Kategorie: Ethereum News

Ethereum price remained under intense pressure on Wednesday as the crypto industry dealt with the FTX fallout. ETH was trading at $1,216, which was lower than this week’s high of $1,290. The price is about 13% above the lowest level this month.

Is ETH bottoming

The biggest cryptocurrency news this month has been the fallout of FTX, the second-biggest exchange in the world. Its collapse was the biggest one since 2014 when Mt.Gox went out of business, leading to millions in losses.

Ethereum and other cryptocurrencies have seen their prices crash amid rising contagion risks. Historically, the prices of most assets tend to decline when a major associated asset collapses. For example, banking stocks crashed hard in 2009 after the collapse of Lehman Brothers.

Ethereum price pulled back as demand for cryptocurrencies has waned. The number of people investing in cryptocurrencies has crashed while outflows from exchanges have grown.

The same is true with other associated industries. For example, the total value locked in Ethereum’s DeFi network has dropped from more than $150 billion in 2021 to about $40 billion. Most lending and decentralized exchanges have seen significant outflows.

The same is true for the Non-Fungible Token (NFT) industry. Recent data shows that the volume of transactions in the industry has declined. Some analysts believe that the bubble in NFTs is bursting as many investors struggle to exit.

Still, there is a silver lining in FTX’s crash. First, because of its magnitude of the clash, there will be new regulations to weed out the bad apples in the crypto industry. This is in line with how the US responded to the collapse of Lehman Brothers. 

Second, for Ethereum, it could lead to more demand for decentralized exchanges (DEX). Analysts believe that DEXes like Uniswap and dYdX are safer than their centralized peers.

Ethereum price prediction

The chart below shows that the ETH price has been in a strong bearish trend in the past few days. Along the way, the coin has formed a bearish pennant pattern that is shown in black. Historically, a bearish pennant pattern is usually a bearish sign. It has also moved slightly below the 25-day and 50-day moving averages. 

Therefore, there is a likelihood that Ethereum price will soon have a bearish breakout as sellers target the key support at $1,100.

How to buy Ethereum

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

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The post Ethereum price prediction as a bearish pennant forms appeared first on CoinJournal.

An Ethereum (ETH/USD) bull run is around the corner, according to former Goldman Sachs strategist Raoul Pal. According to Pal, Ethereum likely bottomed out in June. He says that once liquidity gets in the market, the price will pump, with the analyst expecting ETH to outperform BTC.

When quizzed about the recent collapse of the crypto exchange FTX, the ex-Goldman guru says such times precede big price moves. He believes “the lows of despair are pervasive, as everyone loses their minds.” In his view, the Ethereum network keeps growing, which should be interpreted as a bullish catalyst. 

The comments may not be received in the same quarters, going by popular crypto analyst Benjamin Cowen’s views. According to Cowen, ETH will likely hit $600. He refers to the 2018 drawdown of about 95% for ETH. In his view, if history repeats itself and ETH falls just 87%, it will be at $600 already. The analyst says the price is when ETH’s logarithmic regression band fits its “non-bubble data.”

Apparently, ETH trades at $1,289 as of press time. The level is slightly above key support of $1,230. Recently, the cryptocurrency traded near the June lows at $1,080. Should we see a further recovery?

ETH is recovering from support after the recent drop

Source – TradingView

On the daily chart, ETH is pushing from an oversold price below $1,100. The RSI reading has moved higher but remains below the midpoint. It shows there are still more sellers for ETH at the crucial support.

Will ETH proceed lower or higher?

Aside from the controversies of ETH’s bottom price, the token has shown resilience when crypto sentiment is right. ETH has always defended the June lows, underlining that investors see the price as attractive. That gives the cryptocurrency a real chance of recovering from the level.

On the flip side, the macro concerns continue to linger. We have seen tokens hitting new lows in the year after the FTX fiasco. In our view, a journey to below the June lows for ETH will be pegged to the macro developments. Positive sentiment will allow ETH price to stay elevated from the June lows.

Where to buy ETH

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy ETH with eToro today Disclaimer

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy ETH with Skilling today Disclaimer

 

The post Why ex-Goldman strategist thinks Ethereum already bottomed out. A technical outlook appeared first on CoinJournal.

2022 has been characterised by a prolonged crypto winter. For this reason, most cryptocurrencies are trading at depressed levels. But one sure thing is that digital assets will be back on track again. Thus, buying the best tokens will rank top in investors’ minds. 

Tokens of reputable blockchains like Ethereum will top the list of the best investable opportunities. The following tokens will outperform the market in the bull market.

Ethereum (ETH)

ETH is the native cryptocurrency of the Ethereum blockchain. It is the second largest cryptocurrency, making it one of the most important tokens. Having topped $4,800 in value in November 2021, ETH trades at a quarter-fraction of its former self.

Ethereum completed its much-anticipated Proof-of-Stake shift or Merge in September this year. Although initially falling after the Merge, investors followed up with the token accumulation. That helped ETH to rise back to $20,000. It has since been falling in the wake of concerns over the collapse of the FTX exchange.

In the next bull run, ETH could pick up where it left off and return massively to investors. A return to the previous all-time high could see the cryptocurrency return by more than four times.

Where to buy ETH

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy ETH with eToro today Disclaimer

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy ETH with Skilling today Disclaimer

Polygon (MATIC)

Aside from the native ETH token, Polygon’s MATIC is easily the best Ethereum-based token. Polygon blockchain serves as an Ethereum scaling solution. Owing to Ethereum’s high gas fees and slow transactions, Polygon has created a name as the run-to blockchain for investors seeking interoperability.

MATIC rose to prominence in 2021, tapping a high of $2.90. Although the cryptocurrency has crashed this year alongside other cryptos, several developments have occurred. The latest was the selection of Polygon by tech giant Meta for NFT minting. The cryptocurrency has also demonstrated resilience and has been recovering, teasing investors interested in the Layer-2 scaling solution.

Where to buy MATIC

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy MATIC with eToro today Disclaimer

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy MATIC with Skilling today Disclaimer

Decentraland (MANA)

You can’t talk of the metaverse without mentioning Decentraland’s MANA. However, after a boom in 2021, owing to the number of entities entering the virtual reality world, the situation has been different this year. MANA has been on a downward spiral, presenting opportunities for dip buyers.

Investors have not given up, and the metaverse will continue to grow. The sector is expected to grow up to $13 trillion by 2030. As a leading metaverse-focused blockchain, Decentraland will continue to grow. Consequently, its native token, MANA, will follow suit.

Where to buy MANA

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy MANA with eToro today Disclaimer

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy MANA with Skilling today Disclaimer

The post Best 3 Ethereum-based tokens to watch when the bull market returns appeared first on CoinJournal.

ETH price has not been left behind in the ongoing cryptocurrency meltdown. Ethereum crashed to a low of $1,136, which was the lowest level since July last year. The coin has crashed by more than 27% from the highest level this year, bringing the year-to-date losses to over 60%.

FTX crash could benefit Ethereum

Ethereum price has been in a strong bearish trend in the past few months as cryptocurrencies crash. This week’s sell-off was triggered by the crash of FTX, the third-biggest crypto exchange in the world.

Most cryptocurrencies have plunged as investors predict that this could be the industry’s Lehman moment. As a result, many investors have exited their crypto positions.

Still, a closer look at the situation shows that Ethereum could actually benefit from this crash. For one, in the past few months, we have seen the collapse of several centralized exchanges (CEX), including Voyager Digital, Celsius, Vauld, and BlockFi.

In the same period, most DeFi exchanges like Uniswap, PancakeSwap, and SushiSwap have continued doing well. This is notable since Ethereum hosts some of the biggest DEXes in the world like Uniswap, Curve, SushiSwap, and dYdX among others.

Analysts believe that DEXes are better than CEXes for several reasons. First, they are open-source in nature, meaning that anyone can manipulate the code. Second, DEXes are transparent, meaning that anyone can track the flow of coins in their ecosystems.

Third, they are decentralized in nature, meaning that insiders don’t have more significant powers than other DAO members. 

Therefore, there is a likelihood that DEXes will continue thriving in the long term. And if this happens, Ethereum will benefit since it is the biggest player in the industry.

Nonetheless, for now, Ethereum and other crypto prices will likely continue falling as concerns about the industry remain.

Ethereum price prediction

The daily chart shows that ETH price has been in a strong bearish trend in the past few months. The sell-off accelerated this week after the collapse of FTX, As it dropped, it managed to move below the important support level at $1,236, which was the lowest level in October.

It has moved below the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved below the oversold level. Therefore, Ethereum price will likely continue falling as sellers target the key support level at $1,000.

The post ETH price forecast: How low can Ethereum drop? appeared first on CoinJournal.

Choosing a reliable cryptocurrency casino requires due diligence and if you have been perusing the internet for one, you must have come across Roobet Casino, which is a popular name in the casino market.

This review looks into Roobet features, how it works, game offerings, bonuses, pros and cons, and a genuine opinion on why you should choose it.

Before getting into the review, it is important to know that Roobet Casino was established in 2018 and is operated by Raw Entertainment B.V.

How Roobet Casino works

Roobet is a leading online crypto casino that holds a license from the Government of Curacao. It is currently a cryptocurrency-only casino that only allows deposits in form of cryptocurrencies and not fiat currencies.

To participate in the various games offered by the casino, you have to register for an account first. The registration process is easy and fast. You are only required to provide a username and a strong password.

You can then proceed to deposit bitcoins (BTC), Ethereum (ETH), or Litecoin (LTC) to get some funds to participate in the various poker games offered on the Roobet website.

Depending on your country of origin, you may be required to submit documents that prove you are compliant with know your customer (KYC) and anti-money laundering (AML) rules before placing bets. But in most cases, Roobet requires the submission of KYC and AML documents before initiating withdrawals.

Key features

Available games: Slots games (including Roo Bonanza, Tom of Madness, Money Train 2, Mega Fortune, and Cherry Pop), Crash games, Live Casino Games (including cryptocurrency Blackjack, Baccarat, Roulette, games offered by Bitcoin poker sites, and others), Sportsbook, House games, and Drops & wins games.

Live Betting & Events: If you like playing live poker games, Roobet offers several live events under Roo’s live lounge. Some of the games here include Rooolette and Roo’s BlackJack.

Accepted cryptocurrencies: Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH)

Regulation: Roobet is registered under the Government of Curacao

Fees: There are no transaction fees.

Free Funds: unlike most casinos allows players to earn extra points that they can exchange with Roobidos. You earn points as soon as you start depositing funds into your account, test the various apps on the website, and participate in various promotional events or surveys.

Customer support: You can access Roobet’s customer support team through Email, Social Network, and Chat Support and it supports English, Spanish, Portuguese, French, and Serbian languages.

Roobet Casino Pros and Cons

Pros

Roobet is a registered online casino website making it a reliable site where the safety of your funds is guaranteed.

Roobet offers free funds that allow you to can earn Roobidos without depositing any funds. All that is required is for you to enter a certain Roobet bonus code.

The casino offers a wide variety of games. You will hardly lack an entertaining game that you can play on Roobet.

It provides lucrative promotions and bonuses that include a VIP reward system for loyal casino members.

There is a very supportive customer support team that ensures that all your need are quickly attended to. Urgent disputes can be settled through live chats.

Roobet does not charge transaction costs like in other popular online casinos thus making it cheaper to participate in games.

Roobet is very strict when it comes to players submitting KYC and AML and that exemplifies the legitimacy of the platform.

Roobet allows you to place bets before submitting your KYC and AML documents depending on the country you are playing from although you will be required to submit the documents before initiating any withdrawal.

Cons

It is a cryptocurrency-only online casino meaning you cannot fund your account using fiat currencies which can be quite disadvantageous if you are not into crypto.

It does not accept bank transfers since cryptocurrencies are transferred from crypto wallets rather than bank accounts.

While it accepts players from around the globe, it does not accept customers from some countries such as the USA, the UK, Australia, Bonaire, Gibraltar, Cyprus, and Guernsey.

Roobet does not support the use of VPNs. If you are caught using VPNs from restricted countries, you risk having your funds frozen and your accounts terminated.

Why you should bet using Roobet crypto Casino

As long as you are not from one of the restricted countries, you can find a very wide selection of online crypto casino games to play on Roobet especially if you hold BTC, ETH, or LTC cryptocurrencies.

In addition, you will not be required to pay any transaction fees to participate in any of the games making it cheaper for you to participate compared to using other online casinos. You will also be entitled to a number of rewards including extra points to exchange for Roobidos.

Besides the fact that you cannot fund your account using fiat currencies, Roobet can be a good choice if you are looking for one of the best online casinos that are registered and regulated.

Final Verdict

While selecting a good crypto casino can be quite challenging, this Roobet Casino review will assist you with some of the features and games that you expect to come across if you decide to choose Roobet.  It also provides you with a clear outlook on the pros and cons of using the casino.

The post Roobet Casino review: features, pros and cons appeared first on CoinJournal.