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BTC Trading at $10300, Bitcoin Price Is Up but Not Restored after Falling



On Thursday, September 10th, the BTC rate is slightly growing, trading at $10378 USD after a recent drop.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex.

  • BTC is trading higher today: BTC/USD Tech analysis.
  • In Kraken, they expect the Bitcoin rate to fall in September.
  • The BTC hashrate renewed the high again.

On W1, Bitcoin  (BTC) keeps trading with an uptrend. The quotations are currently testing 61.8% Fibo, a bounce off which will signal further growth. The aim of this movement will be at 100.0%. The MACD histogram is positive, which is most likely a signal of further growth. The signal lines of the indicator keep intertwining after they formed a Black Cross,. Which means the growth may soon resume. The Stochastic keeps growing to the overbought area, which increases the possibility of further growth after the correction.

Photo: RoboForex / TradingView

On D1, the technical picture of BTC/USD is almost identical to that on W1: the pair is finishing the correction. The aim of further growth after a bounce off the support line will be $12700 USD. The MACD histogram is declining, staying negative, increasing the chances for further correction. The signal lines of the indicator formed a Black Cross, becoming additional support of the correction. In the end, the weekly and daily charts give the opposite information. The deepening of the correction before further growth looks more probable.

Photo: RoboForex / TradingView

On H4, the perspectives of the pair look brighter than on the larger timeframes. The Stochastic formed a Golden Cross in the oversold area, giving another signal of growth.

Photo: RoboForex / TradingView 

In the Kraken crypto exchange, this September, the price of the leading cryptocurrency may go down. The monthly report shows that judging by the history, the average profitability of the BTC in September is negative, amounting to some -7%. As long as the year 2020 is far from typical, in Kraken, they admit that this time the cryptocurrency may lose even more. On the whole, though, this summer was rather successful for the BTC.

After the pandemics, platforms are getting back their volatility, which is good. This includes the attempts of capital markets to renew the highs and continue rallies, the decline of the BTC share in the market to the lows of the last years, the impressive amount of cryptocurrencies accumulated in the users’ wallets that has been without transactions this whole year, etc.

History shows that if a large volume of coins stays in wallets untouched for a year, this may cause a rally in the cryptocurrency.

The BTC hashrate (the processing power of the network) renewed all-time highs during the first week of September, amounting to 151,75 EH/s. This happens while the cryptocurrency is declining, which is unusual.

Disclaimer: Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Bitcoin News, Cryptocurrency news, Guest Posts, News

Kseniia Klichova
Author: Dmitriy Gurkovskiy

Dmitriy Gurkovskiy is a senior analyst at RoboForex, an award-winning European online foreign exchange forex broker.

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What is it and why is Kim Kardashian pumping it?




They weren’t thinking about Kim Kardashian when the official website for Ethereum described Ethereum as the “Foundation for our digital future.” 

Her Instagram account to over 200 million followers received her advertisement for Ethereum Max. This made it the single biggest piece of social media crypto promotion ever in terms of absolute reach. The only one to have more influence over crypto via social media is Elon Musk. 

“Are you guys into Crypto???? This is not financial advice but sharing what my friends just told me about the Ethereum Max Token! A few minutes ago Ethereum Max burned 400 trillion tokens – literally 50% of their admin wallet giving back to the entire e-max community.” Followed of course by obligatory hashtags: #emax, #disrupthistory, #ethereummax #wtfemax #giopemax, #AD

In a youtube video, CoinDesk analysts claimed this might be the ‘biggest crypto shill of all time.’

We know Kim was paid for her post. She has to claim so with the hashtag #AD, meaning the post is for advertising purposes. The details of just how much she charged for the post is another story. We do know Kim Kardashian can begin to ask for sums starting from $858,000 US per Instagram post. This isn’t her first time either! She also once promoted Bitcoin at a charity event. 

So what’s wrong with advertising Ethereum Max on Social media?

The real harrowing thing? Kim is not the only social media influencer with their claws in young people. Beauty queen influencer Loren has 21.8 million followers and delivered the news to her fans about her partnership with crypto exchange Gemini. Her affiliate campaign offers users 10 free dollars (We assume USD) in BTC for signing up to Gemini. 

She’s not the only one either. NBA great Paul Pierce shouted out EthereumMax or ’emax.’ Boxing king Floyd Mayweather wore an EthereumMax t-shirt during his weigh-in for the fight against Logan Paul. In fact, the Ethereum-based token was the only crypto accepted for online ticket purchasing for the Mayweather/Paul fight on pay-per-view. 

However, that’s for Bitcoin. Ethereum Max might be something completely different…

So, what is Ethereum Max? 

Courtesy of


According to the project’s official website, Ethereum Max is a yield-based token providing 3% distribution of every transaction to existing eMax wallet holders. The project also considers itself to be a ‘lifestyle’ token offering access to ‘VIP Experiences, lifestyle brands, sporting events, concerts and more.’

The fundamental most important points about Ethereum Max are: 

  • No one knows who actually built Ethereum Max, except for maybe Kim Kardashian West (And anyone else involved!).
  • Ethereum Maxi s an ERC-20 token. It is not an upgrade of the Ethereum token. ERC-20 tokens require little technical skill to create.
  • It was launched in April or May of 2021. Ethereum Max’s novelty should be one reason to be wary of it.
  • There is no whitepaper, no development roadmap, and no one actually knows who made it.
  • ERC-20 tokens create value by operating secondary software systems, and have no real function. No one knows what Ethereum Max is actually for.
  • There is no About Us on the website, nor do we know anyone of the players involved.

The bottom line is to be careful

It’s scary to think just how much influence celebrities like Kim K have in a world where more and more young people are becoming retail crypto investors. For all we know, the 3% financial incentive touted by Ethereum Max is going to just fall through if the token’s value plummets. 

Just like that, its the small-time investors at the mercy of whale wallets that will be left holding the bag. One Youtube personality and billionaire crypto investor Alex Becker said that retail investors are the ‘blood sacrifice’ for whales seeing massive returns. Maybe that’s why Ethereum Max’s logo is red?

Pundits who have investing experience might be right when they compare many cryptos to ponzi schemes. Meanwhile, Instagram influencers get to enjoy the revenue from paid posts, no matter what happens to the markets or to people’s savings as a result.  

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Why Elon Musk is Pushing Renewable Energy for Cryptomining




San Francisco / USA – Mar, 2020: Elon Musk, CEO of SpaceX, founder of Tesla. Famous entrepreneur. Vector portrait illustration.

The ‘Dogefather’ Elon Musk  delivered his ultimatum on Sunday, essentially. 

It’s pretty easy to see why. When the goal of your business is to reduce fossil fuel consumption, it’s important to take a lead. Elon Musk’s tweets about Bitcoin are the all-time best example of just how much power he holds. 

There are many things we can admire Elon Musk for, and chief among them is this move. Regardless of what our personal opinion is, he purposely took a risk in order to take a stance.

Also, he’s not wrong. It is stated that Bitcoin production (or mining) is estimated to generate 22 to almost 23 million metric tons of carbon dioxide emissions per year. According to this report, that’s somewhere between the amounts produced every year by Jordan and Sri Lanka. 

So it makes sense why the owner of an electric car company, which was made to cut down emissions, would want to stop receiving payments in something that causes such emissions. 

While thinking about that can give us a headache, it’s important to realize one important thing: This is good news. 

After all, when was the last time a billionaire actually did something about the environment? Just like Elon’s support for Doge, maybe it’s part of a longer game, one that is nestled in Musk’s future plans with renewable energy. Perhaps his wrestling with the price of Bitcoin, causing so many others to become wannabe crypto bull wranglers has a deeper purpose… 

The Real Reason Why Elon Musk Might Be Cracking Down on Bitcoin Miners 

Seeing the fallout from Elon Musk’s tweets leads down a rabbit hole. Eventually, you discover his plan to build the world’s largest virtual power plant. Musk unveiled an ambitious plan for 2022 and beyond to power 50,000 homes in South Australia over four years with free solar panels and Tesla batteries. It is estimated that this will produce 20 percent of the entire state’s daily energy requirements. This could lower energy bills for the households involved by 30%. 

What do lower energy bills mean? Increased savings, more consumer spending power, and a more efficient economy – especially in times of such staggering inflation. While this is great news in concept, so far, it’s going to be conducted in South Australia. Are we going to see more places getting the Magic Musk Energy Booster Shot? 

Is it so farfetched to believe that Elon Musk’s tweets about crypto mining emissions might be to prepare for something bigger? Could we see a future tweet from Musk launching a sustainable-only  crypto mining company? Perhaps he will lobby with governments using his company’s products as leverage. It’s almost like he’s saying Be sustainable or else! 

It’s similar to the old concept of having a monopoly on something, and offering it only to those who meet certain requirements for saidpurchase. So in essence, this makes Elon Musk the world’s first ‘Robinhood Baron’. 

But hey, what about Lithium?  

Salinas Grandes Salt Desert, Jujuy, Argentina

US-based auto manufacturers are going all in on EVs. The real fuel behind the world’s best electric cars like Tesla (NASDAQ:TSLA), Nio Inc (NYSE:NIO) ? 

 Even the fictional Robinhood wasn’t a complete saint (We’re talking about the story, not the trading platform made infamous after they vetoed retail investor’s positions in Gamestop Corp (NASDAQ:GME). The EV boom, Elon’s tweets and the crypto craze all over shadow the biggest and least-spoken-of elephant in the living room of modern history: Lithium.  

The Lithium Triangle, an area spanning portions of Bolivia, Chile and Argenita contains more than half the world’s supply of metal under salt flats that make it look like an alien world. Miners drill a hole in the salt flats, then wait for brine to surface, and after 12-18 months extract filtered lithium carbonate. It’s cheap, effective, but uses 500,000 gallons of water per tonne of lithium mined. 

In Chile’s Slar de Atacama, lithium mining consumed 65% of the area’s water supply. The farmers there relied on this. Not sure Elon can fix that with a tweet. 

This leads us to another point… Could Elon Musk be cracking down on Bitcoin miners because of the damage the lithium boom is causing?

Elon Musk might be an easy scape goat, yet the need for lithium carbonate existed long before he was coding in his tiny apartment in San Diego. 

The Conclusion

Ultimately, the golden rule seems to be to follow the money. Dips in crypto like BTC can be a good thing, especially when it means more people get access to the crypto markets. 

Elon Musk is completely right. By discouraging pollution from cryptomining, he sets a precedent for others to hopefully do the same. 

Investors looking to diversify into standard markets can look to Lithium stocks as the EV boom continues to gain ground. Maybe TSLA (NASDAQ:TSLA) won’t be the first electric car sold for a cryptocurrency. 


Featured Image & Other Images: Megapixl, DepositPhotos

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Tim Draper Says Bitcoin to Hit $250K in 2022




Bitcoin price remains volatile with the swing in any direction possible but Draper is confident the overall trend will be bullish in the foreseeable future.

Two billionaires with a vested interest in cryptocurrency and decentralized finance have expressed optimism about bullish trends continuing in the future. Tim Draper, a venture capitalist with a substantial but undisclosed amount of Bitcoin, has chosen to stay by his predictions that BTC will reach a price of $250,000 at the end of 2022. He maintains this stand despite the volatility of the market in recent months and the contention about the coin’s huge energy usage.

Draper bases his predictions on three facts. Primarily, he is encouraged because more retailers will embrace Opennode as a means of payment in the coming years. Currently, only a few companies like Home Depot, Microsoft, PayPal and Starbucks (to mention a few) accept BTC as a means of payment.

Also, Draper considers the limited number of BTCs (only twenty-one million) that can be mined as a plus. He also believes the fact that there are engineers constantly working to improve the Bitcoin platform making it even more likely that the platform will remain sustainable, unlike some others.

BTC reached a peak price of $64,829 in April before the price crashed to around $30,000. However, on Monday, it rose by over 7%. However, Bitcoin price remains volatile with the swing in any direction possible but Draper is confident the overall trend will be bullish in the foreseeable future.

He isn’t alone in his convictions. Another billionaire investor Mark Cuban is also bullish about the future of decentralized finance (DeFi) and decentralized autonomous organizations (DAOs).

Cuban believes that DeFis and DAOs pose enough threat to traditional banks and financial institutions. In his blog post published on Sunday, he said, ”banks should be sacred.”

By incorporating cryptocurrency into the traditional financial system, DeFi applications are helping us rethink the way we carry out financial transactions. DAOs help to govern and oversee DeFi applications and other projects.

Cuban believes the decentralized protocol behind the system makes DeFi and DAOs a tremendous competition to banks. In addition, DeFi exchanges do not require a lot of capital when scaling operations. This is particularly true because liquidity providers (LP) can step in to fill that gap.

Of course, there are risks and technicalities to DeFi and DAO that need to be addressed and Cuban acknowledges them but retains his confidence that “this approach is the future of personal banking.”

Despite these obvious risks, DeFi has been gaining ground recently with over $60 billion currently locked in DeFi protocols, according to DeFi Pulse.

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An experienced writer and Fintech enthusiast, passionate about helping people take charge of, scale and secure their finances. Has ample experience creating content across a host of niche. When not writing, he spends his time reading, researching or teaching.

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