress between ETH and ETC, it is clear that demand has largely favored Ethereum Classic.

For example, ETH has been on a massive bull trend since mid-march and has gained about 30%. Over the same period, ETC has gained nearly 80%. In essence, ETC has outperformed ETH by two times. But this uptrend is reversing and doing so quickly.

For instance, despite its rally, ETC has failed to breach the 200-day SMA. Also, the distance between the 50-day SMA (which ETC is above now) and the 200-day SMA is very high. This typically indicates slowed bullish momentum. We expect ETC to retreat sharply, and once it breaks $38 support, the fall will be much bigger.

Is ETC worth buying?

For now, it seems the coin has lost its upside potential. You don’t want to buy an asset that is facing a trend reversal. 

A good rule would be to give it a week or so. If the $38 is breached, then a period of selling will come, after which the price will consolidate. That would be the best time to buy.

The post Ethereum Classic (ETC) falls after hitting 2022 highs – is this a pullback or trend reversal? appeared first on Coin Journal.

Dogecoin (DOGE) has done very well to pair up some of the losses it suffered this year. But even though we have seen this strong uptrend slow a bit over the last few days, DOGE appears to be consolidating around a crucial demand zone. Here are the details:

• DOGE’s price action has been bouncing off between the $0.127 and $0.137 demand zone.

• This consolidation could provide a potential upswing of nearly 35% in the near term.

• But the meme coin will need to hold above $0.127 for this to happen.

Data Source: TradingVIEW 

Dogecoin (DOGE) – What to expect next

After consolidating between $0.127 and $0.137, it seems like DOGE is ready for an upward rally. The coin is already on a strong uptrend, and it is likely that it will try to test $0.2 in the near term. This will deliver gains of nearly 40%.

Also, the meme coin appears to be enjoying a very prolonged bull run. Although there has been a bit of volatility here and there, since the start of March, DOGE has gained around 50%. We expect this trend to maintain.

Nonetheless, the challenge for bulls right now will be to maintain the $0.127 support. So far, it seems this will be done quite easily unless something big happens in the market. We also believe that any upswing is capped at $0.2. When DOGE hits that price, it will pull back as bulls take profit.

Should you consider DOGE now?

Dogecoin (DOGE) is currently trading within an important demand zone. If you wanted to buy it, this would be the time. But a short-term strategy is less risky.

In fact, anyone buying will need to look at $0.2 as the last exit point. For investors who want to hold DOGE for longer, no need to worry. You can still buy now and forget for a while.

The post Dogecoin (DOGE) price consolidation points at a major rally – What you need to know appeared first on Coin Journal.

Despite showing strong bullish momentum in the last few weeks, it seems large wallets are not buying Cardano (ADA) as they used to. In fact, we have seen the exact opposite. But what does this mean? Is ADA risking a sell-off? Not exactly. Nonetheless, here are some important facts:

• Whale holdings for ADA are now at an all-time low

• But an influx of institutional money in 2022 could help balance the scales

• ADA remains bullish and is up nearly 35% from its lowest price in 2022.

Data Source: Tradingview 

Cardano (ADA) – Does loss of whale accumulation matter?

Well, at the end of the day, large wallets will have a massive impact on the price action of any coin. In an ideal situation, you would want to have whales holding an asset for longer. That is always a good sign. 

But despite this, it doesn’t seem like ADA has largely been affected by a drop in whale holdings in fact, in the midst of all this, the coin has surged to its best possible price in 2022 and remains well above its yearly lows as well. 

Besides, although whale holdings for ADA are at an all-time low, large wallets still hold a lot of Cardano. At least 83% of all ADA coins in circulation are held by large wallets. So, there is still a long way to go before a drop in whale accumulation starts to have a real impact.

What is Cardano’s long-term outlook?

Cardano still maintains a very positive long-term outlook. Conservative estimates expect ADA to close out 2022 at $4, which will be about 4 times its current price.

In that case, even if whales are dumping some of their ADA holdings, this does not change the fact that the coin could still deliver immense value for investors in 2022.

The post Whale holdings in Cardano (ADA) drop to all-time lows – Should you be worried? appeared first on Coin Journal.

Aave (AAVE) has ranked among the top 5 best performing major crypto assets in the last two weeks. The coin has been on a major uptrend and in fact, it managed to break above $200 for the first time this year. So, where does the price action go from here? Here are some pointers to keep in mind:

• After surging towards $230, AAVE appears to have lost its upward momentum.

• The coin has largely remained in sideways trading for the last two days

• AAVE was also rejected at the crucial $241.8 resistance level

Data Source: Tradingview 

Can Aave find momentum?

The rejection at $241.8 was a big letdown for bulls who had managed to push AAVE quite high in the last 14 days. In fact, the coin has since retreated and is trading at around $231. We expect bulls to try and breach the $241.8 price in the coming days. 

Although this will be difficult given the current stagnation in the price action, it is not impossible. A break above $241.8 will push AAVE further above $261 before any resistance. This will represent a 15% upswing above the current price.

Despite this, there is still a very big risk of retracement. Remember AAVE has largely trended upwards for the most part of March. A correction is, therefore, due and as such, we could see a strong retracement that takes the coin back to $210. However, if the price action stays above $230, more upside will come.

Why should you consider AAVE now?

We still think that there is a little bit of upward momentum left for AAVE. In fact, a sharp rise toward $260 is still possible. Buying now will therefore give you a chance to make back at least 20% in returns. 

But the risk of retracement on the downside should not be ignored. If bulls cannot keep the price above $230, then you should probably wait for it to fall back to $210 or thereabout before buying.

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