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Crypto and blockchain: What the Brazilian market can expect for 2021

January 22, 2021 by Blockchain Consultants

2020 will be remembered as one of the most difficult years for contemporary societies: Countries and entire populations have faced lockdowns and economic crises, financial markets still suffer from the severe impacts of the economic recession, and more than 2 million lives have been taken by COVID-19.

Despite this, other sectors have been impacted in other ways during the severe global health crisis — which still seems far from over, even though vaccines are beginning to be distributed in wealthy countries. Economies have radically digitalized, hedge assets have attracted mistrust, and the crypto market has had one of its most important years since 2009, the year of Bitcoin’s (BTC) launch.

In fact, the crypto and blockchain markets have stood out in the face of a crisis that has spared almost no sector. Cryptocurrency funds are among the most profitable of the year, Bitcoin and the biggest altcoins reach new historic highs, large institutions and investors in the financial markets have allocated investments in Bitcoin, and blockchain technology has broken down barriers in the financial sector and in the production chains of the most varied of sectors.

Faced with a year of profound changes, what is to be expected for the future? Cointelegraph Brasil invited some of the country’s top crypto and blockchain experts to chart the next steps for the market.

Institutional investment

Institutional investment was highlighted in 2020, finally reaching the cryptosphere, and it promises another year of growth in 2021.

According to Rodrigo Borges, founding member of the Oxford Blockchain Foundation, large Bitcoin contributions by institutional investors — which have even bought more BTC than the production capacity of miners — will intensify in 2021: “Regarding Bitcoin, I imagine that there will be an increase in demand for institutional investors, enabling the emergence of new products with exposure to Bitcoin,” analyzed Borges. He also sees “2021 as a year of consolidation and strong development in the sector.”

As for Tatiana Revoredo, MIT blockchain expert and Cointelegraph Brasil columnist, the custody of cryptocurrencies by traditional financial institutions and the adoption of stablecoins will be key in the new year:

“In the financial sector, we will see applications for custody of crypto assets being launched in Brazil, with the possible participation of the traditional market. And if the regulatory authorities allow it, stablecoins will have an expressive role in the Brazilian market, with the turnover being able to quadruple in size.”

Crypto markets

Crypto markets experienced a year of extreme optimism — or greed, as demonstrated by the Crypto Fear & Greed Index. Bitcoin reached a dramatic bottom close at $3,800 in March, and it beat its 2017 historic high of $20,000 on Dec. 16. In Brazil, the currency set a new historical record in November when it reached $106,000 Brazillian reals.

Cointelegraph Markets reporter Marcel Pechman highlighted the behavior of the market despite the setbacks suffered during the year. He recalled: “The Bitcoin and Ethereum markets developed in 2020 as never before imagined, both in terms of trading volume, price and the contribution of renowned investors like Paul Tudor Jones and Stanley Druckenmiller.”

Pechman said that despite the crypto market suffering some setbacks, the impact of those setbacks on market performance was not so significant: “We had, for example, the US Department of Justice suing BitMEX — at the time, the largest derivatives exchange — and KuCoin’s $280 million hack, and none of those affected the market.”

Pechman also recalled that the 2020 DeFi race led to expensive transaction costs on the Ethereum network but did not impact market sentiment.

OriginalMy CEO Edilson Osório agreed with the promising future of the DeFi sector, but he cautioned against fraud:

“This is an experimental and very promising market, but it must be given extra attention because of malicious groups applying scams and fraud in general. As it is a very new market, platforms may have problems with hacks, and due to the great centralization that exists (even with many platforms presenting themselves as decentralized), there is still a risk of exit scams.”

About 2020’s innovations, and the digitalization imposed by the COVID-19 crisis, Pechman also said that it will go even deeper in 2021:

“Successive innovations, which include Taproot, Schnorr and Lightning Network in Bitcoin, in addition to the launch of Ethereum 2.0 phase 0, pave the way for the next wave, with increasingly larger, scalable applications, and interconnected with traditional finance. The final proof? Fidelity offers loans covered in cryptocurrencies.”

On the domestic markets, Osório is betting on the tokenization market in Brazil, which is already used by the country’s largest crypto exchange, Mercado Bitcoin. According to him, 2021 will be a year for “maturing the security tokens market.”

“Existing protocols are beginning to be well regarded by regulators, since most of them provide for greater participation and visibility on the part of the regulator itself and allow the mitigation of various risks inherent in this market. In this race, there is a great chance that Brazil will gain prominence because the local regulator has established a regulatory sandbox and the first projects are already beginning to mobilize to have their applications running in a more legally secure environment,” – noted Osório.

Another player at the Brazilian crypto markets, João Paulo Mayall — head of operations at QR Asset Management — is also optimistic about the tokenization market in 2021. He highlighted the role of regulators in the sector’s expansion in the South American country: “I believe that the future is the tokenization of assets, debentures, court bonds, government debts. Brazil is very advanced in its banking system and we will have many surprises in this sector, so I am very optimistic. Tokenization is a billion-dollar market, but it lacks the infrastructure. Innovation came in front of the regulators, but I think they are open to listening and working on it. I think [the regulation] will happen next year, even before March 2021.”

Finally, blockchain expert Tatiana Revoredo argued that crypto adoption in Brazil, which saw its currency melt in 2020, will intensify, with Bitcoin once again asserting itself as an economic-protection asset. She believes that the crypto markets will see “an increase in the interest of Brazilians, with consequent increase in the Brazilian market, with a prominent role for Bitcoin being adopted as a protective asset.”

CBDCs and national governments

The digitization of economies has placed the discussion of central bank digital currencies, or CBDCs, at the center of debates by financial authorities around the world. One of the countries that has definitely entered this race is China, which is already conducting real tests of the digital yuan in the country. Its main geopolitical rival, the U.S., announced that for the time being, it does not intend to digitize the dollar, but it is already seeing internal pressure from not following the Chinese leadership in the sector.

The Central Bank of Brazil has also commented on the transformation of the Brazillian real into a digital currency a few times, although there are no concrete plans for that in the short term.

Osório believes the European Union will join the hype soon, further accelerating the global race for CBDCs: “Although China appears to be leading the CBDC race, other countries are also beginning to move in this direction. Among them, Estonia, which recently started an internal consultation for the launch of its currency in the digital version. In particular, I believe that in Europe a more comprehensive and organized movement should take place in this sense, given the incentives promoted by the European Union.”

Many experts try to predict the impacts of CBDCs on economies — one of the main concerns of economic regulators. Governments, which largely study the adoption of blockchain in their public processes, should also enter the debate on privacy and the digitization of money.

According to Tatiana Revoredo, “in the government sector, the forecast is for the growth of [blockchain] applications in document registration and health applications, as well as a greater concern, by the citizens, regarding the relationship between privacy and CBDC.” She also claims that payments processors should closely monitor this innovation:

“Those who should be more attentive to these movements are the means of payment, such as PayPal and their peers. They will have to look deeply into their business models as soon as governments start issuing their currencies digitally. ”

Blockchain adoption

Governments have also viewed blockchain technology through a positive lens. In Brazil and Latin America, several state entities already use the technology to certify documents, including customs and notary offices. Big companies are also adopting blockchain to certify production, with use cases that are only expected to grow going forward.

Borges said that the acceleration of blockchain adoption by large companies and governments can positively impact crypto assets:

“Within the scope of blockchain technology, I see the development of interesting solutions, with the increasing involvement of traditional players, especially in the financial and agribusiness sectors, which may result in increased liquidity for certain assets.”

Revoredo agreed and highlighted the advancement of technology in the agricultural sector: “There has been a significant advance in agribusiness, with use in the identification of devices (drones, for example), integration with IoT and artificial intelligence to provide greater reliability and certify quality of agricultural production.”

Osório defended the growth of the blockchain market in 2020 and its prospects for the near future: “When we look at advances in blockchain with applications beyond digital currency, we see a growing market in the area of ​​decentralized digital identity, including with the approach of governments. We have seen movements in governments in the US and Japan, interested in modernizing their digital governance models. And the pandemic has certainly helped to accelerate and advance discussions on the issue around the world, as it understands that the digitization of analog and traditional services is a necessity.”

The end of 2020 was a milestone that closed out one of the most dramatic years in the history of contemporary societies, but it also revealed ways to combat global economic and health crises.

Blockchain technology has helped societies fight corruption, adopt more transparent processes and even contributed to the certification of medicines and vaccines during the most serious health crisis of the last 100 years, in addition to helping companies to improve procedures, products and services.

Meanwhile, Bitcoin has strengthened as an economic protection and investment product, has attracted institutional investment giants, and — together with other crypto technologies — has even laid the foundation for central banks around the world to start implementing their own digital currencies.

We still do not know the depth of the revolution we are experiencing with the digitalization of societies and the weakening of national currencies around the world, but by the end of 2021, we will certainly know many of the answers to the questions that still plague us at the beginning of this new year.

Crypto and blockchain: What the Brazilian market can expect for 2021

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Crypto Lending Platform Celsius Now Holds More Than $5.3 Billion

January 21, 2021 by Blockchain Consultants

Cryptocurrency rewards-earning platform Celsius Network announced that it now holds over $5.3 billion worth of crypto assets. The news is coming months after Chainanalysis announced that it has validated $3.3 billion in total assets held by Celsius.

With this recent evaluation, Celsius has become the second-largest digital asset manager in the world, behind Grayscale Investments. Celsius has continued to grow in asset management since last year, as the crypto asset manager has gained a considerable level of exposure and asset under management.

Since November last year when Chainanalysis made the confirmation, the company has added more than 125,000 new users, which now makes it over 340,000 total active users.

Other impressive milestones

Celsius has crossed other impressive milestones as the company prepares to gain more market share this year.

The firm now has more than 55,000 BTC held under management and more than $200 million as token rewards to the Celsius community, Besides, the platform has 45 different coins and tokens supported and earning yield. Also, the firm’s native CEL token has grown significantly, as it has hit an all-time high of $6.1, making it on the top 40 list of Coinmarketcap.

Celsius enables thousands of users and consumers to gain financial impendence through investments in digital currencies. It offers instant low-cost digital asset loans that are accessible through a mobile app or via the web.

It is designed on the principle that financial services should only operate for the best interest of the community and the customers. Membership in the fee-free platform offers access to curated financial services that are unavailable in traditional financial institutions. The company was established in 2017. It started offering a decentralized trading platform that enables customers to earn up to 10 percent of their crypto shares. It also enables Ethereum holders to earn about 9 percent from their investments.

In May 2018, the company raised about $50 million through an initial coin offering. The startup lends its assets to retail investors, investment funds, and miners on a collateralized basis.

The company said 80 percent of the returns are passed on to holders.

Crypto Lending Platform Celsius Now Holds More Than $5.3 Billion

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Filed Under: blockchain, cryptocurrency Tagged With: btc, Celsius, crypto, cryptocurrency, Currencies, data, decentralized, Digital, digital currencies, ethereum, financial services, grayscale, initial coin offering, investment, Investments, Market, Mobile, mobile app, news, other, Tokens, Trading, world

Ether could be heading for $10.5K, says Fundstrat strategist

January 20, 2021 by Blockchain Consultants

After hitting a new all-time high, the Ether (ETH) price could potentially head to $10,500, according to a strategist at major market research company Fundstrat Global Advisors.

Fundstrat’s strategist David Grider commented on ETH hitting new historical records of about $1,430 in an investor note on Tuesday, Bloomberg reports. Grider said that the second-largest cryptocurrency could climb more than sevenfold to $10,500 after setting a new record.

The strategist reportedly said that Ether is now “the best risk/reward investment play in crypto,” emphasizing that the Ethereum blockchain is the biggest foundation for decentralized finance, or DeFi, applications. “Blockchain computing may be the future of the cloud,” Grider noted.

As Ethereum has been progressing with its Proof-of-Stake upgrade, its network has the potential to scale significantly, and process transactions at a level similar to Mastercard and Visa, the strategist added.

The latest Ether prediction comes as ETH finally broke its new historical record on Jan. 19, 2021, about 10 days after Bitcoin hit its $42,000 ATH on Jan. 8. Despite Bitcoin outpacing Ether to be the first coin to post a new ATH after the 2017 crypto rally, Bitcoin is apparently less popular in terms of daily transactions so far. According to January data from crypto analytics firm Messari, the Ethereum network now has up to 28% more transactions daily than Bitcoin.

At publishing time, ETH is trading at $1,290, down about 9% over the past 24 hours. Over the past 30 days, the altcoin has surged more than 100%, according to Cointelegraph’s ETH price index.

Ether could be heading for $10.5K, says Fundstrat strategist

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Filed Under: blockchain technology Tagged With: altcoin, analyst, Bitcoin, blockchain, cloud, computing, crypto, Cryptocurrencies, cryptocurrency, data, decentralized, Decentralized Finance, DeFi, ETH, ether, Ether Price, ethereum, Ethereum Blockchain, finance, Fundstrat, head, index, investment, Market, mastercard, post, Predictions, Trading, visa

With Blockchain’s real estate development, we are all quite accustomed to all the hidden perks of…

December 4, 2020 by Blockchain Consultants

How to Shift to Coding for Decentralized Systems?

With Blockchain’s real estate development, we are all quite accustomed to all the hidden perks of centralized systems. Decentralized systems, on the other hand, offer a whole new world of possibilities. If you are looking forward to shifting your coding for decentralized systems, there are several aspects to look for.

There is no involvement of any third-party, which certainly promotes transparency above anything else. Neither less to say, all the transactions can easily be seen through the user’s public domain. Having a clear understanding of the STO Development Services is very crucial.

We cannot precisely say how we entered the digital world, but there is no turning back. In fact, Real estate blockchain development offers a crypto exchange option if you have a real estate property that needs to be taken care of. The need for creating a secure and advanced platform is absolutely necessary for a decentralized digital ecosphere.

Blockchain is one of the trusted sources which is helping to build a financial system that depends on cryptocurrency. As we all are aware, the year 2020 has been one of the toughest years due to pandemic and followed by an economic crisis. Despite all the odds, Real estate blockchain development has bright future plans for its users. If we look into the global economy, then real estate plays a vital role. Not only for the fact that it generates trillions of dollars, but with time, there has been a downfall in terms of transactions. Cleary, the transparency between the different bodies maintaining the financial aspects has not shown positive progress. As a result, here are some of the benefits offered by Blockchain’s real estate development.

  • Allowing tokens for transactions in regards to assets concerning real estate.
  • With an automated process in the real estate area, the cost can be reduced to a certain extent.
  • The user can now access global assets and buy and sell it efficiently.
  • With the trans[arency in the data and as a user, when you can get your hand on the information, it further helps you to make better financial decisions and look for a profitable portfolio.

To simplify it, these tokens are assets that can be compared to bonds, share stock, warrants, and lastly, bonds. The Security Token Offering Development team is entirely responsible for guiding the investor and increasing the chances for earning profit.

STO stands for Security Token Offering, which is a term used for digital or cryptographic exchange. To deep dive into the topic further, STO Development Services carefully helps to secure the token, and the technical team can create a dashboard for better understanding the fund and investors’ interest. The need for STO services ensures the digital transaction is safe, and one can continue with the trading.

Here are a few examples of how Blockchain’s real estate development transformed the real estate industry.

One needs to keep in mind as they enter the real estate market guidance from an experienced person, in-depth knowledge, and lastly, executing the idea with help from professionals from the real estate field.

  1. Managing Assets and real estate funds.
  2. Financing projects in real-time.
  3. Accounting details being shared in real-time.
  4. Guide to investors before investing in any particular project.
  5. Last but not least, managing the property.
  6. Planning of the real estate only after consultation with the group of people designing urban societies.

Whenever there is an urban community, the initial work of real estate development starts with help from people staying in such a community. Often those individuals feel dejected for not partaking in the planning procedure. But with the help from the blockchains planning program, it can educate the people. In return, they can earn incentives with active participation with a few educational resources. This ensures that the community of people is happy, thereby improving confidence in the public. As well, it helps the community to thrive together on prosperity by achieving sustainable success.

Lastly, one needs to educate oneself before entering the cryptocurrency territory. Blockchain is one of the leading bitcoin explorer services. Since this is a comparatively new area, people need to gather as much knowledge as they can before doing it right. Hence the need for various teams to make sure the investment bears fruit with passing the time; one such important part is the STO Development Services and STO Solutions, which will help you make better decisions with your investments.

With Blockchain’s real estate development, we are all quite accustomed to all the hidden perks of…

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Filed Under: blockchain, blockchain development, blockchain technology Tagged With: Better, Bitcoin, blockchain, blockchain-application, blockchain-development, blockchain-startup, blockchain-technology, blockchains, Bonds, coding, crypto, crypto exchange, cryptocurrency, data, decentralized, Digital, economy, exchange, Go, information, Investing, investment, Investments, Market, other, security, Tokens, Trading, world

Real Estate Investing Through Security Tokens

December 1, 2020 by Blockchain Consultants

Codezeros

Real estate being the largest global market in the world, is currently valued at approximately $200 trillion which is 33 times more than the global gold market. Small improvements in the real estate market can have tremendous economic value. It’s hard to find a segment that has not been influenced by Blockchain Technology and real estate couldn’t escape the blockchain disruption either.

In this article, we will look at how blockchain technology can be leveraged to invest in real estate through STO solutions.

Tokenization refers to the digitization of real-world assets. With the help of Blockchain in Real Estate, digital assets can be programmed to represent ownership rights, which can be sold as “security tokens”. Through the use of robust smart contracts and technology, security tokens create a standard trade between buyers and sellers.

The main difference between security and utility token is that security token holders are entitled to ownership rights and are considered as “securities” by most financial regulators whereas utility tokens function as coupons and give holders no right or stake in the asset.

Real estate being the largest global market in the world, is currently valued at approximately $200 trillion which is 33 times more than the global gold market. Small improvements in the real estate market can have tremendous economic value.

Let’s explore some possible improvements in-depth:

  1. Increased Liquidity In Real Estate

Blockchain technology in real estate adds liquidity in the intrinsically illiquid market. With Security Token Development, it is easy for the owners of expensive properties to quickly sell their assets without affecting the price. Miniscule investors can diversify their global real estate portfolio with a small ticket.

2. Reduced Intermediaries

With blockchain, the number of intermediaries is reduced almost to naught as most of the processes are automated and minimal human participation is required. This substantially eradicates the fees and charges paid to the intermediaries, which will ultimately result in significant cost and time savings.

3. Enables Fractional Ownership

Blockchain real estate development would lower the barriers to real estate investing by allowing fractional ownership. Typically, investors would require a significant amount of money upfront to acquire property but tokenizing ownership enables “fractional shares” which lowers the capital requirement. Hence, it would be possible to hold half or even 10% or 20% of the land.

4. Diversifies Real Estate Portfolio

Diversifying investments minimizes the risk. Real estate investing through blockchain enables the ability to diversify the investments not only by region but also by allowing the investors to spread their money in different categories of real estate; be it residential, multifamily, commercial, or cash flow properties. By tokenizing ownership of a real estate, investors do not necessarily have to own 100% of a single property but they can own 10% of a property in 10 different cities around the globe.

5. Irrefutable Proof Of Real Estate Ownership

The digital history of transactions held in the blockchain ledger enables the investors and stakeholders to prove their ownership beyond any doubt. This technology leaves no room for fraud attempts. It shows the exact history of ownership and makes it impossible to falsify transactions or con the investors.

In the next part, we look at some of the ongoing projects who used Blockchain real estate development by converting them into security tokens.

Polymath

Polymath makes it easy to unlock the blockchain to tokenize and trade assets. It is dramatically lowering the barriers by providing STO Solutions that represent real-world ownership of assets such as real estate. It is an ecosystem that comprises KYC/AML, broker-dealers, law firms, and exchanges that facilitate the compliance of security tokens.

Polymath had partnered with BlockEstate, a real estate fund in an attempt to use predictive analytics to manage its real estate portfolio. Unfortunately, they decided to shut down the project which would have been the first instance of a real estate property represented by the ST-20 Security Token protocol.

Harbor

A platform designed for tokenizing private investments, Harbor seeks to leverage blockchain technology to record, maintain, and transfer ownership of investments including real estate. It provides a decentralized protocol to establish and maintain standardization for tokenized securities. Announced with much fanfare, Harbor’s STO Development Services for a real estate project (Hub at Columbia REIT) had collapsed.

ReitBZ

Security Token Offering Development by ReitBZ is the first of its kind for the Brazilian real estate market. It combines local expertise and global reach to offer the best investment opportunities for its investors. They claim that real estate is a flourishing market in Brazil and after a period of economic lockdown they have started to recover and it is the right time to invest in this asset class.

Challenges

Though blockchain technology could have a drastic effect on the real estate industry, it is still in its early stages and full adoption and adaptation across the real estate industry come with its own set of challenges like regulatory uncertainty and general lack of understanding in the budding industry as many are yet to fully explore its potential applicability.

Though it is clear that this emerging technology has the potential to disrupt the real estate industry, there is a long road ahead before it reaches maturity. We see a strong promise and future regarding its implementation and proper regulation with time and efforts and before we know, we would be buying our new house on the blockchain.

Real Estate Investing Through Security Tokens

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Filed Under: blockchain, blockchain development, blockchain technology Tagged With: Adoption, article, blockchain, blockchain-application, blockchain-development, blockchain-startup, blockchain-technology, brazil, Cash, Cities, Compliance, decentralized, Digital, Disrupt, Exchanges, fraud, Go, gold, Harbor, Investing, investment, Investments, Law, Ledger, Market, money, Regulation, security, smart contracts, Technology, Tokens, world

Top 5 cryptocurrencies to watch this week: BTC, ETH, XRP, LTC, XLM

October 25, 2020 by Blockchain Consultants

Hot on the heels of Paypal’s crypto adoption, JPMorgan’s Global Markets Strategy division released a report detailing how Bitcoin (BTC) could offer “considerable” upside “if it competes more intensely with gold as an ‘alternative’ currency.”

According to the analysts, the three reasons for their long-term bullish view on Bitcoin are the large valuation gap between Bitcoin and gold, the growing utility of cryptocurrencies, and millennials preferring Bitcoin over gold in the long-term.

This report shows that institutions are gradually realizing the huge potential of cryptocurrencies and are willing to take a U-turn on their previous apprehensions.

Crypto market data daily view. Source: Coin360

Galaxy Digital CEO Mike Novogratz said that PayPal’s decision on crypto could force other big banks to consider ways to engage with digital assets. “We are going to see, over the next 10 years, a rebuilding of the financial infrastructure of this country,” Novogratz added in an interview with CNBC.

On similar lines, in a recent interview with Peter McCormack, Gemini crypto exchange founders Tyler and Cameron Winklevoss reiterated their bullish Bitcoin stance, explaining that they expect BTC to eventually reach $500,000.

The twins believe that if big Fortune 100 or 500 companies and central banks start buying Bitcoin for their treasury reserves, Bitcoin’s price could soar.

At the moment investors are wondering if Bitcoin can build upon the current bullish momentum and continue its journey northward.

Let’s study the charts of the top-5 cryptocurrencies to find out if Bitcoin and altcoins will move higher.

BTC/USD

Bitcoin (BTC) is in an uptrend and the price has been sustaining above the breakout level of $12,460 for the past few days. The rising 20-day exponential moving average ($11,938) and the relative strength index in the overbought zone suggest that bulls are in command.

BTC/USD daily chart. Source: TradingView

The bulls had pushed the price above $13,214 today but they could not sustain the higher levels. This suggests that the bears have not yet thrown in the towel and are defending the $13,200 level.

However, as the trend is up, the bulls are likely to buy on dips to the breakout level of $12,460. Even if this support cracks, the bulls may again step in and buy at the 20-day EMA.

If the BTC/USD pair rebounds off either level, the bulls will once again try to push and sustain the price above $13,214. If they succeed, a rally to $14,000 could be on the cards.

This positive view will be negated if the bears sink the price below the 20-day EMA. Such a move will suggest that the current breakout was a bear trap.

BTC/USD 4-hour chart. Source: TradingView

The bears thwarted an attempt by the bulls to extend the uptrend today when they did not allow the bulls to sustain the price above $13,214. The sellers dragged the price down to the

immediate support at the 20-EMA on the 4-hour chart.

The bulls are currently attempting to keep the price above the 20-EMA but the bearish divergence on the RSI suggests that the momentum may be weakening.

A break below the 20-day EMA could result in a retest of $12,460, while a strong rebound off the current levels could resume the uptrend.

ETH/USD

Ether (ETH) broke above the $308–$396 range on Oct. 22, which suggests that the bulls have overpowered the bears. Although bears have stalled the up-move at $420, they have not been able to pull the price back below $396.

ETH/USD daily chart. Source: TradingView

This suggests that the bulls are buying on dips to $400. The upsloping 20-day EMA ($383) and the RSI above 59 also indicate that bulls have the upper hand.

If the bulls can push the price above $421, the ETH/USD pair could start a rally that may challenge the Sep. 1 highs at $488.134.

This bullish view will be invalidated if the bears sink the pair back below $396 and the 20-day EMA at $383. Such a move could keep the pair range-bound for a few more days.

ETH/USD 4-hour chart. Source: TradingView

The pair has formed a flag pattern following the breakout above $400. The long tail on the retest of the breakout level suggests that bulls are accumulating at lower levels. A breakout above the flag will signal the possible start of a new uptrend.

Contrary to this assumption, if the bears sink the price below the flag, a drop to the $396–$400 zone is likely. If the pair once again rebounds off this support, the bulls will try to resume the uptrend. Conversely, the trend will favor the bears if the $388 support cracks.

XRP/USD

Although XRP has not yet started an uptrend, it has formed a possible inverse head and shoulders pattern that will complete when the price breaks out and closes above the overhead resistance at $0.26.

XRP/USD daily chart. Source: TradingView

If that happens, the XRP/USD pair could pick up momentum and rally to $0.30. A sequence of higher highs and higher lows since the Sep. 23 lows indicate a minor advantage to the bulls.

If the pair rebounds off the 20-day EMA ($0.249) or the uptrend line, the bulls will try to drive the price above $0.26.

This positive view will be negated if the bears sink the price below the uptrend line. Such a move could result in a drop to $0.228409.

XRP/USD 4-hour chart. Source: TradingView

The failure of the pair to sustain above $0.26 could have resulted in the liquidation of long positions that pulled the price below the 20-EMA on the 4-hour chart.

Currently, the flattish 20-EMA and the RSI near the midpoint suggests a balance between supply and demand.

A breakout of $0.2635 could tilt the advantage in favor of the bulls while a break below the uptrend line may signal an upper hand to the bears.

LTC/USD

Litecoin (LTC) completed an inverse head and shoulders pattern when it broke out and closed above the overhead resistance at $51.50 on Oct. 21. This setup has a target objective of $61.50 and if this level is crossed, the up-move may extend to $64.

LTC/USD daily chart. Source: TradingView

The rising 20-day EMA ($51.30) and the RSI near the overbought zone suggest that bulls have the upper hand.

Usually, after the breakout of a reversal pattern, the price dips to retest the breakout level. In this case, such a move could drag the price down to $51.50. If the price rebounds off this level, it suggests that the breakout is valid.

However, if the bears sink the LTC/USD pair below the 20-day EMA, it will suggest a lack of demand at higher levels. Therefore, it is a good strategy to wait for a rebound from a strong support before buying rather than enter on the way down.

LTC/USD 4-hour chart. Source: TradingView

The 20-EMA on the 4-hour chart is sloping up and the bulls have been buying the dip to this support in the past few days. This suggests that the sentiment is positive and the bulls view dips as a buying opportunity.

The RSI has been trading near the overbought zone, which also suggests that bulls are in control. A break below the 20-EMA will be the first sign that the momentum may be weakening. Such a move could result in a drop to $53 and then to $51.50.

XLM/USD

Stellar Lumens (XLM) has repeatedly risen above the overhead resistance at $0.084584 in the past few days but the bulls have not been able to capitalize on the move and start a new uptrend. This suggests that the bears are defending this resistance.

XLM/USD daily chart. Source: TradingView

However, the upsloping 20-day EMA ($0.080) and the RSI in the positive territory suggests that bulls have the upper hand.

If the bulls can propel the price above the $0.084584–$0.087753 resistance, the XLM/USD pair will complete a rounding bottom pattern. This reversal setup has a target objective of $0.102327.

Contrary to this assumption, if the pair turns down from the current levels and breaks below the 20-day EMA, it will suggest that the bulls have squandered their advantage.

XLM/USD 4-hour chart. Source: TradingView

The pair broke below the support line of the triangle but the bears have not been able to capitalize on this move. The bulls are currently attempting to push the price back inside the triangle.

If they succeed, the pair could rally to the resistance line of the triangle. A breakout and close above the triangle might begin a new uptrend.

Contrary to this assumption, if the bears sustain the price below the support line of the triangle, the sentiment could weaken and the pair may drop to $0.079 and lower.

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.

Top 5 cryptocurrencies to watch this week: BTC, ETH, XRP, LTC, XLM

Source

Filed Under: blockchain technology Tagged With: Adoption, altcoins, author, Banks, Bitcoin, Bitcoin Price, btc, BTC/USD, Cameron Winklevoss, ceo, Companies, correction, crypto, crypto exchange, Cryptocurrencies, Currency, data, Digital, ETH, Ethereum Price, exchange, gold, head, index, Infrastructure, interview, investment, LINE, Litecoin price, LTC, Market, Markets, opinions, other, price analysis, signal, Stellar, Study, Trading, tradingview, view, winklevoss, xrp

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