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In a recent CNBC poll of a group of portfolio managers and equity strategists, only 6% of respondents expect Bitcoin (BTC) to hit $ 60,000 in 2021. A large part, 44% of the participants, predict that Bitcoin will stay below $ 30,000 this year. The remaining 25% expect the recovery to hit $ 45,000 and the remaining 25% expect the recovery to climb to $ 55,000.

This suggests that sentiment remains negative. However, China’s recent crackdown on crypto miners or regulatory measures have failed to trigger the next stage in the downward trend in Bitcoin. This suggests that smart money is not panicking, but bottom fishing for dips.

Analyst Willy Woo said in a recent interview on the What Bitcoin Did podcast that long-term holders who sold their Bitcoin earlier this year are slowly piling up at lower levels. Woo added that on-chain data suggests that Bitcoin is in the process of recovery.

According to sources from The Street news agency, billionaire Steven Cohen’s Point72 Asset Management hedge fund is looking for a “cryptocurrency boss” to enter the crypto sector. This suggests that institutional investors see the current slump as an entry point.

With crypto markets recovering, let’s study the charts of the top five cryptocurrencies that stand a good chance of leading the relief rally.


Bitcoin has consolidated between $ 31,000 and $ 42,451.67 in the past few days. After the bears failed to keep the price below range support on June 22nd and 26th, the bulls are currently trying to rebound.

BTC / USDT daily chart. Source: TradingView

The bulls have pushed price above the 20-day exponential moving average ($ 34,993) and will now attempt to push the price above the 50-day simple moving average ($ 36,597). The positive divergence in the relative strength index suggests that bullish momentum may pick up.

If buyers push the price above the 50-day SMA, the BTC / USDT pair could rise into the overhead resistance zone of $ 41,330 to $ 42,451.67. The bears will likely defend this zone aggressively. If the price deviates from this resistance, the pair can extend its range-bound action by a few days.

Contrary to this assumption, if the price drops from the 50-day SMA and falls below $ 32,700, the bears will try again to bring the pair below $ 31,000. If successful, the next stop could be critical support at $ 28,000.

BTC / USDT 4-hour chart. Source: TradingView

The 4 hour chart shows the formation of an ascending triangle pattern that completes on a breakout and closes above $ 36,670. If the bulls pull it off, the pair could climb to $ 41,000 and then to the pattern target at $ 44,535.

On the contrary, if the price drops from the current $ 36,670 level, the bears will attempt to lower the pair below the triangle’s trendline. If that happens, the bullish setup will be wiped out and this could drop to $ 32,700 and then to $ 31,000.


Ether (ETH) broke above the 20-day EMA ($ 2.193) on June 30, but the bulls were unable to hold the higher levels. The bears pulled the price back below the 20-day EMA on July 1st, trying to trap the aggressive bulls.

ETH / USDT daily chart. Source: TradingView

However, the strong rebound from $ 2,018.50 on July 2nd suggests that sentiment has turned positive and traders are accumulating on dips. The bulls pushed the price back above the 20-day EMA on July 3rd.

The 20-day EMA has flattened and the RSI is trying to move above 52, suggesting that momentum is turning positive. The ETH / USDT pair could rally to the downtrend line where the bears could try to stop the upward move.

But if momentum continues and the bulls drive price above the downtrend line, the pair could rise to $ 2,990.05. This positive view will be invalidated if the pair deviates from the 50-day SMA ($ 2,437) and breaks the $ 2,000 support.

ETH / USDT 4-hour chart. Source: TradingView

The 4-hour chart shows an inverse head and shoulders pattern that completed on a breakout and a close above $ 2,280. This bullish setup has a target of $ 2,860. The rising moving averages and the RSI near the overbought zone suggest buyers are in control.

If, contrary to this assumption, the pair falls back below $ 2,280, it suggests that the bears have not given up and are trying to trap the aggressive bulls. A break below $ 2,000 could shift the advantage back in favor of the bears. The pair could then retest the critical support at $ 1,728.74.


Uniswap (UNI) rebounded from $ 13 on June 22nd, rising above the 20-day EMA ($ 19.50) for the first time since June 4th, which is a positive sign. The 20-day EMA has flattened and the RSI has risen to the middle, suggesting that sellers are losing control.

UNI / USDT daily chart. Source: TradingView

The UNI / USDT pair could now move to the 50-day SMA ($ 22.99) where the bears are likely to build strong resistance again. However, if the bulls can hold off the next drop in the 20-day EMA, it will signal a shift in sentiment from selling on rallies to buying on dips.

That increases the chances of breaking above the 50-day SMA. If so, the pair could start its journey to overhead resistance at $ 30. On the contrary, if the price goes down below $ 16.93, the bears could pull the pair back down to $ 13.

UNI / USDT 4-hour chart. Source: TradingView

The moving averages have made a bullish crossover and the RSI is near the overbought area, meaning that the bulls have the upper hand in the short term. If buyers push the price above the overhead resistance at $ 21, the pair could gain momentum and climb to $ 25 and then to $ 27.

On the other hand, if the price breaks below the 20 EMA, the next big support to watch on the downside is at $ 17. A break below this will indicate that traders will continue to be short at higher levels. The pair can then drop to $ 15.


After a massive drop from $ 497.19 to $ 28.31, Internet Computer (ICP) is trying to bottom out. The 20-day EMA ($ 53) is flattening out and the RSI is trying to rebound from severely oversold levels, suggesting that selling pressures are easing.

ICP / USDT daily chart. Source: TradingView

If the bulls push the price above USD 60, the ICP / USDT pair will complete a 1-2-3 bottom formation. The pair could then climb to $ 72.61. If the bulls subsequently halt the next drop above the 20-day EMA, it suggests that a new uptrend has begun.

Contrary to this assumption, the bears will seek to lower the pair to the all-time low of $ 28.31 if the price moves down from current levels and falls below $ 41.44. Breaking below this support could prolong the downtrend.

ICP / USDT 4-hour chart. Source: TradingView

The moving averages have made a bullish crossover and the RSI is in positive territory on the 4 hour chart, suggesting that the bulls are back in the game. However, the bears are unlikely to give up easily and defend $ 52.

If the price is falling down from the current level but rebounds from the moving averages, this indicates an accumulation at lower levels. The bulls will then try again to push the price above $ 52 and then above $ 60.

If successful, the pair can start a new uptrend. Contrary to this assumption, the pair can retest the all-time low if the price drops below $ 40.

Connected: Altcoin Roundup: Smart investors don’t just buy dips, they cost an average of dollars


Aave broke the downtrendline on June 29th, suggesting the negative momentum is wearing off. The bears tried to stop the rebound on the 20-day EMA ($ 252) but failed to bring the price back below the downtrend line. This suggests buying at lower levels.

AAVE / USDT daily chart. Source: TradingView

The bulls pushed price above the 20-day EMA on July 3rd, indicating a possible turnaround. The bears might try to turn previous support at USD 280 into resistance, but if the bulls do not allow the price to drop below USD 215.62, the possibility of a break above the overhead resistance is high.

That opens the gates to a rally to the 50-day SMA (321) and then to $ 400. The flattening 20-day EMA and RSI near the middle signal that the bulls are trying to make a comeback. This positive view will be invalidated if the AAVE / USDT pair drops down from current levels and drops below USD 215.62. This could re-test the June 22nd low at $ 170.10.

AAVE / USDT 4 hour chart. Source: TradingView

The 4 hour chart shows a rounded bottom formation that completes on a breakout and closes above the overhead resistance at $ 280. This reversal setup has a target target at $ 389.90, but it might not be an easy ride up as the bears will try to stop the rally at $ 340.

Both moving averages have risen and the RSI is in positive territory, indicating an advantage for the bulls. If the price is falling down from current levels but bouncing off the moving averages, it suggests that sentiment has turned positive and buyers are accumulating on dips. That assumption will be invalid on a breakdown and will close below $ 215.62.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph. Every step of investing and trading involves risk, so you should do your own research when making a decision.

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Neobank launches real-time cryptocurrency conversion



California-based MovoCash, a neo bank that Launched in 2017, released a new cryptocurrency service for its users last week. The technology called MOVO Chain acts as a curfew on cryptocurrency investments and enables customers to quickly convert 10 different cryptocurrencies into fiat currencies that are stored on a debit card.

The fintech works with the Coastal Community Bank and offers its customers five core services: MOVO Cash, MOVO CASH Cards, MOVO Pay, MOVO Digital Banking and MOVO Chain. MovoCash CEO Eric Solis said the company had registered more than 1.2 million accounts and issued half a million cards.

The company said “United States-based cryptocurrency users can convert and send / spend funds by debit card to anyone with an email address or cell phone number.

The new service can make crypto more important as a medium of exchange. Solis’ vision for the service is for customers to “use Bitcoin and other major cryptocurrencies as long-term savings and fiat for their daily payments.”

In order to process the conversion of cryptocurrency into cash, neobank has teamed up with the payment service provider BitPay.

According to Solis, Bitpay acts as a firewall “between the bank and the crypto” so that “over time [the payment] If you get anywhere near the bank, it’s back in fiat currency. “More specifically, the payment is stored in the form of tokens on an electronic debit card that can be sent to another electronic device.

Partnership with bank

Eric Sprink, President and CEO of Coastal Community Bank, said he was proud to work with neobank.

“MOVO Chain is providing MOVO customers with a unique solution that enables them to seamlessly convert and send cash values ​​from their Bitcoin or other cryptocurrency holdings,” he said in a statement.

MovoCash caters to a wide audience with its mobile banking services, from celebrities to those who make a living from paycheck to paycheck. Solis does not expect MOVO Chain to be used by all or even most of Neobank’s customers.

“I think the percentage of our users using Bitcoin is probably the same as what you would find in a general sample of society,” he said. The service fills a niche for selected customers who want to use cryptocurrencies like Bitcoin and Ethereum as an asset class, but want to access these funds for payments at any time.

The company recently signed up to Equity crowdfunding on StartEngine. To date, MovoCash has raised $ 219,204 from 106 investors on the crowdfunding site. In total, the fintech has raised around $ 1.5 million for a convertible bond. MovoCash has more than 420.8 million US dollars in user deposits and cites a growth rate of 242% in 2019 and 2020. neobank cites its security and the contactless end-to-end payment experience as reasons for its success.

Solis said he anticipates user accounts growth will grow organically as customers send payments and suggest the app to friends and family.

Movo has competition

MovoCash is hardly the first Neobank to offer its customers services related to cryptocurrencies. Update recently released a Bitcoin Rewards credit card that offers customers 1.5% bitcoin refunds when they use the card. Fintech Paybby plans share a cryptocurrency platform this summer as the company seeks to increase the popularity of crypto with minority investors. The Neobank electricity plans to launch crypto products in the future.

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Why Ethereum Could Surpass Bitcoin In The Near Future – Crunchbase News



By Ahmed Shabana

Even after major cryptocurrencies experienced a threatening collapse from their all-time highs in April, most have soared 200 percent to 300 percent or more from that point in the past year. Bitcoin is making all the headlines, and there are legitimate concerns about its roller coaster nature.

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But what about Ethereum? Ethereum was conceived in 2013 and is an open source platform that helps develop and implement new decentralized applications with the same core concepts as blockchain.

The difference between Ethereum and Bitcoin has caught the attention of large market players like Goldman Sachs, who recently advised investors that Ethereum has a good chance of surpassing Bitcoin’s market cap of $ 660 billion.

The Ethereum network holds more promise because of its real world applications and its ability to store value. Ethereum represents the future of programmable money and smart contracts in ways that older cryptocurrencies like Bitcoin cannot.

Ethereum simplifies worldwide payments

Since the Ethereum network supports the development of new applications in its infrastructure and enables their creation, it is potentially a more valuable resource in the long run. Ether (ETH) will be used to pay for these transactions, as last seen with the booming popularity of NFTs this spring. The result is a much higher usage rate for Ether with far more transactions than Bitcoin in the last 12 months.

Ahmed Shabana from Parkpine Capital

Despite the recent decline in cryptocurrencies, ether rose nearly 1,000 percent in the past 12 months, compared to the 300 percent increase in Bitcoin. Where a Bitcoin is a pure token of value – a currency that is backed by the perceived value of those who own it – Ethereum and the ETH blockchain fuel each other. The recent upgrades to the Ethereum network are helping it to scale much faster and lower transaction costs on the network, which further drives the price of the tokens up.

Instead of having a central instance that monitors how the applications run on the Ethereum network and which transactions are processed, Ethereum-based apps are booming. The most common types of these apps are DeFi. These apps saw 2,000 percent growth in 2020, with more than $ 16 billion in crypto assets stored in their logs by the end of the year.

The future of ETH

Ether started 2020 at $ 125.63 and grew nearly 500 percent to $ 729.65 by the end of the year. It hit $ 4,380 briefly in 2021, but has since hovered between $ 1,700 and $ 2,500, sometimes rising or falling as much as $ 1,000 in a single week.

The big question is where will ETH end in 2021. Many projections are relatively optimistic, with an average price target of between $ 3,500 and $ 4,500 by the end of the year and average long-term projections of $ 11,170 by 2025. However, there are some who see it even faster and more substantial during this time grows.

In a recent Forbes article, a panel of crypto experts including Sagi Bakshi and Lex Sokolin predict that ETH could climb as high as $ 19,842 by 2025 and that by the end of 2022, due to its growing utility in the world, it could increase the The most common cryptocurrency could be the marketplace.

These experts name a number of upgrades that will be made to the network in 2021 that will lower the currently high transaction costs and dramatically increase the benefits. An expert on the panel, Sarah Bergstrand, estimates that ETH could reach US $ 100,000 by 2025.

The biggest upgrade contemplated by investors is EIP-1559, which will overhaul the transaction fee system used by Ethereum. Instead of sending charges to miners who perform tasks on the network, users send the charge to the network itself, which wipes out the charge, reduces the overall supply, and then increases the value of the currency.

The future of cryptocurrency regulation

Ethereum represents a sustainable, function-oriented approach to cryptocurrencies that will support the future of DeFi. But many people stay on the sidelines waiting for government regulations to be implemented.

While longtime cryptocurrency investors lament the idea that regulations limit the freedoms currently available in the market, large investors and corporations see the inevitable implementation of such regulations as a source of stability that could lead to mass adoption.

After several months of chaos, the Biden government is examining how to tackle the markets. A congressional committee has been set up to review digital currencies, the FDIC has asked banks to provide documentation on how they use digital assets, and auditor Michael Hsu is reviewing all current and past guidelines on cryptocurrencies. The chairman of the US Securities and Exchange Commission warns bad actors of impending enforcement and regulation.

Overall, many view these changes as good. When markets are regulated, they become safer for everyday users, and Ethereum can go “normal” with the range of decentralized apps that support and enable it.

Ahmed Shabana is a venture capitalist, startup advisor, investor and entrepreneur. He is Managing Partner of Parkpine Capital, Founder of the Global Ventures Summit, and Creator of The Hungry Company.

Illustration: Li-Anne Dias

Stay up to date with the latest financing rounds, acquisitions and more with the Crunchbase Daily.

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Google’s New Cryptocurrency Ad Policy Goes Into Effect – Featured Bitcoin News



Internet giant Google’s new advertising policy has come into effect. The company now allows certain cryptocurrency displays, such as: B. those that advertise the exchange of cryptocurrencies and wallets. Advertisers must meet certain requirements and be certified by Google.

Google now allows some crypto ads

Google’s new advertising policy for financial products and services, announced in June, has come into effect. A note on the internet giant’s website:

Starting August 3, advertisers offering US-targeted cryptocurrency exchanges and wallets will be able to advertise these products and services if they meet the following requirements and are certified by Google.

To be certified by Google, advertisers must either be registered with the Financial Crimes Enforcement Network (FinCEN) as a money services company or be a federally or state-recognized bank. They must also meet the relevant legal requirements and their ads and landing pages must comply with Google’s advertising guidelines.

In 2018, Google banned ads related to “cryptocurrencies and related content (including, but not limited to, Initial Coin Offerings)”. [ICOs], Cryptocurrency exchanges, cryptocurrency wallets and cryptocurrency trading advice) ”as well as advertisements for crypto-related“ aggregators and affiliates ”. Google then allowed selected crypto ads in the US and Japan.

Last June, Sydney-based law firm JPB Liberty filed a class action lawsuit against Google, Facebook and Twitter for banning cryptocurrency ads.

While the new policy allows certain crypto ads, Google still doesn’t allow ads for ICOs, defi-trade protocols, and those that “promote the buying, selling, or trading of cryptocurrencies or related products.” In addition, “ad targets that aggregate or compare issuers of cryptocurrencies or related products” are prohibited.

One of the prohibited ad categories is “Celebrity Cryptocurrency Recommendations”. Many scammers have taken advantage of Google and Youtube to promote fraudulent Bitcoin giveaways. Apple co-founder Steve Wozniak sued Google and Youtube last July for promoting Bitcoin advertising fraud using his name and likeness. However, the court ruled in Google’s favor.

What do you think of Google changing its policy to allow ads in cryptocurrency? Let us know in the comment section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation to make an offer to buy or sell, or a recommendation or endorsement of any product, service, or company. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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