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12TH APRIL LATEST CRYPTO NEWS DIGITAL MAGAZINE

BitMEX CEO Arthur Hayes said in a blog post that the 10-day correlation between Bitcoin and the Nasdaq 100 Index (NDX) remains high. That means if the Nasdaq enters a meltdown, falling 30% to 50%, then the crypto markets are unlikely to be spared.

He expects Bitcoin to plummet to $30,000 and Ether to drop to $2,500 by June of this year. Although the near-term price action favours the bears, whales remain bullish for the long term. At the recently concluded Bitcoin 2022 conference in Miami, ARK Invest CEO Cathie Wood reiterated her call for Bitcoin to reach $1 million by 2030. She expects about two and a half percent of institutional assets to be allocated to Bitcoin in the next eight years.

We cautioned traders in our previous analysis that a break below $44,000 could sink Bitcoin to the 50-day simple moving average (SMA) and that is what happened. The BTC/USD pair turned down sharply on April 6 and reached the 50-day SMA on April 8.

 Although the bulls defended the 50-day SMA from April 8 to April 10, the failure to achieve a strong bounce off it attracted further selling by the bears. The pair plunged below the 50-day SMA on April 11 and broke the psychological support at $40,000. If the price sustains below $40,000, the next stop could be the strong support at $37,000. The buyers are likely to defend this level aggressively. If they succeed, the pair could remain stuck inside a large range between $37,000 and the 200-day SMA for a few days.

Alternatively, if the price turns up from the current level, the buyers will try to push the pair above the 50-day SMA. If that happens, it could signal the formation of a higher low, which may be a bullish sign.  

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

Enjoy the issue!


FEATURING IN THIS WEEKS EDITION

– CleanCarbon
– Ernest in Disguise
– Faith Tribe
– Bashoswap
– Hubble Protocol
– loop Ventures

– DeepSquare
– Artex
– Solidus
– Have NFT
– 3QualiTy
– Ninja Fantasy Trader

CRYPTO TRADE OPPORTUNITIES

BITCOIN – BTC/GBP

We cautioned traders in our previous analysis that a break below $44,000 could sink Bitcoin to the 50-day simple moving average (SMA) and that is what happened. The BTC/USD pair turned down sharply on April 6 and reached the 50-day SMA on April 8.

Although the bulls defended the 50-day SMA from April 8 to April 10, the failure to achieve a strong bounce off it attracted further selling by the bears. The pair plunged below the 50-day SMA on April 11 and broke the psychological support at $40,000.  Read more

ETHEREUM – ETH/GBP

We said in our previous analysis that Ether’s failure to pick up momentum following a break above the 200-day SMA looked like a bull trap and that is what it turned out to be.

The ETH/USD pair broke below the support at $3,284.75 on April 6 and the bears thwarted attempts by the bulls to reclaim the level. The selling resumed on April 11 and the pair dropped to the 50-day SMA.  Read more

RIPPLE – XRP/GBP

XRP plummeted below the 50-day SMA on April 6, indicating that short-term traders may have been rushing to the exit. The buyers tried to push the price above the 50-day SMA on April 7 and 8 but failed.

This renewed selling and the XRP/USD pair broke below the support line on April 11. The RSI has dropped below 35, indicating that bears have the upper hand. Read more

LUNA/USD

Although Terra’s LUNA token was in an uptrend, we gave it a low probability of rallying to higher levels of $150. And our assumption in the previous analysis proved to be correct.

The LUNA/USD pair turned down from $119.44 on April 5 and broke below the breakout level of $103.50 on April 7. The failure to hold on to this level may have attracted profit-booking by the short-term bulls and selling by the aggressive bears.  Read more

BINANCE – BNB/GBP

We anticipated the bulls to encounter strong resistance near the 200-day SMA and that is what happened.

The failure to push the price above the 200-day SMA may have tempted short-term traders to book profits. That pulled the price below the 50-day SMA on April 11.  Read more

Subscribe to the latest crypto news digital magazine for the latest updates about profit and loss in cryptocurrency.

CleanCarbon: Accelerate the reduction of the carbon footprint from the environment!

There is no doubt that people have become more aware of the impact on the environment that human activities have created and its potential long-term losses in terms of climate change. The awareness may be attributed to both government regulations as well as due to informed decisions made by people and companies alike, to reduce waste and resultant pollution.  

Although it seems that things are finally heading into the right direction when it comes to reducing carbon footprint, there are people who believe that the changes being made are not implemented fast enough. Some places in the world still lag behind when it comes to efficient waste disposal, reducing pollution and recovering energy from used products. Read more

Ernest Comics: Introducing the World’s Best Comic NFTs!

Crypto NFTs are digital representations of physical assets built on a blockchain network, and they cannot be duplicated. Non-fungible tokens feature metadata and identification codes that set them apart. The difference in the value of each NFT makes it impossible to exchange or trade them equally. Thus, they are different from cryptocurrencies that can be used for commercial transactions since they are identical and carry an equal worth. These non-fungibles are built in a manner that a single NFT can have several use cases.  

Crypto NFTs are extensible, and they can be combined to produce another unique NFT. Like cryptocurrencies, NFTs also have ownership details, making it easy for token holders to transfer and identify. Its owners can add attributes and metadata about the physical asset on the NFTs. Read more

Solidus AI Tech: Our Intelligence is more than Artificial

What is Solidus Ai Tech Ecosystem?

Solidus AI Tech is a subsidiary of Solidus Technologies. They were developed as the AI subsidiary of the firm. Solidus AI Tech’s vision is to create data centers and IaaS infrastructure for the provision of AI services. They will provide High Performance Computing (HPC) AI services to the EU but can be utilised by organisations Globally. They have future plans to build additional data centers across Europe and further expand across the globe. Their first HPC Data Center is based in Bucharest, Romania where the electricity costs are low and clock in the fastest Internet speeds in Europe. Read more

Artex: Bringing Art to the Masses

NFTs are digital certificates associated with blockchain-based digital assets. Essentially, they represent digital assets in the form of cryptocurrency tokens. You can buy NFTs for original artwork, trading cards, music, videos, and anything digital. The trend of art NFTs has been around for two years, where artists sell their artwork for a high price. These art NFTs are growing rapidly.

Globally, the art market accounts for about $60 billion in annual market volume, according to Statista’s (2021) data. Additionally, the data projects that the online art market will be worth $9.32 billion in 2024. In the Art NFT space, many users own art pieces, and various projects are available. However, investment in fine arts can be problematic for small investors. That’s where Artex comes into play. Read more

3QualiTy: The platform simplifies charitable giving!

Several cryptocurrency philanthropists predict that cryptocurrency donations will surge in 2022. Donation systems based on blockchain technology can provide donors with increased control over their charitable giving and increased transparency into how their donations are impacting others. Additionally, blockchain-managed tracking can increase public confidence in charities by making it easier to monitor donations. By utilising crypto-philanthropy, the social sector may be able to generate millions of dollars more.

Transparency in the sector is also a goal of some of these new platforms, which leverage the underlying blockchain technology. Similarly, 3QualiTy provides a unique way to make cryptocurrency donations and earn rewards. Through donations, they ensure that crypto traders and holders will get the best return on their money. Throughout this article, we will look at the 3QualiTy platform in more detail. Read more

Faith Tribe Marked Milestones in Early 2022

Faith Tribe, a collaborative and open-source fashion design platform, has remained focused on democratising fashion in the metaverse. 

Since its launch, Faith Tribe has marked significant achievements that are working in favour of not only the fashion industry but also the blockchain and crypto sphere. Some of our marked milestones in early 2022 include the following: Read more

Bashoswap Private Sale is Ongoing

The Bashoswap team is pleased to inform the crypto community that it has begun a private sale round for early adopters.

partnership@bashoswap.financeYou must have at least 20,000 ADA in your wallet to participate in the private sale. They will offer 100,000,000 Bash tokens in its round of private sale, and investors who wish to join in the private sale can do so by emailing them at their email partnership@bashoswap.finance.

Bashoswap is a decentralised exchange (DEX) on Cardano founded by blockchain expert Beri Ardas and backed by a team of experienced traders and stock exchange market professionals. Bashoswap aims to develop disruptive dApps for Cardano, such as permissionless on-chain staking, lending, and governance protocols. Read more

Hubble Protocol stablecoins, USDH and HBB, Capture Value for your Investment

Supercharging your liquidity on Solana is possible thanks to Hubble Protocol and USDH. Understanding what the Hubble Protocol stablecoins are all about and what you stand to benefit from them is crucial.  

After going live, Hubble Protocol allowed users to mint and deposit USDH, as well as stake their HBB to earn rewards. 

HBB, Hubble’s native/governance token, can be deposited into LPs on Orca. The HBB token serves two major purposes that include acting as a governance token that allows holders to vote and propose changes, as well as earn rewards generated by the protocol. Read more