Kategorie: Crypto Analysis

Cryptocurrency prices drifted upwards this week as investors reacted to the risk-on sentiment in the market. That view is supported by the performance of US equities like the Dow Jones, Nasdaq 100, and S&P 500. The US dollar index (DXY) has also pulled back as geopolitical risks have faded.

Bitcoin price has remained above $66,000 while altcoins like Pepe, Algorand, and Hedera Hashgraph (HBAR) have continued rising. BitBot ($BITBOT), on the other hand, has continued thriving as it raised over $2.8 million.

Pepe price forecast

The price of Pepe token bottomed at $0.0000039 earlier this month and then bounced back to a high of $0.0000080, its highest point since April 1st. It has soared by more than 100% from its lowest point this month.

The token has remained above the 50-day and 100-day Exponential Moving Averages (EMA). It has also risen in the past seven straight days, the longest winning streak in months. Pepe has also jumped above the strong pivot reverse point of the Murrey Math Lines. 

Meanwhile, the Relative Strength Index (RSI) and the Stochastic Oscillator have all pointed upwards, meaning that it has momentum. The Average Directional Index (ADX) has remained above 20. Therefore, the outlook for the token is bullish, with the next point to watch being at $0.00010, which is about 26% above the current level.

Algorand price prediction

The Algorand price bottomed at $0.1490 this month and then bounced back as the crypto rally resumed. It has rebounded to $0.2616, its highest swing since April 1st of this year. The token has now pulled back and retreated to the key point at $0.2400. It has remained above the 50-day and 100-day moving averages and the Ichimoku cloud indicator.

The Relative Strength Index (RSI) index has also pointed upwards. Therefore, the pair will likely now move to a consolidation phase in the coming days and then resume the bull run. If this happens, the token will likely rise to the key resistance point at $0.30, which is about 30% above the current level.

BitBot analysis

Meanwhile, BitBot, an upcoming cryptocurrency, is doing remarkably well as demand for the token rises ahead of the eventual token listing. The developers have raised over $2.8 million from investors in its current stage.

For starters, BitBot is a project that is aiming to transform the financial trading industry by creating a decentralized trading bot. The bot will be distributed using Telegram, an application used by more than 900 million users around the world.

The network will have features like revenue sharing, exclusive access to $BITBOT holders, and governance.

Therefore, the BitBot token is doing well as investors cheer its potential growth in the artificial intelligence (AI) and the financial services industry.  You can buy the BitBot token here.

The post Crypto price predictions: BitBot, Pepe, Algorand (ALGO) appeared first on CoinJournal.

TL;DR

• AKT is the best performer amongst the top 100 cryptocurrencies by market cap today, adding 54% to its value.
• Algotech’s presale is approaching the $4 million mark as more investors troop into the project.

AKT leads the market charge

The cryptocurrency market has been performing well since the Bitcoin halving on Friday. However, Akash Network’s AKT token leads the charge after performing excellently over the last few days.

AKT is up by 54% in the last 24 hours, outperforming the other major cryptocurrencies by market cap. At press time, AKT is trading at $6.24, up by 75% over the last seven days. 

Akash Network’s rally comes after the token was listed on Upbit, a leading South Korean cryptocurrency exchange. The crypto exchange added USDT and Korean won trading pairs for AKT.

What is Algotech?

Algotech continues to generate steam amongst investors as its presale is approaching a key milestone. The project is developing a cutting-edge decentralized algorithmic trading platform designed specifically for the fast-paced world of cryptocurrency trading.

Algotech targets retail traders and will provide them with advanced algorithms and machine-learning features. The project is bringing AI features to retail traders with the intention of eliminating the limitations and challenges associated with manual trading.

Algotech’s unique AI features

Algotech seeks to take advantage of the growing volume in the cryptocurrency market to help traders achieve their trading goals. Thanks to the launch of Bitcoin ETFs, large institutions are coming into the market, which means there is more liquidity now than in the past. 

As the trading volumes increase, crypto traders need to develop their edge to make a profit. Algotech will help traders build their edge in the market. Its advanced algorithms analyze assets across over 1000 unique data points to identify the next breakout opportunities. 

The platform’s algorithms also enable traders to make split-second entry decisions for high-precision trading. The platform monitors market funding levels, availability, liquidity and spread. This helps reduce risk for traders. 

Algotech also comes with an AI-based trailing stop feature, which allows traders to manage risk and protect their trading capital. Its AI tools also present traders with arbitrage opportunities. In addition to that, Algotech provides access to trading strategies, community resources, and trading education.

Will Algotech be a strong project?

Algotech is still in its presale but it could become a very strong project in the cryptocurrency space. If the development team rolls out its features and products, it could attract thousands or even millions of traders in the crypto space. 

Their whitepaper indicates that only 30 million ALGT tokens will be issued. Of this amount, 10% of the tokens have been allocated to R&D and funding for testing, durability and performance on the current and new algorithms.

Furthermore, another 10% has been allocated to the support in promotion and bounty to partners. The founders will hold on to only 7% of the total supply while the team gets a 3% allocation. Finally, 70% of the total token supply is available for public sale (including marketing).

Token holders will enjoy certain incentives such as a percentage of trading fees on the platform. They would also participate in governance decisions within the Algotech ecosystem. 

Should you purchase ALGT tokens?

The Algotech presale is moving swiftly and is currently in its third stage. It has raised nearly $4 million so far and could go higher in the coming days and weeks. In this stage, the ALGT token is going for $0.08, with more than 98,000 tokens sold so far.

With the right level of adoption, Algotech’s ALGT token could record massive gains in the medium to long term. In addition to Algotech’s features, token holders will receive a certain percentage of platform trading fees.

The post Akash Network’s AKT rallies by 54% today as Algotech’s presale approaches $4m appeared first on CoinJournal.

Key takeaways

• BTC continues to struggle below the $64k level ahead of the Bitcoin halving event in two days.
• Bitbot’s presale is now above $2.5 million.

Bitcoin stays below $64k ahead of halving

Bitcoin has been struggling in recent weeks and could record further losses if the market condition persists. At press time, the price of Bitcoin stands at $63,030, up by less than 1% in the last 24 hours. 

The poor performance comes ahead of the Bitcoin halving event in two days. The Bitcoin halving will see Bitcoin mining rewards slash by 50% from 6.25 BTC per block to 3.125 BTC.

Historically, the halving event leads to a massive surge in Bitcoin’s price. However, it remains unclear how Bitcoin will perform in the near term. 

What is Bitbot? 

While Bitcoin and other major altcoins continue to underperform, some presales are generating record funding from investors. Bitbot is one of the projects that is raising capital from investors to address certain pain points in the market.

Bitbot is a Web3 project that is set to bring unique value propositions to traders in the cryptocurrency space. It is a Telegram trading bot that puts the power in the hands of the user. 

The project describes its product as a self-custodial trading bot that enables users to trade via their cold wallets on Telegram. Bitbot provides traders with an innovative way of trading and is leveraging Telegram’s position as a leading social media platform for crypto users. 

It is set to provide users with high-end features to help traders grow their trading portfolios. The right level of adoption could see Bitbot become one of the most widely used tools by cryptocurrency traders. 

Bitbot’s tech could improve trading chances

To improve the trading chances of its users, Bitbot will be introducing a wide range of tech innovations. Per their whitepaper. Bitbot will leverage the Knightsafe to offer a self-custody solution. This solution helps in mitigating the typical risks associated with Telegram trading.

The team is currently developing anti-MEV and anti-rug solutions to help users protect their assets. With these features, traders can protect themselves from bots artificially pumping transaction costs and block scam projects.

Some of the funds generated from the presale will also be used to integrate Ultra-flexible wallet management fuelled by non-custodial API technology. 

The copy-trading feature will enable traders to copy the trades of the strongest-performing wallets based on on-chain activities.

Bitbot’s presale hits $2.5m

The Bitbot presale is now in its tenth stage and is now moving swiftly. So far, the project has raised $2,506,930 of the required $2,518,000 in this current stage. 

Bitbot continues to raise funds from investors despite the poor market conditions. The $BITBOT token is going for $0.0155 in the current presale round and will increase to $0.0163 once the eleventh round commences. 

The whitepaper indicated that the Bitbot development team will hold 20% of the total token supply and will use it to fund ongoing development. Furthermore, 14% is allocated to marketing & CEX listings while 3% is allocated to exchange liquidity provision.

Click here to read more about Bitbot’s upcoming presale. 

Should you buy the Bitbot token now? 

While the crypto market has been underperforming in recent weeks, Bitbot’s presale continues to attract more investors. The project seeks to take advantage of the growing trading volume in the market to attract more users. 

Bitbot is looking to gain massive adoption in the market by offering unique technologies that would allow traders to improve their trading activities. BITBOT could become one of the biggest winners in this cycle with the right level of adoption. As trading volume in the market increases, BITBOT could also see a surge in adoption if it rolls out its features and solutions.

The post Bitcoin struggles below $64k ahead of the halving: Will it plunge lower? appeared first on CoinJournal.

ORDI, Fantom (FTM), and Aave were among the worst performers in the crypto industry during the weekend as the crypto sell-off intensified. The ORDI token crashed by over 15% in the past 24 hours and has retreated by over 50% from its highest point this year.

Fantom, on the other hand, crashed by over 8% in the past 24 hours and has retreated by more than 45% from the year-to-date high. Similarly, the AAVE token plunged to a low of $72.76, which is much lower than the year-to-date high of $153.90. The other most popular laggards were coins like KuCoin Token (KCS), XRP, and Ethereum Classic. 

Not all cryptocurrencies were in the red. Bittensor (TAO) token rose by over 20% in the past 24 hours while Celestia (TIA), Dogwifhat (WIF), and Wormhole (W) soared by more than 10%. BitBot too continued its token sale, raising over $2 million.

Why cryptocurrencies plunged

There are three main reasons why cryptocurrencies crashed during the weekend. First, crypto investors are likely selling the news as the Bitcoin halving event is set to happen in less than two weeks. 

This situation is known as buying the rumour and selling the news. They have already bought the rumour as the coin has surged from below $20,000 to a high of over $73,000.

Second, they crashed because of the geopolitical risks that accelerated during the weekend. Iran retaliated against Israel by firing over 300 drones and rockets. Most of these strikes were unsuccessful, helped by the country’s iron dome. 

These tensions mean that the price of crude oil could continue rising in the coming weeks. Brent, the global benchmark, has already jumped to a multi-month high of $92. 

Third, there are signs that the Federal Reserve will not cut interest rates in the coming months as was widely expected. That explains why the US dollar index has jumped while US equities and bonds have retreated. 

Still, in the long term, analysts believe that cryptocurrencies will continue doing well because of Bitcoin. Besides, the coin is still getting rare because of halving while institutional investors are moving to the coin.

BitBot token sale intensifies

BitBot is thriving even as the crypto sell-off continues. The developers have already raised over $2.3 million from investors and are slowly nearing stage ten’s target of $2.5 million.

For starters, BitBot is one of the most ambitious companies in the blockchain industry. The developers are aiming to disrupt the fast-growing Telegram bot market that has been rife with fraud for years.

BitBot will be a Telegram bot with some of the most advanced features in the industry. In addition to technical indicators, the platform will have advanced artificial intelligence (AI) features that will help give near-accurate signals.

Further, BitBot will be powered by blockchain technology, which will help to reduce or prevent fraud. This technology will also help to decentralize the network, making it possible for all token holders to take advantage of its governance. You can buy the BitBot token here.

The post ORDI, Fantom, Aave prices lead losses as BitBot defies gravity appeared first on CoinJournal.

• Sweden’s online gambling sector to hit €2bn/yr by 2027, driven by growing adoption of cryptocurrencies
• Riksbank is wary of crypto’s role despite market growth
• Cryptocurrencies are increasingly popular in Swedish online gambling sites

The online gambling sector in Sweden is poised for significant growth in the coming years, with projections indicating revenue reaching €2 billion annually by 2027.

This forecast underscores the robust expansion of the Swedish online gambling market, driven by evolving customer preferences and market dynamics.

Riksbank’s stance on cryptocurrencies

Despite the optimistic outlook for the online gambling sector, the Swedish central bank’s skepticism towards cryptocurrencies remains evident.

Riksbank Governor Erik Thedeen has expressed reluctance towards incorporating Bitcoin (BTC) and other cryptocurrencies into the country’s financial system.

Thedeen emphasizes the speculative nature of cryptocurrencies and the risks associated with their volatility, aligning with Sweden’s cautious regulatory approach in the crypto space.

Growing popularity of cryptocurrencies in online gambling

Despite the Riksbank’s stance, cryptocurrencies like Bitcoin are increasingly gaining traction as preferred methods of deposit and withdrawal among users of online gambling sites in Sweden.

This trend reflects the broader global adoption of crypto within the online gambling industry, offering users greater anonymity, security, and efficiency in transactions.

The Swedish gambling landscape

In Sweden, online gambling has become increasingly popular, with customers favoring the convenience and accessibility offered by digital platforms. The rise of smartphones and improved internet connectivity has facilitated this shift, allowing users to enjoy a wide range of casino games and betting options from the comfort of their homes or on the go.

Key trends in the Swedish online gambling market include the rising popularity of mobile gambling and the demand for live dealer games. Mobile gambling, in particular, has witnessed significant growth, driven by the widespread adoption of smartphones and mobile-friendly gambling platforms.

Additionally, live dealer games provide users with a more immersive and interactive experience, further enhancing the appeal of online gambling.

The Swedish gambling landscape is characterized by a well-regulated market overseen by the Swedish Gambling Authority (Spelinspektionen). This regulatory framework ensures consumer protection and responsible gambling practices, contributing to the market’s growth and stability.

Despite regulatory challenges and the Riksbank’s reservations about cryptocurrencies, an overview of the online casino sector in Sweden shows a projected expansion, driven by evolving consumer preferences and market dynamics.

According to recent data from Statista, revenue in the online gambling market is expected to reach €1.69 billion in 2024, with an annual growth rate of 6.20%. By 2028, the market volume is forecasted to surpass €2.15 billion, driven by the increasing number of users and their growing average revenue per user (ARPU).

The projected revenue growth of the Swedish online gambling sector underscores its significant contribution to the country’s economy.

Conclusion

The Swedish online gambling sector is experiencing robust growth, with revenue projections indicating substantial expansion in the coming years.

Despite regulatory challenges and the central bank’s skepticism towards cryptocurrencies, online gambling remains a thriving industry in Sweden, offering consumers a diverse range of gaming experiences and opportunities.

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