Connect with us


Bitcoin and Ethereum Remain At Risk, LUNA Nears Top 10



  • Bitcoin price could fall again if it doesn’t stay above $ 45,500.
  • Ethereum could extend losses below $ 3,400, XRP could revisit $ 1.00.
  • LUNA is up over 28% and DOT is gaining pace over $ 30.

Bitcoin price is struggling to climb above $ 46,800 and $ 47,000. BTC is having a hard time staying above USD 46,000 right now (12:05 UTC). A break below this level and $ 45,500 could potentially trigger a bigger decline in the near future.

Similarly, most of the major altcoins struggle to start rising again. ETH failed to make up $ 3,500 and could extend its decline below $ 3,400. XRP is also moving down and could break below the USD 1.05 support. ADA is stable above $ 2.40 but faces many hurdles at $ 2.65.

Total market capitalization


Bitcoin price

Recently, Bitcoin price saw a bearish reaction below the $ 46,500 level. BTC is now trading near the USD 46,000 zone. The next big support is at $ 45,500. Should the bulls fail to protect the $ 45,500 support zone, there is a risk of a sharp decline towards $ 44,000. Further losses could potentially push the price towards the $ 43,200 level.

Initial resistance is near $ 46,800. The first major resistance is at $ 47,000. The main hurdle is still $ 47,200 above which the bulls could gain strength.

Ethereum price

Ethereum price failed to cross the USD 3,500 resistance and is moving down. ETH struggles to stay above $ 3,400. If the day closes below USD 3,400, the price could slide further towards USD 3,200.

On the flip side, immediate resistance is near $ 3,480. The next major resistance is near the $ 3,500 level, followed by the important $ 3,550 zone.

ADA, LTC, DOGE and XRP prices

Cardano (ADA) broke the $ 2.50 resistance and rose above $ 2.55. However, the bulls were unable to maintain strength above $ 2.60. As a result, there was another bearish reaction and the price fell below USD 2.50. If the bears stay in the action, the price could potentially move towards the $ 2.32 level.

Litecoin (LTC) is struggling to climb above the key resistance of USD 188. It is now trading below the $ 185 mark. If there is a downside break below the $ 180 level, the price could test the $ 172 level. On the flip side, the bears could stay active near the $ 188 level.

Dogecoin (DOGE) failed to stay above the $ 0.250 pivot level. It is moving down and could soon test $ 0.240. The next big support is near the $ 0.232 level, below which the price could slide towards the $ 0.220 level.

The XRP price is back below the USD 1.10 support. It is now approaching the USD 1.05 support. The main support is near the USD 1.00 handle. A close below $ 1.00 could put pressure on the bulls in the short term.

Different Altcoins Market Today

Many altcoins rose over 10%, including XTZ, ICX, LUNA, MINA, ATOM, ONE, ALGO, KSM, CRV, DOT, AVAX, and MIOTA. Of these, XTZ is holding profits above the $ 6.15 level while LUNA, now ranked 11th by market cap, is approaching $ 39.

To sum up, Bitcoin price is moving down and trading well below USD 47,000. If BTC breaks $ 45,500, it could see a sharp drop.


Find the best price to buy / sell cryptocurrency:

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Crypto plunge a wake-up call — and tax opportunity — for investors



A detail of the statue of Satoshi Nakamoto, a presumed pseudonym of the inventor of Bitcoin, in Budapest, Hungary.

Janos Sorrow | Getty Images News | Getty Images

The price of popular cryptocurrencies like Bitcoin and Ethereum fell on Friday after Chinese officials stepped up crackdown and essentially ruled crypto illegal.

Government intervention, while substantial, does not necessarily mean that financial advisers believe investors should run into the mountains. But it’s another reminder that crypto holdings are subject to wild fluctuations in price, they said.

“I wouldn’t call this the end of the world,” said Leon LaBrecque, accountant and certified financial planner with Sequoia Financial Group, based in Akron, Ohio. “It’s just a wake-up call.”

“This should be in recognition of the fact that it is a volatile asset and that all the ups and downs are a match,” he said.

More from Personal Finance:
Compare the investment of a lump sum versus the distribution over time
The granting of student loans is still in the air
Lack of evidence that the end of additional unemployment pushed people to work

This volatility opens up opportunities for tax planning that may only be a few months away, advisors said, depending on the Democrats’ final compromise on federal tax law.

Bitcoin prices had fallen 6% to around $ 42,000 at 3 p.m. ET Friday afternoon. Ether, the second largest digital currency, fell more than 8% to around $ 2,890.

The People’s Bank of China terrified investors after declaring all crypto-related activity illegal. These activities include, for example, trading services and foreign exchanges. This is the latest move in the country’s wider crackdown on digital currencies.

The ban on Bitcoin and other cryptocurrencies can be of concern for current and prospective investors as the government limits buyers for a significant segment of the world’s population, advisors said. And other governments are likely to have additional regulations as well, they said.

But these can’t make much of a difference in terms of long-term prices. A daily slump in crypto costs, which may feel significant at this point, is likely just part of a longer-term price correction towards an average price, advisors said.

“Will government regulation make cryptocurrencies volatile? Yes,” said Wayne Wilbanks, managing principal and chief investment officer at Wilbanks Smith & Thomas Asset Management in Norfolk, Virginia. “Will it make crypto redundant? No.

“I don’t think China’s regulation, or even US regulations, will make that much of a difference in the long run,” he added.

Bitcoin, for example, is still up around 40% year-over-year despite the slump on Friday. (It’s far from its April high of around $ 63,000, however.)

To this day, volatility is a signature of cryptocurrencies. This year, for example, prices have fluctuated sharply after tweets from Tesla co-founder and crypto enthusiast Elon Musk.

Advisors usually recommend that investors allocate a small portion of their portfolio (anything that they would lose entirely) because of the risk involved.

Tax advantage

Investors can take advantage of recent volatility, according to Jeffrey Levine, CFP, Accountant and Chief Planning Officer at Buckingham Wealth Partners in Long Island, New York.

Equity, crypto and other investors can “reap” investment losses for a tax advantage. Basically, you can sell a lost investment (e.g. Bitcoin) and use the loss to destroy the gain on a winning investment elsewhere in your portfolio.

This “tax loss harvesting” reduces (or eliminates) the capital gains tax owed on the estimated value of an investment sold.

However, unlike stock investors, crypto investors who are sold out can quickly buy back into the same or similar digital currency. As a result, if the volatile asset price recovers shortly thereafter, they can receive the above tax benefit as well as a portfolio benefit.

House Democrats proposed closing this crypto loophole after this year to reform tax law.

Continue Reading


A financial TikTok influencer with almost 500,000 followers says bitcoin is going to ‘get slayed’ – and shares how cryptos and stablecoins make up his trading strategy | Currency News | Financial and Business News



Mason Versluis

  • 21-year-old Mason Versluis has almost 500,000 followers on TikTok, where he gives tips on crypto and markets.
  • He recently spoke to Insider about how he chooses which coin to invest in and why.
  • Versluis said he would like to see bitcoin “slayed” as other coins have far more real-world use cases.
  • Sign up for our daily newsletter here, 10 things before the opening bell.

Bitcoin is the largest cryptocurrency by market value and is dwarfing its competitors for the time being. But the rise of crypto rivals with far more real world uses means it will be dethroned sooner rather than later, according to financial TikTok influencer Mason Versluis.

The 21-year-old Versluis also bears the username Crypto Mason and has almost 500,000 followers on his TikTok account, which he uses to shoot short videos to educate his viewers about crypto and the markets.

Versluis, who has been trading crypto since he was 15, recently spoke to Insider about his prospects for the market.

“The psychological thing that Bitcoin is always number one and king can be gone. By ‘kill Bitcoin’ I mean that I want something to happen and then we’ll see what happens afterwards, ”said Versluis.

Bitcoin has a market capitalization of just under $ 800 billion, according to CoinMarketCap, of the roughly $ 1.9 trillion that the entire crypto market is worth.

In the last 12 months it has gained almost 350% in price, but Versluis believes there is more value elsewhere.

“My dad told me about XRP when I was 17 and I’ve been back ever since,” he said.

“I’m one of those people who think XRP is a ‘better bitcoin’. And it actually solves the payment problem better than Bitcoin ever can or will, ”he added. Ripple Lab’s XRP token is used in fast payment systems – an area where Bitcoin can’t really compete given the comparatively slow network speed. One of the bigger crypto coins, XRP has kept pace with Bitcoin over the past year, rising 320%.

Ether, the native token of the Ethereum network, is the second largest cryptocurrency and accounts for around 20% of the market. The blockchain’s ability to run decentralized financial applications, smart contacts, and other protocols has resulted in an onslaught of investor money in ether this year, up nearly 800% over that time.

“It must have use cases, that is: Does this token do nothing? Am I only buying this token because I think it will increase in value?” said Versluis.

“That’s what I personally invest in, just because of the potential – they actually do something. Ethereum has so many decentralized applications built on it, ”he added.

When it comes to taking a position in a coin, Versluis says he’s not a day trader.

“It’s a lot of stress, you have to sit at the computer and watch the markets,” he said.

“I’m going to see an opportunity, put in some money and basically ramp up this rocket until I think it’s time to sell it. I sell them off and put them in a stablecoin like USDT or USDC. And then I just make profits and reinvest part of it in my main portfolio. So it’s a slow process, “he said.

As a relatively young trader who says that part of his passion for crypto is the decentralized, free nature, the question arises what Versluis thinks about the regulation in this market. Unlike many crypto fans, he’s not against it. However, he believes that all rules have to adapt to the reality of the crypto market and that one size does not fit everyone.

“It’s a digital world. And we’re only getting more digital and virtual, ”he said.

“You can’t just take the old system and the laws and slap it on crypto. It doesn’t work.

Continue Reading


Crypto is about much more than just ‘cryptocurrencies’



  • Cryptocurrency is the most famous application of blockchain technology.
  • The cryptoverse is much larger, however, as other use cases are still under development.
  • A number of industries and some of the largest companies are already using blockchain for business-critical functions.

Contrary to what the term is often used, “crypto” is so much bigger than digital money alone. Even without trying too hard, crypto has started to affect our lives – not just in an abstract sense, but in ways that can be seen and felt in real life.

Depending on the desired definition, crypto refers to anything that uses a cryptographically secured blockchain – a directory of the actions taken – which may or may not be decentralized.

Decentralization – without a single authority at its center – is one of the biggest selling points of cryptocurrencies, but it’s not a requirement. Centralized applications like central bank digital coins (CBDCs) and other examples are starting to hit the market with blockchain technology.

Here’s a quick look at the four hottest trends in cryptoversum that go beyond trading on the crypto exchanges:


Legendary, the left hand of government may not know what the right is doing as both are working towards opposite ends. But it helps to remember that government is people-led, and help, like blockchain technology, which streamlines people’s efforts, is welcome. If it can help to coordinate departments, the various “hands” through which government works, so much the better.

With that in mind, governments that computerized decades ago are looking for the next big leap in crypto. Opportunities being explored include digital identification, digital voting, tamper-proof educational records, title deeds for tracking property, and climate protection.

raw materials

Better tracking of bulk goods has benefited the companies that sell them – the proliferation of barcodes and RFID tags in stores was just the beginning. If you look at the wafer-thin profit margins of these companies, the incentive becomes clear.

Commodity and retail companies use crypto to track fresh farm produce, identify counterfeit retail goods, reward loyal customers, monitor supply chains, and track prescription drugs.

Financial services

Proponents have often stated that crypto or blockchain-based systems have the potential to complete transactions faster, with less effort and more economically. Companies have taken the chance to test these out in the real world by using existing currencies.

Financial institutions are using crypto as a payment network that connects to each other to process payments faster, enable private payment gateways, and handle cross-border money transfers.

New on-site applications are usually grouped into a group called Decentralized Finance or DeFi.

Business processes

Between and within companies, crypto disrupts the management of normal day-to-day business processes. The goal – to increase efficiency, reduce bureaucratic delays and save employees time.

Businesses are using crypto to streamline legal and medical records, track guns sold, enforce workers rights, track compliance and taxes, share industry data, and leverage smart contracts in mining.

In addition, there is ongoing research into how crypto can help in other areas such as food safety, copyright protection, family will, stock trading, etc.

As then shown, cryptocurrency is just the best-known application so far – and the biggest crypto-fueled disruption may yet be ahead.

China’s FUD is dragging Bitcoin, Ether, and other cryptocurrencies down again

Snoop Dogg’s new venture will allow fans to party with him at his LA mansion – and possibly be neighbors

Continue Reading