Digital

Jun 26 2021

Bitcoin Price Prediction: BTC/USD Creeps toward $31,000

Bitcoin Price Prediction – June 25

The Bitcoin price moves below $32,000 as the king coin is likely to climb steadily with a few downward moves.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $37,500, $39,500, $41,500

Support Levels: $26,500, $24,500, $22,500

In recent days, BTC/USD has been turbulent keeping its price above the 9-day and 21-day moving averages. During the European session today, the Bitcoin price rises sharply by moving above the resistance level of $32,500. Meanwhile, the first digital asset exceeded this level before correcting lower. At the moment, the price is declining and remains below the 21-day moving average at $31,426.

Bitcoin Price Prediction: What is the Next Direction?

A crucial uptrend could form above the 9-day and 21-day MAs, with support close to $30,000 on the daily chart. However, if the decline occurs below this barrier, the price could extend its downward correction to the $28,000 level and any other loss could possibly push the Bitcoin price to the support level of $26,000.

Looking at the daily chart, the Bitcoin price touches the daily low of $30,173 and a further drop may cause the market to reach the critical supports at $26,500, $24,500, and $22,500. In other words, if the market were to rebound, traders could see the next buying pressure towards the resistance levels of $37,600, $39,500, and $41,500. Nevertheless, BTC still ranging on the daily chart, with the Relative Strength Index (14) moving sideways.

BTC/USD Medium-Term Trend: Bearish (4H Chart)

Looking at the 4-hour chart, the resistance at the $32,000 was too heavy for the bulls to overcome. So the price is seriously struggling in a consolidation mode, which has made BTC remain indecisive over the past few hours now. The resistance levels to watch are 34,000 and above.

However, the Bitcoin price is still roaming around $31,755 and we can see that the bullish supply has been slowly turning heavy in the market, while the bears are trying to drag the price below $32,000 support. Meanwhile, the $30,200 and below may come into play if BTC breaks the mentioned support. The technical indicator Relative Strength Index (14) is moving to cross below the 40-level, suggesting more bearish signals.

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Bitcoin Price Prediction: BTC/USD Creeps toward $31,000

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Jun 26 2021

Central Bank Digital Currency and Financial Stability (CBDC) | New Forms of Digital Money

Firstly, let’s start by explaining Central Bank Digital Currency, i.e., CBDC, which necessarily denotes the fiat-like currency of a nation. These are mostly present by making utilization of electronic records or digital token to represent the virtual form.
It has been years since digital currencies have started dominating the complete framework, just like some cryptocurrencies such as Ether and Bitcoin, which have encountered steep rise as well as a downfall. Amidst all of these, they had been in talks. Digital currencies work on a DLT referred to as blockchain technology.
Understanding CBDC
The blockchain for digital currencies has owed to magnum opus popularity in years, all thanks to its characteristics of decentralization and non-regulated nature. Bankers started to see this as a plausible danger to the old-style banking mechanism that is not only different from it in terms of functioning but also is different in terms of its decentralized and regulation-free nature. The traditional banking system works under the discretion of a primary authority like the central bank.
Now the cryptocurrencies that are available by newer sources or most unreliable sources raise the senses of awareness about the chances of thefts, scams, and hacks. And this lack of clarity is the reason for which there is no suitable reserve maintenance to back up the valuations of cryptocurrencies.
Now, seeing the inclination of these cryptos, central banks around the world are planning to launch their cryptocurrencies. Their version of cryptocurrencies will be monitored by the corresponding centralized banks of each country, and they are termed Central bank digital currencies. The base of the digital money will also be controlled by the CBDC. And this will be funded by monetary assets like foreign currencies or gold.
CBDC with blockchain for virtual currencies has the potential to bring ease and security of cryptocurrencies into one place. In this type of currency, the top authority in banking of the countries has all the responsibility and is liable to every action.
Could this adoption of CBDC bring Financial Stability?
Thus, it is much clearer now that CBDCs have the capability to provide what other cryptocurrencies are offering but in a more different way. It is providing virtual money with safety, accessibility, security, and transparency.
With the presence of a blockchain wallet for digital currencies, the public now has the power to access the lawful tender, even when you don’t have money. With the help of CBDC, both cash and cryptocurrency will be recognized as a legal mode of payment.
With the growing number of years, the usage of notes is gradually decreasing, as now people are more used to payment options like cards, contactless payments, and cryptocurrencies. There have been several negative cases concerning cash, although they are not excluded by central bodies.
So, now CBDCs will speed up the process of making society a cashless one. And with the declination in swipes with card-based transactions, it is presumed that people are rapidly adapting to novel approaches for making finance-related transactions.
Blockchain for financial stability can be considered as a viable option these days for making payments because it is government-regulated. The central bank’s digital currency gets completely aided and governed by the central bank, which raises the assurance and credibility of cryptocurrency. Now, these types of assurances are growing the hopes of companies that are using the technology of blockchain to invest freely.
Traditionally for making cross-border-based payments, RTGS infrastructure is mandatory for banks to offer interbank commitments. The most advantageous side of CBDC is that it can be used in making cross-border-based payments. When it comes to cross-border and interbank-based settlements, the CBDC is highly credible.
The current traditional set-up of banking lags in its efficiency of offering cross-border-based payments. Limitations like time lags even can result in exposure to several risks. But on the other side of the coin, the CBDCs are filled with several advantages like providing zero counterparty credit risk, anonymity, and 24hours accessibility.
But legalized wholesale-based CBDCs might fail to provide efficiency over the existing traditional banking set-up, as it needs to evolve furthermore.
Can CBDC Help in Improving Payment Systems?
More enhanced productivity in payment transactions is one of the plus sides of CBDC because it has a more reliable security set-up that can be utilized in the making of retail and also large-value-based payment mechanisms.
Now talking about the retail payment option, where it will further improve their payment efficiency, CBDC will get longer hours for settlements with quicker settlement in terms of wholesale and interbank payment systems.
Conclusion
Thus, the central bank, digital currencies, and financial stability can be considered to hold a firm position in the near future because it is faster and safer. With the up-gradation in its systems, it holds the potential to overtake the current banking set-up.
 Central Bank Digital Currency and Financial Stability (CBDC) | New Forms of Digital Money
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Jun 25 2021

Bitcoin Price Prediction: BTC/USD Climbs Above $35,000 Again

Bitcoin Price Prediction – June 24

Looking at the daily chart, the Bitcoin price is showing positive signs and it is likely to accelerate further higher in the near term.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $40,000, $42,000, $44,000

Support Levels: $28,000, $26,000, $24,000

According to the daily chart, after touching the daily low of $32,300, BTC/USD breaches $35,000 as all-time high beckons. The king coin is seen touching the 9-day and 21-day moving averages at $35,295. More so, the Bitcoin price is within touching distance of forming a new all-time high above the $35,000, which is quite remarkable.

Bitcoin Price Prediction: Will BTC Price sees a Further Upside?

At the time of writing, the Bitcoin price is seen trading comfortably towards the upper boundary of the channel as the price establishes a new bullish signal. Like the look of things, one could say that the long-term outlook is favoring the bulls, giving the daily close produced a large bullish engulfing candle with eyes now set on the daily resistances at $40,000, $42,000, and $44,000 respectively.

However, any drop from the current level could lead to declines to the critical support and caused the coin to remain below the 9-day and 21-day moving averages. In case BTC/USD drops and touches the low of $30,000 support, then the coin can rely on the long-term support levels at $28,000, $26,000, and $24,000. Moreover, the technical indicator Relative Strength Index (14) is now moving above 40-level, suggesting more bullish signals.

BTC/USD Medium-term Trend: Bearish (4H Chart)

According to the 4-hour chart, the Bitcoin price is seen trading above the 9-day and 21-day moving averages at $34,795. However, today’s price move happens to be an impressive one as it climbs above the long-awaited resistance level of $35,000 with a sharp upsurge. However, the Bitcoin price is now maintaining its bull-run around the upper boundary of the channel as the technical indicator Relative Strength Index (14) moves above 50-level.

On the contrary, BTC/USD may take a downward move if the bulls failed to push the price above the channel and the first digital asset may drop below the 9-day and 21-day moving averages which could reach a critical support level of $32,000 and below. Nevertheless, if the bulls find a decent resistance level above $35,000, the coin may continue the bullish movement by crossing above the channel to reach the resistance level of $37,000 and above.

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Bitcoin Price Prediction: BTC/USD Climbs Above $35,000 Again

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Jun 25 2021

Solidity for Beginners: A Guide to Getting Started

Solidity is a pristine programming language formulated explicitly for developing smart contracts for the Ethereum blockchain. The newly developed language has gained a significant role under Ethereum’s contracts framework that is of great importance in blockchain technology; in fact, you will be required to learn the language in order to code Ethereum Dapps (Decentralized Applications). The developers created this language with an aim to showcase the real potential of the system of smart contracts in the realm of digital exchanges.

This article will provide you with a detailed understanding of smart contract systems, solidity language, functionality, and solidity basics. These fundamentals will lend you basic knowledge about the subject to help you in getting started.

Table of Content

What are smart contacts?
What is Solidity?
Solidity basics for beginners.
How is compiling and testing of smart contact done?
An overview: Solidity flow of execution
Closing Thoughts.

What Are Smart Contracts?

The term smart contracts have gained a ton of publicity since its formulation; it’s been at the center of attention just like other popular terms like AI (artificial intelligence), Machine Learning, Blockchain, etc. Smart contracts, also known as crypto-contracts, are automatic computer programs that empower currency tradings, digital asset exchanges, and other kinds of businesses. These exchanges are secured by a predefined set of rules summoned as a smart contract system. Thus, smart contracts not just guarantee that both the parties are adhering to the principles and regulations of the smart contract but also automatically implement the contract obligations.

What is Solidity?

Solidity is the principal programming language for assembling smart contracts utilized in the Ethereum blockchain. It is a contract-based language, which implies that smart contracts are liable for putting away the entirety of the programming reasoning on which the Ethereum blockchain runs. It is statically formulated to uphold essential elements like libraries, legacy and that’s just the beginning!

Solidity is an easy language purposely made for an oversimplified way to provide genuine solutions for the issues of real-world use cases. The language has been implemented on the Ethereum platform, a Virtual Machine carrying out the blockchain network to foster decentralized public records to make smart contract frameworks. This programming language has similar functions as JavaScript and C++. Moreover, the language upholds state factors such as value types, data types and programming capacities.

However, the language still deals with constant updates and modifications across the platform. Subsequently, an aspiring SOLIDITY DEVELOPER should be aware of the updates through forums of the Ethereum platform, chat rooms, and websites. Currently, Ethereum and Solidity are both going through visionary growth.

Solidity Basics for beginners

Solidity language supports the following general value types:

Booleans: It returns a true or false value.
Integers: The int/unit for both unsigned and signed integers are supported by Solidity.
Address: An address can carry up to a 20-byte value.
String Literals: String literals are depicted using either double or single quotes. They imply trailing value zeroes.
Modifier: Modifiers ensure the fulfillment of the predefined conditions before code execution.
Mappings: Mappings return values related to a given storage site.

These generic value types can be further integrated to develop complex data types.

How is the compiling and testing of smart contract done?

Once you have created a smart contract using Solidity on a local system, install an easy-to-use test environment that accepts simple Truffle commands. The compiler transforms the source code into the Ethereum Virtual Machine code, allowing you to test your code without needing to pay Ether coins.

An overview: Solidity flow of execution

The syntactical consonance of Solidity with another programming language, JavaScript, has extensively improved the system’s usability. As a beginner, you must have a clear idea of the execution process under a solidity programming language command:

The Ethereum format documentation draws out an instruction text size of 32-byte containing a stack and memory model. The EVM generates a program stack that monitors the registries under information storage and program counter. To keep a successive stream to control the program, the program counter loops/jumps.

Additionally, the virtual memory lends short memory for information distribution that is expandable to some degree compared to a permanent storage allowance provided by the nodes of the blockchain.

The aim of creating solidity language for Ethereum is to maintain the determinism and accuracy of smart contracts. The node executes programming tools and smart contracts within the connected blocks in the Ethereum for creating a new block.

This implies the code being executed is enrolled based on the sequence of the block.

While entering the new stage of the execution process, the program phase gets shifted to new storage exchanges. At first, these exchanges are performed at the miner’s location. After execution, the new block is dissipated to different working nodes within the blockchain.

To confirm the credibility of the framework of smart contracts, every node autonomously checks the block by correlating the state changes by using any local copy of the block. In cases where the state changes are deterministic, nodes of the blockchain accept the exchanges. Similarly, in a circumstance where the nodes could not reach an agreement, the execution of the block stops, and the network may end.

Closing Thoughts

Solidity is the language that has the power to develop the frameworks of contracts with robust functionality. Smart contracts have generated ample opportunities for further blockchain developments and multiple sectors of online business. Hopefully, you learned the fundamentals of solidity programming language to use while creating your smart contract.

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Solidity for Beginners: A Guide to Getting Started

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Jun 23 2021

Bitcoin Price Prediction: BTC/USD Retests $34,800 High

Bitcoin Price Prediction – June 23

The Bitcoin bulls are working hard to nurture a bullish trend from the support at $31,708.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $40,000, $42,000, $44,000

Support Levels: $27,000, $25,000, $23,000

BTC/USD is currently trading 2.66% higher on the day after the coin opened the session at $32,538 and touches the daily high of $31,708. The first digital asset is moving within the short-term bullish trend amid low volatility. The current conditions imply that the price may stay range-bound during the next trading hours as the coin remains below the 9-day and 21-day moving averages. Meanwhile, the technical indicator Relative Strength Index (14) may start moving sideways.

Bitcoin Price Prediction: What to Expect from Bitcoin

At the opening of the market today, after testing the low of $31,708, the Bitcoin price is currently hovering at $33,402. Meanwhile, looking at the market movement, there is likely that the market may experience a quick retracement or sell-off just after touching the crucial $34,000, and traders may see $35,000 to $38,000 being tested again before pushing higher.

On the downside, if the market decides to fall, the Bitcoin price could fall towards the lower boundary of the channel at $28,000, and if that support fails to hold the sell-off, traders could see a further decline towards the support levels of $27,000, $25,000, and critically $23,000. All the same, any further bullish movement towards the upper boundary of the channel may hit the resistance levels at $40,000, $42,000, and $44,000.

BTC/USD Medium – Term Trend: Bearish (4H Chart)

When compares with the 4-hour chart, the Bitcoin price first touches the daily high of $34,881 but now dropping slightly. If the price continues to drop further and moves below the 9-day and 21-day moving averages, it could reach the nearest support levels at $30,500 and below.

Moreover, if the bulls push the coin above the upper boundary of the channel, the Bitcoin price may likely reach the potential resistance levels of $36,000 and above. Presently, the market may be indecisive as the technical indicator Relative Strength Index (14) indicator moves above 40-level.

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Bitcoin Price Prediction: BTC/USD Retests $34,800 High

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