BTC-D
⚡️ Crypto Insights ⚡️ #3 - Traditional MarketsTime for another key crypto tip!
Traditional markets! Watch them because they have a much greater affect on crypto movement than you may think 😲
From this example, we can see 3 crashes in traditional markets that correlate to that in crypto.
This does not mean that every dip will take crypto down but I have seen it time and time again act as a catalyst to take the market lower, especially when we have FOMO or FUD at play.
Hope this helps!! Stay tuned for more crypto trades and tips.
Don't wait too long for "CONFIRMATION"!Hi Guys
A popular concept in the world of trading, especially among technical traders and chartists is to wait for confirmation before entering a trade.
This means you have a Signal, for example, a price action pattern and now you wait for the markets to confirm that pattern before you enter. The idea, of course, is to filter out bad trades this way and to gain confidence before entering the trade.
But that confidence might come at a very high price in the long run. The problem with waiting for the market to confirm your trading idea is that this "Confirmation" often already is your profit! In other words, the Signal has worked and you would have been paid to take the risk and trade it.
And that's what you get paid for as a trader, you try to anticipate a price move you believe is going to happen before everyone else does. Please notice that this is true despite your trading style. You might hear statements like „I just follow the markets, I don't try to anticipate what's going to happen." (usually, these come from traders following some kind of trend following approach). But what they really mean is that instead of trying to get into a trade early anticipating the markets to reverse direction, they get in late anticipating that the markets will move even further in the direction it has already been moving. Of course nothing wrong with that, but in either case, traders anticipate a future price move they want to profit from and it's important to be aware of that fact.
Another example is trading a specific support/resistance level. Sure the risk to buy into a support level while the market is in free fall is risky. But that's precisely why these trades often offer you great profit potential. In case the trade works out, you'll get paid for the risk you took. But again…once you see that huge reversal price bar on your chart that bounced nicely off that support level - you probably already missed the opportunity.
You now know that you've been right. That really was a support level and market participants bought again at that price. Because of that price moved up and that's why you now see that huge reversal bar. But that move is over now…and those who took the risk and bought at the level are now taking their profits - hopefully, you're not the one buying from them now.
I could come up with many more examples like waiting for an indicator to confirm a trade etc, but the point to consider is that whenever you wait for confirmation you give up a significant amount of potential profits. And more often than not, these potential profits cost more than a couple of losing trades you might filter out waiting for confirmation. Your job here is to find a good compromise between getting in too early due to a Signal coming from market noise and getting in too late due to a Signal that misses most of the opportunity.
The Ambush trading method, for example, is an extreme case, it gets into trades again the ongoing short-term trend all the time. But that's precisely the idea behind it, trying to anticipate where that short-term trend is likely to end. Sounds risky? Well, looking at the long-term results it's actually a lot riskier to be on the other side of these trades ;)
DO YOU BELIEVE CONFIRMATION?
Trading Breakouts using Pivot PointsThe pivot points, like conventional Support and Resistance levels, do not last forever. At some point, the price will break out of these ranges. We always purchase at support and sell at resistance in our range strategy. However, there are instances when the market breaks out from these levels.
Trading the Breakout, you can have a starter position (small position) once the breakout occurs and then enter heavily once the price retests the new support. In trading terms, this is called the ‘role reversal’ concept. This concept simply means the turning of ‘resistance into support’ and ‘support into resistance’ For example, when the price breaks below the support level , it is not a ‘support’ anymore; but is now ‘resistance.’
Here for example we've entered LCID once it broke out of the resistance trend line . This means that LCID is starting a trend reversal and has a good chance of starting a strong momentum to the upside.
LCID extremely Bullish
I personally prefer trading breakouts instead of "guessing" when the trade will break out. This helps us in catching strong momentum plays at the right time.
🔆How to recognize the validity of the signal and make a profitHi Guys
We are all familiar with the signals posted by different people in Trading View, but the main question is which signals are reliable and which ones are invalid ?
In this post, I want to show you the ways to understand the validity of a signal so that you can make a good profit according to the tradingview signals:
1️⃣ REPUTATION:
When you enter a person's page, you will see the green part of the reputation at the top of the page, which is announcing to you that:
Suffice it to say that reputation is an indicator of trust, driven by how the community responds to users and their posts such as ideas and snapshots. The response is measured in social actions e.g. follows, likes, comments, views, etc.
⚠️Notice: Anyone who has had a great reputation in Trading View is not necessarily a trustworthy person, and we must check his signals in method number 2 to use his signals.
2️⃣Personally check the signal:
As you know, when someone posts his analyses in a trading view, he can't change it , and you can see the analysis went well or Not by clicking the play button next to each analysis.
⚠️Notice: But the important point in examining the quality of analyzes is that: If you check 2 or 3 posts in a row, one person may have the wrong analysis in those circumstances, or he may have the correct analysis only in those circumstances. And then your analysis of the person could be wrong.
The correct way to identify professional traders is as follows: at First, look at the trades analyses about bitcoin when the bitcoin price was drop if they predicted the btc drop they could be a professional trader. (because only a professional trader can predict the BTC price drop).
Check signals at critical market times, for example:(3-6 nov (2021),20-21 jul(2021),13-14 apr(2021),...)
3️⃣Reason for analysis:
when anybody share their analyses , Did he specify the reason for his analysis in the chart or did he publish it in the description below?
⚠️Notice: You can assess their credibility by analyzing the charts of traders and the descriptions below.
4️⃣Compare traders' analysis together:
After going through the above steps, we may find 4 or 5 reliable traders whose signals can be trusted. In this section, the best thing to do is to check the analysis of these traders together, especially in the case of Bitcoin, which is all traders are constantly publishing their own analysis of Bitcoin chart.
5️⃣You comment number 5.
BTC analysis, which could serve as a guideline in the futureDear Market Traders,
As you can see, many of us are confused regarding Bitcoin's future path. I believe that many people are hitting SL these days, and once they enter the market, the price goes in the opposite direction.
I'd like to share an idea with you that may help you cease trading before Bitcoin reaches 57200~56200, which may occur on November 8th between 0GMT and 6GMT. The time may vary due to minor changes in the direction of the channel.
I hope my analysis aids you in the long term in analyzing the market more effectively.
Best wishes
3 Ways To Invest In Crypto Market WITHOUT Education 💡You got a busy life and you don't have time to research and learn about thousands of cryptos,
Or you maybe don't see yourself and your life a trader,
Maybe aren't even interested in capital market.
You just heard Crypto Market is gaining a lot of profit and you just don't want to miss it..
You know what?? You hear from a Shit Coin.. You buy some.. And You will lose most of or maybe all your money ..
This IDEA will guide you through this situation, it will let you know how to invest successfully (probably), in crypto market.
I tried to minimize the risk for you..
SHALL WE BEGIN???
There are three possible ways, the First one will cost you money, the Second and the Third are free of charge.
FIRST: Go to an expert consultant.
The only thing you need to do, is to research and find suitable expert consultant for yourself. After that everything is done.
He/She, will gather some of your personal information to know you better to arrange a personal crypto portfolio.. This type of portfolio is uniquely designed for you and your personal goals..
And of course this way will cost you money due the type of expert you find.
SECOND: Bitcoin & Ethereum.
Clear your mind from whatever exciting coin and token you hearing all around the social media or you friends..
Bitcoin and Ethereum are the King and the Queen of the market, AND NOTHING ELSE MATTERS...
Try to calculate how much money can you HOLD or HODL for at least 5 YEARS . Buy Bitcoin/Ethereum with that money and store it in a safe place and just don't think about it anymore until that 5 year deadline comes up.
I believe you will be surprised when you see the outcome of your investment. And don't remember that at least 5 year is so important.
free of charge this one.
THIRD AND LAST: DCA, Dollar-Cost Averaging.
Did you remember older members of the family always told us, don't spend all your income. Put some of your income into the bank, monthly. It'll come handy some day.
Dollar Cost Averaging is something like that, and you know what?? It will work perfectly on Cryptos.
The only thing you need to do, is to calculate you monthly costs and income. After that promise something to yourself, I WILL SAVE SOME OF MY INCOME INTO CRYPTO EVERY MONTH. It can be %5, %10, %15,... whatever number you and your life feel comfortable with.
This DCA needs Three situations for you to concentrate on. First , You should keep your promise and buy crypto every month no matter what happens. Second , you should again wait at least 5 years . But don't worry the results will make you satisfied.
And Third , Just buy Bitcoin or Ethereum again and nothing else. Don't remember The KING and The QUEEN.
Why it is called AVERAGING??? because, no matter what is the price your filling your bag every month, so you will buy bitcoin in the deep, in the middle and in the top. This way you will buy your asset in an average price, without even knowing anything from the market.
This one was free of charge too, and I believe from bottom of my heart you will be excited from the result..
This is it.. I hope you enjoyed this IDEA.. If you did so, push the LIKE button and feel free to talk to me in comment section :)
As we said, Altcoins are recovering and then growingTo the past analysis i told you BTC .D are making head and shoulders and go down and this happen is good for Altcoins , Now Altcoins are recovering and then grow up and we see good pump in the Altcoins .
To the new chart of TOTAL2 you can see this ascending pattern too (Conversely head and shoulders means pump ) .
Really in the past of BTC .D analysis i told about head and shoulders pattern in TOTAL2 and going up ,So you can see !!
Have a good time :)
If you think technical analysis does not work, look at this!I published this analysis on October 18, 2021.
Today, you can see it hit the target zone!
If you have no time to learn different tools in technical analysis, at least do yourself a favor and learn how to use regression channels!
However, Regression channels are not pure technical analysis!
It is actually a statistical tool..!
Most quant funds use statistical models to open and close their position..!
The most famous model is mean reversion!
What Is Regression?
Regression is a statistical method used in finance, investing, and other disciplines that attempt to determine the strength and character of the relationship between one dependent variable (usually denoted by Y) and a series of other variables (known as independent variables).
Now, let's consider Y=Price and X=Time!
Now, you should do the math..! But do not forget we have different types of regression models: Quadratic, Qubic, Sinusoidal, and logistic...etc.
Look at these examples:
Bitcoin:
Solana:
NFLX:
USOIL:
price action patterns you need to know ( part 6 ) hi my friends ,
i'll share with you some patterns which can help you in trading ( part 6 )
Ascending Channel Pattern is a continuation pattern appear in the pullback and after the breakout of the Channel that will be a good signal to go long again ( bull )
Descending Channel Pattern is a continuation pattern appear in the pullback and after the breakout of the Channel that will be a good signal to go short again . ( bear )
note : note : both of them ar continuation patterns .
please support me with like and follow me for more ideas .
price action patterns you need to know ( part 5 ) hi my friends ,
i'll share with you some patterns which can help you in trading ( part 5 )
the bull flag is a continuation pattern appear in the pullback and after the breakout of the flag that will be a good signal to go long again
the bear flag is a continuation pattern appear in the pullback and after the breakout of the flag that will be a good signal to go short again .
note : note : both of them ar continuation patterns .
please support me with like and follow me for more ideas .
2. What are Exchanges? 🤔😛 <<<Crypto Education>>>In the world of cryptocurrencies there are two types of exchange. CEX and DEX. The graph shows the difference for each one.
What you should know about CEX:
Used to change fiat to crypto and crypto to fiat.
CEXs can block your money without warning for any reason.
The CEX may ask to verify your identity and origin of funds.
Some cannot serve clients depending on their location.
What you should know about DEX:
DEXs are smart contracts that exchanges run.
To use a DEX you need to already have cryptocurrencies in possession since they do not have fiat money input.
Most DEXs trade only with assets from the same chain where they are located. Ex Uniswap is used to exchange ERC-20 Ethereum tokens.
DEX can be used from your software or hardware wallet.
⚡️ Crypto Insights ⚡️ #2 - Altcoin CyclesIn this visual we can see an orange graph overlaid onto the BTC price chart for the last peak back in April. This orange graph represents the collective market cap for all crypto excluding BTC.
We can see that the price of altcoins lag behind the price of BTC and actually top around around 3 weeks after the peak. If you go back and look at the ATH at the end of 2017 you will see a very similar pattern.
Altcoins tend to lag a few weeks behind BTC and, therefore, peak after BTC highs also. If you are an investor, this is a key sign to watch out for and if you have made significant gains will give you a strategic exit.
You won't like this one BITCOINFor the die hard crypto fanatics; you won't like this idea one bit. This is coming from someone who was Bullish from 2011, so don't shoot it down without giving it a read either.
You might have seen the film: Wall street, money never sleeps?
Well, in this film Gekko shows a chart on the wall of his apartment;
This chart shows the Tulip Mania curve, it was insane - below, I have taken the story from Investopedia (word for word) and below each section I will edit it ever so slightly...
First - here's a little background.
What Was the Dutch Tulip Bulb Market Bubble?
The Dutch tulip bulb market bubble, also known as 'tulipmania' was one of the most famous market bubbles and crashes of all time. It occurred in Holland during the early to mid-1600s when speculation drove the value of tulip bulbs to extremes. At the height of the market, the rarest tulip bulbs traded for as much as six times the average person's annual salary.
Today, the tulipmania serves as a parable for the pitfalls that excessive greed and speculation can lead to.
Here's the chart up close;
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History of the Dutch Tulip Bulb Market’s Bubble
Tulips first appeared in Europe in the 16th century, arriving via the spice trading routes that lent a sense of exoticism to these imported flowers that looked like no other flower native to the continent. It is no surprise then that tulips became a luxury item destined for the gardens of the affluent: according to The Library of Economics and Liberty, "it was deemed a proof of bad taste in any man of fortune to be without a collection of tulips."
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The first ₿itcoin appeared on the internet circa 2009; becoming a luxury item to own, a symbol of hope and freedom. it seem to mirror the quote exactly "a proof of bad taste in any man of fortune to be without a ₿itcoin wallet".
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Following the affluent, the merchant middle classes of Dutch society (which did not exist in such developed form elsewhere in Europe at the time) sought to emulate their wealthier neighbors and, too, demanded tulips. Initially, it was a status item that was purchased for the very reason that it was expensive.
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The middle class want affluence and wealth and see Crypto as a way to make money the easy way - thus driving up price, of such a status item.
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Cycles
The market moves in cycles which can be broken down into waves, this can then be forecasted using tools such as Fibonacci to predict price in the future.
In Elliott wave principle; You have cycles that fit into time. While exact time spans may vary, the customary order of degrees is reflected in the following sequence:
Grand supercycle: multi-century
Supercycle: multi-decade (about 40–70 years)
Cycle: one year to several years, or even several decades under an Elliott Extension
Primary: a few months to two years
Intermediate: weeks to months
Minor: weeks
Minute: days
Minuette: hours
Subminuette: minutes
So we would have to count the current move as a Cycle on the current count and a primary cycle inside of that (Monthly & weekly in essence) as in theory we are still inside a 1 move of anything larger.
This is the current (perceived count);
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Back to the Tulips
According to Smithsonian Magazine, the Dutch learned that tulips could grow from seeds or buds that grew on the mother bulb. A bulb that grew from seed would take seven to 12 years before flowering, but a bulb itself could flower the very next year. So-called "broken bulbs" were a type of tulip with a striped, multicolored pattern rather than a single solid color that evolved from a mosaic virus strain. This variation was a catalyst causing a growing demand for rare, “broken bulb” tulips which is what ultimately led to the high market price.
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According to some technical guys, ₿itcoin can be mined and with enough equipment 1 full coin can flower over a year - due to the halving, which causes an increase in demand. It is driven to high market prices.
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In 1634, tulipmania swept through Holland. The Library of Economics and Liberty writes, "The rage among the Dutch to possess was so great that the ordinary industry of the country was neglected, and the population, even to its lowest dregs, embarked in the tulip trade.
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In 2021 ₿itcoin swept the world reaching as far as El Salvador. The rage amongst the Tweeter crowd was so great that, every man and his dog neglected common sense and even with stimulus money being used to embark on the ₿itcoin ladder.
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At this point; you probably hate this! I understand, majority of people only want opinions that mirror their own beliefs - trust me, I'm Bullish overall, I want a buy n hold strategy, but I cannot ignore factors out of my control. Regulation, Government stupidity and the world melting.
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Some simple logic.
Back in March I posted simple roadmap;
Inside the post (click the image above) you will see exact co-ordinates for the move and the current situation. See below;
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So where next and why?
If we are seeing a monthly 3 being formed (cycle phase) then we will go into another decline. Collecting new found liquidity at the high.
And this making larger cycle 1 when it hits the 5th of this current cycle.
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Some more on Tulips
A single bulb could be worth as much as 4,000 or even 5,500 florins—since the 1630s florins were gold coins of uncertain weight and quality it is hard to make an accurate estimation of today's value in dollars, but Mackay does give us some points of reference: among other things, 4 tuns of beer cost 32 florins. That's around 1,008 gallons of beer, or 65 kegs of beer. A keg of Coors Light costs around $90, and so 4 tuns of beer ≈ $4,850 and 1 florin ≈ $150.4 That means that the best of tulips cost upwards of $750,000 in today's money (but with many bulbs trading in the $50,000 - $150,000 range). By 1636, the demand for the tulip trade was so large that regular marts for their sale were established on the Stock Exchange of Amsterdam, in Rotterdam, Haarlem, and other towns.
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A single ₿itcoin could be worth as much as $67,000 which is hard to make an accurate estimation as it could be as little as $8,200 if you buy on Binance (and you have fast reflexes) Depending on where you drink beer, depends on how you can compare this. In Norway you can pay upward of $9, whereas In Antananarivo you can buy a beer for 6 cent.
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It was at that time that professional traders ("stock jobbers") got in on the action, and everybody appeared to be making money simply by possessing some of these rare bulbs. Indeed, it seemed at the time that the price could only go up; that "the passion for tulips would last forever." People began buying tulips with leverage, using margined derivatives contracts to buy more than they could afford. But as quickly as it began, confidence was dashed. By the end of the year 1637, prices began to fall and never looked back.
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At the time ETF's become available, it seems like the price can only go up. This Bull run will last forever, people start using leverage to buy ₿itcoin. Then - maybe a correction sets in.
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Never happen I hear you say; I often get asked about Plan B and the model - which of course makes some sense. But people are only reading the words and not seeing the chart;
Firstly, what happens when you see yellow dots? we go orange, yellow - boom.
Ok and then secondary to that; look at the line straight across until mid 2024 >
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Play this move out - another I posted in March this year, the logic was there for what I would regard as a weekly 3-4 move up for 5 giving a monthly 3. As per the Elliott post above in the roadmap.
Here's the outcome;
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Tulip conclusions;
A large part of this rapid decline was driven by the fact that people had purchased bulbs on credit, hoping to repay their loans when they sold their bulbs for a profit. But once prices started their decline, holders were forced to liquidate—to sell their bulbs at any price and to declare bankruptcy in the process. Smithsonian Magazine indeed notes that "hundreds who, a few months previously had begun to doubt that there was such a thing as poverty in the land suddenly found themselves the possessors of a few bulbs, which nobody would buy," even at prices one-fourth of what they paid. By 1638, tulip bulb prices had returned to from whence they came.
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A large part of what will be seen as a shock horror, will be people thinking they have diamond hands until the wife finds out they have over leveraged a position that might not come back for (2 years) - unable to pay back loans on money borrowed to buy crypto. No poverty in the world, is of course the dream.
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The Bubble Bursts
By the end of 1637, the bubble had burst. Buyers announced they could not pay the high price previously agreed upon for bulbs and the market fell apart. While it was not a devastating occurrence for the nation's economy, it did undermine social expectations. The event destroyed relationships built on trust and people's willingness and ability to pay.
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Prior to 2024; people announced they could not afford to hold such positions and the game mostly passed to the wealthy who could buy when the blood is running in the streets. This destroying the trust and belief, re-affirming the "rich get richer and the poor, get REKT"
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Bullish or Bearish - I hope you enjoyed it.
I've been lucky, planted my bulbs and waiting for the to flower. If the price comes back right I'll add to the position.
Just be careful, use proper risk management and don't just buy the hype. Do some research for your own entries.
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
⚡️ Crypto Insights ⚡️ #1What people tend to miss is the bigger picture.....
Let us look at the overall trend in the crypto space, which yesterday broke to ATHs. It is looking extremely strong with an uptrend on the weekly chart and a convergent MACD. For me this shows real strength, not just in BTC but in the whole crypto space.
It is a common misconception that ATH are a bad place to be getting into a market... yes it is a time to be cautious but it also shows incredible confidence and strength!
✅Think like a Whale, act like a Whale! ✅In Crypto Space most of the Whales keep their value in BTC (900B marketcap) instead of USDT. (65B marketcap). There are significant exchanges from btc to large-scale projects such as XRP when these reach favorable relative values. Trading volumes are ridiculously higher in 2021, so we anticipate a big rise in the price of XRP over the next few weeks.
PS: Some people think that studing prices versus BTC is not important but, special if you are a swing trader, it is crucial.
Top 10 Cryptocurrencies & Their Real World UsesIn this video we explain the real world use cases of each of the top 10 cryptocurrencies. A lot of focus in crypto is focused on the price and the volatility of each coin without many people necessary understanding what their purposes are.
Bitcoin (BTC)
Digital Gold, a store of wealth and protection against inflation… this is because there’s a limited supply of BTC (21 Million) that will ever be mined. It’s supply cannot be inflated like FIAT currencies (Dollar, Pound, Euro etc) can simply be printed.
Collateral in DeFi, in many DeFi (Decentralised Finance) Bitcoin is used as collateral for you to borrow against the value of in return for a cryptocurrency loan for example. We will explain DeFi in a little more detail later.
Banking the unbanked, in many struggling economies (El Salvador for example) Bitcoin is a useful way for communities to gain access to banking facilities. While in many of those regions economies are still largely cash-driven and people cannot afford to pay for transportation to visit banks for registration, the number of those who have access to or own mobile phones is increasing. Thus, using digital wallets to transfer Bitcoin independent of traditional banks may provide a viable alternative for people without a bank account to participate in finance and to create a store of value.
Ethereum (ETH)
Smart contracts, In essence, smart contracts are created to automatically execute and complete processes, such as a payment process, in digitised form. This is the key to Ethereum’s success and its core use case. It enables developers to create complex applications powered by Ethereum’s platform.
DeFi applications, The largest category of smart contracts on Ethereum’s platform is in the form of Decentralised Finance applications.
With DeFi, you can do most of the things that banks support — earn interest, borrow, lend, buy insurance, trade derivatives, trade assets, and more — but it’s faster and doesn’t require paperwork or a third party. As with crypto generally, DeFi is global, peer-to-peer (meaning directly between two people, not routed through a centralized system), and open to all.
NFTs, an emerging use case for Ethereum is in the form of payment for NFTs… you will find that most NFT’s prices are denominated in ETH. NFTs for anyone that isn’t aware are essentially digital art that its authenticity is confirmed in blockchain data.
Think of it as a version of the Twitter blue tick for limited edition digital art.
Cardano (ADA)
Store of Value & Smart Contracts - The Cardano coin can be used as a transfer of value in a similar way that cash is currently used. This is not very different from other cryptocurrencies such as Ethereum and Bitcoin, but ADA has other uses as well.
One of the core principles of Cardano is its PoS blockchain protocol where ADA is staked to the blockchain to successfully verify transactions on the blockchain. This is where Cardano crypto comes in handy. Those who stake their ADA to the blockchain are rewarded for their efforts with more Cardano crypto in return. This staking system helps maintain security throughout the blockchain.
There is also the use of ADA in voting. In Cardano, unlike other blockchain projects, it is not miners who vote and decide on changes to the protocol, it is token holders. Therefore, when a new change or development is proposed to the Cardano blockchain, Cardano crypto holders use their ADA to vote on these proposals. This way, everyone who owns the cryptocurrency has a say in its development.
ADA also can be used to power the smart contract platform on the Cardano blockchain. Developers utilise ADA to create smart contracts and applications that run on the secure, decentralised Cardano blockchain.
In the case of running smart contracts it is cheaper in transaction fees than Ethereum.
Tether (USDT)
Stablecoin - Backed by US dollars and value is pegged to always be at-or very close to £1 per 1 USDT
Transferring Crypto - Lots of people will use Tether as a middleman when transferring money from one cryptocurrency to another without paying the fees associated either between each crypto or back and forth into Fiat currencies.
Generating a Yield - Some tether users also simply hold their funds in Tether because it generates a higher yield or interest rate than their money would in a bank for example.
Binance Coin (BNB)
Binance Coin is the cryptocurrency issued by the Binance exchange and trades with the BNB symbol.
BNB was initially based on the Ethereum network but is now the native currency of Binance's own blockchain, the Binance chain.
Every quarter, Binance uses one-fifth of its profits to repurchase and permanently destroy, or "burn," Binance coins held in its treasury.
Binance was created as a utility token for discounted trading fees in 2017, but its uses have expanded to numerous applications, including payments for transaction fees (on the Binance Chain), travel bookings, entertainment, online services, and financial services.
Ripple (XRP)
Very quick & cheap cross border payments
,
The primary use case for XRP is intended to be for transfer of other currencies (or indeed commodities or assets such as gold or oil) over the Ripple network. Each time a money (or asset) transferring organisation such as a bank uses the network to conduct a transfer and settlement, the cost is deducted in a small amount of XRP.
Cross-border payments between banks and organisations currently run on a system called SWIFT… a system created in 1973. This is essentially what Ripple and its coin XRP could replace with a much quicker and cheaper system.
Solana (SOL)
Smart Contracts platform.
Much in the same way that both Ethereum & Cardano is used on a day to day basis as developers who make applications on the Solana blockchain pay SOL coins for the processing / transaction fees.
Large numbers of NFTs are also available on the Solana blockchain.
Polkadot (DOT)
Interoperability - Allow different blockchains to talk to each other and share data / features between each other. This is useful for developers when making new blockchains, as they are able to use sections of features from different chains without the need to create them from scratch each time.
Unlimited Supply - Unlike most other cryptocurrencies, DOT isn’t limited in supply. This is designed to incentivise the network and dynamically adjust according to participation rates of users.
Dogecoin (DOGE)
Meme coin which was originally created as a joke or parody of the crypto world.
Now however has gained massive popularity and even is considered for payments as a real world use. This is still to be widely accepted however.
USDC (USDC)
Stablecoin, backed by US dollars and value is pegged to always be at-or very close to £1 per 1 USDT. Not as popular or widely used by the market than Tether.
Crypto Explainer - What is Bitcoin (BTC) + Price AnalysisAlthough Bitcoin is very well known today, many still don't understand it fully. Here's a quick explainer of what Bitcoin is, why the big fuss about eco-friendliness is surfacing and affecting its prices, and what's happening with Bitcoin's price.
Bitcoin is a decentralized digital currency that can be sent from user to user, without any intermediary. The Bitcoin token runs on the Bitcoin Blockchain, which facilitates the transfer of those tokens thanks to a peer-to-peer network. In order to maintain this infrastructure, miners (aka distributed computers) make sure transactions tally and are processed correctly. In turn, they would get a small fee from the transaction they processed.
There are many debates about “inefficiency and eco-friendliness” in the crypto community today. And that’s the main weak point for Bitcoin. This year 2021, Elon Musk criticized Bitcoin, saying that it is unsustainable and bad for the environment, as miners who maintain the Bitcoin blockchain require a tremendous amount of electricity.
On the other hand, what if Bitcoin mining improves and we find more efficient ways to mine in the future? Any improvement in the fundamentals leads to better Bitcoin valuations.
This dilemma paved the way for other altcoins to emerge and solve this scalability problem. But Bitcoin remains the biggest cryptocurrency by market capitalization, as its valuation surpassed 1 Trillion recently.
Invest responsibly, and always do your own research.
CryptoTicker team
Trends in Technical Analysis 📈📈✨What are the trends in technical analysis and what is its application in digital currencies such as Bitcoin and other cryptocurrencies? In the second part of the tutorial, we will look at the trends.
The concept of trends is definitely one of the principles of technical analysis. All the tools that we will teach in the following are created from patterns, oscillators, support and resistance levels, indicators, and with the aim of helping to measure the price trend. Even if you have been in the market for a short time, you must have heard the words, "Trend is your friend", "Always trade in the direction of the trend", "Never fight the trend". These are common phrases that you often hear in the market. So we need to take the time to define the process and know its types.
Bitcoin price chart consists of uptrends, downtrends and neutrals
John Murphy describes the trend in her valuable book, Technical Analysis of Financial Markets:
The market never moves in a straight line. Market changes are characterized by a series of zigzag movements. We call these market zigzag movements. The result of the motion of these waves is TREND.
✨Classification of trends in technical analysis
▪️ Uptrend
The uptrend is defined as a series of ascending waves. Charles Dow defines an uptrend as follows: "When a price is higher on an uptrend than the previous uptrend, or when the price is on a downtrend above the previous uptrend, we have an uptrend." In other words, the uptrend is a pattern of upward fluctuations.
An uptrend indicates a greater power of demand or purchase over supply or sales, referred to as the "BULLISH market".
The uptrend in technical analysis is the result of several uptrends
▪️downward trend
The downtrend is formed as a series of downward waves. Charles Dow described the downtrend as exactly the opposite of what was said about the uptrend. This means that whenever the price is lower in a bearish wave than the previous bearish wave or the price is lower in a bullish wave than in the previous bullish wave, we have a bearish trend.
A downtrend indicates a greater supply or demand power over demand or a buy, a "bearish market".
The downtrend in technical analysis is the result of several downtrends
▪️ Range trend
The Range trend consists of a wave or waves of ascending and descending that have a direct direction. In other words, if the price can not go above the peak of the uptrend or the price can not go below the bottom of the downtrend, we have a Range trend.
A Range trend indicates a relative balance between buyer and seller power or market supply and demand. "Range market" refers to this trend.
The Range trend in technical analysis is the result of several neutral waves
✨So far, we have defined the concept of trends in financial markets. We may be trending in the market but we need another tool to confirm our diagnosis, trading volume is the tool we need. According to Dow, trading volume is a secondary but important factor in confirming warnings derived from price analysis.
In general, keep in mind that trading volume should be in line with the direction of the main trend.
In the uptrend; Each ascending wave is accompanied by an increase in volume and each descending wave is accompanied by a decrease in volume.
Trading volume should confirm an uptrend
In a downward trend; Each descending wave is accompanied by an increase in volume and each ascending wave is accompanied by a decrease in volume.
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