Schlagwort: crypto business

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BTC spikes as bulls break $28k: Analysts share predictions

  • Bitcoin rose to $28,150, its highest level in three weeks.
  • The upside comes as sentiment flipped positive on ETF news amid further whale accumulation.
  • Analyst say BTC could test new year-to-date highs but bulls have to hold a key support area.

The price of Bitcoin (BTC) broke above the $28k level for the first time in three weeks, with BTC trading to highs of $28,150 on Tuesday afternoon. The gains continued the cryptocurrency’s resurgence after it recently fell below $25k.

Today’s upside saw BTC/USD jump more than 5% in 24 hours, the action resulting in the market’s largest short squeeze so far in June. Bitcoin’s dominance index also rose to above 50%, the first time it hit the level in over two years.

Bitcoin gains as sentiment flips amid whale accumulation

As the price moved to the key resistance level, crypto analytics platform Santiment pointed to the increasing trading volume and token circulation.

“Bitcoin has made a huge run in the past 4 hours, rising from $26.7k to $28.0k (+4.9%) in this brief time. The 3-week $BTC price high is being powered by rising trading volume and token circulation, both factors that often imply continued growth,” the market intelligence platform tweeted.

Bitcoin price rose as dominance hit 50%. Source: Santiment

Earlier, the company had shared data showing whales have exploited the recent downside to add to their holdings. While the shrimps to fish cohorts have been busy adding to their total holdings over the past month, whales with 1,000 to 10,000 BTC have added 131,600 BTC worth over $3.5 billion since the start of April.

Bitcoin price outlook – analyst share predictions

Bitcoin’s latest gains also come after headline news around the filing of a spot Bitcoin ETF by BlackRock and reports of a similar move by Fidelity Investments. It appears bulls can now target the $30k level, although the intraday highs zone could prove to be a key hurdle.

While Bitcoin was trading around $27,950 at 4:00 pm ET on Tuesday, the gains bulls notched earlier had the world’s largest coin by market cap at levels experts have said need to break for further upside momentum.

“The burden of proof is increasing upon the bears in Bitcoin $BTC,” veteran trader Peter Brandt noted on Twitter. “The retesting of the underlying H&S has been well supported and a possible falling wedge is being completed on daily line chart.”

Here’s the chart the veteran trader shared.

Meanwhile, crypto analyst Ali has highlighted that Bitcoin’s upsurge has bulls at “stable support”.

“As long as #BTC holds above the $26,160 – $26,970 range, it has a good chance of reaching new yearly highs,” he predicted. The analyst notes that about 2.26 million addresses purchased more than 1.14 million BTC at the above range.

The post BTC spikes as bulls break $28k: Analysts share predictions appeared first on CoinJournal.

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Chancer sold over 25% of its presale tokens within a week

Key takeaways

  • Chancer has sold more than 25% of its presale tokens within a week of launching its first presale event.

  • The team seeks to raise $1 million in the first presale and will carry out 11 more presale events afterward. 

Chancer has raised more than 25% of its required funding in its presale stage just a week after it was launched. The development team has raised more than $250,000, an indication that the project could become popular amongst investors.

With more than 25% of the allocated tokens already sold, does this present an opportunity for investors to look at the project? 

What is Chancer?

The Chancer presale started a week ago, and numerous investors have already invested in the project. However, before you invest in the project, you might want to look at the project and what it brings to the broader crypto market. 

Chancer is a unique Web3 peer-to-peer (P2P) custom betting platform that allows users to live stream betting events. 

Similar to hundreds of other projects within the web3 ecosystem, Chancer is decentralised. This means that it operates a decentralised betting platform that allows users to bet on a wide range of events, beyond the sporting and popular ones. 

Chancer seeks to develop a P2P betting platform that allows users ti enjoy betting markets in real-time and based on user interests, social media connections, and expertise. 

According to their whitepaper, Chancer eliminates the constraints put in place by bookmakers. Users can set their own custom P2P betting markets using its decentralised platform. 

Perhaps one of the biggest selling points of Chancer is that it is a betting platform that is not exclusive to sporting or popular events. Users can bet on sporting events such as football and basketball matches.

However, they can also bet on any event they desire, whether mainstream or made-up. They can predict odd events such as the day man will walk on Mars or even personal bet amongst friends and colleagues to determine the first person to complete a task, 

Chancer raises over $250,000 in a week

Chancer’s token presale launched on June 13th, and the team has already made huge strides so far.

Over the last seven days, Chancer has raised $258,000, which is more than 25% of the required funds. The team seeks to raise $1 million during the presale stage and will use the funds to develop some of its products. 

CHANCER is the native token of the Chancer ecosystem and will power various activities on the platform. In the presale stage, CHANCER is going for $0.01 BUSD per token. 

The CHANCER token allows holders to create markets and invest in markets created by other users. Furthermore, the token would enable users to create, participate in, and profit from their very own predictive markets. 

Users can find and participate in markets based on their interests, expertise, and social opportunities.

The development team will also allow token holders to stake their CHANCER token, allowing them to earn more money by providing liquidity to the ecosystem. 

CHANCER token holders will also get to enjoy fees for creating and participating in markets. Furthermore, the tokens would be used to reward participants for successful betting outcomes, boosting the platform’s engagement. 

This is the first presale, and the team will organise 11 more after this. The Chancer team seeks to raise $15 million over the course of the 12 presale events. 

At the moment, investors can connect a wide range of wallets to the Chancer presale. Investors can buy CHANCER tokens by connecting their Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow wallets to the Chancer platform. 

Should you invest in Chancer?

The decision to invest in Chancer should come after in-depth reading of the project’s whitepaper and an understanding of how it works. However, Chancer could prove to be an interesting project due to its unique nature.

Chancer is focusing on decentralising the betting ecosystem and could get a sizeable market share if the adoption rate soars. 

The platform allows users to enjoy transparent and easier betting processes. Chancer is still in its early stage, and the token currently goes for $0.01 BUSD in the current presale. The team will increase the price to $0.011 in the next presale event. 

The post Chancer sold over 25% of its presale tokens within a week appeared first on CoinJournal.

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AI to disrupt all industries as AltSignals token sale raises over $1M

  • Officials at OpenAI believe that artificial intelligence will disrupt all industries. 

  • The Chief Operating Officer expects the tech to lead to major layoffs.

  • AltSignals has raised over $1M in its highly successful token sale.

Artificial intelligence is one of the most disruptive industries of our time. Some analysts are comparing it with the innovation of the smartphone while others believe it is equivalent to the introduction of the internet. In a statement, Brad Lightcap the COO of OpenAI, warned that the industry will likely lead to substantial job losses in the future. He said this as AltSignals raised over $1 million in a token sale.

AI will disrupt all industries

Analysts believe that the artificial intelligence industry will disrupt all sectors of the economy. Today, many brand new cars have incorporated AI that help people improve their driving skills and reduce accidents. Companies like Tesla and General Motors use AI and machine learning to power their self-driving vehicles.

Similarly, news organizations like BuzzFeed are using AI to write content while Grammarly is helping content writers identify mistakes. It is also possible to write quality content using AI platforms like Bard and Bing. 

In a statement, the Chief Operating Officer (COO) of OpenAI, the creator of ChatGPT said that he believes that many jobs will be eliminated as companies embrace AI. He said:

“Every large company has an army of people that read and review contracts for revenue recognition purposes, for example. You may not have that job. That may not be a job of the future.”

Studies believe that the AI industry will be worth trillions of dollars in the next few years. Data compiled by Statista shows that the industry was generally valued at $95.2 million in 2021 and that it will hit over $1.8 trillion by 2030. Today, several AI companies like C3 and Nvidia have become multi-billion dollar entities.

AltSignals to disrupt finance

Another area that will see disruption is in the financial services industry. In fact, the sector is already seeing disruption with many hedge funds now using the technology to conduct analysis and implement orders.

AltSignals is one of the upcoming projects that seeks to leverage the technology to boost its business. For starters, AltSignals is a company that provides technical analysis and signals to customers from around the world.

Its current business model involves conducting technical analysis and identifying trading opportunities. It uses indicators like moving averages, Relative Strength Index (RSI), and the MACD.

While its trading signals are accurate, the management believes that embracing AI will make them better. According to its white paper, the technology will combine machine learning with natural language processing. Other technologies are regression and predictive modeling.

ASI token sale continues

As part of this development, the creators are running a token sale where users can participate in the project. Anyone can buy the ASI token for just 0.015 USDT. In the next stage, the price will jump by 25%. A lot of people have already bought the token. As you can see here, the token sale has raised over $1.011 million, which is equivalent to 93.68% of all tokens. 

The ASI token will power the AltSignals ecosystem. While it will be centralized initially, the developers hope to decentralize it in the future. This means that holders will be able to vote for the ecosystem’s growth and share the profits.

The post AI to disrupt all industries as AltSignals token sale raises over $1M appeared first on CoinJournal.

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Dogecoin price prediction: rare pattern points to a 20% DOGE dip

– Dogecoin price has moved sideways in the past few days.

– The coin has formed a bearish flag pattern on the daily chart.

– There is a likelihood that it will soon have a bearish breakout.

Dogecoin price has moved sideways in the past few days as the recent sell-off eased. The DOGE coin was trading at $0.061, where it has been at in the past few days. This price is sharply lower than the year-to-date high of $0.1052.

Regulations and monetary policy

Dogecoin price has been flat recently as investors assess several important events. First, there are concerns about the regulatory status in the US and other Western countries. The SEC has already sued companies like Binance and Coinbase, as we wrote here. 

Other countries are cracking down on crypto exchanges. For example, Binance recently announced that it was exiting its Netherlands operations. The UK and France are also investigating the company. As such, there is a likelihood that the industry will see more outflows in the coming months.

Dogecoin seems to be safe during all this since the SEC has not declared it as a financial security. Instead, because of how it works, the coin could be classified as a commodity. Unlike Shiba Inu, Dogecoin is a proof-of-work coin that has no staking features.

Therefore, there is a likelihood that Dogecoin will benefit if exchanges decide to delist tokens that are seen as securities.

Dogecoin price is also reacting to the latest monetary policy news. The Federal Reserve decided to leave interest rates unchanged last week. With inflation falling, there is a likelihood that the bank will continue pausing for the rest of the year.

Meanwhile, the recent news that Blackrock has applied for a Bitcoin spot ETF is a positive thing for Dogecoin price. It is positive news because it is helping to ameliorate the recent regulatory challenges in the industry. 

Dogecoin price prediction

The daily chart shows that DOGE price has been in a strong bearish trend in the past few weeks. As it dropped, the coin remained comfortably below the important 25-day and 50-day exponential moving averages. 

Dogecoin is now sitting at an important support level, which was the lowest level on March 10th of this year. It has also formed a bearish flag pattern, which is usually a bearish sign. Therefore, there is a likelihood that the coin will continue falling as sellers target the next key support level at $0.05, which is about 20% below the current level.

How to buy Dogecoin

eToro

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LiquidityX

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Gold and Bitcoin – the perfect portfolio combination

  • A diversified portfolio with gold and Bitcoin makes sense as Bitcoin’s trading volume rises
  • Gold’s stability offsets Bitcoin’s volatility
  • This way, investors may participate in Bitcoin’s upside potential without compromising on risk parameters

Portfolio management deals with managing risk. All risk cannot be avoided, and a risk-averse investor would not want to take no risk.

Instead, a risk-averse investor would like higher risk-adjusted returns. Naturally, the higher the potential return, the higher the risk.

Investors build portfolios of different assets to find the best possible risk-adjusted returns. Ideally, the assets have a negative correlation, thus bringing diversification benefits to the investor.

But it also makes sense to build a portfolio with correlated assets. While the portfolio is riskier, some other asset properties may appeal to investors willing to take a bigger risk.

As Bitcoin’s average daily trading volume rises, such a diversified portfolio may contain gold and Bitcoin.

Why to add gold and Bitcoin to a portfolio?

Diversified portfolios spread the risk across uncorrelated assets. A portfolio manager’s challenge is finding that diversification level beyond which diversification brings no benefits anymore.

Traditionally, gold’s role in a portfolio is to bring stability. By adding Bitcoin to a portfolio, one may participate in the cryptocurrency’s upside potential and, at the same time, mitigate the risk associated with Bitcoin’s volatility by combining it with gold.

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