Kategorie: Crypto Analysis

If there is one thing that we can agree on about the crypto market right now is that volatility is here to stay. Yes, crypto has traditionally been known as a highly volatile market. But in 2022, things have been quite unpredictable, to say the least. Here are some of the factors pushing this volatility:

• There are unprecedented economic and political risks in the world.

• Investors are wary of growing monetary tightening by the Fed

• Short term positions are dominating crypto investing at the moment

Well, if you want to trade in volatile market conditions, there are a few coins you can consider. Here are the top 3:

Dogecoin (DOGE)

Contrary to what most people believe, volatility in the market is not necessarily a bad thing for investors. Memecoins in particular tend to offer extraordinary volatility.

Data Source: Tradingview

While these price swings can be quite upsetting, they offer great opportunities to buy low and sell high. Dogecoin (DOGE) is one coin that should deliver immense volatility for swing traders. That way, it will be much easier to buy and sell the coin with short-term positions.

FTX Token (FTT)

For investors who are probably looking for a relatively stable coin to trade, FTX Token (FTT) is a good start. The coin will not swing wildly as DOGE or other meme coins. In fact, during the recent crypto crash, FTT managed to limit losses significantly. It is perfectly suited for people who simply need a coin that is easily predictable in the market.

Cosmos (ATOM)

There are some coins that will consistently deliver value in the long run. Yes, they are volatile every day but after a year or so, they will offer you decent returns on capital. Cosmos (ATOM) is one of these coins. It is backed by superb fundamentals and has since grown massively over the past few months. It’s a great long-term bet in crypto.

The post Top 3 coins to buy in this highly volatile market appeared first on Coin Journal.

Ripple (XRP) appears to have stopped the bleeding after two days of steep decline. The coin has in fact found some bullish uptrend in what looks like a trend reversal. But can it actually bounce back right away after crashing at the start of the week? Details are below but first, key points.

• XRP tried to test $0.5 after two days of steep losses

• The coin was however rejected at that price and has since fallen 10%

• XRP will likely retest $0.5 again this week as bulls try to find more demand

Data Source: Tradingview 

Is Ripple bouncing back?

It is important to be aware of the dead cat bounce in crypto right now. You see, after every crash, we often see some trend reversal where coins rally only to fall again. For XRP, the attempted surge towards $0.5 appears to be a dead cat bounce. 

The fact that the coin was rejected firmly in this attempt shows that there is very little demand at the moment. Besides, overall sentiment in the crypto market has not changed that much. While we expect XRP to try and reach $0.5 in the coming days, it is likely the coin will fail again. 

Also, XRP still faces crucial hurdles even if it was able to go above $0.5. The price action will struggle to maintain any prolonged upward momentum right now. For these reasons, the outlook for XRP still remains bearish in the short term.

When will XRP recover?

There were hopes that the second quarter of 2022 would provide much-needed impetus for crypto. But it is clear that sentiment in the broader market has not yet shifted significantly in a positive way. 

As such, XRP will likely face a period of high volatility until the end of June. But from a long-term point of view, there could still be superb gains by year’s end.

The post Ripple (XRP) tests $0.5 in the recent rally – Can it bounce back from the crypto crash? appeared first on Coin Journal.

Apecoin (APE) is trending upwards today in line with the broader recovery in crypto. The coin appears to have paired some of the losses we saw in the last few days. But can this renewed bullish momentum push the coin above $10? More details to follow below but first, some highlights:

• Apecoin has surged by over 40% over the last 24 hours

• The breakout comes after nearly two weeks of negative sentiment around the coin

• Reclaiming $10 could pave the way for a decisive run in the near term.

Data Source: TradingView 

Apecoin (APE) price analysis

The road towards $10 for APE now seems very plausible. After two weeks of weakness, APE has decisively trended upwards. Although the broader crypto market has recovered from losses over this week, APE is outperforming the market by almost 3 times. 

If indeed the current momentum breaks the $10 mark, it will open a new window of opportunity that could allow this NFT-based coin to surge even further. In fact, it is plausible that APE could rally towards its April highs and cross above $20. This will represent gains of up to 200%. 

Despite this, it is important to note that this renewed uptrend could just be a normal pullback. After all, the crypto market had crashed over the last few days. It was expected that the downtrend would stop slightly as it always does. If APE is not able to hit $10 in the coming days, we may see more losses again.

Can you profit from APE right now?

APE has performed quite well in 2022. But after hitting highs of around $24, the coin has faced a very steep and costly correction. Right now, APE is still trading at a huge discount compared to its previous highs. 

While we are not saying the coin will surge towards $24 in a few days, if you want to hold it for some months, this would be the most ideal time to buy.

The post Apecoin sees renewed bullish momentum – Can the coin breach $10? appeared first on Coin Journal.

The Terra LUNA crash has led to worries about the next top cryptocurrencies that could crash. Like with LUNA, it is incredibly difficult to make this prediction. Besides, in most cases, coins tend to move in unison. So, in my view, here are the two cryptocurrencies to avoid after the LUNA crash.

Waves

Waves is one of the biggest blockchains in the world. Its WAVES token has a market cap of over $797 million. It is a popular coin that has been used to build some of the most popular products in the decentralized industry. Some of the most popular apps in its ecosystem are Vires Finance and Waves Exchange.

The biggest concern about Waves is Neutrino, its algorithmic stablecoin that has a close resemblance to Terra USD. The coin has been having some serious issues in the past few months. For example, in April, it lost its peg and crashed to an all-time low of 33 cents. 

The coin is still below its parity, leading to significant concerns that it will also lose its peg in the coming months or weeks. If this happens again, we could see a major sell-off of both Neutrino and Waves. Indeed, the Waves price has already crashed by more than 88% from its highest level this year.

Cardano

Cardano is one of the most popular cryptocurrencies in the world. Like Terra, it is also one of the biggest coins in the world with a market cap of more than $19 billion. The only major difference between Cardano and Terra is that it is not associated with any large stablecoin.

The main concern about Cardano is that its ecosystem is a bit lacking. While ADA is valued at over $19 billion, its DeFi ecosystem has a total value locked of over $130 million. Critics will point to the fact that Terra’s ecosystem had a TVL of over $30 billion at its peak.

However, investors should be worried because Cardano seems to be a ghost chain that has no meaningful project in its ecosystem. This is despite the fact that it was started in 2015. 

Indeed, it seems like investors have been worried about Cardano for a while since its market has fallen from more than $91 billion.

The post 2 big cryptocurrencies to worry about after LUNA crash appeared first on Coin Journal.

The Bitcoin price is having a dead cat bounce after experiencing its worst crash this year. BTC is trading at $30,500, which is above this week’s low of $25,300. It is significantly lower than its all-time high of almost $70,000. So, will this recovery hold?

Bitcoin recovery

The BTC price has made some gains in the past few hours as investors rush to buy the dip in the coin. Many of market participants believe that the coin has gotten extremely cheap considering that it has had its worst week this year.

A closer look at the market shows that the BTC recovery mirrors that of the stock market. In the past two days, technology stocks have been a bit positive following some notable developments. The Nasdaq 100 index has risen from the intra-week low of $11,700 to $12,213. Recently, we have seen a close correlation between tech stocks and digital currencies.

Further, Bitcoin price has held steady since Tether has held quite well. On Thursday, the stablecoin lost its peg for a while, causing many investors to worry about its future. This happened as the Terra USD stablecoin continued struggling.

Learn more about how to buy Bitcoin with PayPal.

Another reason why Bitcoin is doing well is that many big investors seem to be holding their stakes in the coin. For example, in an interview with CNBC on Thursday, Bill Miller, a legendary investor, said that he was still holding his assets. Similarly, other investors like Tesla and MicroStrategy are yet to sell their stakes.

Still, investors should take this rally with a grain of salt. Historically, assets tend to bounce back briefly after a major sell-off. This happens as investors buy the dip. In most cases, the relief rally, which is often known as a dead cat bounce, tends to ease.

Bitcoin price prediction

The four-hour chart shows that the BTC price formed a hammer pattern on Thursday. In price action analysis, this is one of the most reliable bullish reversal candlestick patterns. The coin is now stuck at the 25-day moving average while the Relative Strength Index (RSI) has pointed upwards.

Therefore, there is a possibility that the Bitcoin price will keep rising during the weekend especially if the Nasdaq 100 index closes in the green. However, in the coming days, there is a likelihood that the pair will resume the downward trend in the coming week.

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