Saturday, August 13, 2022

What Will Be The Next Bitcoin

Why You Should Invest In Binance Coin

Covid Truthers Claim Unvaccinated Sperm Will Be The Next Bitcoin

There are two factors that make Binance Coin worth considering. The first is its market capitalization. At nearly $47 billion and growing, its one of the bigger cryptos available. Thats also an indication its gaining acceptance in the marketplace.

The other factor is price performance. The 25-fold increase in price in just one year confirms this crypto has wide investor interest, at least as cryptocurrencies go.

But tread lightly on this one. Nearly all the price action has happened in just the last three months. In fact, it hit its price peak on February 18th and has been largely running in place ever since.

Cryptocurrencies Under $: Dogecoin

Price: $0.4574

Dogecoin was originally created as a joke to mimic the rise of Bitcoin, but it has since taken on a life of its own. I wrote about its phenomenal rise recently in InvestorPlace, and about those saying the joke is over.

Moreover, Dogecoin has a slightly inflationary token supply structure. This is because the token issues just 5 billion new Dogecoin each year. With a present total of 128 billion Dogecoin, that means the average annual increase is 3.90%. But each year this percentage increase declines as the base denominator rises.

This token supply structure may actually make Dogecoin a useful cryptocurrency for payments in the real economy, as I wrote in my Feb. 8 article. The reason is that economies need a slight bit of inflation, which helps account for both the velocity of spending as well as price increases.

It also discourages people from hoarding the currency, even though it rises in value. Since most large economies grow at an average clip of 3% or better over the long run, the greater-than-3% growth in cryptocurrency supply helps accommodate this growth.

Therefore, look for Dogecoin to take on more than just a cult following over the next year or so. I suspect it has a good chance of crossing $100 billion in market value, making it the third-largest cryptocurrency after Ethereum.

Bitcoin Prices Fell To Almost 2

Bitcoin prices fell below $53,000 several times today.

getty

Bitcoin prices suffered significant declines today, falling to their lowest in nearly two months and repeatedly dropping below $53,000, a level that has been identified as providing key support.

The worlds most valuable digital currency by market value reached as little as $51,808.54 this afternoon, CoinDesk data shows.

At this point, it was trading at its lowest level since October 6, additional CoinDesk figures reveal.

Following this decline, the cryptocurrency bounced back, rising above $54,000, before continually falling below $53,000 this evening.

At the time of this writing, the digital asset was trading close to $53,000.

Several analysts spoke to this particular level, emphasizing its importance.

The support near $53K is important to us too, but so far it is still intact, said Katie Stockton, the founder and managing partner of Fairlead Strategies, LLC.

Todays weakness may have been sparked by the negative momentum behind high-growth stocks, which seemed to affect sentiment regarding bitcoin in Q2.

William Noble, the chief technical analyst of research platform Token Metrics, also weighed in on this level, in addition to offering a short-term outlook.

53k was the prior high from back in September, he stated.

So, that former ceiling might act as a floor near term. 53k will probably act as support for part of the weekend, added Noble.

Read Also: Where To Buy Cummies Crypto

What Was The First Altcoin

Namecoin was the first altcoin and it was created. Namecoins primary purpose is to decentralize domain-name registration, which makes internet censorship much more difficult. However, it also functions as a currency.

Bitcoin is still leading the virtual currency pack, even with many close competitors. Newer and more innovative versions are getting launched. They offer modifications in areas like Proof of Stake, privacy, transaction speed, DNS resolution and more. A few altcoins have become popular and the rest of them are lesser-known.

What A Crypto Etf Would Mean For Investors

Next bitcoin crash will wipe 90% from price and cause ...

Crypto ETFs are not yet available in the U.S., but approval could mean more Americans buying in and influencing the crypto market. Instead of learning to navigate a cryptocurrency exchange to trade your digital assets, you could add crypto to your portfolio directly from the same brokerage with which you already have a retirement or other traditional investment account.

However, investing in a crypto ETF would still carry the same risk as any crypto investment its a portfolio of assets, but would be diversified only by different cryptocurrencies, which are all speculative and volatile. If youre not willing to lose the money you put into crypto by purchasing on an exchange or an eventual crypto fund, you should carefully consider if youre willing to take on the risk of having cryptocurrency in your portfolio at all.

Recommended Reading: Where Does Cryptocurrency Come From

Cryptocurrencies Under $2 That Could Be The Next Bitcoin

These 7 large cryptocurrencies all sell below $2.00, allowing investors to buy large amounts of shares

Bitcoin has moved up so far, so fast that anyone starting to invest in cryptocurrencies is more or less forced to look at alternative plays. As of Friday May 7, BTC-USD was trading at $57,732, up 99.3% from $28,972 on Dec. 31, 2020. Many investors are considering other cryptocurrencies that might offer better upside and a cheaper absolute price.

This article discusses 7 of the top 20 largest cryptocurrencies to consider investing in beyond Bitcoin and Ethereum , the second-largest cryptocurrency. ETH-USD was at $3,535 as of Friday, May 7, and is up 384% from $730.37 as of Dec. 31, 2021.

Well look for altcoins that have lower absolute prices than these top two cryptocurrencies. These alternative picks might provide the same meteoric upside both Bitcoin and Ethereum have had over their lifespan.

Each of these cryptocurrencies trades below $2. That means for $2,000 you can buy up to 1,000 coins or tokens. So if they ever trade above $100, like Litecoin , currently at $351, or Filecoin , at $150.67, investors can make a lot of money.

Why Are There So Many Cryptocurrencies

The majority of cryptocurrencies today are derived in some form or another from Bitcoin, which uses open-source code and a censorship-resistant architecture. This means that anybody can copy and tweak the code and create their own new coin. It also means that anybody is free to join its network or transact in it.

Recommended Reading: How To Receive Airdrop Crypto

Paying With Bitcoin: These Are The Major Companies That Accept Crypto As Payment

Cryptocurrencies are never far from the headlines these days. If its not news that the value of Bitcoin has reached a record high of $60,000 for the first time, its news that Tesla founder Elon Musk is investing billions in it.

While buying and selling cryptos is becoming increasingly mainstream, the opportunities to spend virtual currencies are somewhat limited in comparison due to its volatility.

There are, however, a growing number of companies across a plethora of industries – from big tech to airlines – who are embracing cryptocurrencies, allowing customers to use them as an official method of payment for their goods and services.

Here are some of the biggest and more well-known companies using and accepting cryptos.

Btc Price Prediction For The Next Three Months

Why Bitcoin Will Be The Next Global Reserve Currency | Greg Foss | Pomp Podcast #611

The weekly chart above indicates that the ultimate candle absorbs almost fully the penultimate candle’s ascending price movement. That’s a bearish signal.

The BTC/USD price location increases negative sentiment. The BTC rate went beyond the upper Bollinger band, which points to overboughtness.

The RSI is overheated too and indicates a bearish divergence.

The limits of a projected fall are marked in the BTC/USD price chart. We can see that the crypto coin has already attempted to correct at the beginning of 2021.

Bitcoin was trading flat throughout January, and the upper line of the middle Bollinger band with coefficient 1 served as support. I don’t have many reasons to say that fractal won’t repeat again. Strong support will then be located at around 42,000.

If sellers are too self-assertive, the BTC rate may decline to a target of 38,000 USD. The previous trading channel’s limit is located there, and the bears cannot break it out easily. Since the bullish trend isn’t broken, such a pullback may turn to the historical high’s retest.

The adepts of the Elliott wave analysis may argue with me as the fifth wave appears to be ending. However, the market is inert, especially after a rise that big. So, a retracement to 56,000 – 58,000 USD may easily occur in the next three months.

Don’t Miss: Where Can I Buy Shiba Inu Crypto

Cryptocurrencies That Could Become The Next Bitcoin

3 February 18

Virtual currency pretenders waiting in the wings

Cryptocurrencies continue to vex investors, while simultaneously crowning new millionaires in this challenging time. While Bitcoin is the dominant virtual currency that grabs much of the attention, there are plenty of other cryptocurrencies out there, some of which are also popular and relatively high-profile such as Ethereum and Ripple. But there are many lesser known virtual coins, too literally thousands of them.

While it remains relatively uncommon to actually purchase anything with these virtual currencies, theres still plenty of money that could potentially be made with these more obscure coins that have been likened to the penny stocks of the cryptocurrency world and the right one could be due for a meteoric rise.

Here are six potential contenders which could be on the verge of heading up, up and away, but as ever, note that you make any investment in this volatile arena at your own risk.

What Bitcoin Price Volatility Means For Investors

Bitcoins volatility is more reason for investors to play a steady long game. If youre buying for long-term growth potential, then dont worry about short-term swings. The best thing you can do is not look at your cryptocurrency investment, or set it and forget it. As experts continue to tell us each time theres a price swing whether up or down emotional reaction can cause investors to act rashly and make decisions that result in losses on their investment.

Don’t Miss: Where Can You Use Bitcoin To Buy Things

Is Bitcoin A Good Investment

Should I invest in Bitcoin? Now you may have this question in your mind. The digital currency Bitcoin hit another all-time high on October 20, 2021, climbing over $66,930. The strong advance of the cryptocurrency to a new record high does not seem to be coming to an end for the time being. So Bitcoin: buy or sell?

Back in 2017-2018, people thought that Bitcoin coming close to $20,000 was the end. But the digital currency proved multiple times that it could overcome new barriers, even after massive drops. So, Bitcoin could be a good investment going further.

However, the investors optimism becomes even stronger when price targets from analysts – over $100,000 and even $250,000. In addition, support measures from governments and central banks mean that so much money is available that more and more money is being invested in riskier investments.

Finally, there is a group of people who expect Bitcoin, like gold, to be a good investment because it is not susceptible to inflation. The current advance started last year. The digital currency then roughly quadrupled in value, according to data from coinmarketcap.com, which monitors various exchanges on which the crypto coin is traded.

Regulatory Recognition In October 2021

Bitcoin Not The " Next Gold"

U.S. Bank, the fifth-largest retail bank in the USA, launched its Bitcoin custody service for fund managers. On top of it, the Biden administration might release an executive order to direct federal agencies. If this goes into effect, they will be ready to study and offer recommendations on the crypto market, which is great news for traders.

Its a validating moment, said Jesse Proudman, co-founder and CEO at Makara. I think thats a really meaningful mark in the history of the broader digital-asset class.

Bitcoin price today is $48 536.93.

Recommended Reading: What Is The Best Time To Buy Bitcoin

Heres Whats Next For Bitcoin And The Altcoin Markets After Rough End To 2021 According To Top Analyst Michal Van De Poppe

AltcoinsBitcoin

Crypto analyst Michaƫl van de Poppe is making a series of bold predictions for Bitcoin and the overall crypto markets as 2021 comes to a close.

Van de Poppe tells his 524,800 Twitter followers that Bitcoin has already touched a crucial make it or break it area of support.

Chop, chop, chop it is for Bitcoin. A crucial area to hold is that region weve touched already at $42K.

The close was above $46-47K and Id prefer not to lose that at all.

Van de Poppe predicts Bitcoins long-term bull run will continue into the new year despite recent choppy price action.

Bull market is still going to continue for Bitcoin.

Bitcoin is trading at $48,615 at time of writing, down 3% on the day.

As for the rest of the crypto and altcoin markets, Van de Poppe says that the bottom is nearly in.

Markets to bottom out during this month, as the majority is coming to the conclusion that we arent going parabolic now.

Though he no longer expects altcoins to go parabolic in the remaining three weeks of 2021, the trader believes crypto markets will rebound big during Q1, Q2, and Q3 of 2022.

Big breakout Q1 2022 including alt seasonPeak bull cycle Q2/Q3 2022.

The current crypto market cap is valued at approximately $2.41 trillion, down 3% over the last 24 hours.

Featured Image: Shutterstock/sdecoret/Vladimir Sazonov

Guggenheim To Launch New Fund With Possible Bitcoin Exposure

Guggenheim Partners, one of the largest global investment and advisory firms, recently filed with the SEC to create a new fund, called the Active Allocation Fund. The filing indicates the fund may seek investment exposure to cryptocurrency . Analysts believe that this fund and another fund Guggenheim created last November could have Bitcoin exposure.

Read Also: What Makes Crypto Prices Go Up

For The Bitcoin Day Ahead

Bitcoin would need to move through the $48,157 pivot to bring the first major resistance level at $49,263 into play. Support from the broader market would be needed, however, for Bitcoin to break out from $48,500 levels.

Barring an extended crypto rally, the first major resistance level and Fridays high $50,212 would likely cap the upside. In the event of an extended rally, Bitcoin could test the second major resistance level at $51,318 before easing back.

Failure to move through the $48,157 pivot would bring the first major support level at $46,102 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$45,000 levels and the 38.2% FIB of $44,144. The second major support level at $45,000 should limit the downside.

What New Regulation Could Mean For Investors

Pi Network: Why It Will Be The Next Bitcoin

Recent proposed legislation could make it easier for the IRS to find cases of tax evasion when it comes to crypto, though investors should already keep records of any capital gains or losses on their crypto assets. But the new rules may also make it easier for investors to properly report crypto transactions.

This is because if the bill passes, exchanges will have to issue 1099-B tax forms with cost basis information to investors, Shehan Chandrasekera, CPA, head of tax strategy at CoinTracker.io, a crypto tax software company, recently told NextAdvisor. This will significantly reduce the crypto tax filing burden.

Regulatory announcements can also affect the price of cryptocurrency in already volatile markets. Market volatility is why investing experts recommend keeping any cryptocurrency investments to less than 5% of your total portfolio and never invest anything youre not OK with losing.

Ultimately, many experts believe regulation is a good thing for the industry. Sensible regulation is a win for everyone, says Ben Weiss, CEO and cofounder of CoinFlip, a cryptocurrency buying platform and crypto ATM network. It gives people more confidence in crypto, but I think its something we have to take our time on and we have to get it right.

Also Check: How To Read Crypto Depth Chart

Where To Invest In Cryptocurrency

Unfortunately, the list of services you can use to purchase cryptocurrency is extremely limited, especially among mainstream financial institutions. While cryptocurrency has certainly come up in recent years, even to the point of being quoted on major financial webpages, its not nearly so warmly embraced in the general economy.

If you want to trade cryptocurrencies quickly, easily, and affordably, check out Robinhood. Its an investing app where you can trade stocks and exchange-traded funds commission-free. But they can also accommodate the trading of cryptocurrencies. They offer trading in Bitcoin, Ethereum, and Dogecoin, in addition to other cryptos.

One of the advantages they offer is that youll have an opportunity to invest in cryptos alongside your investing activities with stocks and funds. That will eliminate the need to have a dedicated cryptocurrency trading platform, further complicating your investment life.

What Is The Next Best Cryptocurrency

Theres no such thing as the best crypto. The notion is highly subjective, and a lot depends on what that cryptocurrency will be used for. Theres little point in comparing Bitcoin with various DeFi tokens, for example.

Its near impossible to predict which cryptocurrency is going to make it big next. For now, Bitcoin and Ethereum remain the best cryptos for long-term investment however, again, they may not be the best if they dont fit your investment goals.

To find out what your personal next best cryptocurrency is, understand what your investment goals are and clearly establish a trading strategy. Then, research the crypto market, watch the crypto space, and find the cryptocurrency that you think will both make it big and suit you as an investor.

Read Also: How To Transfer Crypto From Exchange To Wallet

Popular news
Related news