Cardano Price Prediction: Today’s ADA Price, 27th Oct 2022
The majority of recent Cardano (ADA) price forecasts have been favorable, as…
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Cryptocurrency Price Prediction: ETH, BTC, Cardano, 27th Oct 2022
The price of bitcoin is on the upswing during the Asian session, rising more than 4% to $20,260. Ethereum, in comparison, is on fire, rising more than 10% in the previous day to trade at $1,485.
Major cryptocurrencies were up early on October 26 as the market cap of all cryptocurrencies increased by about 5% to $976 billion. On the other hand, the total volume of the crypto market rose by nearly 69% in the previous day to $89.24 billion.
The $3.66 billion total volume of DeFi at this time is 4% of the 24-hour volume of the whole crypto market. Currently, the total 24-hour volume of the cryptocurrency market is $80.85 billion, or 90% of the total volume of all stablecoins.
Ethereum Price Prediction
Since the cryptocurrency market is following the macro trend, Ethereum (the second-largest crypto asset) will experience more downtrend during the recession.
It is predicted that ETH will follow the stock market once the markets feel the pressure of increasing rates and the continuous pressure of inflation and even recession.
According to a crypto analyst, Ethereum will never again rise close to or exceed $1k per ETH, even if Bitcoin reaches $50k per BTC.
All altcoins, including Bitcoin, are still down from their all-time highs. However, most altcoins have gone below 80% or more and have lost a massive value in their BTC ratios.
Bitcoin Price Prediction
The price of one bitcoin is at $20,245 and there are $151 billion worth of transactions every day. In the past 24 hours, Bitcoin has gained by more than 4%. With a live market capitalization of $388 billion, CoinMarketCap is now ranked first.
The BTC/USD pair is currently trading substantially higher on Wednesday after escaping the symmetrical triangle formation at $19,250. As anticipated in the Bitcoin price forecast for October 26, the BTC/USD pair has traded positively, breaking through the $19,600 and $19,900 immediate resistance levels.
A triple-top pattern-extended immediate resistance level of $20,430 is where it is currently coming into contact.
The 50-day moving average encourages purchasing over the $19,300 mark, and the RSI and MACD are still in a buying zone, boosting the likelihood of a bullish run. As a result, if the triple-top pattern is broken, the upward purchasing trend may reach $21,000 or $21,900. But if the upward trend persists, BTC might surpass the $23,000 mark.
On the downside, Bitcoin continues to have some immediate support around the psychological threshold of $20,000 and $19,600. Investors should search for buy positions today that are more expensive than $19,900.
Cardano Price prediction
Cardano is currently drastically undervalued, according to a recent report by Santiment. Compared to the same time in 2019, the coin’s value is currently somewhat lower. The MVRV Z-Score is actually at -1.35, which is the lowest point it has been in 45 months.
At the time of writing, the value of ADA is $0.3609, according to sources, which is 3.10% higher than it was yesterday. The project’s volume for the past 24 hours is $403.02 million, which is almost $60 million more than it was for the same period yesterday.
Although there has been a fair lot of progress on the project, since November 2021, holders have not noticed a discernible rising trend. Cardano would need to see an 88% rise in order to go back to its pre-ATH value of 2021. As the week progresses, analysts anticipate a rise that is around half of that, or 45%. This is because of Hoskinson’s statement as well as the fact that Cardano, along with Bitcoin, XRP, and BNB, are flashing bullish signals, as reported by Santiment.
Shiba Inu Coin
Shiba Inu Coin slid by 9.41% on Friday. Partially reversing a 12.81% breakout from Thursday, Shiba Inu Coin ended the day at $0.0000387.
A mixed start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.0000429 hitting reverse.
Falling short of the first major resistance level at $0.0000479, Shiba Inu Coin slid to a late morning intraday low $0.0000357.
The sell-off saw Shiba Inu Coin slide through the first major support level at $0.0000376 and the 62% FIB of $0.000037.
Finding late morning support, however, Shiba Inu Coin revisited $0.000041 levels before falling back to sub-$0.000040 levels.
In spite of the late pullback, Shiba Inu Coin avoided a fall back through the first major support level and the 62% FIB.
At the time of writing, Shiba Inu Coin was up by 0.98% to $0.00003908. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00003821 before rising to a high $0.00003916.
Shiba Inu Coin left the major support and resistance levels untested early on.
For the day ahead
Shiba Inu Coin would need to move back through the $0.0000391 pivot to bring the first major resistance level at $0.0000425 into play.
Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000040 levels.
Barring another extended crypto rally, the first major resistance level and Friday’s high $0.0000429 would likely cap the upside
In the event of an extended breakout, Shiba Inu Coin could test the second major resistance level at $0.0000463.
Failure to move back through the $0.0000391 pivot would bring the 62% FIB of $0.000037 and the first major support level at $0.0000353 into play.
Barring another extended sell-off, however, Shiba Inu Coin should avoid sub-$0.000035 levels. The second major support level sits at $0.0000319.
For the bears, a sustained fall through the 62% FIB of $0.000037 would form a near-term bearish trend.
Looking at the Technical Indicators
First Major Support Level: $0.0000353
Pivot Level: $0.0000391
First Major Resistance Level: $0.0000425
23.6% FIB Retracement Level: $0.00006987
38.2% FIB Retracement Level: $0.00005680
62% FIB Retracement Level: $0.00003700
This article was originally posted on FX Empire
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Shiba Inu Coin
Shiba Inu Coin rallied by 13.36% on Tuesday. Following a 17.4% jump on Monday, Shiba Inu Coin ended the day at $0.00004795.
A mixed start to the day saw Shiba Inu Coin fall to an early morning intraday low $0.00004046 before making a move.
Steering clear of the first major support level at $0.0000370, Shiba Inu Coin rallied to a late intraday high and a new ATH $0.00004962.
Shiba Inu Coin broke through the first major resistance level at $0.0000456 and the second major resistance level at $0.0000489.
A late pullback, however, saw Shiba Inu Coin fall back through the major resistance levels.
In the final hour, Shiba Inu Coin broke back through the first major resistance level at $0.0000456 to end the day at $0.000047 levels.
At the time of writing, Shiba Inu Coin was down by 1.15% to $0.00004740. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.00004815 before falling to a low $0.00004720.
Shiba Inu Coin left the major support and resistance levels untested early on.
For the day ahead
Shiba Inu Coin would need to avoid the $0.0000460 pivot to bring the first major resistance level at $0.0000516 into play.
Support from the broader market would be needed, however, for Shiba Inu Coin to break out from Tuesday’s ATH $0.00004962.
Barring an extended crypto rally, the first major resistance level would likely cap the upside
In the event of another breakout, Shiba Inu Coin could test resistance at $0.000060 levels before any pullback. The second major resistance level sits at $0.0000552.
A fall through the $0.0000460 pivot would bring the first major support level at $0.0000424 into play.
Barring an extended sell-off, however, Shiba Inu Coin should avoid the second major support level at $0.0000369. The 23.6% FIB of $0.00003910 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.0000424
Pivot Level: $0.0000460
First Major Resistance Level: $0.0000516
23.6% FIB Retracement Level: $0.00003910
38.2% FIB Retracement Level: $0.00003259
62% FIB Retracement Level: $0.00002208
Please let us know what you think in the comments below.
Thanks, Bob
Crypto Flipsider News – September 27th – China Bans Cryptos, Huobi to Stop Servicing Chinese Users, Cardano Summit 2021, Kiyosaki Predicts Bitcoin Crash, and Slovenia to Be First Country to Launch NFTsRead in the Digest
- China Drops the Bomb on Cryptos, Huobi to Stop Servicing Chinese Users, and Experts Worry About the U.S.
- Key Events from the Summit 2021
- Robert Kiyosaki Predicts , Gold Crash, Hints at a Safe-Haven
- Slovenia to Become First Country to Launch NFTs
China Drops the Bomb on Cryptos, Huobi to Stop Servicing Chinese Users, and Experts Worry About the U.S.
China’s bad touch on cryptocurrencies may have gotten worse. This time, it was a blanket ban on cryptocurrencies. The People’s Bank of China declared crypto activities illegal, including those from crypto exchanges outside mainland china.
Offering trading of digital assets, order matching, token issuance, and derivatives are now considered illegal activities in China. In addition, the provision of crypto services by overseas crypto exchanges are also regarded as illegal.
In compliance with China’s regulatory stance, leading crypto exchange Huobi on September 24, stopped allowing Chinese residents to register on its platform. In a subsequent announcement, the exchange noted that it will gradually retire existing Mainland China user accounts by December 31, 2021.
Binance, the world’s largest crypto exchange, has also placed restrictions on China. As a result, the Binance app is also no longer available for download in China, and users can no longer register with Chinese mobile numbers.
Flipsider:
- With regulatory pressure in China at an all-time high, experts have expressed concerns about how the United States may react. With the U.S. being one of the top adopters of cryptos, there are concerns that a similar stance could lead to a market crash.
Why You Should Care
While China’s bad touch has affected the crypto market, the dominance and effect China has on the crypto market continue to fall, opening room for other countries to play an important role in the growth of the industry.
Key Events from the Cardano Summit 2021
2021 has been an incredible year for Cardano, with the climax being the Cardano 2021 summit, its biggest event to date. The summit was held in Wyoming.
At the event, Cardano announced a partnership with Chainlink, which will see the integration of Chainlink oracles on the Cardano blockchain. Following a successful integration, developers will be able to build smart contracts on the Cardano network.
Charles Hoskinson explained at the event that Cardano is trying to “position itself in the marketplace of ideas to be a legitimate option” for governmental institutions. Cardano is pursuing this initiative because “people are fundamentally unhappy with governance.”
Hoskinson also announced a partnership between Cardano and DISH Network (NASDAQ:), a fortune-500 American television satellite provider. In addition, it was revealed that the COTI development team would be issuing Djed, a new stablecoin for the Cardano Network.
Flipsider:
- In addition, the commercial arm of Cardano, Emugro, has announced a $100 million investment in DeFi, NFTs, and blockchain education to commence in 2022.
Why You Should Care
Since Alonzo launched, Cardano has become one of the most promising projects. Going by the events from the Cardano Summit, it is safe to say things could get better for Cardano.
Robert Kiyosaki Predicts Bitcoin Crash, Hints at A Safe-Haven
Renowned author, investor and founder of Rich Global LLC and Rich Dad Company, Robert Kiyosaki, has predicted a “giant stock market crash” this October. According to Kiyosaki, Bitcoin could well be among the assets to crash.
Kiyosaki, who is known to prefer stocks, real estate, and metals as a store of value over fiat currencies due to their rampant inflation, has called on people to invest in cryptocurrencies.
According to the multimillionaire businessman and author, following China’s crackdown on cryptocurrencies, governments like the United States could follow in launching a CBDC, or Fed coins.
When these assets are launched by governments, Bitcoin could become outlawed. This centralization will ultimately lead to the crash of Bitcoin. Kiyosaki wrote on Twitter (NYSE:);
Giant stock market crash coming October. Why? Treasury and Fed short of T-bills. Gold,silver, Bitcoin may crash too. Cash best for picking up bargains after crash. Not selling gold silver Bitcoin, yet have lots of cash for life after stock market crash. Stocks dangerous. Careful
— therealkiyosaki (@theRealKiyosaki) September 26, 2021
Flipsider:
- While the author has predicted a Bitcoin crash, he has turned his attention to its greatest rival, Etherium, considering it a safe-haven
Why You Should Care
Bitcoin has come out stronger after several tests, even the recent Evergrande crash. With China already in advanced stages of testing the digital yuan, it remains to be seen how Bitcoin will react to its launch.
Slovenia to Become First Country to Launch NFTs
Slovenia is on course to become the first country to issue its own non-fungible tokens (NFT). The European country will be using the initiative to promote the achievements of its businesses and its tourism destinations.
The NFTs will be gifted to visitors to Slovenia’s pavilion at the EXPO DUBAI 2020, which opens on October 1, 2021. In addition, the United Arab Emirates have taken a friendly stance towards crypto.
On September 22, the Dubai World Trade Centre Authority (DWTCA) announced that it had signed an agreement with the UAE’s Securities and Commodities Authority (SCA) to support the regulation and trading of crypto assets within the DWTCA free zone.
Flipsider:
- While Dubai has taken a more friendly approach towards crypto regulation, China has banned crypto transactions within its borders
Why You Should Care
The use of non-fungible tokens is increasing by the day, and as Slovenian State Secretary, Simon Zajc, puts it, NFTs would provide an opportunity for the development of digital competencies of individuals and companies.
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Dogecoin fell by 1.63% on Sunday. Following a 0.38% decline on Saturday, Dogecoin ended the week down by 11.98% to $0.2051.
A mixed start to the day saw Dogecoin rise to an early morning intraday high $0.2090 before hitting reverse.
Falling short of the first major resistance level at $0.2126, Dogecoin slid to a late morning intraday low $0.1942.
Dogecoin fell through the first major support level at $0.2044 and the second major support level at $0.2004.
Steering clear of the third major support level at $0.1922, Dogecoin revisited $0.208 levels before falling back into the red. In spite of the late pullback Dogecoin avoided the major support levels.
At the time of writing, Dogecoin was up by 0.39% to $0.2059. A mixed start to the day saw Dogecoin fall to an early morning low $0.2033 before rising to a high $0.2061.
Dogecoin left the major support and resistance levels untested early on.
For the day ahead
Dogecoin would need to avoid the $0.2028 pivot to bring the first major resistance level at $0.2113 into play.
Support from the broader market would be needed, however, for Dogecoin to break out from Sunday’s high $0.2090.
Barring an extended crypto rally, the first major resistance level would likely cap the upside
In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.22 levels before any pullback. The second major resistance level sits at $0.2176.
A fall through $0.2028 pivot would bring the first major support level at $0.1965 into play.
Barring another extended sell-off, however, Dogecoin should avoid sub-$0.19 levels. The second major support level sits at $0.1880.
Looking at the Technical Indicators
First Major Support Level: $0.1965
Pivot Level: $0.2028
First Major Resistance Level: $0.2113
23.6% FIB Retracement Level: $0.3016
38.2% FIB Retracement Level: $0.3859
62% FIB Retracement Level: $0.5221
Please let us know what you think in the comments below.
Thanks, Bob
Crypto Flipsider News – August 27th – Ethereum, Solana, Chainlink, The US Air Force, Cardano, Microsoft, Royal Music NFT- Market Updates: , Solana, Chainlink, VeChain.
- Governmental news: the U.S. Air Force, Cuba, South Korea.
- Updates: Ethereum converter and bug bounty program.
- Microsoft (NASDAQ:) and new services to create crypto tokens.
- Royal, an NFT music marketplace backed by Paradigm.
Market Updates: Ethereum, Solana, Chainlink, VeChain
- Ethereum burnings reached a new milestone of 100,000 ETH, which is more than $312 million.
- The NFT boom has sent Ethereum gas prices to their highest level in the last 14 weeks.
- Solana became the biggest gainer of the last 24h after it gained 25% in its value, reaching a new all-time-high of $83.73.
- Chainlink lost support at $25. Bulls predict a clear path to $40 in the long term.
- VeChain has created a new blockchain initiative aimed at carbon emissions data tracking.
Flipsider:
- It’s an Interesting situation when every market is faced with small corrections, except for one coin: Solana. Of course, the surge has some tangible reasons. However, isn’t that always the case when proof-of-history makes history?
Governmental news: The U.S. Air Force, Cuba, South Korea
The United States Air Force (USAF) has made a deal with the Constellation Network. The collaboration allows the development of a secure data exchange system that could be used to securely share data throughout the U.S. Defence infrastructure. Constellation says it’s “a massive shift in the utility of blockchain technology for something as prolific and complicated as data.”
Cuba will start to regulate cryptocurrencies for payments made in the country. The rules will be set out at a later date by the country’s Central Bank. Crypto usage grew notably in Cuba following the economic sanctions imposed by former President Trump.
South Korea’s financial intelligence unit (KFIU) has set up a separate division to monitor suspicious crypto transactions, strengthen the supervision of operators, and detect possible money laundering cases. The bureau comes into force in September. Crypto exchanges that fail to register with KFIU, and do not require real-name registration, will not receive permissions to operate.
Flipsider:
- Blockchain networks reduce the probability of data compromise, making it much more difficult for malicious attackers. Here’s the bad part: their adversaries will use blockchain to their advantage as well. This complicates the work of law enforcement and intelligence agencies.
Cardano Updates: The Ethereum Converter and Bug Bounty Program
Some time ago, Cardano was referred to as a project with a “slow and steady wins the race” approach by DailyCoin. Impressively enough, it seems the team is progressing from this strategy. Cardano is no longer humble, so we receive more news, such as the following, about the project almost every day.
The announcements were delivered at the annual Cardano360 online conference. First of all, the highly anticipated Ethereum converter will be launched on the network’s testnet during the next week. This bridge will allow ERC-20 tokens to be natively issued on the Cardano network. Moreover, this means that proof-of-work tokens can easily be swapped to the proof-of-stake blockchain.
Cardano also announced a bug bounty program on their official blog. As the ecosystem continues to grow exponentially, protocol security has become an increasingly important question. Thus, the Cardano Foundation has partnered with HackerOne, one of the biggest hacker powered security platforms, for a bounty hunt. For those looking to measure their abilities, and those who want a shot at the bounty, check the program out here.
Flipsider:
- Yes, Cardano needs to keep up with the requirements of being in the top 3 cryptos. Community demands are high expectations and high pressure. On the other hand, Charles Hoskinson still needs to take some “hype lessons” from Vitalik Buterin, Elon Musk, and Justin Sun.
Microsoft and New Services to Create Crypto Tokens
Microsoft has been awarded a U.S. patent for software.
Software that is the ledger for, and will function as, a blockchain, but will not actually be a blockchain.
Overall, the ledger will help users to develop blockchain applications and create crypto tokens for different distributed ledgers, making the whole process easier and more efficient.
Currently, creating and managing tokens is complex due to the lack of standardization across different blockchains.
Microsoft’s patent, and a ledger-independent system, allows users to create tokens and manage them across different networks.
After a user’s request is received, the system offers templates with various features and control functions.
The system also provides a common interface for managing the tokens, which means developers won’t have to stress about knowing token-specific code to interact with them.
Flipsider:
- The patent’s approval is a huge step in the right direction for the company, as no large company wants to be left behind.
- The launch of this service has not yet been officially announced, but the prospective project will allow Microsoft to retain its millions of users around the world as crypto goes mainstream.
Royal, an NFT Music Marketplace Backed by Paradigm
Founders Fund and Paradigm backed Royal, is a music marketplace planning to sell song rights as NFTs.
3LAU announced the launch of the Royal Music Investment Platform with $16 million seed funding led by Peter Thiel’s Founders Fund, and Paradigm, a crypto-focused investment.
The companies are leading investment in the platform which seeks to connect music rights with NFTs.
This would allow users to buy shares of songs through the company’s marketplace and earn royalties as the music they’ve invested in becomes more popular.
Flipsider:
- All music news is likewise music to ears. It is both productive and plausible to combine song rights with NFTs. While visual artists popping their digital work on the blockchain have seen a number of platforms rise and mature, there have been fewer efforts focused around musicians. It is about the time for music to flourish in the space!
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