Schlagwort: crypto analysis

• Cryptocurrencies keep growing in popularity
• Bitcoin’s price dynamics changed with institutional investors’ adoption
• Bitcoin is now correlated with assets in the traditional financial market

Since digital currencies exist, the industry evolved exponentially in a little more than a decade. Currently, more than 22,000 cryptocurrencies are part of one of the most dynamic markets in the world. 

The huge number of currencies brings a few challenges to traders and investors. First, crypto exchanges find it difficult to list all cryptocurrencies; thus, investors may miss some opportunities. 

Second, many projects in the crypto space failed. Statistics say that nine in ten blockchain projects will fail. 

For example, in 2023 alone, 83 coins disappeared for various reasons, such as failing ICO, no purpose, scams, or they had no volume. 

Therefore, to avoid being caught in projects doomed to fail or to be scammed, many investors prefer cryptocurrencies with a large market capitalization and well-established in the investing community. In other words, if a cryptocurrency becomes part of institutional investors’ portfolios, the chances are that it will still exist in the medium and long term. 

Bitcoin is such a digital currency. 

Bitcoin’s dynamics changed with the growing adoption of digital currencies

As the investing community embraced digital currencies, Bitcoin became part of more and more institutional investors’ portfolios. 

But the adoption came with some costs. 

Bitcoin chart by TradingView

Take the chart above. It shows Bitcoin’s price evolution since its inception. 

When it first traded above $1,000, Bitcoin caught everyone’s attention. Then, when it reached $20,000 for the first time, everyone talked about a bubble. 

So strong was the resistance level that it took Bitcoin a few years to overcome it. Respecting the interchangeability principle, resistance has become support recently. 

But such ample moves are unlikely to be seen in the future. Because Bitcoin’s correlation to traditional financial markets increased, it is unlikely for the price to triple or double without similar moves elsewhere. 

Summing up, Bitcoin may be a good investment for the long term, but the rising adoption of cryptocurrencies will make it more and more difficult for the price to move the way it did before. 

The post Should you own Bitcoin, given the growing adoption of digital currencies? appeared first on CoinJournal.

Key takeaways

• AltSignals’ stage two presale has already raked in over $1.2 million.

• The presale continues to move forward despite the recent market events. 

The cryptocurrency market has had a positive week so far, with the prices of most coins and tokens up by more than 1% over the last few days. 

Bitcoin, the world’s number one cryptocurrency by market cap, has been up by more than 2% in the last 24 hours. At press time, the price of Bitcoin stands at $29,798 per coin.

With the market currently in a positive trend, AltSignals’ presale is also moving excellently. The team has broken another funding record, with more than 50% of the funding required in the stage two presale already generated.  

What is AltSignals?

To invest in the project, you need to understand what the project represents and the problem they intend to fix within the Web3 ecosystem. 

AltSignals is a Web3 project that targets traders, within the crypto space and beyond. The team wants to tackle some of the challenges traders face when trading cryptocurrencies and other financial assets. 

In their whitepaper, the AltSignals team explained that they would develop a platform that generates trading signals for stocks, forex, indices, cryptocurrencies, and CFDs. 

Technical analysis remains the biggest stumbling block for many aspiring traders. Knowing when to enter and exit trades is challenging for many.

AltSignals’ focus is to help traders in this aspect by leveraging blockchain technology and AI. The funds raised from presales will be channelled towards developing the AltSignals trading platform. 

The platform will be powered by ASI, its native token. At the moment, ASI is currently going for 0.01875 per token and could increase ahead of the next presale event. 

The AltSignals team also explained that they would use the funds generated from the funding rounds to develop ActualizeAI, the trading solution designed to make it easier for more people to enter the cryptocurrency trading scene. 

ActualizeAI is an automated solution that handles technical analysis on behalf of traders. 

Visit the official AltSignals website to learn more about their presale.

AltSignals’s stage two presale rakes in over $1.2M

The cryptocurrency market has had a positive week so far, with the Fear and Greed Index indicating that investors are becoming bullish about Bitcoin’s price.

With the market experiencing an improved performance this week, AltSignals’ presale event continues without a hitch. 

The AltSignals team has raised more than $1.2 million in the stage two presale so far. Over 55% of the tokens allocated for the stage two presale have been sold. The project is still in its early days and could gain massive adoption among traders. 

The broader crypto market has performed well since the start of the year, and that could serve as an incentive for more investors to enter the market.

Some investors might be looking to invest in new projects, and AltSignals could be one of the projects that investors might consider. 

Should you purchase ASI tokens in the presale?

One of the best times to invest in a project is during the presale or private sales. The tokens are usually sold at a discount during that period, and early investors could go on to rake in thousands of percentages in ROI once the projects launch and gain the needed level of adoption. 

It could be best to invest in AltSignals now that the project is in its presale stage. With Bitcoin’s price up by nearly 50% year-to-date, the broader crypto market could embark on a Bull Run soon.

If the Bull Run commences, ASI could become one of the biggest winners. AltSignals is an interesting project that could attract thousands of traders to the cryptocurrency market. 

The development of ActualizeAI is crucial to the success of the project. If the development team deliver on their products, AltSignals could become a leading project in its niche. 

The post AltSignals’ stage two presale tops $1.2M: Should you invest now? appeared first on CoinJournal.

• The fear and greed index in the crypto industry has remained in a neutral phase.

• Chancer, a new blockchain for the betting market, has raised over $1.2 million.

Cryptocurrencies have been in a tight range since the first week of July as their demand has fizzled. Most coins, including popular names like Bitcoin, Ethereum, and Ripple have consolidated as the fear and greed index has been stuck at the neutral point of 50. 

Despite this consolidation, crypto investors are still taking advantage of emerging trends like buying pre-sale tokens. Chancer, a new blockchain aiming to disrupt the sports betting industry, has emerged as one of the top tokens. It has raised over $1.2 million in the past 30 days.

What is Chancer?

The sports betting industry is a major one. For example, DraftKings has a market cap of more than $14 billion while Flutter Entertainment and Entain are valued at 26 billion and 8.93 billion pounds, respectively. Other multi-bilion dollar betting companies are Penn Entertainment, Churchill Downs, and Boyd Gaming among others.

These companies have grown rapidly, thanks to the internet and friendly regulations in most countries. For example, a Supreme Court ruling striked down a federal law that prohibated sports betting. As a result, it is now legal to bet in many states in the United States.

Chancer is aiming to disrupt the industry by using the blockchain technology. Its platform will be loaded with additional features that will make betting easier and more social. For example, any $CHANCER holder will be able to create a market and make money as people place their bets in it.  Chancer’s white paper adds:

“These tokens not only grant you the ability to create markets but also provide an opportunity to invest in markets created by other individuals. By holding $CHANCER tokens, you have a direct stake in our platform’s triumph.”

You can buy the Chancer token here.

Chancer will be highly decentralized

Most importantly, Chancer will be highly decentralized. While it will be centralized in the beginning, the developers will later on create a decentralized autonomous organization (DAO) that will govern the network. This DAO will set rules, add integrations, and make key decisions.

Further, Chancer users will be able to share the profits made by the network. This is contrary to what centralized betting companies like DraftKings and Flutter Entertainment, where the managers make all the decisions.

Therefore, there is a likelihood that the Chancer token will do well when the token is listed in exchanges like Binance, Huobi, and OKX. It has already demonstrated that there is demand for the token during the pre-sale period.

Most importantly, this token sale is happening when there is limited demand for cryptocurrencies as evidenced by the fear and greed index, which has remained at the neutral phase of 50. 

The post Chancer token sale thriving as crypto fear and greed index sleeps appeared first on CoinJournal.

• AltSignals has built a successful trading signal service since 2017 

• The platform will tilt towards an AI-led service that is expected to increase investors’ earnings

• $ASI has huge potential for up to 10x returns on continued use of its platform

While investors maintain a lukewarm sentiment on crypto, newly launched projects are gaining success. AltSignals ($ASI), a successful trading signal service in the UK, has attracted investors at the presale. The presale raises funds for a new artificial intelligence trading platform. AltSignals expects the AI platform to improve the quality of trading signals and supercharge earnings. Investors can join the AI trading signal platform by purchasing $ASI, the native token.

Leveraging AI in trading – The power of AltSignals

AltSignals is a platform created in 2017 by a team of experienced UK traders. Since then, the platform has grown popular, with its quality trading signals averaging 64% accuracy rates. Over 52,000 traders use the signal service. 

In the past, AltSignals has been using the AltAlgo™ indicator to generate trading signals. Following exponential growth, AltSignals is tapping into the power of AI to generate trading signals. AI is expected to improve the quality of signals and help the team cover more financial instruments. 

In line with the new growth focus, AltSignals will create a new platform dubbed ActualizeAI. Members will own $ASI, the token to power transactions and transfer value on the platform. 

What are the benefits of owning $ASI?

Investing in $ASI means becoming a member of ActualizeAI, with full benefits of AltSignals trading signals. With a successful trading service, investors will benefit from quality signals increasing their incomes.

$ASI also holds a huge potential to increase value and return to early investors. The value of the cryptocurrency will be determined by the continued use of ActualizeAI. 

Investing in AltSignals also means accessing and belonging to a trading community. Investors learn from the AltSignals team and other traders on the platform. Regular trading contests and tournaments are ideal for traders to showcase their skills. They also learn from peers to improve their trading competencies. Investors get rewarded with $ASI for winning the contests. 

AltSignals also gives members a chance to get involved in the project. Investors can join the AI Members Club and be rewarded for giving ideas and feedback on the project. Members will also use their tokens to vote on governance issues. Other benefits of $ASI include exclusive access to presale opportunities and AI-powered products.

 Will $ASI become bullish in 2023?

$ASI will be listed on Uniswap in Q3 2023. This could be when the token will have a genuine chance of skyrocketing in value. The prediction is based on historical price trends, where tokens rise strongly after listing. 

2023 is also a year that AI is gaining prominence. As a result, $ASI could ride on the optimism to increase in value. 

However, $ASI presents an opportunity beyond 2023. Most developmental activity for the ActualizeAI platform will happen in 2024. It means sustainable gains in $ASI could be realised beyond 2023 from the use of the AI platform.

Given how fast the presale is happening, $ASI could rise by up to three-digit percentages in 2023. In 2024, $ASI could be 10x investment or higher in the future. 

Should you invest in $ASI while on presale?

One of the benefits of purchasing $ASI in presale is gaining early access to the AI trading platform. For traders, this is an opportunity of a lifetime to benefit from quality trading signals. These signals cover forex markets, crypto, stocks, and CFDs. 

Investing in $ASI on presale is also advantageous since the token’s value is still low. The value will be higher when the $ASI lists and investors will spend more to buy it. 

With the current price at $0.01875, $ASI is a bargain for value-seeking investors. Investors will also ride a bullish momentum when it occurs after listing.

The post Exploring the bullish case for AltSignals in 2023 as presale accelerates appeared first on CoinJournal.

• Litecoin price has slumped in the past few weeks as it ignored key events.

• It went through its third halving that reduced its block rewards last week.

Litecoin price has underperformed the market as the hype surrounding the halving event waned. LTC price dropped to a low of $80, the lowest level since June 21st. It has dropped by more than 28% from the highest point this year. 

Litecoin’s price action is a reflection of the overall performance of the crypto industry. Bitcoin, its biggest peer, has remained at the $29,000 level in the past few weeks. Similarly, the total market cap of all cryptocurrencies has remained at $1.12 trillion.

Litecoin price has ignored several important events in the ecosystem. Last week, it went through halving, a process that reduces the block rewards to miners in its ecosystem. Historically, Litecoin and other cryptocurrencies tend to show some volatility before and after a halving event.

Further, it reacted mildly to last week’s credit rating downgrade of America’s debt by Fitch, one of the big three credit rating agencies. In an ideal situation, the credit rating downgrade should have been a good for Bitcoin and other cryptocurrencies because they are designed to be anti-US dollar.

Meanwhile, on-chain metrics shows that the number of Litecoin transactions has been a bit muted in the past few months. On a positive side, the hash rate has remained at an all-time high of 800 TH/s. 

Hash rate is an important metric that looks at the computational power of a network. In most cases, a strong hash rate means that the network is healthier.

Litecoin price prediction

The future price action of Litecoin price will depend on the performance of Bitcoin since the two have a close correlation. On the daily chart, the LTC price has dropped below the important resistance level at $105.75, the highest point in February. 

Most importantly, Litecoin has formed what looks like a head and shoulders pattern, which is usually a bearish sign. It has also dropped below the 50-day and 200-day moving averages. The two averages are about to make a bearish crossover, which is known as a death cross.

The coin has also formed a bearish flag pattern. Therefore, the outlook for Litecoin price is bearish, with the next level to watch being at $71.20.

How to buy Litecoin

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