Schlagwort: crypto market

• Most individuals believe crypto is a good investment
• People are attracted to new technology
• Lack of trust in authorities turned people to crypto

The cryptocurrency market’s popularity rose exponentially in the last decade or so. The difference is stunning if one looks at the market capitalization of the entire industry today and compares it with, say, ten years ago.

So, knowing what drives people to invest in cryptocurrencies is interesting.

Guess no more.

A study by the Federal Reserve, called Federal Reserve’s 2022 Diary of Consumer Payment Choice, sheds light on this topic. So here are the main three reasons why investors hold crypto:

• Great potential investment
• People are interested in new technologies
• Some do not trust the US government or the US dollar

Most individuals own crypto as an investment

The overwhelming majority of individual investors own cryptocurrencies because they believe it is a good investment. More precisely, 67% of investors are crypto owners only from an investment perspective.

While this is impressive, it also tells much of the industry. It means that most investors are just speculating and hoping for higher prices than the ones they paid.

Coupled with the fact that only 0.3% of the respondents said they use it to buy goods and services in the United States, it tells much about the main reason people invest in cryptocurrencies.

Many own crypto because they are interested in new technologies

Another reason to own crypto is that investors want to have exposure to new technologies. 20.7% of investors are interested in new technologies, which is a good enough reason for them to buy and hold cryptocurrencies.

Lack of trust in the US government or the US dollar

1.6% of investors do not trust the US government or the US dollar. While not a big number, it reflects investors’ belief that the US government’s policies failed to support the local currency, and thus, investors turned to cryptocurrencies.

The rest of the respondents fell into other categories, which sum up to 8.6%.

The post Top 3 reasons why investors own cryptocurrencies appeared first on CoinJournal.

Monero price moved sideways in the past few days as the recent rally faded. The coin retreated to a low of $152.18, a few points below this week’s high of $157.16. It has risen by more than 12% from the lowest point in September. 

Monero, like other cryptocurrencies, are reacting to the ongoing war in Israel, which started on Saturday. The fear is that this war will push energy prices higher, forcing the Federal Reserve to continue hiking rates in the coming months. 

The price of Brent rose to $87.40 while West Texas Intermediate (WTI) soared to $85.60. Natural gas has also risen in the past few days. The next key catalyst for Monero and other cryptocurrencies will be the upcoming FOMC minutes scheduled for Wednesday.

These minutes will provide more information on the last meeting and provide more color on what to expect in the next meeting. The other important data to watch will be the upcoming US consumer price index (CPI) data. 

Economists expect the data to show that the country’s inflation jumped by 3.6% in September. Monero is also reacting to the falling US bond yields, with the 30-year yield falling to 4.8%.

Monero price forecast

The daily chart shows that the XMR crypto price has been in a tight range in the past few weeks. Along the way, the coin has formed a symmetrical triangle pattern, which is nearing its confluence level.

Monero has moved slightly above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has drifted upwards. It has also risen slightly above the key resistance at $149.6, the highest point on August 22nd and September 15th.

Therefore, the outlook for the coin is neutral for now.  The key support and resistance levels to watch will be at $140 and $163. 

How to buy Monero

The post Monero (XMR) price forms a symmetrical triangle pattern appeared first on CoinJournal.

• Bitcoin’s price has been in a tight range since summer
• A range can be traded successfully using the RSI
• Speculators should use small-size positions to avoid being caught on the wrong side of the market

Bitcoin investors, particularly hodlers, have had a hard time during the summer months. Literally, Bitcoin’s price did not go anywhere.

Sure enough, the rally in the early months of the year more than compensates investors holding the cryptocurrency in the long run. But similar (or more) gains may be achieved by speculating on short-term market movements.

This is true when and if the trader can identify periods when the market is in consolidation like it was during the summer months. In such times, the easiest way to trade a market is to use an oscillator and trade overbought and oversold levels.

The most popular oscillator is the RSI (Relative Strength Index), and its interpretation is straightforward. More precisely, every time the oscillator reaches values above 70, it is said that the market is overbought and should decline. On the contrary, when the RSI reaches values below 70, it is said that the market is oversold, and the price should increase.

Such a simple strategy works when the market is in a range. However, it can be devastating for the trading account when it trends.

Hence, the key is to identify a range. Once identified, it works as smoothly as possible – just have a look at how it performed on Bitcoin during the summer months.

Trading Bitcoin when the price is in a range

Since June, the RSI offered the perfect signal to trade Bitcoin. It worked flawlessly, as reflected on the chart below – and still works.

Bitcoin chart by TradingView

It will most likely still work if the range continues.

However, once the range ends, the market may stay in overbought and oversold territory more than a trader can stay solvent. Therefore, if anyone speculates on such ranges, they should do it with small-size positions and tight money management rules.

The post RSI perfectly predicted Bitcoin’s price since June – how long will it last? appeared first on CoinJournal.

• Memeinator aims to destroy and take weak meme tokens to oblivion.

• Memeinator will deliver a 132% return during the presale.

• A 10x to 50x increase in MMTR value is expected.

Memeinator (MMTR) went on presale on August 29th at an attractive price of $0.01. A week later, investors have bought over $650,000 worth of tokens. Investors particularly look at Memeinator’s immense potential and a 132% ROI during the presale. By the recent buying strengths, Memeinator could be the ultimate meme for 2023 and beyond. 

What is Memeinator and its value proposition? 

Memeinator is an upcoming cryptocurrency that rides the meme mania and frenzy to become viral. The team will invest heavily in branding and marketing to make Memeinator among the most popular projects. But Memeinator carries a huge value proposition.

The project is dubbed as a futuristic meme. Having travelled back from 2077, Memeinator focuses on destroying memes that won’t survive in future. It uses AI to scan the web for poorly designed and low-quality memes and destroys them. The aim is to let only the powerful, impactful, and valuable memes thrive. 

The Memeinator team believes the project’s crucial role in the meme space will enable it to dominate. As more people talk of it, it will increase online mania and cause the price to skyrocket. Combined with powerful AI-enabled marketing, the team believes the token could hit a $1 billion valuation.

Is Memeinator a good investment opportunity?

If history is to repeat itself, Memeinator could be the ideal investment for 2023. Think of big price moves that have happened elsewhere. Dogecoin, Shiba Memu, and PEPE are some tantalising projects that have returned big. Memeinator carries a similar potential, owing to its meme tag and an AI application. 

Investors also look at Memeinator as an ideal project for passive income. The project features a staking feature that lets MMTR buyers commit some tokens for regular rewards. There are also exclusive NFTs, initially available to presale buyers. 

A game feature to be launched once the presale ends also increases the utility of Memeinator. The game lets players engage in enemy pursuits, dismantling rival memes. As such, not only is Memeinator a utility token, but it also offers a fun way to invest.

Memeinator value increases in presale and prediction 

The Memeinator token will be valued at $0.0485 by the end of the presale. The value represents a 132% increase from the initial $0.01 at the beginning of the presale. 

The real value of Memeinator will be realised when the token lists on exchanges. According to the project’s roadmap, the listing will occur on tier 1 exchanges. Listing on leading exchanges makes the token available to many people, helping it increase in value.

A prudential prediction of a 1,000% increase will take the value of Memeinator to 0.485. The prediction is based on similar increases recorded on meme tokens. The value increase could be higher depending on the demand once the token is listed.

In the future, the increase of Memeinator could be as much as 50x. The token features a highly ambitious roadmap and quarterly burn that will help it retain value. Some project features include a fully audited smart contract platform and a resistant army backing it. Memeinator will also launch meme replicants to cement its dominating position. 

The project will also partner with top-tier platforms and influences to supplement its AI-enabled marketing. Once these are implemented, Memeinator price could become unstoppable. 

Memeinator ambitious tokenomics and presale

Memeinator’s presale occurs in 29 stages and is now in the third stage. 62.50% of 1,000,000,000 tokens will be offered during the presale. 15% will be allocated for the project’s marketing and CEX listings. 

The Memeinator team is allocated 10% of the tokens to fund ongoing development activities. 5% will go to liquidity provision and 7.5% to a competition pool. 

The tokenomics underline the strong ambition of the Memeinator team to see the project to fruition. That means the potential for the project to dominate is huge, increasing the viability of its token. 

The post Memeinator prediction as presale kicks off on a strong demand appeared first on CoinJournal.