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2ND AUGUST LATEST CRYPTO NEWS DIGITAL MAGAZINE

After three consecutive negative monthly closes, Bitcoin made a comeback in July with a 16.8% gain, according to Coinglass data. In comparison, Ether had much better performance as it rallied more than 56% during the same period. This indicated that investors may have started accumulating at lower levels, anticipating that a bottom may be in place.

Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said in a tweet on July 29 that “Fed Chairman Jerome Powell’s “meeting by meeting” comment may mark the pivot for Bitcoin” to outperform most assets. In another tweet on July 31, McGlone said that Bitcoin may be on track to recover from the “steepest discount” to the 100- and 200- week moving averages.

Bitcoin reversed direction from $20,715 on July 26 and rose above the ascending channel on July 28. However, the bulls could not build upon this advantage and sustain the higher levels. This indicates that bears continue to sell on rallies.

The failure to sustain the price above the channel may have attracted profit-booking from short-term bulls and shorting from aggressive bears. That has pulled the price to the 20-day exponential moving average (EMA). This is an important level to keep an eye on. If the price rebounds off the 20-day EMA, the bulls will again try to push the price above the overhead resistance at $24,666. If they succeed, the BTC/USD pair could start an upmove toward $30,000. Alternatively, if the price slips below the 20-day EMA, it will suggest that the bullish momentum may be weakening.

The pair could then decline to the 50-day simple moving average (SMA). The flattening 20-day EMA and the relative strength index (RSI) near the midpoint suggest a range-bound action in the near term. The pair may remain stuck between $20,715 and $24,666 for a few days. 

He added that the risk-to-reward ratio may be “tilted favourably for one of the greatest bull markets in history.”

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

Enjoy the issue!

FEATURING IN THIS WEEKS EDITION

– Globiance
– WeedoVerse
– Cardalonia
– CollectiVerse
– H2O Securities

– ZiberBugs
– AiBook.Art
– Immunify.Life
– DC Pay
– LunaOne

CRYPTO TRADE OPPORTUNITIES

BITCOIN – BTC/GBP

Bitcoin reversed direction from $20,715 on July 26 and rose above the ascending channel on July 28. However, the bulls could not build upon this advantage and sustain the higher levels. This indicates that bears continue to sell on rallies.

The failure to sustain the price above the channel may have attracted profit-booking from short-term bulls and shorting from aggressive bears. That has pulled the price to the 20-day exponential moving average (EMA). Read more

ETHEREUM – ETH/GBP

Ether rebounded off the 20-day EMA on July 26 and rose above the $1,700 resistance on July 28. However, the buyers could not sustain the higher levels, indicating aggressive selling by the bears.

That may have attracted profit-booking from short-term traders and the price dipped back below $1,700 on July 30. The bears have kept up the pressure and the ETH/USD pair has reached the 20-day EMA. Read more

XRP turned up from $0.32 on July 26 and rallied above the overhead resistance of $0.38 on July 30. However, the long wick on the day’s candlestick shows that bears continue to sell aggressively at higher levels. That pulled the price back below $0.38 on July 31.

The bulls attempted to resume the recovery on August 1 and August 2 but the bears continued to sell on rallies. If bears sink the price below the 20-day EMA, the XRP/USD pair could drop to the 50-day SMA. Read more

CARDANO/USD

Cardano continues to trade inside a large range between $0.39 and $0.55. The bulls tried to push the price above the overhead resistance between July 29 and July 31 but the bears did not relent.

The price turned down and has broken below the 20-day EMA. This suggests that the pair may oscillate between $0.45 and $0.55 for some time. The flattening moving averages and the RSI near the midpoint also suggest a range-bound action in the near term. Read more

BINANCE – BNB/GBP

Binance Coin turned up from the 50-day SMA on July 26 and rose above the resistance line of the ascending channel on July 29. However, the bears did not allow the rally to sustain above the psychological barrier of $300.

The price turned down and slipped back into the channel on July 30. The bulls again tried to push the price above the channel on July 31 but the bears did not relent. This attracted selling by traders and the BNB/USD pair could now drop to the 20-day EMA. Read more

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

NFT Market Summary July 30, 2022

Introduction

It is a well-documented fact that many of the greatest innovations have come out during periods of crisis and many new disruptive start-up ideas and ventures were also born during market downturns. As the crypto and NFT markets are going through a turbulent downturn, the clamor for their real-life use cases have only gone louder in recent weeks.

Just when critics of crypto and NFT have pounced upon the opportunity and joined the chorus to denounce it for lack of real-life use cases, we have the world’s leading crypto currency exchange launching a pilot project of its NFT ticketing solution. Read more

CollectiVerse – A more secure and safe way to invest in the DeFi and NFT market

The crypto ecosystem is evolving and attracting a broader audience. At the same time, we have seen a few boom and bust cycles that reflect it needing better systems and technology to broaden mainstream use cases. The stage at which crypto is now, is reminiscent of the early days of the internet when the latter was only synonymous with early adapters. Now, the internet is accessible and used by all. 

The widespread use of the internet is due to visionary entrepreneurs who built safe, secure and ready-to-use platforms that made it easier for everyone to gain access.  Read more

LunaOne – Making the Metaverse a reality

Lockdown measures imposed during the Covid-19 pandemic gave a huge boost to such social connectivity projects, as remote working policies compelled more people to explore the virtual world for their business and entertainment needs.  Read more

DC Pay: Gateway to Crypto Trading

We are on the verge of a cashless society, which seems like something from science fiction. The shift to cashless transactions has already become commonplace in today’s financial practices and transactions, and many companies, financial institutions, and even governments are supporting it. Our daily lives are becoming increasingly dependent on a cashless society as people become more aware of its importance.

ZiberBugs Prototype Launch: The Perfect Time to Invest for the Long Term

In recent years, professional gaming has been gaining traction. Not just as a form of entertainment but also as a viable source of income. However, only a handful are benefitting from the innovation.


Meanwhile, the gaming space has embraced blockchain technology, causing a revolution in the sector. In a few years, there will be no gaming without blockchain. So, early adoption is an excellent way to reap the benefits.


Like ZiberBugs puts it: be part of the evolution – be part of the revolution! They’re encouraging blockchain enthusiasts to consider the gaming space a great long-term investment opportunity. Recently, ZiberBugs announced their plan to launch the platform’s prototype. Read more

Immunify.Life: Redefining The Healthcare Landscape with Blockchain Technology

All over the developing world, there are health care deficiencies centred around the lack of access to basic amenities. This problem is compounded by the use of outdated data storage systems, making it difficult for healthcare professionals to meet the needs of their patients.

Without reliable data systems, medical doctors and nurses cannot access their patients’ health records or meet the growing healthcare challenges in their jurisdictions. An effective apparatus for storing, retrieving, and distributing healthcare data is an invaluable tool for medical professionals in these countries and will save lives. This is the idea behind the creation of Immunify.Life 一 an economical, scalable healthcare data system powered by AI and blockchain technology.  Read more

Microsoft bans NFT access to its Minecraft platform; action breeds innovation

Global software giant Microsoft has announced that third-parties would not be able to use the Minecraft ecosystem for NFT projects and that Minecraft’s in-game content such as Worlds, skins, persona items, or other mods cannot be utilized by blockchain technology to create a scarce digital asset.

Games such as Minecraft rely on user-generated content to produce revenue and Microsoft keeps about 50% of the revenue generated by third-party content but has not kept anything from NFT sales so far. Read more

NFT hacks via Discord could be connected – Report

The recent spate of hacking of NFT projects through the social media platform Discord indicates that many of them are either connected or are part of a larger string of attacks, according to an analysis by blockchain intelligence firm, TRM Labs.

The firm’s review of more than 15 notable Discord hacks targeting NFT servers and a detailed analysis of on-chain and off-chain data suggested many of the Discord compromises targeting NFT projects showed similar patterns of behavior, with hackers using an array of tactics to scam Discord users. Read more