Crypto News Archive - Seite 1394 von 1898 - Finanzmittel Info + Krypto + Geld + Gold

25. Oktober 2022

Bitcoin will hit $13k before reaching a new all-time high in three years, says Peter Brandt

Bitcoin is trading above $19k, but Peter Brandt believes it will reach $13k in the near term before setting a new all-time high three years from now.

Peter Brandt, founder and CEO of proprietary trading firm Factor LLC, told CoinDesk TV in a recent interview that he believes Bitcoin will set a new all-time high in three years.

However, before it does that, Bitcoin will trade for around $13,000 first. Bitcoin has been underperforming since the start of the year.

Since reaching the $69k all-time high in November 2021, Bitcoin has lost more than 70% of its value. It has been trading below $20k in recent weeks but has maintained its price around the $18k-$19k level. Brandt said;

“We [will] just chop between … let’s say $17,000 and $23,000,” said Brandt. “I think we will bottom here at some point in time, maybe early next year, but then I’m not looking for bitcoin really to become exciting again for another couple of years.”

Peter Brandt is a technical trader that has been around since 1970. According to his predictions, it would take Bitcoin 32 months before it reaches a new all-time high again.

There have been talks that the US Federal Reserve will halt its interest rate hiking. However, Brandt doesn’t see that happening and expects a 75-basis point increase on Nov. 2. This would be followed by another 75 bps increase on Dec. 14. He said;

“I think that the Fed knows that inflation is a killer. The Fed needs to regain its credibility. And to do that, I think the Fed really needs to bring inflation rates back down to at least 4%.”

The cryptocurrency market has been mirroring other traditional financial markets, including stocks and commodities, in recent months. However, Brandt said he believes Bitcoin’s performance will be unique in the long run. He added that;

“Bitcoin is going to be correlated with bitcoin eventually.”

The $13k bottom suggested by Brandt differs from his opinion two months ago. In August, he suggested that Bitcoin could have reached its possible bottom, with BTC trading at around $21k at the time.

The post Bitcoin will hit $13k before reaching a new all-time high in three years, says Peter Brandt appeared first on CoinJournal.

24. Oktober 2022

Dogecoin holds onto support. What is the likelihood of a bullish reversal?

Dogecoin DOGE/USD is trading for $0.05979, a 1.28% gain in the past day and 0.75 % in the last week. The uptick could be due to Dogechain, a smart contract platform inspired by the canine-themed token.

Dogechain DC/USD is up 25% in the past day and 200% in the last week. DC, though distinct from Dogecoin, could also be behind DOGE trading volumes. The volumes increased 37% to $216,705,178 in the period. Elsewhere, although the excitement around Dogecoin seems to have died, Elon Musk’s Twitter deal could revive the blockchain.

The takeover bid, which has been marred with legal tussles, is expected to rejuvenate DOGE. Earlier in the undertaking, Musk had hinted at the possibility of using DOGE in Twitter transactions.

Lastly, the Dogecoin mining hash rate is up again. It peaked at a seven-month high last week. The metric, which is the computing power for minting crypto, was reported at 815 TH/s, according to Coinwarz. The trajectory is poised to pump the price of the digital asset. Besides the positive sentiment, DOGE is at the lower end of consolidation.

Doge holds onto support amid consolidation

Source: Tradingview

From the daily chart above, DOGE/USD has bounced off the support but remains in a consolidation. The pattern of a high of $0.065 and a low of $0.0.0578 has remained so since September 6. The speed and price change momentum indicator, RSI, is close to the neutral level at 46. Similarly, the MACD shows a weak signal, almost close to neutral.

Concluding thoughts

Despite the meme token holding on to the support, there is a minimal chance of a bullish reversal. The key indicators support the argument – all show a low momentum. The sentiment can, however, change at any price above the resistance. Even so, the momentum indicators should turn bullish to welcome any buy entry.

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The post Dogecoin holds onto support. What is the likelihood of a bullish reversal? appeared first on CoinJournal.

24. Oktober 2022

Is Quant now a buy after the latest correction?

Quant (QNT/USD) was at the centre of increased bull interest in the past one month. That saw the cryptocurrency top $220 earlier this month and return massively to investors. As CoinJournal reported, a range of fundamentals was behind the surge.

Quant currently trades at $177, in a market correction after the recent pump. Losses in the past one week amount to 18.59%. With the latest strengths, a potential investor would see the weekly dip as a potential to take the token higher. We feel it could not be the right moment to buy the token.

Quant finds support at $170 amid a market correction.

The technical levels are established at $152, $129, and $88 for Quant. However, the token has found minor support at $170. Although the cryptocurrency tried to push higher from the support, the price was rejected near or at the $197 resistance. The rejection suggests buyers find it hard to break above $200. Bears may take control for a while before more buyers get in.

Source - TradingView Source – TradingView

Looking at the daily chart, the sentiment is bullish for Quant, going by the monthly price movement. The price maintains above the moving averages, especially the short-term 20-day MA. On the other hand, the MACD indicator shows weakening momentum. The MACD line crossed below the signal line, an early indication of a developing bear market.

Which way Quant?

A technical outlook paints a mixed scenario for Quant token. The moving averages and monthly price movement reinforce a bullish view. On the contrary, the MACD indicator shows a declining momentum and a possible bear market.

Going by the current price action, we must wait before buying Quant. A break above $197 will confirm bullish momentum. A break below the $170 level or 20-day MA could force a decline to $152 or, potentially, to $129.

Where to buy QNT

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The post Is Quant now a buy after the latest correction? appeared first on CoinJournal.

24. Oktober 2022

Japan’s Fukuoka City partners with Astar Japan Lab for Web3 expansion

Japan’s second-largest port city a designated National Special Strategic Zone Fukuoka city has announced its partnership with Astar Japan Lab to work on local Web3 use cases. The city wants to become a Web3 hub of Japan.

The collaboration was announced by Astar Network founder Sota Watanabe and Fukuoka Mayor Soichior Takashima at the “Myojo Waraku 2022” conference held in Fukuoka.

Astar Japan Lab

Astar Japan Lab was initiated by Japan’s number one blockchain Astar Network and it aims to develop innovative use cases on Astar.

More than 45 companies have so far partnered with Astar Labs to bring its vision to pass. These countries include Microsoft Japan, Amazon Japan, Dentsu, Hakuhodo, MUFG, SoftBank, Accenture Japan, and PwC Japan.

Following the announcement of the partnership, the founder of Astar Network Sota Watanabe said:

“We are excited to invite Fukuoka City to Astar Japan Lab. In the US, some cities like Maimi and New York have positive attitudes toward Web3 and crypto. We are going to work closely with Fukuoka City to attract more developers and more entrepreneurs on Astar Network. In addition, Fukuoka is also known as the national special strategic zone. We plan to work closely with the government and utilize Web3 use cases from Fukuoka to the entire Japan.”

Fukuoka City’s strategy to become the Web3 hub of Japan

The partnership with Astar Japan Lab puts Fukuoka City right on course to achieve its strategy of becoming Japan’s Web3 hub as well as attract globally competitive businesses.

Astar’s representatives are expected to regularly visit Fukuoka to educate the general public and identify new avenues for local businesses to expand in Astar Japan Lab. The local government of Fukuoka has also committed to supporting innovation and entrepreneurship within the emerging silicon valley of Japan.

Fukuoka City Mayor Soichior Takashima said:

“We have to do in the context of Web3 what large companies did for the world when Japan was strong. We believe it is important to move forward together with the government, Fukuoka City, and companies that represent Japan.”

The post Japan’s Fukuoka City partners with Astar Japan Lab for Web3 expansion appeared first on CoinJournal.

24. Oktober 2022

ADA is undervalued according to insights data. Should you buy it?

Cardano (ADA/USD) is significantly undervalued. That’s according to data by crypto analytics Santiment. ADA trades at a low of $0.36 after a bearish market the past one week.

Using Cardano’s MVRV Z-Score, Santiment data highlights ADA’s low valuation. Accordingly, the token trades at its lowest level to its realised value. Since the beginning of 2019. A low Z-score signifies an undervalued asset. Is the undervaluation a sign of a market rebound for ADA?

Santiment suggests that ADA doubled in value in just 3 months, the last time its MVRV Z-Score reached low levels. That comes when the analytics firm also reports increasing capitulation across the crypto market. Capitulation is characterised by traders closing their positions at a loss. The situation occurs before the market rebounds.

The latest data occurs even as Cardano remains under pressure. However, the token has recovered some losses, adding an intraday 4.80% on Monday. The gains come barely 24 hours after FTX CEO Sam Bankman-Fried assured members of a spot ADA on the exchange. ADA is the only token in the top 25 on the exchange lacking a spot listing.

AADA is approaching the 23.6% retracement after the latest recoveries

Source – TradingView

From the technical outlook, ADA is initiating a recovery above the $0.32 zone. From the Fibonacci retracement, the cryptocurrency’s swing high lies at $0.5109 and a swing low of $0.3296. The possible retracement levels are $0.37 (23.6%), $0.3988 (38.2%), $0.42 (50%), $0.44 (61.8%).

The key retracement could be at the Fib levels shown above.

Should you buy ADA?

While recovery at $0.32 is a good sign for ADA, we have yet to confirm bullish momentum. The cryptocurrency remains below a crucial support-turned-resistance at $0.42. The level coincides with the 50% or 61.8% retracement.

Again, the cryptocurrency market outlook remains less convincing. Thus, we might stay in a bear market longer. Most cryptocurrencies are mixed.

Nonetheless, ADA remains attractive for investors seeking a cryptocurrency with underlying fundamental value. Potentially, the return of a bull market would welcome a lasting rally for depressed ADA.

Where to buy ADA

eToro

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The post ADA is undervalued according to insights data. Should you buy it? appeared first on CoinJournal.