Bitcoin (BTC) Price’s Two Possible Moves Indicated by Seasoned Trader

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Sat, 06/06/2020 - 15:03
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Vladislav Sopov
Famous cryptocurrencies trader, analyst, and educationist Crypto Birb indicated two possible moves for the price of Bitcoin (BTC) in a one-day timeframe.
Bitcoin (BTC) Price’s Two Possible Moves Indicated by Seasoned Trader
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Crypto Birb, Founder of The Birb Nest trading community, unveiled a 1D Bitcoin (BTC) price chart with two possible behaviors. He also showed the conditions of the two scenarios and their most reasonable targets.

All Eyes on 50-Day MA

According to the analyst, the price level of 50-day moving average (50-day MA) is a crucial hold the bulls. If the price of Bitcoin (BTC) breaks below this line, an additional drop to $7,518 looks inevitable.

$7,518 is the most natural level of support below 50MA for Bitcoin (BTC) price
Image via Twitter

A declining Bitcoin (BTC) price, which is on its way to $7,518, may also find a support near $9,000 and then near $8,500. Reaching this dramatic level would indicate the start of new upswing.

However, if the bulls manage to make the price of Bitcoin (BTC) break the upper border of ascending channel near $10,500, BTC could reach yearly high above $12,000 in early July.

The $11,000 level is the level of bearish resistance, which would not be conquered easily by an aggression of buyers.

Flat After 'Bart Simpson' Rally

Right now, the price of Bitcoin (BTC) is trying to break out of the Ascending Triangle that evolved between the $9,600 and $9,800 levels. Market sentiment is mostly moderately bullish.

Alternative's Crypto Fear and Greed Index sits at 54 points ('Neutral Zone'). The fake rally of June 1, 2020 failed to stop its upswing.

As previously reported by U.Today, Bitcoin (BTC) surged almost 8.6% on June 1st, 2020, but a massive sell-off on the spot exchanges half a day later completely erased these gains.

At press time, the price of Bitcoin (BTC) changed hands at $9,660 on the major spot cryptocurrency exchange platforms.

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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

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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
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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.)