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7TH JUNE LATEST CRYPTO NEWS DIGITAL MAGAZINE

Bitcoin rose marginally last week, snapping its longest streak of nine negative weekly closes. The bulls attempted to build upon this strength in the new week and put in a bottom but the bears are in no mood to let go of their advantage. Although Bitcoin has remained under pressure in 2022, institutional investors have continued to accumulate the dips. This suggests they remain bullish in the long term.

CoinShares’ latest Digital Asset Fund Flows Weekly Report shows that year-to-date, the total institutional inflows into Bitcoin have crossed the half a billion-dollar mark. Does the sustained demand from institutional investors suggest that Bitcoin may have bottomed out or the downside is limited?

According to Arthur Hayes, former CEO of BitMEX, Bitcoin’s previous halving cycles suggest that Bitcoin may bottom out in the range of $25,000 to $27,000 and Ether may find a bottom between $1,700 and $1,800.

We had suggested in our previous analysis that Bitcoin may remain stuck in a range in the short term and that is how it has been. The BTC/USD pair has been trading between $28,800 and $32,646 for the past few days. The bulls tried to propel the price above $32,646 on May 31 but the bears held their ground.

That may have attracted profit-booking by short-term traders, which pulled the price back below the 20-day exponential moving average (EMA) on June 1. Buyers again pushed the price above the 20-day EMA on June 6 but could not sustain the higher levels. This suggests that the sentiment remains negative and traders are selling on minor rallies. The bears will now attempt to sink the price below the strong support of $28,800. If they manage to do that, the pair could drop to the May 12 intraday low of $25,338.

This is an important level for the bulls to defend because if it cracks, the selling may accelerate and the pair could plunge to $20,000. The first sign of strength will be a break and close above $32,646.

Such a move will increase the likelihood that a bottom may be in place. The pair could then attempt a rally to $37,000.

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

Enjoy the issue!


FEATURING IN THIS WEEKS EDITION

– Age of Zalmoxis
– Inddais
– ZiberBugs
– Artex
– Asia Broadband

– DC Pay
– Giving To Services
– CleanCarbon
– Bancambios
– LunaOne

CRYPTO TRADE OPPORTUNITIES

BITCOIN – BTC/GBP

Bitcoin rose marginally last week, snapping its longest streak of nine negative weekly closes. Bitcoin Price Prediction says the bulls attempted to build upon this strength in the new week and put in a bottom but the bears are in no mood to let go of their advantage. Although Bitcoin has remained under pressure in 2022, institutional investors have continued to accumulate the dips. This suggests they remain bullish in the long term. CoinShares’ latest Digital Asset Fund Flows Weekly Report shows that year-to-date, the total institutional inflows into Bitcoin have crossed the half a billion-dollar mark. Read more

ETHEREUM – ETH/GBP

Ether turned down from the 20-day EMA on May 31 and again on June 7, indicating that the bears continue to defend the level aggressively. The price action of the past few days has formed a descending triangle pattern, which will complete on a break and close below $1,700. If that happens, the ETH/USD pair could resume its downtrend Read more

RIPPLE – XRP/GBP

XRP turned down from the 20-day EMA on June 1, indicating that the sentiment remains negative and traders are selling on rallies. The buyers again attempted to push the price above the 20-day EMA on June 6 but failed. The bears will now attempt to sink the price below the strong support of $0.38. If they succeed, the XRP/USD pair could witness aggressive selling which could pull the pair down to the May 12 intraday low of $0.33. Read more

SOL/USD

Solana turned down from $47.75 on May 31, indicating that the bears had flipped the level into resistance. This may have intensified selling which pulled the SOL/USD pair below the vital support of $36 on June 4. However, the long tail on the day’s candlestick shows buying at lower levels. The bulls again tried to start a recovery which hit a wall near the 20-day EMA on June 6. The failure of the bulls to push the price above the 20-day EMA indicates that the sentiment remains negative and traders are selling on rallies. Read more

BINANCE – BNB/GBP

Binance Coin rose above the 20-day EMA on May 30 but the bulls could not sustain the higher levels. That may have tempted the short-term traders to book profits, which pulled the price back below the 20-day EMA on June 1. The buyers tried to push the price back above the 20-day EMA on June 6 but the bears were in no mood to relent. They defended the level aggressively and pulled the price below the $286 support on June 7. Read more

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

Japan Passes Bill To Limit Stablecoin Issuance; Uk Govt Proposes Additional Safeguards

Governments around the world are racing to put in new and additional safeguards around stabelcoins, a crucial part of the cryptocurrency industry, after TerraUSD’s implosion led to multibillion-dollar losses from a supposedly safe asset. Such tokens are estimated to have a combined market value of US $161 billion.

These new measures come as holders of failed stablecoin ventures are still picking up the pieces from the most recent crash in the cryptocurrency market. TerraUSD began slipping from its intended 1:1 peg to the US dollar in early May when the mix of algorithms and trader incentives, meant to safeguard the link, failed to work as planned. The crash led to a steep sell-off across cryptocurrencies and the Terra blockchain backing TerraUSD and its sister Luna token effectively collapsed. Read more

Artex: Making Fine Arts Accessible to Everyone!

ZiberBugs: Full Gameplay Revealed

ZiberBugs is a competitive autobattler created for gamers with the aspiration to greatly increase the number of professional gamers in the world. The game seeks to attain the perfect balance between people wanting to pay for entertainment and people wanting to contribute to the ecosystem while getting rewarded for it. It also strives to expand on successful aspects of other NFT games while, at the same time, repairing some of the design flaws that exist within them. Read more

DC Pay – Fintech Start up has finally Arrived

DC PAY is a Fintech start up based in Brisbane Australia, after 12 months of consultation with industry and individual merchants, DC Pay has clearly identified a gap in the emerging crypto industry in Australia.  DC Pay over the coming 12 months intends to develop a Centralised Exchange system to take advantage of the 4 million Australians who are expected to trade and use cryptocurrency over the next 12 months by creating an eco-system for people to use their cryptocurrencies for everyday use.

Australia has 2.1 million small businesses that contribute to 32% of Australia’s GDP or 418 billion of value to the Australian economy, DC Pay goal is to be to enable merchants to accept Cryptocurrency as payment, with an easy to use and simplistic system, unlike some Centralised Exchanges that are overtly cluttered, complicated and difficult to understand.   Read more

New Look For Crypto Staking Platform That Gives Back To Service Professionals

Service professionals can receive cryptocurrency for free through SVS

A new look had been unveiled for the Top Charity Crypto Token, complete with a fresh website, new branding colours and an impressive logo. Giving To Services is a blockchain company that provides a decentralised finance (DeFi) staking service to holders of their token ‘SVS’. A portion of the staking rewards generated for holders is donated to those professionals within the Health Service, Police, Fire and Military services, as a thank you for the sacrifices they make. The system is powered by the audited digital currency SVS, that enables transparent financial interactions between individuals, charities, institutions and other organisations connected with the provision of the public services. Read more

CleanCarbon Is Using DeFi To Clean Up The Planet

CleanCarbon Is Using DeFi, the first asset-backed and community-driven blockchain project, is cleaning the planet through Decentralised Finance as a vehicle to accomplish environmental goals faster and more effectively. CleanCarbon is providing solutions that connect two worlds; the new model of DeFi financial incentives and the physical installation of the next gen Waste-To-Energy systems. The project centres around the Waste-to-Energy UHTG (ultra-high temperature gasification), treating almost any type of waste as long as it contains some organic product and the right amount of moisture. The project has already begun with an R&D facility and the pilot project on the Canary Islands. Once this phase is completed, the CleanCarbon team plans to expand to other plants around the world. Read more