Crypto News Archive - Seite 1369 von 1899 - Finanzmittel Info + Krypto + Geld + Gold

14. November 2022

4% of Brits think crypto is a “woke” thing Gen Z loves

One of the greatest barriers to entry for cryptocurrency is undoubtedly comprehending it.

Blockchain technology is difficult to get one’s head around. It has only been around since 2009, so it can also be difficult sometimes to find good resources on where to learn about it. Not only that, but the repeated collapses – the FTX implosion being the latest – put people off looking into it.

Education is paramount. This is the single biggest thing I noticed when I visited El Salvador this summer, where Bitcoin is legal tender. So many people I talked with had difficulty truly understanding it.

I was told by a Wallmart cashier that I could not pay with Bitcoin because I did not have the government-owned Chivo wallet. This is obviously false, as Bitcoin’s lightning network does not discriminate – you just need a QR code and the Bitcoin will go. It is a decentralised network and there is no such thing as certain wallets not being able to send to other wallets.

One barman also said that he tried to learn about it but gave up after a week because he “didn’t have a computer brain”.

It’s no different outside of El Salvador. I wrote recently about how 48% of Brits know almost nothing about crypto. This is the same for countries all around the world. But since I have just moved to London, let’s dig into the British for the time being.

Top Misconceptions

Looking at a study by VoucherCodes.co.uk, they presented the below as some of the biggest misconceptions in the UK, which I have put together a chart for:

I think the chart says it all.

While the top two are hugely understandable, the others show that there is still a massive chunk of the British population that just do not understand crypto. That is perfectly fine. In fact, it’s a good thing – it shows how much further the industry could grow.

But the first step to adoption is education. I actually think this is what they got wrong in El Salvador. Announcing Bitcoin as legal tender spontaneously – from a Bitcoin conference in Miami – without prior warning or discussion with the people is not the way to go.

The UK, of course, won’t be announcing Bitcoin as legal tender anytime soon (although with the way the pound has been going recently, don’t rule anything out!).

But the barriers are still here. And for the 2%: no, Elon Musk didn’t make cryptocurrency up. Unless they think he is Satoshi Nakamoto? I guess it can’t be ruled out.

Sources

VoucherCodes.co.uk

The post 4% of Brits think crypto is a “woke” thing Gen Z loves appeared first on CoinJournal.

13. November 2022

Bitcoin maintains its price above $16k but could dip lower soon

Bitcoin has lost more than 20% of its value over the last seven days and could record further losses this week.

The cryptocurrency market has recorded perhaps its worst week so far this week. Bitcoin and the other leading cryptocurrencies have been underperforming over the past few days.

Bitcoin, the world’s leading cryptocurrency, has lost more than 20% of its value over the last seven days. It was trading above $20k per coin a week ago but is now trading around $16,500 per week.

The bearish performance comes following the collapse of the cryptocurrency exchange FTX. FTX was one of the top five crypto exchanges in the world, and its collapse has thrown the crypto market into a deep bearish trend.

The crypto exchange filed for Chapter 11 bankruptcy last week following its collapse. The total cryptocurrency market currently stands at around $831 billion, having lost more than $150 billion over the past few days.

With Bitcoin holding its ground above $16k, the leading cryptocurrency could record further losses over the coming days.

Key levels to watch

The BTC/USD 4-hour chart is extremely bearish, as Bitcoin has been underperforming over the past few days. Bitcoin’s technical indicators show that the bears are currently in control.

BTC/USD Chart By TradingView

The MACD line is deep within the negative territory, indicating that the bulls might not regain control for a while. The 14-day relative strength index of 35 shows that Bitcoin could enter the oversold region if the bearish trend continues.

At press time, BTC is trading at $16,620 per coin, down by more than 1% in the last 24 hours. With the bears still in control, BTC could dip below the $16,004 support level in the near term.

In the event of an extended bearish run, Bitcoin could trade around the $15,669 level for the second time in a week.

Where to buy Bitcoin now

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 BTC with eToro today

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 BTC with Skilling today

The post Bitcoin maintains its price above $16k but could dip lower soon appeared first on CoinJournal.

11. November 2022

Litecoin eyes a bullish breakout. Why buyers should keep their fingers crossed

Litecoin (LTC/USD) is once again looking at a possible breakout above a key resistance zone at $64. The price surged strongly to this key level after initially testing a low of $47 two days ago. Bulls are now under test at this key level as bears also stand their ground.

It’s an 11-year birthday for Litecoin. Its developers celebrated the blockchain, which was forked out of Bitcoin to address the shortcomings of the latter. More than a decade later, Litecoin has remained resilient, although price dynamics have hurt it more often than not. Litecoin Foundation says the blockchain has processed more than 33 million transactions without any challenge so far.

As the digitalisation of money takes shape, LTC will surely have a core role to play. The team behind the blockchain says that in the last 11 months, over 45 million new LTC addresses have been created. The number is equal to about 28% of lifetime LTC addresses. Equally, Litecoin’s mining difficulty hit a new milestone at slightly below 18 million hashes. The difficulty implies that miners are competing intensively for mining rewards.

Buyers would really pray that LTC clears $64 amid the positive developments. Two possibilities are likely, from the price action.

LTC corrects slightly below the $64 resistance

Source – TradingView

Price action indicators show a mixed outlook for LTC. On the one hand, an uptick in price and recovery from an RSI reading of 39 suggests a potential bullish market.

On the contrary, LTC has slowed down since hitting the resistance at $64. A breakout is far from being confirmed, so we should still hold a bearish bias.

When should you buy Litecoin?

A break above the $64 resistance would make the LTC price attractive to buyers. The resistance is a key zone that has held LTC since June. Thus, a breakout could welcome a huge move for the cryptocurrency.

LTC could proceed lower if the breakout fails, with the next potential bottom lying at $50. Investors should keep watch of both scenarios before buying.

Where to buy LTC

eToro

Buy LTC with eToro today

Skilling

Buy LTC with Skilling today

The post Litecoin eyes a bullish breakout. Why buyers should keep their fingers crossed appeared first on CoinJournal.

11. November 2022

Back to basics as Dogecoin retraces to 78.6% Fib level. Here is the potential price action

Dogecoin (DOGE/USD) trades at $0.085. Just a week ago, the cryptocurrency had tapped the $0.15 level. The losses underline the meme tag associated with Dogecoin. The cryptocurrency remains under the mercy of bears if the price fails to overcome a key level.

Dogecoin’s recent recovery has largely been pegged to Elon Musk’s acquisition of Twitter. Had you bought DOGE before October 27, when he finalised the acquisition, you would have tripled your investment. That is if you exited your position on August 31. Now, days after sealing the deal, the excitement has subsided, and DOGE may need a fresh price catalyst.

Musk has kept mum over whether DOGE would be accepted as payment for the social media giant. The billionaire had in the past supported DOGE and hinted at its use in Twitter payments. So the probability remains, but the lack of open announcements has been slowing DOGE. Consequently, the token has lost the mojo it had started late last month. Consequently, we could see the price remain subdued even longer if positive developments fail to come by.

DOGE struggles to clear $0.09 after attempting recovery at 78.6% Fib. level

Source – TradingView

Turning to the technical side, Dogecoin has found little bullish footing since sliding to $0.07. The level is slightly below the 78.6% Fibonacci retracement zone. However, recovery has been muted by key resistance at $0.09, and DOGE is taking another dip.

Should you buy DOGE?

Dogecoin is a very surprising cryptocurrency. The smallest of news can make the buyers go crazy. Taking advantage of such moves can generate huge returns, irrespective of what the technical indicators show.

Nonetheless, the current sentiment is not only bad for DOGE but all cryptocurrencies. DOGE also suffers from the lack of positive mentions, such as the speculated use in Twitter payment. With this in mind, a bear market could be inevitable.

A technical outlook shows that $0.09 is a key zone for DOGE to break to go higher. To a technical reader, the meme cryptocurrency is not an attractive buy.

Where to buy DOGE

eToro

Buy DOGE with eToro today

The post Back to basics as Dogecoin retraces to 78.6% Fib level. Here is the potential price action appeared first on CoinJournal.

11. November 2022

Bitcoin Cash invalidates a potential bullish reversal zone. Should buyers be optimistic?

If you have been eyeing Bitcoin Cash at $110, you may have to wait a little longer. A contagion of risks brewing in the market forced a sharp selloff, pushing Bitcoin Cash to below $110. The level was crucial support, with the token forming multiple bottoms. BCH tested a lower level at $87 but has since recovered to above $100. Should you be optimistic?

Cryptocurrencies are known for sudden moves in the market. Just as the slip below $110 happened unexpectedly for BCH, a recovery above the level can too. Buyers should be optimistic and be ready to buy once that happens. But that should be taken with a grain of salt.

Crypto winter is far from over, as underlined by this week’s selloff. The macro concerns have been the main highlight recently. So far, investors have developed a thick skin against the possible macro forces, including tighter economies. For that reason, most cryptocurrencies have been consolidating – an example of BCH at $110. However, markets seem to have forgotten a key factor – the liquidity state of crypto firms.

The collapse of FTX has brought a new perspective to crypto markets – the financial health of crypto firms and exchanges. As recession bells continue to ring, how many will survive to see a bull market coming? As it turns out, this fear will linger, and lasting recoveries are bound to stay muted. So, should you snap BCH or not?

BCH regains – heading back to above $110?

Source – TradingView

A sharp sell-off made BCH invalidate bullish reversal signs already forming at $110. The MACD indicator remains in the bearish zone, although the weak momentum has slightly improved. $110 is the level to watch.

Should you buy BCH?

If you are the “buy now, sell tomorrow,” type, you are better off staying away from BCH for now. With weak momentum, the token will hardly generate returns.

However, long-term buyers should consider BCH on their waitlist. BCH’s safety from a potential further slump will be confirmed if the token recovers above $110.

Where to buy BCH

eToro

Buy BCH with eToro today

Skilling

Buy BCH with Skilling today

The post Bitcoin Cash invalidates a potential bullish reversal zone. Should buyers be optimistic? appeared first on CoinJournal.