Bitcoin (BTC) Price Bullish Trend Still Valid: Trader

News
Fri, 06/12/2020 - 14:34
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Vladislav Sopov
While Bitcoin (BTC) slowly recovers from its painful 8.6% price drop after its latest attempt to break into five-digit zones, traders are guessing its next move
Bitcoin (BTC) Price Bullish Trend Still Valid: Trader
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Anonymous trader and analyst Jack Sparrow (@BTC_JackSparrow) has posted an update of his short-term prediction of Bitcoin (BTC) price dynamics. Despite things not looking splendid for bulls, they shouldn't surrender, the analyst says.

Seeking shorts? No conditions have been met!

Mr. Jack Sparrow updates his charts daily, adjusting the predictions according to up-to-date price trend swings. One week ago shortly after the 'Bart Simpson' fake rally above $10,000, he warned that bulls should avoid being engulfed by bears as the price returned to the $9,500 level.

Trader Jack Sparrow stays bullish
Image via Twitter

This prediction has come true: bears failed to gain control over the Bitcoin (BTC) price but applied increased pressure on it. That led to the next stage of the correction. At press time, Bitcoin (BTC) is trading above $9,500 on major spot exchanges.

As Mr. Jack Sparrow analyzes the one-day timeframes, the current one is green. So, he believes that Bitcoin (BTC) traders should neither close their longs nor start seeking shorts.

Bulls control Bitcoin (BTC) over $9,460
Image via Twitter

The U.Today Crypto News team once again reminds you that we highly recommend treating the predictions of anonymous traders with extreme caution. Always do your own research or contact a certified investment analyst.

Bullish trend still in power

Seasoned trader and analyst Michael van de Poppe believes in a similar evaluation for the mid-term trend for the Ethereum (ETH) price. He highlighted that dangerous waters for Ethereum (ETH) bulls start only between $210 and $220.

Otherwise, the Ethereum (ETH) price is just finishing its correction before another explosive upmove to new yearly highs above $300.

However, prominent cryptocurrency expert Tone Vays isn't so optimistic about Bitcoin's (BTC) mid-term future.

As covered by U.Today, Mr. Vays, a vocal Bitcoin (BTC) maximalist won't be surprised if the flagship cryptocurrency revisits $7,000 this summer.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

News
Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
Cover image via stock.adobe.com
Contents

While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)