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Deadpool Soundtrack Composer Tom Holkenborg To Auction ‘Soundtrack Of Your Life’ NFT

Deadpool Soundtrack Composer Tom Holkenborg To Auction ‘Soundtrack Of Your Life’ NFT

Tom Holkenborg, a world-renowned film composer for Hollywood blockbusters and DJ, has announced the auctioning of a unique offering. Holkenborg is planning to compose a one-of-a-kind music score for the ‘Soundtrack Of Your Life’ NFT concept.’ The action is set for June 16, 2021, from noon EST. The auction will take place on Amplifyx, an […]

Price analysis 6/14: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, LTC, BCH

Bitcoin’s surge above $40,000 and the breakouts from select altcoins may be signals that the bottoming process has begun.

Bitcoin (BTC) has risen above the psychological resistance at $40,000 following a series of positive news flow over the past week. The first bit of bullish news that impacted the price of Bitcoin was a tweet from Tesla CEO Elon Musk who said the carmaker wil accept Bitcoin payments if more than 50% clean energy is used by Bitcoin miners with a “positive future trend.”

Another piece of news that may have boosted the recovery in Bitcoin was Paul Tudor Jones' suggestion that 5% of every investment portfolio have exposure to Bitcoin,  which is equal to that of gold, cash and commodities. Jones was al critical of the U.S. Fed’s view that the current rise in inflation numbers is transitory.

The recent bullish news is proof that the current drop has not altered the fundamentals of Bitcoin. Therefore, as the price stabilizes, Bitcoin may again attract institutional investment.

Daily cryptocurrency market performance. Source: Coin360

Meanwhile, MicroStrategy has completed its $500 million offering of secured notes, which the company plans to use for buying Bitcoin. After deducting various expenses, the business intelligence firm is left with $488 million that will be used to purchase Bitcoin. This will add to the company’s existing stack of 92,079 Bitcoin.

Related: Bitcoin sell pressure may hit zero in July thanks to Grayscale’s giant 16K BTC unlocking

With demand likely to return, could Bitcoin lead the recovery in the crypto markets? Let’s analyze the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin turned up on June 13 and soared above the resistance line of the developing descending triangle pattern. This move invalidated the bearish setup, which is a bullish sign. The buyers have continued their purchase today and pushed the price above $40,000.

BTC/USDT daily chart. Source: TradingView

The 20-day simple moving average ($36,779) has flattened out and the relative strength index (RSI) has risen into the positive territory, indicating that the selling pressure has reduced.

The BTC/USDT pair could now attempt a rally to the 50-day SMA ($44,571), which may act as a stiff resistance. If the price turns down from this resistance but finds support at the 20-day SMA, it will suggest the sentiment has turned bullish.

A breakout of the 50-day SMA will signal a possible change in trend and the pair could then rally to $51,483. This bullish view will be negated if the pair turns down and plummets below the $34,600.36 support. Such a move will suggest that traders are dumping their positions on minor rallies.

ETH/USDT

Ether (ETH) dropped below the support line of the symmetrical triangle on June 12 but the bears could not sustain the lower levels. This suggests that buyers are accumulating on dips.

ETH/USDT daily chart. Source: TradingView

The ETH/USDT pair rebounded off the trendline on June 13 and the bulls are now trying to push the price above the 20-day SMA ($2,581). If they succeed, the pair could rally to the resistance line of the triangle.

A breakout and close above the triangle and the 50-day SMA ($2,940) will indicate that the downtrend is over. The pair could then move up to the 78.6% Fibonacci retracement level at $3,806.91.

This positive view will invalidate if the pair turns down from the current level or the overhead resistance and breaks below $2,200. That could open the doors for a fall to $2,079 and then $1,728.74.

BNB/USDT

Binance Coin (BNB) bounced off the trendline on June 13 and the bulls have pushed the price above the 20-day SMA ($364). This suggests that the bulls are defending the trendline aggressively.

BNB/USDT daily chart. Source: TradingView

If the bulls sustain the price above the 20-day SMA, the BNB/USDT pair may move up to $433. This level may act as a resistance but if the bulls can push the price above it, the ascending triangle pattern will complete.

This bullish setup has a target objective at $609. The gradually rising 20-day SMA and the RSI above 46 suggest the buyers are trying to make a comeback.

However, if the price turns down from the current level and breaks below the trendline, it will suggest that supply exceeds demand. The pair could then drop to $291.06 and then to $211.70.

ADA/USDT

Cardano (ADA) slipped below the trendline on June 11 but the bears could not sustain the lower levels. This suggests that the bulls are buying on dips. The altcoin rose above the trendline on June 13 and the bulls are currently trying to push the price above the moving averages.

ADA/USDT daily chart. Source: TradingView

If they manage to do that, the ADA/USDT pair could rise to $1.94 where the bears are likely to pose a stiff challenge. However, a breakout and close above this resistance will suggest the correction is over.

Contrary to this assumption, if the price turns down from the moving averages, the pair could again drop to $1.33. A break below this support will indicate weakness and the pair could then plummet to $1.

DOGE/USDT

Dogecoin (DOGE) is attempting to rebound off the neckline of the head and shoulders pattern. This suggests the bulls are attempting to defend this support. If buyers push the price above the 20-day SMA ($0.34), the altcoin could start its journey to the 50-day SMA ($0.40).

DOGE/USDT daily chart. Source: TradingView

The bears are again likely to mount a stiff resistance at the 50-day SMA. If the price turns down from this resistance, the DOGE/USDT pair could drop to the neckline and remain range-bound for a few days.

The flattening moving averages and the RSI just below 46 points to a range-bound action in the near term. This neutral view will invalidate if buyers push the price above $0.45 or bears sink the pair below the neckline.

XRP/USDT

XRP has been trading below the 20-day SMA ($0.92) for the past few days but the bears have not been able to sink the price below the $0.75 support. This suggests that bulls are accumulating at lower levels.

XRP/USDT daily chart. Source: TradingView

The 20-day SMA is flattening out and the RSI is above 44, indicating the bulls are trying to make a comeback. A breakout and close above the 20-day SMA will be the first sign of strength. It will indicate that traders have resumed their purchases.

That could push the price to $1.10 where the bears will try to defend the level aggressively. However, if buyers thrust the price above this level, the XRP/USDT pair could rise to the 50-day SMA ($1.19). This positive view will invalidate if the price turns down and plummets below $0.75.

DOT/USDT

Polkadot’s (DOT) price action of the past few days has formed a symmetrical triangle pattern, indicating indecision among the bulls and the bears.

DOT/USDT daily chart. Source: TradingView

The flattish 20-day SMA ($22.98) and the RSI above 48 points to a possible range-bound action in the short term. However, if bulls push the price above the resistance line of the triangle, the DOT/USDT pair may start a relief rally to $31.28 and then to $41.40.

On the contrary, if the price turns down from the resistance line, the bears will make one more attempt to sink the pair below $19.50. If they succeed, the pair could start its journey toward the next critical support at $15.

UNI/USDT

Uniswap (UNI) is trading between the $21.50 support and the $30 resistance for the past few days. Although the bears pulled the price below $21.50 on June 12 and 13, they could not sustain the lower levels. This suggests that the bulls purchased the dip below $21.50.

UNI/USDT daily chart. Source: TradingView

The relief rally is likely to face stiff resistance at the downtrend line. This shows that the bears have not thrown in the towel yet. If the price turns down from the current level, the sellers will make another attempt to sink the UNI/USDT pair below the $21.50 to $20.23 support.

If they succeed, the pair could drop to $16.49 and then $13.04. Contrary to this assumption, if the bulls push the price above the downtrend line, the pair may move up to the 20-day SMA ($25.45).

If the price turns down from the 20-day SMA, it will suggest the sentiment remains negative. However, if the bulls push the price above the 20-day SMA, the pair could rise to $30.

LTC/USDT

Litecoin (LTC) has failed to break above or below the symmetrical triangle as the bulls are buying on dips to the support line and bears are selling at the resistance line. If the price reaches the apex of the triangle without breaking out, the pattern will be invalidated.

LTC/USDT daily chart. Source: TradingView

The bulls are currently attempting to push the price above the resistance line. If they succeed in sustaining the price above the triangle, it will suggest that buyers are back in the game. That could open the doors for a move to $225 and then to the 50-day SMA ($237).

Alternatively, if the price turns down from the current level, the bears will make one more attempt to sink the LTC/USDT pair below the support line. If that happens, the pair could drop to $140 and then to $118.03.

BCH/USDT

Bitcoin Cash (BCH) has been trading inside a descending triangle pattern for the past few days, which will complete on a breakdown and close below $538.11.

BCH/USDT daily chart. Source: TradingView

If that happens, the BCH/USDT pair could witness aggressive selling and may drop to $400 and then to $370. The gradually downsloping 20-day SMA ($656) and the RSI in the negative territory suggest the path of least resistance is to the downside.

This negative view will invalidate if the bulls propel the price above the downtrend line. Such a move could catch several aggressive bears off guard and may result in a short squeeze, pushing the price to the 50-day SMA ($894).

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Paul Tudor Jones talks meme stocks, asset allocation, and inflation

Wall Street's three main indexes remain under pressure after news about reducing stimulus by tapering bond purchases

Hedge fund manager Paul Tudor was a guest on CNBC’s “Squawk on the Street” segment Monday morning with plenty to talk about, including meme stocks, how Bitcoin fits in with his stock portfolio, and his take on the latest inflation data.

Meme stocks aren’t for everyone

Concerning the meme-stock craze, Tudor Jones believes that retail investors should follow the investment thesis they desire, regardless of what it may be. Personally, he said he would not pursue the type of investment strategy that dominates forums like Reddit. He added:

For me, I want to have a sound investment thesis other than just necessarily running shorts in or necessarily doing things simply because of the fact it is extraordinary and hasn’t been done before.

As a whole, he said the stock market is trading at a premium valuation compared to the broader economy. This creates a potential scenario where the top has been reached and if history repeats itself, we could see a signficant correction coming.

Bitcoin is a ‘great diversifier’

Although traditionally known as a stock picker, Tudor Jones said there is room for 5% of his portfolio to include Bitcoin. He said that Bitcoin can serve as a “great diversifier” for his portfolio and cryptocurrencies as a whole offers “a story of wealth.”

He said that he likes putting his money in something honest, reliable, consistent, and 100% certain and reliable, and this can apply to Bitcoin. He further claimed that he likes investing in Bitcoin because it means he’s investing in certainty. He explained:

Bitcoin is math, and math has been around for thousands of years, and two plus two is going to equal four, and it will for the next two thousand years. So I like the idea of investing in something that’s reliable, consistent, honest, and 100% certain.

While Bitcoin accounts for 5% of his portfiolio, another 5% is invested in gold, 5% in cash, and 5% in commodities. He’s not so sure about the other 80% leftover as of right now. He says that he’ll wait and see what action the Federal Reserve will take in the upcoming policy meeting as its actions will “have a big impact.”

Monetary and fiscal policy is ‘crazy’

Tudor Jones also said the current mix of fiscal and monetary policy is “crazy” to the point where it might even be the craziest since the creation of the Federal Reserve. He states that, given how the economy looks right now, the combination of easy monetary policies and high government spending goes against economic orthodoxy.

He further claims that high prices in both gold and cryptocurrency result from people losing faith in the Federal Reserve. He says that it’s “disingenuous” for the Federal Reserve to look at inflation as “transitory.” This stance has led to people questioning the central bank’s market capabilities. 

The post Paul Tudor Jones talks meme stocks, asset allocation, and inflation appeared first on Invezz.

from Cryptocurrency – Invezz

Binance Coin, Tron, EOS Price Analysis : 14 June

Bitcoin had a strong rally in the last 36 hours, climbing up by 13.75% and every other altcoin followed suit. Recently, block.one announced the settlement of its class-action lawsuit. Binance Coin ros

The post Binance Coin, Tron, EOS Price Analysis : 14 June appeared first on AMBCrypto.

Bitcoin Price Weekly Update: 14th June – 20th June 2021

A warm welcome to a new week of hope and a good prospect to all bitcoin investors. The expected glory climb of bitcoin … Read more

The post Bitcoin Price Weekly Update: 14th June – 20th June 2021 appeared first on NIGERIA BITCOIN COMMUNITY.

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Bitcoin sell pressure may hit zero in July thanks to Grayscale’s giant 16K BTC unlocking

The biggest single unlocking day will flush sellers from the market in July, opening up both volatility and bullish potential.

Institutional Bitcoin (BTC) investors are in the spotlight as an upcoming major cashout date sparks talk of fresh price volatility.

As noted by popular Twitter commentator Loomdart and others this week, attention is focusing on buyers and sellers of the Grayscale Bitcoin Trust (GBTC) as Bitcoin hovers near $40,000.

July means BTC price volatility

A giant in the institutional Bitcoin space, GBTC has over $24 billion in assets under management.

It is not available constantly — as Cointelegraph reported, the trust operates with periodic closures, which this year have coincided with its buy-in price trading at a discount to spot price.

This negative “GBTC premium” has formed a major talking point in its own right, as invested funds are locked up for a set period and then released, allowing investors to cash out at certain times depending on when they bought in.

GBTC premium vs. BTC/USD. Source: CryptoQuant/Twitter

A combination of negative premium relative to spot and a large unlocking of funds means that July will be particularly interesting for BTC price action. Previously, such an alignment has meant increased volatility.

July 19 will see the biggest single unlocking day, with 16,000 BTC ($627 million) released.

Grayscale Bitcoin Trust Unlock dates. Source: Bybt.com

Bucking a declining trend

For popular pseudonymous trader Loomdart, this nonetheless provides a chance for selling pressure to stabilize afterward, paving the way for BTC bulls to crush longstanding resistance lines.

This would form a refreshing counterpoint to the broadly bearish picture on institutional markets, with open interest in Bitcoin futures way down versus prior to the May price dip to $30,000.

On-chain analytics resource CryptoQuant noted the decline in interest last week, something which, in turn, came in tandem with a dramatic decline in overall BTC transaction numbers.