10th August Latest Crypto News Digital Magazine

Bitcoin broke above the 200-day simple moving average (SMA) on August 9, signalling that the downtrend is over. Fundstrat’s Tom Lee told CNBC on August 9 that buying Bitcoin “when it breaks above its 200-day moving average” has rewarded investors with a six-month return of almost 180%. Lee expects Bitcoin to rally to about $100,000 by the end of the year.

Financial news outlet The Street reported on July 30 that asset management firm GoldenTree, which has about $45 billion in assets under management, has bought an undisclosed amount of Bitcoin.

OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE ARE
SUBME – AN INVESTMENT TOOL THAT DISRUPTS THE SUBSCRIPTION
MARKET!
&
WORLD MOBILE TOKEN: REBOOTING TELECOMS THROUGH
BLOCKCHAIN AND THE SHARING ECONOMY

We had said in our previous analysis that a short-term trading opportunity may open up if Bitcoin rebounds off the 20-day exponential moving average (EMA) and that is what happened. Traders who bought on our recommendation may book partial profits and trail the stops higher on the rest of the position.

The BTC/GBP pair turned down from £30,310.12 on August 1 but the bulls aggressively defended the 20-day EMA. This suggests that the sentiment has turned positive and traders are viewing dips as a buying opportunity. The pair bounced off the 20-day EMA on August 4 and the bulls pushed the price above the overhead resistance of £31,005 on August 7. The bears tried to trap the bulls by pulling the price back below the breakout level of £31,005 on August 8 but the long tail on the day’s candlestick shows strong buying at lower levels.

If buyers sustain the price above £31,005, the pair could start its journey to £36,000 and then to £38,000. The rising moving averages and the relative strength index (RSI) in the overbought zone suggest that bulls are in control.

This positive view will invalidate if the bears pull the price back below the 20-day EMA. Such a move could open the doors for a decline to £26,926.16.

Lastly please check out the advancements happening in the cryptocurrency world.

Enjoy the issue!

Featuring in this weeks Edition

– Dirty Finance
– Hypersign
– GSX
– Gain Protocol
– Kaiken
– Neftipedia

– The Coop Network
– BeatBind
– Ferrum Network
– World Mobile Token
– ClearMoon
– Subme.Cash
– Wasder

CRYPTO TRADE OPPORTUNITIES

 

 

BITCOIN – BTC/GBP

We had said in our previous analysis that a short-term trading opportunity may open up if Bitcoin rebounds off the 20-day exponential moving average (EMA) and that is what happened. Traders who bought on our recommendation may book partial profits and trail the stops higher on the rest of the position.  Read more

ETHEREUM – ETH/GBP

In our previous analysis, we had recommended traders buy on a strong rebound off the 20-day EMA. The price did not drop to the 20-day EMA but came close to it on August 4. Traders who bought this bounce would have made quick gains. Read more

RIPPLE – XRP/GBP

The tight range consolidation between the 20-day EMA and the overhead resistance at £0.53566 resolved to the upside on August 7. This triggered the buy recommendation given in the previous analysis. The bulls are struggling to sustain the upward momentum as bears are attempting to pull the price back below the breakout level. Read more

CARDANO – ADA/GBP

Cardano broke above the 50-day SMA on August 3 and has continued its move higher. The rising 20-day EMA and the RSI in the positive zone suggest that bulls have the upper hand.  Read more

BINANCE – BNB/GBP

Binance Coin broke and closed above the overhead resistance of £236 on August 6 which triggered the buy recommendation given in the previous analysis. However, the bulls are struggling to build on the breakout as bears are trying to pull the price back below £236.  Read more

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Dogecoin, Shiba Inu Post Big Weekly Gains in Meme Coin Resurgence

 

Is meme momentum back in full swing? DOGE’s uptick is ahead of the market, while a token burn seemingly gives SHIB a bump. Dogecoin has seen a 27% price bump over the last week, greater than Bitcoin or Ethereum in the same span. Read more

Ethereum network burns $395K ETH per hour after London upgrade

At current burn rates, 2.3 ETH per minute, or $6,600, is going up in smoke. Approximately 2.3 Ether (ETH) is being burnt every minute through the new transaction fee mechanism introduced in Ethereum’s London upgrade on Thursday. The highly anticipated London hard fork went live on Thursday this week, ushering in the Ethereum Improvement Proposal (EIP) 1559 upgrade that adjusted gas fees. Part of that adjustment introduced a mechanism that burns some of the base fees collected. Read more

Poloniex Settles for $10 Million with SEC for 'Aggressive' Listing Policy

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Several Crypto Mining Stocks Up Sharply as Bitcoin Rises Above $46K

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WASDER ECOSYSTEM – AN ECOSYSTEM DESIGNED FOR GAMERS!

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Singapore to License Digital Payment Providers, Approves Crypto Exchange

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Ukraine could legalize Bitcoin payments after proposed crypto bill

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