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Bitcoin plunged almost nine per cent on Monday to its lowest in six months as fears of a Russian attack on Ukraine saw riskier assets worldwide extend their sell-off

Representations of cryptocurrency Bitcoin are seen in this picture illustration taken June 7, 2021.

REUTERS/Edgar Su/Illustration By Staff Writer, Khaleej Times

The cryptocurrency market saw up to $130 billion wiped off its value over the last 24 hours as major digital coins continued their multi-day sell-off.

Bitcoin plunged almost nine per cent on Monday to its lowest in six months as fears of a Russian attack on Ukraine saw riskier assets worldwide extend their sell-off.

The largest cryptocurrency was trading down 8.8 per cent at $33,058, its lowest since July 23, taking losses from its all-time high of $69,000 hit in November past 50 per cent.

Ether plunged seven per cent to $2,239.08, its lowest level since late July, and Binance Coin, the fourth-biggest token that is issued by the eponymous crypto exchange, was down 12 per cent, according to Coin Metrics.

The movements in cryptocurrencies follow those of stocks, which have continued to fall since the beginning of the year and just came off of their worst week since March 2020.

Investors have been selling risk assets like technology stocks as they prepare for tighter monetary policy from the US Federal Reserve and higher interest rates.

Over $1 trillion has been wiped from the aggregate crypto market's value since November's highs turned into deep sighs.

“Bitcoin will face headwinds going back up until the macroeconomic conditions change,” said Mark Elenowitz, president of Horizon, a firm that services securities exchanges.

“Generally speaking, when rates are hiked, we could see more sell-offs of seemingly risk-on assets like Bitcoin.”

Vijay Ayyar, an analyst, said that if Bitcoin holds above $30,000 on a longer time frame such as one week, then there could be a base formed at those levels before the market moves higher. It could be some time for the market to turn bullish given the lack of confidence across the spectrum.

Some analysts see $30,000 as the next level of support for the cryptocurrency to test. However, analyst John Roque of 22V Research said bitcoin could fall even further. He said he too has been using $30,000 as a target but noted that the median historical bear market for bitcoin is down 78 per cent.

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As the crypto market cap steadily climbed up, on the back of 8% Bitcoin gains over the last day, large-cap altcoins like Ethereum, Binance Coin (BNB), Solana, and XRP noted decent price upticks. The top gainer in the top 20 coins by market cap was Cosmos (ATOM) which noted close to 19.72% daily gains at press time.

ATOM Price Analysis

Bitcoin’s move above the $35K mark came as a much-needed breather as BTC finally oscillated at $36,389.42 at press time, noting 7.79% daily gains.

The market turned green on the back of the recent BTC gains, and the global crypto market cap stood at $1.64 trillion, noting a 6.76% increase over the last day. Of the top 20 coins, ATOM had the highest gains and traded at $35.69 at press time.

ATOM’s rise in price was accompanied by a healthy spike in trade volumes, which presented a rising retail interest in the coin as the market presented signs of recovery. Over the last three days, ATOM pumped by almost 25%, and the rising Relative Strength Index highlighted a rise in buyers in the market.

Strong Fundamentals Supporting Growth

In the last week, the release of the first Cosmos ETP by 21Shares on Switzerland’s SIX Exchange sparked positive commentary about the coin.

Additionally, strong fundamental factors supported price surge alongside the upcoming airdrops and a bridge implementation between Cosmos and Polkadot.

According to a recent blog post by Cosmos, a Cosmos and Astar (Polkadot) bridge is set to be delivered in Q1, 2022. Astar Network has already implemented a testnet bridge with Secret Network, a Cosmos SDK-based blockchain. However, this testnet bridge is EVM-based, meaning that only blockchains supporting both EVM and Cosmos SDK are compatible with this testnet bridge.

That said, according to market experts, the upcoming launch of EVMOS has further sparked interest in the Cosmos blockchain.

At the time of writing, ATOM reaped a yearly ROI vs USD of +368.26 even though its short-term ROI (weekly ROI) was -5.28%. Despite the recent uptick in price, ATOM was still down 20.34% from its all-time high price of $44.36.

This article was originally posted on FX Empire

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Singapore — Singapore-based Chinese influencer and Instagram model Yuqing Irene Zhao listed her non-fungible token’s (NFT), garnering purchases from prominent individuals like Galaxy Digital CEO Mike Novogratz and giving her millions within days.

An NFT is unique digital data such as a drawing, Tweet, meme, music, or game character that can’t be replaced with something else. The owner of an NFT can then trade or sell the unit of data on digital markets.

More people are jumping into the NFT marketplace, raking in millions for lucky sellers.

NFTs are purchased, traded and sold through cryptocurrency, mostly Ethereum, before withdrawing in real currency.

For Zhao, it’s her IreneDAO collection currently listed on Opensea, a peer-to-peer marketplace for NFTs, rare digital items and crypto collectables.

Her listing description on Opensea notes, “IreneDAO is a global grassroots movement aimed at disrupting the creator economy. IreneDAO is for the people, by the people. Our core values are: Sincerity, Integrity, Meaning, and Purpose.”

Zhao’s collection consists of over a thousand items, showcasing images of her and meme slang phrases such as “Damp It,” “Up Only,” “Simp” or “Wen Moon.”

The cheapest NFT of “Have Fun Staying Poor” costs 0.94 Ethereum or about S$3,000.

In total, Zhao’s collection already has a trading volume of 2,300 Ethereum, which is equivalent to approximately S$7.5 million.

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Zhao distributed her crypto memes with a free mint, allowing digital art to become a part of the Ethereum blockchain. It is then unchangeable and tamper-proof, much like how metal coins are minted before being added into circulation.

Reports noted that Zhao’s endeavours began with her selling the images as a sticker pack on Telegram. A fan then advised her to turn the collection into NFTs.

The history behind her NFT collection

For those still confused, Zhao created a Twitter thread on Jan 20 to explain why her IreneDAO collection is “not a fluke” or “Asian Fetish.”

She explained that she had been an Instagram influencer since her university days and acquired over 300,000 followers on the platform. However, this follower base was not enough.

“In order to make anything out of my posts, I need to take on product placements and paid advertisements. I came to a point where every other day, I am posting paid content. Why? I have no choice. That’s how I feed myself,” she said.

– Advertisement 3-

She then explained that NFT is the medium that makes the new Web3.0 (new iteration of the World Wide Web based on blockchain) economy possible, as it makes the “users the owners.”

Here’s why @0xIreneDao is not a fluke or as some may have it, an Asian Fetish. They are missing the real deal. Something bigger underlies the concept that is behind the IreneDao.

👇🏻🧵 Here’s the story:

— Irene Zhao (@Irenezhao_) January 20, 2022

YouTuber Logan Paul and Galaxy Digital CEO Mike Novogratz are among those that purchased IreneDAO NFTs.

Mr Novogratz tweeted he was a “proud member of team Irene Zhao,” while Logan Paul is said to have purchased 20 NFTs from Zhao’s collection for over S$360,000. /TISG

Yes we are!! Proud member of team @Irenezhao_ I love the hustle. This young woman has created her own brand in less than a year. And NFT’s allows her to pull her community together. pic.twitter.com/iZiAqXj1iX

— Mike Novogratz (@novogratz) January 16, 2022

Read related: Woman made $50,000 selling her farts in a jar before ‘gassing out’ and ending up in hospital

Woman made $50,000 selling her farts in a jar before ‘gassing out’ and ending up in hospital

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Bitcoin (BTC) set its all-time intraday high of 68,999.99 on November 10, 2021. This day was a key reversal day as its close that day at 64,268.40 was below the low of 66,106.95 set on November 9. This began the slide we have seen since then.

When I wrote Bitcoin Rally Reaches Its Risky Level For October I was looking for downside risk. The risky level for October 2021 was 57,814.

For the first quarter of 2022 my risky level is 56,153. So far this year through January 24 my annual value level at 33,021 held. The upside is a return to the 200-day simple moving average at 48,697.

The Daily Chart for Bitcoin

Bitcoin was in a golden cross formation 52 weeks ago. The vertical lines are each trading day during this time horizon. The first wave high was to 64,899 set on April 14, 2021. The downside from this high was to 28,800 set on June 22.

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From this low bitcoin rallied to its all-time intraday high of 69,000. You can see that this day was a key reversal. The day’s close was clearly below the prior day’s low. Note the failed death cross and then the failed golden cross. When this happened odds favored a trading-range market which has been the case.

The horizontal lines in the middle of the chart are the semiannual and annual value levels at 28,763 and 33,021, respectively, and this higher level held at the low so far.

A death cross occurred on January 15 when the 50-day simple moving average fell below the 200-day simple moving average. The higher horizontal line is the quarterly risky level at 56,153.

The Weekly Chart for Bitcoin

The weekly chart for bitcoin is negative but oversold. It’s below its five-week modified moving average at 43,944. It’s well above its 200-week simple moving average or reversion to the mean at 19,326. The last time the 200-week SMA was tested was during the week of March 22, 2020, at 5,569.

The 12x3x3 weekly slow stochastic level is declining at 15.19, which makes bitcoin oversold. The reading below 20.00 on a scale of 00.00 to 100.00 makes bitcoin “too cheap to ignore.”

Trading Strategy: Buy bitcoin on weakness to its annual and semiannual value levels at 33,021 and 28,763, respectively. Reduce holdings on strength to the quarterly risky level at 56,153.

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The market-leading cryptocurrency Bitcoin (CRYPTO: BTC) has taken an average of 64 days to recover from every major price crash, excluding bear markets.

What Happened: According to an analysis of historical price data from InvestAnswers, Bitcoin has lost around 57% of its value during every major correction. When factoring out bear markets, the digital asset recovered in 64 days. 

When including three-year bear markets, the average time for Bitcoin to recover was 257 days.

Historical data also shows that the average duration of a correction is 87 days. Seeing as it has been 70 days since Bitcoin began its decline from a peak price near $69,000, market participants may have reason to believe that the end of negative price action for Bitcoin may be fast approaching.

It is also worth noting that the average gain after a Bitcoin correction stands at 362%.

“Will we get back to where we were 70 days ago — $68,800? Yes, we will. I just don’t know when, but it could be soon because historically, the rebound happens within 64 days. These are just numbers. History. I know things are a lot longer now. Cycles are longer, but also markets fall and crash much faster than ever before too,” said InvestAnswers host James Mullarney.

Price Action: Bitcoin was trading at $36,500, up 8.45% in the last 24 hours. The leading digital asset had a daily trading volume of $44.3 billion.

Ethereum (CRYPTO: ETH) was trading at $2,400, gaining 7.66% over the same period.

Several altcoins like Avalanche (CRYPTO: AVAX), Polkadot (CRYPTO: DOT) and Solana (CRYPTO: SOL) also posted significant recoveries, gaining more than 10% in the last day.

Large-cap meme-based cryptocurrencies like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) were up by 5% and 6% respectively over the last day.

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CryptocurrencyNewsMarketsMediaLicenseRelated Articles Total Value On Fantom Blockchain Surges 65% In 2 Weeks To $12B, Surpassing Ethereum's Daily Transactions The Total Value Locked (TVL) on the Fantom (CRYPTO: FTM) blockchain has now surpassed $12 billion. read more Cryptocurrency Avalanche Down More Than 15% Within 24 hours Over the past 24 hours, Avalanche's (CRYPTO: AVAX) price has fallen 15.06% to $73.41. This continues its negative trend over the past week where it has experienced a 19.0% loss, moving from $90.27 to its current price. read more Cryptocurrency Avalanche Down More Than 6% Within 24 hours Avalanche's (CRYPTO: AVAX) price has decreased 6.66% over the past 24 hours to $87.16. This is contrary to the coins performance over the past week where it has experienced an up-trend of 3.0%, moving from $84.46 to its current price. read more Cryptocurrency Avalanche Down More Than 5% Within 24 hours Avalanche's (CRYPTO: AVAX) price has decreased 5.51% over the past 24 hours to $91.35, continuing its downward trend over the past week of -2.0%, moving from $90.64 to its current price. read more

12:16 Tue 25 Jan 2022

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read more >viewProactive Australia(ASX:.)Crypto plunges as US Fed reviews potential Central Bank Digital Currency

Bitcoin, the world’s largest cryptoasset, began the week trading above $42,000 but began falling heavily on Thursday as bond yields in major economies spiked. It is now trading just under the $35,000 level.

Welcome to the first of our weekly crypto updates with eToro market analyst Simon Peters.

Each week, Peters will assess what is happening in the crypto, blockchain and NFT spaces and, when relevant, what the news means for investors.

Cryptoassets plunge

The cryptoasset market has plunged amid a wider global sell off in growth and tech assets.

Bitcoin (BTC) is now trading at its lowest level since July 2020 and has fallen some 50% from its all-time high (ATH) above $69,000 which it reached in November 2021. 

The world’s largest cryptoasset began the week trading above $42,000 but began falling heavily on Thursday as bond yields in major economies spiked. It is now trading just under the $35,000 level.

Likewise, Ether is now trading around similar levels to July 2020 and has lost some 50% of its value since ATH in November. The cryptoasset began the week above $3,200 but has traded down severely to just under $2,400 now. 

Fed launches CBDC review

The US Federal Reserve has launched a review of a potential Central Bank Digital Currency (CBDC).

The Fed launched a discussion paper looking at the pros and cons of a potential US CBDC. It is now asking for respondents to comment on how the CBDC could improve US domestic payments systems. 

Fed chair Jerome Powell commented: "We look forward to engaging with the public, elected representatives and a broad range of stakeholders as we examine the positives and negatives of a central bank digital currency in the United States."

The Fed wants to look at key issues such as preserving monetary and financial stability within a digital system, how to complement existing payment systems and the privacy of citizens while still retaining the ability to police illegal financial activities.

This announcement is a major step as the US is the largest economy in the world, which would have the potential to transform global finance with the adoption of a CBDC. But it is behind other nations in terms of research, planning and execution of a digital currency.

Twitter launches NFT profile pictures 

Social media network Twitter has launched NFT profile photos for users.

The feature will be instantly recognisable for anyone with an NFT profile picture as instead of a typical round profile photo, the picture frame will instead be hexagonal.

Twitter’s NFT launch will support crypto wallets including Argent, Coinbase Wallet, Ledger Live, MetaMask, Rainbow and Trust Wallet.

To use the feature, users will have to be using an iOS phone and be signed up for the $2.99 Twitter Blue subscription. Twitter Blue offers premium features to customers, including now NFTs and others such as undo tweets.

The premium subscription is still being rolled out and is currently only available in the US, Canada, Australia and New Zealand.

Intel to enter BTC mining 

Computer chipmaker Intel is set to unveil a chip to mine bitcoin.

The so-called ‘Bonanza Mine’ chip will be launched at the International Solid-State Circuits Conference (ISSCC) which begins on February 20. 

This announcement does not mean, however, that Intel will begin mining BTC itself - rather it is now going to produce technology to facilitate mining. 

The firm’s current biggest rival in this market is Bitmain. Demand exists for bitcoin-specific mining chips as normal graphics processing units (GPUs) are not designed to solve complex hashes and as such mine BTC very inefficiently, in both terms of time and energy spent.

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Ethereum Price Prediction – January 25

In the early hours of today, the Ethereum price prediction shows that ETH touches the support level of $2351.

ETH/USD Market

Key Levels:

Resistance levels: $2900, $3100, $3300

Support levels: $2000, $1800, $1600

Buy Ethereum Now

At the time of writing this, the market is falling as ETH/USD recovers from the low of $2351 support level. Looking at the daily chart, this decline is largely attributed to the fact that the Ethereum price may be ready for more downsides. However, ETH/USD remains below the 9-day and 21-day moving averages, but it can move higher if the bulls hold the current market value and push the market to the north. Therefore, if ETH/USD continue to fall and drops beneath the support level of $2200, the coin may remain bearish.

Ethereum Price Prediction: Ethereum (ETH) May Fight to Maintain $2500 Level

According to the daily chart, if the sellers continue to add downward pressure to the Ethereum price, initial support may be expected at $2300. Beneath this, support can then be found at $2000, $1800, and $1600. On the other hand, if the bulls can defend the $2400 level and allow ETH to rebound, an initial resistance is located at $2600. Above this, additional resistance could be located at $2900, $3100, and $3300.

More so, the technical indicator Relative Strength Index (14) is still within the oversold zone showing that the previous bearish momentum may begin to fade. If the technical indicator manages to move out of this region, then the bulls could stand a chance to allow Ethereum to rebound at $2400. However, if it penetrates beneath, the coin may resume a downward spiral.

Against Bitcoin, the market price stays below the 9-day and 21-day moving averages as the coin heads to the south. ETH/BTC is currently trading at the level of 6653 SAT and the bulls couldn’t push the price above the moving averages. Looking at the chart, if the market drops below the lower boundary of the channel, the next key support may likely come at 6000 SAT and below.

Considering the upside, a possible bullish movement may push the market above the 9-day moving average, when this is done, the resistance level of 7400 SAT and above may be visited. The technical indicator Relative Strength Index (14) is moving in the same direction within the oversold region and this indicates an indecisive in the market movement.

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How to buy EthereumHow to buy CryptocurrencyAzeez MustaphaPRO INVESTORauthor

Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.

View all posts by Azeez Mustapha Bitcoin Cash Price Prediction: BCH/USD Crashes Below $300Azeez Mustapha&bulletUpdated: Updated:&bulletUpdated:

Bitcoin Cash Price Prediction – January 25 The Bitcoin Cash price may extend the ...

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Shiba Inu (CRYPTO: SHIB) was trading slightly higher Tuesday after announcing it would be entering into the metaverse with an immersive experience — presumably centered around an animated Shiba Inu dog character.

Later in the afternoon, the crypto announced it would be revealing the name of its metaverse over the coming days. The project was given the code name Shiberse.

The crypto had been in a long-term downtrend, tumbling about 80% from the Oct. 28 all-time high of $0.00008894 to a low of $0.00001700 on Jan. 22.

The latter area may have marked the bottom for Shiba Inu. Since that date, the crypto has reversed into an uptrend, which was confirmed with a higher low on Monday.

See Also: How to Buy Shiba Inu Coin

The Shiba Inu Chart: Shiba Inu’s most recent high was printed Sunday at the $0.00002370 mark. If the crypto is set to continue in the uptrend, it will need to pop up above that level to print a higher high over the next day or two.

If the Shiba Inu is able to rise above that level, it will regain support at the eight-day exponential moving average (EMA), which would turn near-term sentiment bullish. The crypto would then need to regain support at the 21-day EMA to force the eight-day EMA to rise up and cross above the 21-day.Tuesday’s price action has formed the crypto into an inside bar on the daily chart, which leans bullish because Shiba Inu was trading higher before printing the pattern. Traders can watch for a break either up or down from Monday’s mother bar to gauge future direction.Shiba Inu’s relative strength index (RSI) indicates the crypto could see at least a bounce because it is measuring at about 31%, which is near oversold territory.The crypto has resistance above at $0.00002333 and $0.00002958 and support below at $0.00001734 and $0.00001349.

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CryptocurrencyTechnicalsMarketsTrading IdeasLicenseRelated Articles McDonald's Responds To Elon Musk: We Will Accept Dogecoin If Tesla Accepts This Cryptocurrency Fast-food chain McDonald’s Corp. (NYSE: MCD) said it will accept Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk’s read more This Play-To-Earn Coin Named After Elon Musk's Pet 'Floki' Is up Over 560% Today Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) have rebounded along with several other major cryptocurrencies as of Tuesday evening. read more Bitcoin Took This Long To Recover From Every Major Crash The market-leading cryptocurrency Bitcoin (CRYPTO: BTC) has taken an average of 64 days to recover from every major price crash, excluding bear markets. read more Elon Musk Says He'll Eat A Happy Meal On TV If McDonald's Accepts Dogecoin: Is There Something Cooking? Elon Musk has done it again. With his Dogecoin (CRYPTO: DOGE) chatter, the Tesla, Inc. (NASDAQ: TSLA) CEO sent the meme currency spiking on Tuesday. read more

Dogecoin (CRYPTO: DOGE) was bouncing up slightly from its $0.1272 low-of-day by late afternoon on Monday, as the crypto was trading at $0.1376 up a slight 0.04% over Sunday’s closing price.

The bounce up was in tandem with apex cryptocurrencies Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which were popping up from their lows due to a relief bounce in the general markets that saw the SPDR S&P 500 (NYSE:SPY) close up about 4.5% from its low-of-day price.

While the general markets may see a massive ramp higher on Tuesday, Dogecoin’s bounce, however, may be the crypto settling into a bear flag pattern on the daily chart. If that pattern is recognized, the crypto could retrace under 10 cents.

See Also: Crypto Crash Making You Sweat? 'NFT Kingpin' And Dogecoin Aficionado Snoop Dogg Has Some Advice For You

The Dogecoin Chart: Dogecoin’s possible bear flag was created between Jan. 16 and Monday, with the pole printed between that date and Jan. 22 and the flag formed on the days that have followed.

The measured move of the pattern is about 34%, which indicates Dogecoin could fall toward $0.094.The crypto is trading in a downtrend trajectory, with the most recent lower high printed on Saturday at the $0.144 mark and the most recent lower low created on Sunday at $0.135. If the trend continues, Dogecoin is likely to print another lower low over the coming days.In order to negate the bear flag, Dogecoin will have to reclaim the eight-day exponential moving average on the daily chart.There is resistance above at 16 cents and the $0.176 mark, and support below at $0.135 and the 12 cent area.

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Photo: Courtesy of CryptoWallet.com Images on Flickr

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CryptocurrencyTechnicalsMarketsMoversTrading IdeasLicenseRelated Articles Bitcoin Took This Long To Recover From Every Major Crash The market-leading cryptocurrency Bitcoin (CRYPTO: BTC) has taken an average of 64 days to recover from every major price crash, excluding bear markets. read more Cryptocurrency Bitcoin Rises More Than 7% In 24 hours Over the past 24 hours, Bitcoin's (CRYPTO: BTC) price has risen 7.68% to $36,391.00. This is contrary to its negative trend over the past week where it has experienced a 12.0% loss, moving from $41,356.61 to its current price. As it stands right now, the coin's all-time high is $69,045.00. read more Elon Musk Says He'll Eat A Happy Meal On TV If McDonald's Accepts Dogecoin: Is There Something Cooking? Elon Musk has done it again. With his Dogecoin (CRYPTO: DOGE) chatter, the Tesla, Inc. (NASDAQ: TSLA) CEO sent the meme currency spiking on Tuesday. read more Meet Escobar Inc: Firm Previously Known For Smartphone Scam Launches 'Physical Crypto' Escobar Inc. has developed a hybrid cryptocurrency that’s not yet listed on any exchange. The cryptocurrency is called Escobar Cash (CRYPTO: ECH), which is a Ripple (CRYPTO: XRP) hard fork. read more

Dogecoin (CRYPTO: DOGE) is trading higher Tuesday as it tries to start bouncing back after the crypto market was trading in a bearish market the past couple of weeks. The crypto market is seeing a green day with most cryptocurrencies bouncing back after the severe drop the past few days. If Dogecoin can cross back above a key price level, it might start heading back toward the next resistance level.

Dogecoin was up 5.93% at $0.1429 at publication Tuesday afternoon.

See Related: Dogecoin Must Regain This Key Level To Avoid Collapsing Under 10 Cents

Dogecoin Daily Chart AnalysisDogecoin cracked below the $0.15 support line and is trading sideways just below the level. The crypto has formed higher lows throughout the past few days. If this continues and the price crosses back above the $0.15 cent level, it could begin to trend higher back toward the $0.35 resistance level.The crypto trades below both the 50-day moving average (green) and the 200-day moving average (blue), indicating the crypto is seeing recent bearish sentiment. Each of these moving averages may hold as an area of resistance in the future.The Relative Strength Index (RSI) has been bouncing back the past few days and now sits at 40. This shows buyers have been moving back into the crypto. If the RSI can cross back above the middle line, it will show there is more buying pressure than selling pressure.What’s Next For Dogecoin?

Dogecoin is just under a critical level on the chart and is looking to try to reclaim it once again. An increase in buyers could push the crypto back above this level once again. Bullish traders are looking to see the RSI cross back above the middle line and the $0.15 level for an uptrend to begin. Bullish traders are also looking to see the price cross back above the moving averages for the sentiment in the crypto to turn bullish once again. Bearish traders are looking to see the $0.15 hold as resistance and for the price to be unable to cross this level once again. This could hint a further bearish push is coming in the future.

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CryptocurrencyLong IdeasShort IdeasTechnicalsTop StoriesMarketsMoversTrading IdeasLicenseRelated Articles Elon Musk-McDonald's Exchange Over Dogecoin Sparks Creation Of New Cryptocurrency — And It's Up Over 50000% Within Hours Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk on Tuesday requested McDonald’s Corp. (NYSE: MCD) to accept Dogecoin (CRYPTO: read more McDonald's Responds To Elon Musk: We Will Accept Dogecoin If Tesla Accepts This Cryptocurrency Fast-food chain McDonald’s Corp. (NYSE: MCD) said it will accept Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk’s read more This Play-To-Earn Coin Named After Elon Musk's Pet 'Floki' Is up Over 560% Today Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) have rebounded along with several other major cryptocurrencies as of Tuesday evening. read more Is The Worst Really Over Now For Bitcoin, Ethereum, Dogecoin? Analyst Says Not Unless The Apex Crypto Claws Back Above This Level Major coins flashed gains Tuesday evening as the global cryptocurrency market cap inched up 0.4% to $1.75 trillion.What Happened: Bitcoin (CRYPTO: BTC) traded 1.5% higher over 24 hours at $36,888.24. For the week, it has fallen 13%. read more

Since their inception, cryptocurrencies such as Bitcoin, Ethereum, and Litecoin have enabled anybody to participate actively in the evolution of the cryptocurrency market. However, the large waves of volatility have turned off a lot of potential players. This is when stablecoins came into the picture for their stable benefits.

While fiat currencies, such as the USD or EUR, were supported by the market’s faith in the issuing governments, stablecoins attain their price by their underlying assets like gold, fiat currencies, or cryptocurrencies. They offer stability in a volatile market while retaining all features of a regular cryptocurrency.

Tether (USDT) was the first stablecoin that came into existence. It started as Realcoin that was widely described as a “stablecoin” that maintained a fixed 1:1 exchange ratio with the U.S. dollar. Tether has pioneered the fiat-collateralized stablecoin paradigm that primarily allowed investors to track their crypto investments.

The Stablecoin Era After the Tether Boom

As Tether grew in prominence, other issuers also created their own stablecoins to provide more stability to the crypto market. TrueUSD (TUSD) was one of the first regulated Stablecoin that came after Tether which was completely backed by the US Dollar. It was 100% secured by US funds in legally protected escrow accounts with various bank partners, bringing security and efficiency to payment transfers. 

MakerDAI (DAI) stablecoin was another well-known stable cryptocurrency that caught the eyes of many. Although the price of DAI Stablecoin stays at $1.00, it is supported by redundant Ethereum-based smart contracts. External market forces like collateralized debt positions (CDPs), autonomous reaction mechanisms, and external economic incentives help to stabilize DAI. It has been more decentralized since only users have the ability to produce and destroy tokens. They exist only once the deposit is paid and vanish after the loan is settled. MakerDAO is the brainchild behind DAI tokens. 

How EURST is Ensuring Stability and Investor Safety

Stablecoins have enabled a significant and rising amount of digital asset trade by allowing market players to swiftly convert volatile digital assets into digital assets with more perceived stability. It has now become apparent that there needs to be backing for stablecoins to ensure stability and investor safety. In fact, with the advancement in blockchain, stablecoins are now being pegged to crypto. Algorithmic stablecoins are also powering the crypto-mania with high-level stability in prices.

EURST is one such stablecoin that adds value by becoming the most transparent and reliable 100% USD-backed euro stablecoin. Issued as a token on the Ethereum network, EURST’s advanced blockchain capabilities enable users to conduct faster and secure transactions. This stablecoin uses smart contracts which digitize deposited funds that are held in a segregated account by the issuer. Thus, empowering users to transact their money without the high costs and lengthy delays of the current financial system.

Unlike most stablecoins, EURST keeps 100% fiat assets as collateral, and moreover the funds are held in an escrow account for the benefit of the token holders. As an addition, the stablecoin is aimed at being totally transparent by being audited in real-time – users can track the funds held in escrow at any given moment, vs. the tokens in circulation. Ultimately, EURST’s goal is to be the secure and reliable bridge to the digital assets space and to be used as a preferred digital payment method. 

Related Items:EURST, FIAT, StablecoinsShareTweetShareShareEmailRecommended for you Hector DAO Brings a New Era of Decentralization Replace Centralized Stablecoins Stablecoins — What Are The Types and Does It Matter Which One You Use? BitYard Has Partnered With Banxa to Expand Fiat Money Deposit Methods Supporting Major Currencies

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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Payment service provider BitPay has announced that a New York-based jewelry collection, SuperJeweler, now accepts cryptocurrencies—Shiba Inu inclusive through BitPay.

Just in time for Valentine’s Day. @SuperJeweler now accepts #crypto with #bitpay. Shop diamonds, engagement rings and other fine jewelry: https://t.co/Fsh4eqg9Cw pic.twitter.com/ppWpjVmXpe

— BitPay (@BitPay) January 24, 2022

Aside from Shiba Inu, BitPay supports leading cryptocurrencies such as Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Litecoin, Wrapped Bitcoin and five USD-pegged stable coins (BUSD, DAI, GUSD, USDP and USDC).

This implies that Shiba Inu holders can now shop diamonds, rings and other jewelry offered by the New York-based jewelry collection ahead of Valentine's Day. The SHIB community is also preparing in earnest for the SHIB lovers' V-Day burn party scheduled for Feb. 14 at 2:00 p.m. CST.

BitPay is the largest Bitcoin and cryptocurrency payment service provider in the world launched in 2011. BitPay set out to change the financial industry while Bitcoin was still in its early stages, making payments faster, more secure and less expensive around the world.

In December 2021, BitPay announced Shiba Inu integration into its wallet app, thus allowing storing, buying, swapping and spending SHIB.

Shib lovers' Valentine's Day burn party

U.Today earlier reported on the upcoming Shib burn parties slated for January to April, as stated in the roadmap. The Shib Lovers merch campaign is presently ongoing from Jan. 14 to Feb. 14. According to Bigger Entertainment, 80% of proceeds from all Shib lovers' purchases will be used to burn SHIB.

A total of 94,756,430 million have been added to the SHIB burn pot ahead of the SHIB lovers' V-Day burn party, as seen on the Bigger Entertainment website.

Burning Shiba Inu tokens permanently removes them from the circulating supply. This is done by sending the tokens to a special wallet with unobtainable private keys. The decrease in the circulating supply might eventually lead Shiba Inu's price upward.

At press time, 410,301,499,932,240 SHIB have been burned out of the initial one quadrillion supply, according to ShibBurn. SHIB was also trading at $0.000021.

#Shiba Inu#SHIB NewsAbout the authorTomiwabold Olajide

Tomiwabold is a cryptocurrency analyst, technical analyst and experienced fund manager. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.

Nouriel Roubini Wants El Salvador President Impeached, ETH Whale Buys 500 Billion SHIB, DOGE Creator Points out Bear Market Sign: Crypto News Digest by U.Today01/25/2022 - 16:03Nouriel Roubini Wants El Salvador President Impeached, ETH Whale Buys 500 Billion SHIB, DOGE Creator Points out Bear Market Sign: Crypto News Digest by U.Today Valeria BlokhinaBTC, DOGE and SHIB Price Analysis for January 2501/25/2022 - 15:45BTC, DOGE and SHIB Price Analysis for January 25 Denys SerhiichukNouriel Roubini Gloats Over 50% Bitcoin Crash as Investors Fear New Crypto Winter01/25/2022 - 14:35Nouriel Roubini Gloats Over 50% Bitcoin Crash as Investors Fear New Crypto Winter Yuri Molchan

The cryptocurrency market has gained a little after taking a battering over the weekend. Its total cap has risen by 5% in the past 24 hours, to $1.74 trillion. Many major coins have risen along with it, with bitcoin (BTC) jumping by 9% in the past day. However, several of the biggest gainers have been metaverse cryptocurrencies, with decentraland (MANA), for example, rising by 12%. As such, we’ve put together a list of the 5 best metaverse altcoins to buy for high returns.

5 Best Metaverse Altcoins to Buy for High Returns1. The Sandbox (SAND)

SAND is up by 11.8% in the past day, rising to $3.04. This represents a hefty 36% fall in the past week and a 56% drop in the last 30 days. SAND is also 64% down on its all-time high of $8.40, set on November 25.

SAND’s technical indicators show that it may have just begun recovering. Its relative strength index (in purple above) began rising again after falling below 20 on Monday. Its 30-day moving average (in red) has stopped falling, and may be about to begin rising towards its 200-day (in blue).

Regardless, SAND is certainly one of the most promising metaverse altcoins. Its native platform, The Sandbox, is easily one of the most successful NFT-based metaverse blockchains in the market. It had a very strong 2021, even selling one plot of land for $4.3 million at the start of December. It also turned over $86 million in land sales in the last week of November alone, more than Decentraland or any other metaverse-related platform.

On top of this, it raised $93 million from major VC fund SoftBank at the beginning of November. Meanwhile, its parent company, Animoca Brands, raised a whopping $358 million about a week ago. With this kind of money behind it, expect it to keep growing.

Buy The Sandbox Now2. Axie Infinity (AXS)

At $51.11, AXS is up by 6% in the past 24 hours. Of course, with the wider market struggling, it’s also down by 33% in the past week and by 53% in the past month.

AXS’s indicators are much like SAND’s. Its RSI neared an extremely low 10 yesterday before bouncing back. At the same time, its 30-day average appears to have stopped its recent decline.

And as with SAND, AXS is a strong metaverse coin in terms of its fundamentals. Its native platform, the NFT-based metaverse game Axie Infinity, continues to boast around 2.3 million daily active users. This has remained more or less stable despite the fact that AXS itself has declined by 69% since reaching a record high in early November.

Axie Infinity also has the benefit that its developer, Sky Mavis, raised $152 million in October from Andreessen Horowitz and Mark Cuban. This bodes well for its future, which is why it’s one of our 5 best metaverse altcoins to buy for high returns. Particularly when it has so much ground to recover.

Buy Axie Infinity Now3. Decentraland (MANA)

MANA has risen by an impressive 12% in the past 24 hours, reaching $2.10. This represents a 28% fall in the last week and a 44% rise in the past month.

MANA’s 30-day average appears to have performed more of a pronounced upwards turn than either AXS’ or SAND’s. This could indicate that it’s about to enjoy a bigger rebound.

Again, Mana is a fundamentally sound metaverse coin. As the native token of Decentraland, it benefits from a strong ecosystem and userbase. Indeed, Decentraland saw an incredible expansion in adoption and value, as highlighted by a recent tweet.

these technicals may continue to disappoint for a while yet.

2021 was the Year of the Metaverse. No one won bigger than @decentraland.

• 33x increase in users • 41x increase in token price • $12B peak market cap

…and it's just getting started. https://t.co/JbfkhYytyJ

— Mario Gabriele 🦊 (@mariogabriele) January 9, 2022

Beyond growing strongly towards the end of 2021, Decentraland has also enjoyed a number of significant partnerships and integrations in recent months. For instance, Samsung launched its own virtual world on Decentraland, providing the latter with a significant boost on January 6.

Samsung announces Samsung #837X, an immersive digital world for fans. This new #metaverse connects #technology with culture as users can complete quests for exclusive #NFTs and a live mixed-reality launch party #CES2022 Learn more: https://t.co/UaJms8Ol9u pic.twitter.com/59fJunrMye

— Samsung US Newsroom (@SamsungNewsUS) January 6, 2022

Of course, MANA has since fallen along with the market. But with momentum in its favour, it could provide one of the bigger rallies as the market recovers.

Buy Decentraland Now4. Enjin Coin (ENJ)

ENJ is up by 5.4% in the past 24 hours, rising to $1.50. However, as with pretty much every other coin, it has fallen steeply over the past week (-35%) and month (-52%).

ENJ’s technicals are much like the coins above. More fundamentally, ENJ holds plenty of promise, with Enjin providing a platform for developers to build digital assets (e.g. NFTs) that can be integrated into blockchain-based games.

As such, Enjin has the potential for plenty of growth, and marked surpassing 20 million users last year.

👨‍🚀 @enjin exploded to over 20 million users in just a few years. The project started as a social network for gaming communities & later launched a game-changing NFT platform.

Watch our interview with #Enjin: https://t.co/JjSvZcvmdF pic.twitter.com/mFUJDglgEY

— Kraken Exchange (@krakenfx) July 18, 2021

More recently, Enjin has witnessed many, many launches of games using its NFT technology. It also celebrated having won a Polkadot parachain auction for its offshoot Efinity, which will build metaverse infrastructure for apps running on Polkadot.

With 7.7M $DOT contributed by over 20,000 community members, @efinityio has won the 6th @Polkadot parachain auction! 🎉

Thank you to everyone who has supported us in our endeavor to bring #NFTs to Polkadot.

To Efinity and beyond! pic.twitter.com/n2ffJEr53C

— Enjin | We're Hiring! (@enjin) December 30, 2021

It’s because of such growth and expansion that ENJ is one of our 5 best metaverse altcoins to buy.

Buy Enjin Coin Now5. Render Token (RNDR)

RNDR is up by an impressive 24% in the past 24 hours, reaching $2.35. It’s down by 27% in the past week and by 52% in the past month.

Unsurprisingly for a coin that has risen by nearly 25% in a day, RNDR’s RSI has risen to a very strong 60. This suggests some very good momentum, which may or may not continue in the short-term.

RNDR is the native token of the Render Network, which provides graphical rendering infrastructure for apps and platforms looking to build metaverses and games. Because of its fundamental importance to the sector, it could become a very big player in the not-too distant future.

Indeed, with Goldman Sachs recently reporting that it expects the metaverse to become an $8 trillion industry, platforms such as Render could become very big indeed.

They're not wrong. We're just debating the timing of when this becomes a reality – Facebook didn't rebrand to Meta without serious consideration and data. I'm still long infrastructure plays like @RenderToken, we're still in the early days…https://t.co/mchWCZAacm

— Vinny Lingham (@VinnyLingham) January 25, 2022

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How to buy DecentralandGuide to buying cryptocurrenciesWhere to buy Axie InfinitySimon ChandlerPRO INVESTOReditor

Simon is a professional blockchain, cryptocurrency and tech journalist, regular contributor to Cryptonews.com, who is writing in depth analysis about the latest developments in the cryptocurrency and blockchain space. He's written for Wired, the Daily Dot, and TechCrunch, and aside from cryptocurrency and the blockchain he's interested in AI, VR, social media, and how technology changes society. He's based in London.

View all posts by Simon Chandler Bitcoin Price Prediction: BTC/USD Falls Below $33,000 in Sudden Sell-OffAzeez Mustapha&bulletUpdated: Updated:&bulletUpdated:

Bitcoin Price Prediction – January 24 The Bitcoin price prediction begins another break down ...

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Bitcoin rose nearly 9% on Tuesday, recovering from six-month lows the day before.

Ethereum rival solana rallied 12%, while ether edged up 7% to above $2,400.

Cosmos rose 15% on news of upcoming airdrops and successful bridging with polkadot

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Cryptocurrencies rebounded strongly on Tuesday, breaking a string of heavy losses over the previous few days and defying broad weakness on the stock market.

Financial markets have experienced wild volatility as investors await the outcome of the Federal Reserve's first policy meeting of the year this week. Investors will scour policymakers' comments to gauge how quickly the central bank is likely to raise interest rates this year and withdraw the economic stimulus put in place during the depths of the pandemic.

The era of ultra-low interest rates and benign inflation appear to be coming to an end, which has rattled the asset classes that benefit most from this combination, such as technology stocks and speculative assets like bitcoin. The Nasdaq 100 index of tech stocks is now firmly in correction territory, while bitcoin is now worth less than half of what it was when it hit a record of around $69,000 in November.

Leading digital currency bitcoin was up 8% in the last 24 hours to $36,455, having hit a six-month low below $33,000, which analysts said may leave it vulnerable to another selloff. Ether was up 7% on the day at around $2,417, but was still nursing a weekly loss of 23%, according to CoinMarketCap.

"As seen last week, the risk-off nature of markets at the moment is not isolated to equities. Crypto, basically risk assets on steroids, continues to face headwinds, with bitcoin now down more than 50% from the November peak, and looking ready for a test of the psychologically important $30,000 mark," Caxton FX strategist Michael Brown said.

Among the altcoins, the cosmos network's atom token was one of the biggest gainers of the day, up 16% in the last 24 hours to around $35.56.

One of drivers of the outperformance in cosmos for some market watchers was the recent link, or bridge, to the polkadot network, which will allow the two blockchains to exchange data.

Also, an airdrop of atom tokens to users that stake coins on the cosmos network added to the bullish undertone. Cosmos is a proof-of-stake network that relies on users staking their existing coins to provide computing resources that help to maintain the network and process transactions in return for rewards in the form of tokens via airdrops. The greater the reward to those staking their coins on the network, the more users will be drawn to that blockchain.

In spite of the rally on Tuesday, the mood in the crypto market remained cautious. The Crypto Fear and Greed index, a gauge of market sentiment based on a number of metrics, was at 12, its lowest since January 8 and reflecting "extreme fear". A reading above 40 would indicate "greed". The index was last at this level in late December.

Read the original article on Business Insider

Bitcoin Price Prediction – January 26 After a notable line of successive downing motions that occurred recently in the BTC/USD trade operations, the crypto-economic market now holds a lower high at $37,500 over several hours of trading. The crypto’s percentage is at 0.92. Price trades within a high of $37,528 and a low of about $36,607 as of writing. BTC/USD Market Key Levels: Resistance levels: $40,000, $42,500, $45,000 Support levels: $35,000, $32,500, $30,000 BTC/USD – Daily Chart The BTC/USD daily chart showcases the crypto-economic market holds a lower high at $37,500 in the bearish channel trend lines. The 14-day SMA indicator is beneath the 50-day SMA indicator. And they are above the current trading spot. The Stochastic Oscillators relatively face northbound above the range of 40, attempting to close their lines in the near time. That indicates the possibility of seeing a southward price reversion in no time.

Buy Bitcoin NowWill the BTC/USD trade still manage to rally to a higher resistance at $40,000 as the crypto market holds a lower high at $37,500?

The BTC/USD trade still appears gathering momentums to the upside. The resistance level at $40,000 can reach in the long run as the crypto market holds a lower high at $37,500. The support trading level at $35,000 may sustain for a while as some downward pressures may resurface purposely for retests around the value line. On the downside of the technical analysis, the BTC/USD market short-position takers may be having a glaring chance of going for a re-launch of sell orders around the $40,000 resistance. Traders may now have to be alert of spotting active reversal of an upward motion between the resistance value point mentioned earlier and the $37,500 before considering exertion of sell orders if the bearish trend has to continue.

BTC/USD 4-hour Chart

The BTC/USD 4-hour chart shows the crypto market holds a lower high at $37,500 as the price is said to be trading in an overbought condition in the medium-term run presently. The 50-day SMA trend line is above the 14-day SMA trend line in the bearish channels drawn. The Stochastic Oscillators have conjoined their lines, somewhat swerving northbound within it to indicate that a buying pressure is still on. The $40,000 will probably remain an overhead strong resistance zone to the current rallying movements in the long run of the crypto economy.

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Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.

View all posts by Azeez Mustapha Bitcoin (BTC) Price Prediction: BTC/USD Makes Upward Correction as Bitcoin Struggles below $38k HighAzeez Mustapha&bulletUpdated: Updated:&bulletUpdated:

BTC Price Slumps as Bitcoin Struggles below $38k High– January 25, 2022 Following the ...

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Bitcoin collapsed as far as 33000, very close to the 100 week MA at 32000/31500. Clearly, there were aggressive buyers waiting with a 4500 pip bounce, hitting the target 37600/800. A high for the day exactly here in fact.

Ripple broke the rising 500-day moving average for a clear sell signal & crashed another 200 pips.

Ethereum broke important support at 3050/3000 & the January low at just above 2900 for a very significant sell signal, with 50% losses so far.

 Daily analysis

Bitcoin bulls defend the 100 week MA at 32000/31500...for now leaving a bullish candle on the bounce to 37600/800. I would be surprised to see further gains but look for strong resistance at the 500-day moving average at 40100/40200. It is only above 41500 that I can feel more positive although we still have strong resistance at 41400/500.

Obviously key support at 33000/31500 now. Longs need stops below 31000. A break lower targets 29000/28500. This is the last line of defense for bulls as a break lower could wipe off another 10,000.

Ripple has crashed as expected hitting 5400. We have bounced to the 100 weeks moving average at 5900/6000 & are actually holding just above here. This gives bulls some hope although I do not think we will hold above here for too long. First resistance at 6560/90 not quite reached yet. Unlikely but further gains meet a sell opportunity at 7250/7350. Stop above 7500. A break higher is a nice medium-term buy signal. Buy & hold!!

Ethereum has crashed as far as the 500 days moving average at 2300/2250 & an overrun to 2150. This is the only support of any importance now. First resistance at 2550/80. Above 2600 however, allows a recovery to strong resistance at 2790/2820.

A break below 2150 is obviously a significant setback for bulls, to say the least - targets are 2200/2170 & 1950/1900.

The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

Cryptos feed-->  Latest Crypto News Latest Crypto News & Analysis Editors’ PicksBitcoin price not out of the woods as sidelined investors remain fearful

Bitcoin (BTC) price is still not yet set for a rebound as bears can trip bulls and push the price back below the pivotal level at $36,709. As markets are trying to catch a breather, it does not look like bears will be going away that easily and could pressure BTC price action to the downside. 

More Bitcoin NewsEthereum price at risk of slipping below $2,000

Ethereum (ETH) price action looked to be starting a rebound yesterday as bulls came in late in the US session and pushed price action back above the monthly S2 support level around $2,378. During the ASIA PAC session, however, almost half of the bull pop got erased, and bears are back, putting pressure on S2 to the downside. 

More Ethereum NewsSolana beats all other blockchains despite degraded performance, says FTX Sam Bankman-Fried

The Solana network suffered an outage several times over the past two weeks. Users complained about failed transfers, and the Ethereum-killer revealed that DeFi investors drove a spike in complex transactions. 

More Solana News Crypto.com CEO Kris Marszalek predicts higher institutional investment in crypto

Crypto.com CEO believes that institutional investment in crypto could continue rising in 2022. Analysts have noted that the native token of the Crypto.com exchange did not get negatively impacted after the recent security incident. 

More Crypto.com NewsBitcoin: BTC may capitulate to $30,000

Bitcoin price has dropped considerably over the last three weeks. The recent downswing has made things worse for BTC and hints that a steep correction could be on its way.

Read full analysis BTC ETH XRP Crypto partners in your location

Cryptocurrencies rebounded strongly on Tuesday, breaking a string of heavy losses over the previous few days and defying broad weakness on the stock market. 

Financial markets have experienced wild volatility as investors await the outcome of the Federal Reserve's first policy meeting of the year this week. Investors will scour policymakers' comments to gauge how quickly the central bank is likely to raise interest rates this year and withdraw the economic stimulus put in place during the depths of the pandemic.

The era of ultra-low interest rates and benign inflation appear to be coming to an end, which has rattled the asset classes that benefit most from this combination, such as technology stocks and speculative assets like bitcoin. The Nasdaq 100 index of tech stocks is now firmly in correction territory, while bitcoin is now worth less than half of what it was when it hit a record of around $69,000 in November.

Leading digital currency bitcoin was up 8% in the last 24 hours to $36,455, having hit a six-month low below $33,000, which analysts said may leave it vulnerable to another selloff. Ether was up 7% on the day at around $2,417, but was still nursing a weekly loss of 23%, according to CoinMarketCap.

"As seen last week, the risk-off nature of markets at the moment is not isolated to equities. Crypto, basically risk assets on steroids, continues to face headwinds, with bitcoin now down more than 50% from the November peak, and looking ready for a test of the psychologically important $30,000 mark," Caxton FX strategist Michael Brown said.

Among the altcoins, the cosmos network's atom token was one of the biggest gainers of the day, up 16% in the last 24 hours to around $35.56. 

One of drivers of the outperformance in cosmos for some market watchers was the recent link, or bridge,  to the polkadot network, which will allow the two blockchains to exchange data.

Also, an airdrop of atom tokens to users that stake coins on the cosmos network added to the bullish undertone. Cosmos is a proof-of-stake network that relies on users staking their existing coins to provide computing resources that help to maintain the network and process transactions in return for rewards in the form of tokens via airdrops. The greater the reward to those staking their coins on the network, the more users will be drawn to that blockchain.

In spite of the rally on Tuesday, the mood in the crypto market remained cautious. The Crypto Fear and Greed index, a gauge of market sentiment based on a number of metrics, was at 12, its lowest since January 8 and reflecting "extreme fear". A reading above 40 would indicate "greed". The index was last at this level in late December.

Check out: Personal Finance Insider's picks for best cryptocurrency exchanges

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Wealthy investor Mike Novogratz says the days of making easy money on Wall Street are coming to a swift end and he sees more pain in store for stock-market investors in coming months.

“I look at the stock market and it is just starting to correct and that worries me more,” he told MarketWatch in a Tuesday interview, as he attended an event in Miami, Fla., where he also said: “I’m still a true believer but it’s time for sobriety”, referring to crypto.

Novogratz, chief executive of digital merchant bank Galaxy Digital BRPHF, -2.37%GLXY, -1.76% says that speculative assets like bitcoin BTCUSD, +2.92% have fallen by around 50% from a peak seen in April of 2020, but thinks equity markets, which have been knocked considerably lower in recent trade also, still have more selling on the horizon.

“You’ve already taken your pain in crypto—you could take a little more pain [in crypto], no doubt about it—and so the stock market hasn’t had as much pain,” Novogratz said.

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The billionaire investor said that he is looking at the small-capitalization Russell 2000 index RUT, -1.45% as one barometer of the market and believes that it could fall to 1,750 from its current levels, while the Nasdaq Composite could possibly shed another 20% from its current slide. The technology-laden Nasdaq is down over 15% from its Nov. 19 record peak and the Russell 2000 is off 18.9% from its recent peak at 2,442.742 put in on Nov. 8, with a further drop to Novogratz’s predicted level representing a more than 28% decline from that November peak.

The Galaxy CEO’s comments come as the Dow Jones Industrial Average DJIA, -0.19%, the S&P 500 index SPX, -1.22% and the Nasdaq Composite COMP, -2.28% were all sliding lower on Tuesday, as selling resumed, a day after a remarkable turnaround for equities resulted in the S&P 500 and the Nasdaq producing their biggest reversals to end higher on a day since the 2008 financial crisis, highlighting the newfound turbulence in the market.

Hand-wringing around the Federal Reserve’s policy, rising inflation, and COVID-19, as well as geopolitical developments, have stoked worries that the popular trade of buying small dips in the market was growing weaker, potentially removing one source of support for the stock market.

The Fed kicked off its two-day policy meeting earlier Tuesday and is expected to set the stage for an increase in benchmark interest rates at least three or four times in 2022 after it concludes the withdrawal of much of the liquidity that helped to avert a steeper economic downturn during the pandemic, starting in March of 2020. The prospect of tighter monetary policy, in the form of higher interest rates, less liquidity from the Fed and the U.S. government, as well as uncertainty about the economic outlook, have been pummeling bullish sentiment.

“We had an environment where the Fed was pumping in money nonstop, but we also had it where the Treasury was giving people lots of money. You had Treasury stimulus, you had Fed stimulus…that created a tremendous tailwind for asset prices so growth-equity stocks looked like they were going to infinity, baseball cars, watches, crypto,” said Novogratz.

“And that created in some ways a gambling economy…or at least call it a speculative economy,” he said, referring to the speculative fervor.

“We have companies that have valuations that just seemed kooky and we all got used to it,” Novogratz said. He said that market is moving to a period of some “form of normality.”

Novogratz underscored that he’s still “wildly optimistic on” crypto but is maintaining a more sober outlook, with the prospect of building out the infrastructure for blockchain technologies that underpinned the digital-asset sector.

“We need more blockchains that go faster…that can process more, we need a better regulatory framework,” he said.

“And it’s going to be a less speculative year…where [as] it was [last year] all felt like one big casino,” he said.

He said the crypto industry is flush with cash and with an influx of talent, who can foster innovation.

As for bitcoin, he hopes that it put in a bottom at $33,000 but could see it trading in a range of $30,000 to $50,000 for the foreseeable future.

He told attendees of the iConnections conference in Florida on Tuesday that the “average rich guy is going to be less rich by the end of 2022 than he was at the end of 2021.”

Novogratz has become a familiar face discussing bitcoin in digital asset circles. The former Fortress Investment Group fund manager kicked off his crypto platform, with the intent on investing, consulting and helping build upon the technological backbone of crypto to foster innovation.

Barron's: Stocks Had a Another Rough Ride. Waiting for the Fed Is Wreaking Havoc.

The market was anxious over what will come Wednesday after the central bank wraps up its two-day monetary policy meeting.

As stock market plunges, a star money manager says the Fed is making a mistake by focusing on rates. Here’s what Scott Minerd says it should do instead.Barron's: Cathie Wood Is Expecting a ‘Bloodbath’ in This Segment of the Market The S&P 500, Nasdaq just staged a turnaround for the ages, marking their largest comebacks since the 2008 financial crisis Is the market crashing? No. Here’s what’s happening to stocks, bonds as the Fed aims to end the days of easy money, analysts sayMark DeCambre

Mark DeCambre is MarketWatch's markets editor. He is based in New York. Follow him on Twitter @mdecambre.

AdvertisementCommunity Guidelines•FAQs tisementAdvertisementAdvertisementAdvertisement‘My company may IPO and make me a millionaire’: My boyfriend and I have a cohabitation agreement. If we split, would he have a right to my money?Microsoft stock’s post-earnings roller-coaster ride won’t be the last‘She took his queen-size bed for herself’: My sister mooched off my father while pretending to be his caregiver. Then he died a painful death.REITs outperformed the S&P 500 in 2021. Here's what to watch in 2022NFL’s Odell Beckham Jr. took his $750,000 salary in bitcoin — how much did that end up costing him?Advertisement

These days, the question that everyone is asking themselves concerns itself Bitcoin. We should expect the 100 thousand dollars or will BTC eventually fall to zero? A question whose answer could greatly influence the pace of cryptocurrency investors. But what if we told you that the best analyzes have already identified the key supports that could propel the run of the queen of cryptocurrencies? Better not waste any more time and take advantage of the current BTC price by buying the crypto directly on Coinbase, the exchange platform where it is very easy to buy, sell and deposit cryptocurrencies.

Bitcoin and the support keys for the race to 100 thousand dollars

Never as in these days we can find so many forecasts on the prices of Bitcoin. The basic idea is to read the movements of the cryptocurrencies, compare them with those of past years and evaluate their potential movement by comparing them with the current economic-financial situation. However, this risks losing the real ones along the way support keys for his $ 100,000 run.

According to some analysts Bitcoin it will reach this figure by mid-2022. Others, on the other hand, believe that the cryptocurrency queen will plummet towards $ 10,000, taking away all the earnings accumulated in 2021.

Currently, however, Bitcoin is exactly in the middle of these two macro forecasts. In fact, at the time of writing, it marks $ 36,115 at a buy price of up Coinbase equal to approximately 31,987 euros.

The sure thing is that Bitcoin, given its volatility now confirmed, it will move in one or the other direction in a sudden and perhaps even violent way. By calculating that i miner they will produce around 900 BTC per day, and by the end of June 2022 there will be approximately 162,900 BTC. The total supply would therefore amount to approximately 19.078 million BTC.

In case Bitcoin reached i 100.00 dollars then its capitalization would reach almost 2 trillion dollars. On the contrary, if it fell towards $ 10,000, we would be talking about a drop of $ 685 billion compared to the opening at the beginning of the year. Hence, the key to support is the willingness of investors to inject approximately $ 1 trillion into the Bitcoin market between now and June.

The brake on 100 thousand dollars is uncertainty

Unfortunately, what has been holding back Bitcoin in recent months is theuncertaintyto. From regulatory issues, to the classic market fears due to the forecast of a possible market correction, given the almost consecutive two years of rally. The decision of the Federal Reserve. The blow came when they finished their $ 120 billion-per-month asset purchase program earlier than set.

Another support key though is theinflation that comes to the aid of Bitcoin showing the cryptocurrency as a safe haven. The idea of ​​protecting one’s savings by buying BTC could therefore spark confidence and lead the crypto to unexpected positive levels. This is why it might be useful to protect part of your savings by investing in Bitcoin and buying crypto at an attractive price directly on Coinbase.

Finally, many investors are hoping for the arrival of other large companies who, like Tesla, will decide to buy Bitcoin to protect and make use of part of theirs capital.

* 67% of retail investor accounts lose money when trading CFDs with this provider. You need to know how CFDs work and if you can afford to lose your moneyLeave a Comment Cancel reply

Today's been an interesting day in the cryptocurrency world. Various top metaverse tokens have recovered some of their losses over the past week, surging on positive market momentum. Among the top tokens many investors are watching are Axie TO:MANA), and Enjin Coin (CRYPTO:ENJ). Over the past 24 hours, they have appreciated 4.1%, 10%, and 6.4%, respectively, as of 3 p.m. ET. 

Seeing these tokens actually push higher throughout the day is a welcome sight for investors. Metaverse-themed cryptocurrencies soared in the fourth quarter, as a number of blue chip tech stocks stepped into this space. Despite a rather red day for the Nasdaq Composite, these tokens are reestablishing their prominence as high-growth tokens worth owning through volatility. 

Image source: Getty Images.

For Decentraland, today's crypto metaverse winner, surging digital real estate sales during Q4 have driven interest in this platform's MANA token. Recent reports that users on other play-to-earn crypto metaverse games such as Axie Infinity are now renting out their non-fungible tokens (NFTs) have shed more light on this sector. Enjin Coin, a key player in developer-focused infrastructure for NFT integration into the metaverse, has surged alongside these other gaming-related tokens today.

So what

Digital real estate sales and in-game NFT purchases continue to roar higher. Despite the volatile market conditions, there are a number of bullish arguments for why these tokens are worth considering right now. For those truly bullish on both developer and user growth in this space, these top metaverse cryptos are ones to consider right now.

However, there's also a viable bearish argument to holding any of these tokens. Speculative interest has driven the valuations of these cryptocurrencies sky-high in a very short amount of time. As portfolio de-risking continues, there's a high probability that the tokens that soared the most could drop the furthest in a risk-off environment. How risk-averse investors turn out to be over the near term is likely to drive the price action of these tokens for now.

Now what

Those seeking capital preservation and a safe place to hide may want to look elsewhere for growth right now. Market sentiment has shifted considerably, and these metaverse tokens are all down meaningfully from their highs. As mentioned, it's possible this rout could continue and today's rise could be a temporary blip on a longer-term bearish chart.

However, there's also the possibility that the metaverse will remain one of the key growth areas investors tend to focus on, despite overall market movements. Time will tell. Personally, I'm sitting on the sidelines with these tokens, waiting for a better entry point.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. Stock AdvisorS&P 500497%134%Join Stock Advisor

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Cumulative Growth of a $10,000 Investment in Stock AdvisorCalculated by Time-Weighted ReturnStocksAXSAxie Infinity CRYPTO:AXSENJEnjin Coin CRYPTO:ENJMANADecentraland CRYPTO:MANA

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