19TH APRIL LATEST CRYPTO NEWS DIGITAL MAGAZINE

Bitcoin and Nasdaq 100 have been clobbered in 2022 as both are down about 15% but in the same period, gold has risen about 10%. This shows that in a high inflation, rising rate environment, investors have shunned assets perceived as risky and are sticking to gold, which is a proven inflation hedge. Another positive sign has been that Bitcoin balances on the crypto exchanges have continued to decline.

Data from on-chain analytics firm CryptoQuant shows that the cumulative balance of Bitcoin at 21 major exchanges has declined to its lowest level since July 2018. This suggests that investors have been withdrawing their Bitcoin to HODL for the long term.

The buyers attempted to push Bitcoin back above the 50-day simple moving average (SMA) on April 13 and 14 but the bears did not relent. This suggests that bears are trying to flip the 50-day SMA into resistance. The bears tried to extend the correction on April 18 but the long tail on the day’s candlestick shows strong buying at lower levels. The recovery is likely to face strong resistance at the moving averages.

The downsloping 20-day exponential moving average (EMA) and the relative strength index (RSI) in the negative territory suggest that bears have a slight edge. If the price turns down from the moving averages, the possibility of a drop to $37,000 increases. The buyers are expected to defend this level aggressively.

If the price rebounds off $37,000 with strength, it will suggest that the BTC/USD pair could remain range-bound for a few more days. If the price turns up from the current level and rises above the 50-day SMA, the short-term momentum may shift in favour of buyers. The pair could then rally to $44,000 and later to $45,855.

Lastly please check out the advancement’s happening in the cryptocurrency world.

Enjoy the issue!


BITCOIN – BTC/GBP

The buyers attempted to push Bitcoin back above the 50-day simple moving average (SMA) on April 13 and 14 but the bears did not relent. This suggests that bears are trying to flip the 50-day SMA into resistance.

The bears tried to extend the correction on April 18 but the long tail on the day’s candlestick shows strong buying at lower levels. The recovery is likely to face strong resistance at the moving averages.  Read more

ETHEREUM – ETH/GBP

The bears pulled Ether below the 50-day SMA on April 18 but the long tail on the day’s candlestick shows strong buying by the bulls at lower levels. The price recovered sharply and closed back above the 50-day SMA.

However, the bulls continue to face stiff resistance at the 20-day EMA. If the price once again breaks below the 50-day SMA, the bears will attempt to pull the ETH/USD pair below $2,880.  Read more

RIPPLE – XRP/GBP

XRP rebounded off the support at $0.68 on April 12 suggesting that bulls are actively defending this level. This suggests that the XRP/USD pair could remain range-bound between $0.68 and $0.91 for a few more days.

The flat moving averages and the RSI near the midpoint also indicate a consolidation in the near term. Read more

LUNA/USD

We had projected Terra’s LUNA token to drop to the strong support at $75 in our previous analysis and that is what happened.

The bulls aggressively purchased the dip which resulted in a sharp rebound on April 18. The recovery is facing resistance at the 20-day EMA, indicating that bears are selling on rallies.  Read more

BINANCE – BNB/GBP

Binance Coin slipped below the 50-day SMA on April 18 but the bears could not capitalise on this advantage. This suggests that bulls are buying on dips close to the strong support at $385.

The failure of the bears to sustain the lower levels increases the possibility of a break above the 20-day EMA. If that happens, the BNB/USD pair could attempt a rally to the overhead resistance at $460.  Read more

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Although the traditional wealth management options still abound, they face competition from modern strategies. A perfect example of a disruptor is social trading. Think of it like the traditional office set-up whereby managers often share monthly performance reports with their teams. 

Team members can then get to know the best performer and learn effective strategies from them. In other words, social trading platforms like Maxxer allow novice crypto-currency traders to learn the trade from seasoned counterparts. 

Trends in the crypto market and various helpful information are often shared across the platform. Users don’t need to spend hours hunting for information. Further, the age-old and often expensive and time-consuming trial and error approaches are no longer necessary. Rightly so, social trading is low-cost and pretty convenient within the Maxxer ecosystem. Read more