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Messages - Rain075

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Cryptocurrency Price Speculations / Re: IOTA price analysis (daily update)

« on: June 17, 2021, 02:42:13 PM »

16 June

IOTA was trading at $1.1 at press time and was down 80.80% from its ATH. The alt noted a slower recovery as it oscillated between the $0.935 support and $1.197 resistance. Its price was down by 3.81% in one day and 2.24% over the last 7 days.

Capital inflows for the asset were seen increasing too as the Chaikin Money Flow noted a slight uptick. The CMF indicator touched the zero-line, keeping the asset in neutral territory.

Finally, the MACD line was moving in close proximity with the Signal line, meaning a bearish crossover could be in store for the asset.

Cryptocurrency Price Speculations / Re: BNB price analysis (daily update)

« on: June 17, 2021, 02:38:50 PM »

BNB was trading at $362.64, at press time, and was down from its ATH by 46.81%. BNB has traded within its closed channel since the May 19 drop, occasionally testing its support at $319.4. The coin’s key resistance was at $422.6, at the time of writing.

Cryptocurrency Price Speculations / Re: Ethereum Classic price daily (Daily updates)

« on: June 17, 2021, 02:35:11 PM »

ETC’s movement has remained dormant for the last 24 hours. The coin continued to move sideways without any indication of sudden volatility, trading at $58 at press time. According to the MACD indicator, the blue indicator line and the red Signal line were both aligned right at the neutral line. This is for the better as the coin was previously trading close to the $50.72-support level.

Cryptocurrency Price Speculations / Re: Monero price analysis (daily update)

« on: June 17, 2021, 02:28:52 PM »

Monero has been pushing up towards its $315-resistance level. The coin has had a 17.6% hike in the last 2 days, bringing the coin to $283. According to the Squeeze Momentum Indicator, the coin appeared to be in an active squeeze release due to the presence of white dots at press time. Bullish pressure could be observed receding, however.

Both Simple Moving Averages lines – 50 SMA (orange) and 100 SMA (red) – were strongly bullish, resting under the candlesticks. On the Relative Strength Index (RSI), the purple line indicated a slight uptick, with the same climbing towards the overbought zone.

Cryptocurrency Price Speculations / Re: EOS price analysis (daily update)

« on: June 17, 2021, 02:26:04 PM »

16 June analysis

In spite of EOS ‘s three-year anniversary of its mainnet activation on June 14, the asset continued to move within its restricted price channel between the $4.5 support and $6.9 resistance. The slight signs of recovery from its sideways price movement which were highlighted in a previous analysis were followed by low price action at press time.

The asset traded at $5.1 at the time of writing as the Awesome Oscillator highlighted a moderately bearish momentum creeping with the appearance of red bars above the zero-line. Short-bodied candlesticks for EOS highlighted that market action was low.

Cryptocurrency Price Speculations / Bitcoin cash price analysis daily

« on: June 17, 2021, 02:24:01 PM »

Bitcoin Cash fell by almost 10% on June 7, and it took a week’s time after that for the alt to recover its losses. The token was available at $614.12 on June 16, with the coin recovering by 6% in 2 days. BCH was oscillating between the $570 support and $720 resistance level.

Bitcoin News & Updates / Morgan Stanley to Offer More Options for Bitcoin to Its Clients

« on: June 17, 2021, 05:46:10 AM »

Morgan Stanley might extend its bitcoin offerings to its clients, giving them more options to have Bitcoin in their portfolio.
A company by the name of New York Digital Investment Group (NYDIG) specialising in Bitcoin related financial services. Has filed paperwork with the SEC to create an investment fund with Morgan Stanley, serving Morgan Stanley’s clients. FS Investments is also a partner of the fund and would bring their clients over as well.The investment fund would allow Morgan Stanley to reap the benefits from Bitcoin without owning the assets. They charge their premiums based on the price differential of the asset, minimising the risk.source

Bitcoin News & Updates / Bank of America Survey: Most Fund Managers Say Bitcoin Is a Bubble, Inflation

« on: June 17, 2021, 05:44:02 AM »

Bank of America’s June Fund Manager Survey
Bank of America (BofA) released its June Global Fund Manager Survey this week. The survey, conducted between June 4-10, covers 224 fund managers with $667 billion under management.

The fund managers were asked about many issues of concern to investors, ranging from where the economy and markets are heading to how much cash portfolio managers are holding and which trades they see as most overdone.

“Long commodities” is now the most crowded trade, overtaking “long bitcoin” which is now the second most crowded trade. The third most crowded trade is “long tech stock,” followed by “long ESG,” “short U.S. Treasuries,” and “long euro.Despite the BTC price pullback, 81% of the fund managers surveyed still think that bitcoin is in a bubble. This is a slight increase from May when 75% of the fund managers surveyed said bitcoin was in a bubble zone. Bank of America itself has also warned about the cryptocurrency being in a bubble. The bank’s chief investment strategist said in January bitcoin was “the mother of all bubbles.”

Meanwhile, 72% of fund managers say that inflation is transitory, agreeing with what the Fed has been saying. However, 23% think inflation is permanent. Federal Reserve Chairman Jerome Powell has used the word “transitory” to describe the threat of inflation to the U.S. economy several times. Nonetheless, a number of people have indicated that they disagree with him, including famed hedge fund manager Paul Tudor Jones and JPMorgan CEO Jamie Dimon.source

Bitcoin News & Updates / Adopting Bitcoin (BTC) Can Collapse El Salvador’s Economy

« on: June 17, 2021, 05:41:52 AM »

Steve Hanke, an economist and professor at Johns Hopkins University, has raised serious concerns over El Salvador’s decision to make Bitcoin a legal tender. During his interview with Kitco News, he called this decision “stupid”.
Considering the state of El Salvador’s economy, Hanke believes it is not feasible to use Bitcoin in everyday transactions. Hanke added: “The big problem with cryptos, in general, is that you can’t convert them into actual real legal tender that’s usable cheaply, and quickly. You can’t Bitcoin, for example, cheaply and easily convert into U.S. dollars.”source

Articles about Cryptocurrency / World Bank Denies Any Help to El Salvador for Bitcoin (BTC) Implementation

« on: June 17, 2021, 05:39:59 AM »

After the IMF raised concerns about El Salvador adopting Bitcoin (BTC) as a legal tender last week, the World Bank has rejected any kind of help for Bitcoin implementation citing transparency and environmental concerns.On Wednesday, June 16, El Salvador’s Finance Minister Alejandro Zelaya said they are currently seeking technical assistance from World Bank to make Bitcoin a legal tender along with the existing USD.
Besides, the minister also called current negotiations of the International Monetary Fund (IMF) ‘successful’. However, the IMF has already raised legal and macroeconomic issues concerning Bitcoin adoption. In an email to Reuters, the World Bank spokesperson wrote:
“We are committed to helping El Salvador in numerous ways including for currency transparency and regulatory processes. While the government did approach us for assistance on bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings.”source

Cryptocurrency Price Speculations / Re: Ethereum price daily updated ( any website)

« on: June 12, 2021, 10:44:59 AM »

Ethereum price today is $2,313.03 USD with a 24-hour trading volume of $25,550,675,774 USD. Ethereum is down 5.90% in the last 24 hours. The current CoinMarketCap ranking is #2, with a live market cap of $268,907,815,825 USD. It has a circulating supply of 116,258,049 ETH.source

Cryptocurrency Price Speculations / Re: INJ (injective protocol) price daily Update?

« on: June 12, 2021, 10:41:53 AM »

Injective Protocol price today is $7.61 USD with a 24-hour trading volume of $25,416,992 USD. Injective Protocol is down 9.58% in the last 24 hours. The current CoinMarketCap ranking is #150, with a live market cap of $209,380,733 USD. It has a circulating supply of 27,515,863 INJ coins.source

Cryptocurrency Price Speculations / Re: DOT price analysis daily

« on: June 12, 2021, 10:39:45 AM »

Polkadot was projected to maintain its movement between $19.6 and $25 over the coming days. Tron was in danger of a breakdown towards $0.056 once volatility picked up. Finally, VeChain moved within a down channel and awaited a 28% hike in case of a break above $0.1188.

Polkadot [DOT]

Source: DOT/USD, TradingView

Polkadot’s previous targets were realized once its price broke south of its ascending channel. Losses accumulated up to 17% when calculated from the bottom trendline of a down-channel to the $19.6-support. Once Bitcoin reclaimed the $38,000-mark and buyers returned to the altcoin market, DOT saw an over 20% jump, but its price was capped at the $25-resistance. The last few sessions saw some downwards price action and the bulls were running out of momentum to alleviate incoming losses.

According to the MACD’s histogram, bullish momentum was on a decline as the index closed in on a bearish crossover. The RSI made its second lower high and could move into bearish territory. Nevertheless, DOT was sandwiched between the strong resistance at $25 and the strong support around $19.6 and the price will likely oscillate between this channel in the shorter-term

MetaMask / MetaMask Expands DeFi Functionality For Institutional Entities

« on: June 12, 2021, 10:35:29 AM »

MetaMask – the world’s most popular Web3 gateway and wallet announced on 10 June that it’s expanding it’s renowned multi-chain functionality to institutional entities, by offering a new variant – MetaMask Institutional. The ConsenSys owned platform which covers Ethereum and other EVM compatible blockchains, now aims to lure institutional players, hedge funds, corporate entities into the world of decentralized finance (DeFi).source

Uniswap / How To Overtake Uniswap? The 1-Trick That Most DeFi Projects Miss!

« on: June 12, 2021, 10:33:33 AM »

Uniswap is the world’s premier decentralized exchange and liquidity provision service, relying on an orderbook-less trading mechanism through liquidity pools. Since it’s introduction, it has facilitated billions in trading volume through it’s three iterations or version updates. It also constantly ranks as a leading revenue generating DeFi protocol, second only to the Ethereum base layer itself. Here’s how to overtake it and the description of the one trick that most DeFi projects miss.source