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14TH JUNE LATEST CRYPTO NEWS DIGITAL MAGAZINE

The selling picked up momentum after the US Bureau of Labor Statistics reported on June 10 that the consumer price index soared 8.6% for the 12 months ending May, the largest annual increase since December 1981. The sell-off in the equity markets continued on June 13 and the S&P 500 fell into the bear market territory.

After the fall in Bitcoin, MicroStrategy’s stash of 129,219 Bitcoins purchased at $3.97 billion is valued at $2.82 billion and Tesla’s Bitcoin holding acquired at $1.5 billion is valued at $945 million, according to Bitcoin Treasuries. Talks of MicroStrategy facing margin calls below $21,000 have been doing rounds but the firm’s CEO Michael Saylor previously said that Bitcoin will have to drop below $3,500 before it becomes a problem.

We had suggested in our previous analysis that if Bitcoin plummets below $25,338, it could drop to $20,000. That is what happened and Bitcoin dropped to $20,816.40 on June 14. The bulls are expected to defend the $20,000 support with all their might.

The sharp fall of the past few days has sent the relative strength index deep into the oversold territory. This suggests that the selling may have been overdone in the short term and a relief rally is likely. If the price rebounds off the current level, the BTC/USD pair could rise to $25,338 and then to $28,800.

The bears will try to flip this zone into resistance. If they do that, it will suggest that the sentiment remains negative and traders are selling on rallies. The bears will then again attempt to resume the downtrend. A break below $20,000 could open the doors for a possible decline to $15,000 but we give it a low possibility of occurring. On the upside, the bulls will have to push the price above the 20-day exponential moving average (EMA) to indicate that the sellers may be losing their grip.

A potential trend change will be signalled if bulls push the pair above $32,646.

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

Enjoy the issue!


FEATURING IN THIS WEEKS EDITION

– PlutusFi
– Brise Paradise
– DC Pay
– GlobiancePay
– Musicology
– Asia Broadband

– AppZaloot
– Age of Zalmoxis
– Inddais
– Bancambios
– LunaOne

CRYPTO TRADE OPPORTUNITIES

BITCOIN – BTC/GBP

We had suggested in our previous analysis that if Bitcoin plummets below $25,338, it could drop to $20,000. That is what happened and Bitcoin dropped to $20,816.40 on June 14. The bulls are expected to defend the $20,000 support with all their might.

The sharp fall of the past few days has sent the relative strength index deep into the oversold territory. This suggests that the selling may have been overdone in the short term and a relief rally is likely. Read more

ETHEREUM – ETH/GBP

We had warned traders in our previous analysis that Ether was forming a descending triangle pattern and a break below $1,700 could result in a decline to $1,241. The ETH/USD pair reached the target objective on June 13 and dipped to an intraday low of $1074.64 on June 14.

The RSI has dropped below 21, which suggests that a short-term relief rally is possible. The bulls may defend the psychological level of $1,000 aggressively. These two reasons combined could start a recovery which could push the price to the breakdown level of $1,700. Read more

RIPPLE – XRP/GBP

The failure of the bulls to push XRP above the 20-day EMA from June 7 to June 10 may have attracted selling by the bears. The XRP/USD pair plunged below the strong support of $0.38 on June 11.

Although we had expected the bulls to mount a strong defence in the zone between $0.33 and $0.38, that did not happen. The bears pulled the pair below $0.33 on June 13. Read more

SOL/USD

We had projected in our previous analysis that Solana could drop to $26 and that is what happened. The SOL/USD pair dipped to $25.84 on June 14.

While the downsloping moving averages suggest that sellers are in control, the RSI is showing a bullish divergence. This indicates that the bearish momentum may be weakening and a relief rally is likely. Read more

BINANCE – BNB/GBP

We had suggested in our previous analysis that the indicators were suggesting advantage to the bears and a break below $254 could pull Binance Coin to $218. That is what happened as the BNB/USD pair plunged to $204.1 on June 14.

Although the downsloping moving averages suggest advantage to bears, the RSI in the deeply oversold level increases the likelihood of a relief rally in the near term. Read more

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

Plutusfi: Maximize Your Gains From Socialfi Tradings!

Introduction to PlutusFi 

Social networking has now become one of the most ubiquitous elements of modern internet that connects people from all over the world. As the incumbent social media giants pushed internet socialization to new heights, the social crypto user scale is also growing over 200% per year. Web 3.0 is bringing new opportunities for social trading networks in the financial area. SocialFi platforms is set to become the most important social tools in the near future. 

PlutusFi is a SocialFi project where influencers are rewarded for sharing their expertise and where people can learn and invest using tools to automate and facilitate trading. It provides social liquidity, encouraging trading through a profitable SocialFi network, fostering cryptocurrency adoption through companies, financial influencers and professional traders.  Read more

NFT/SFT Staking and The Age of Zalmoxis

Introduction

People mostly think of NFT/SFT as digital art or collectibles which have the potential to increase in value over time. Although it is true for most NFT projects in the market at the moment, artists, developers and collectors are constantly working hard to find new uses for those digital assets as the overall market for NFT evolves over time.

Read more

Appzaloot: An Innovative Social Media Platform For Communities

Social media, in its various forms, has become so ubiquitous in the lives of people around the world that at least 14% of the time users spend on their smart device is focused on social media. A study by the Chrome team at Google showed that people prefer using mobile apps to scrolling through mobile websites. Apps account for up to 90% of the time spent on a phone and 77% of the time on tablets. 

However, the proliferation of social media apps and the market domination of a few of them have also led to some unpleasant experiences for users. Some of the bad user experiences include invasive advertising and abusive trolling, to name a few. 

Globiance – The World’s First Combined Banking & Digital-exchange Platform

Globiance – The worlds first Banking & Digital-exchange platform combined, is one of the most exciting exchanges in the Digital Marketplace!  

The Banking / Digital-Asset Exchange-hub, is announcing the launch of 13 new platforms worldwide in addition to European platform already in operation.

GBEX –  the deflationary ‘Native Token’ of Globiance, entered new territory since its release last year, trading in April at an ATH of 0.00000284, crossing the 1Billion Market Cap.  GBEX Token’s outstanding utility, combined with burn&reward system is poised to raise the standard for digital-asset tokenomics. Read more

Musicology Is Creating a Mind-Blowing Investment Opportunity by Building the Ultimate NFT Marketplace For Everything Music

Solutions for everything related to music and with a transparency and governance by its users.

Music remains food for the soul that brings pleasure to the listener. The peculiarity of a song’s melody and rhythm makes for premium potential NFT material. Music NFT is gradually becoming a growing trend in the crypto world with its ability to give ownership rights to creators and provide a globally accessible platform to millions of fans. 

Musicology is a company that opens up the decentralized possibility of participation in music where users can mint, buy, sell, swap, listen and rate creator’s content securely on the blockchain.  Read more