Connect with us

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

Published

on

Bitcoin crash
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in the past two months. With the prices going up due to a recovery, many tend to forget that corrections are still something that never fails to arrive, and the fear of missing out tends to get to even the most cautious of investors.

Of course, the crash that is likely to follow will not be nearly as devastating as the one in 2018, but it is likely to act as its mini-version. The behavior is pretty much the same — BTC sees sudden growth, the volume starts to hesitate, buyers start losing interest, and sellers take over, use the opportunity to make a profit, causing the price to crash along the way.

Even Bitcoin dominance is ready to see a correction, which will likely spark an even larger sellout. Many use the index to try and predict the price’s behavior, and as soon as the coin’s dominance starts to drop, they tend to sell it for LTC and ADA. Then, they buy BTC again when the price is low, and the cycle continues.

The index is currently very close to the overbought territory, and it has topped off at 58%. As a result, it is likely to fall soon, with its first support at 50%. If this support does not stop it, it is more than likely that an ever bigger crash is going to follow. However, as mentioned, this will be a good thing for altcoins. Many of them saw quite a surge the last time BTC index hit this level, which was earlier this year, in March.

ADA’s price against BTC skyrocketed from 0.00001 BTC to 0,00001944 BTC, all within a single month. LTC saw a considerable growth itself, growing from 0.0012 BTC to 0.00189 BTC. The same is true for a lot of other coins.

The rise of altcoins is coming

When Bitcoin started growing seriously back in April, a lot of altcoins suffered as traders and investors went for the BTC. This kept driving the coin’s price to major heights, and this is why we are now about to see a correction. However, with BTC expected to come, many are already buying altcoins they previously dumped.

As a result, the demand and price will surge, and BTC will drop due to an oversale. BTC is currently as high as it is going to get for the moment, while the altcoins are at their lowest, so such a strategy does make sense. Later, when the altcoins reach their respective peaks, and BTC hits bottom, the situation will get reversed once more, and BTC will see demand and hype.

In the end, the best anyone can do now is sell BTC, and buy altcoins, and then return later, once the largest crypto hits bottom. The price will crash whether you participate in a selloff or not. You can at least make a profit instead of losing your investments.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Artyom Kulakov from Pexels

Bitcoin

Is Bex500 an alternative to BitMEX?

Published

on

Bex500
READ LATER - DOWNLOAD THIS POST AS PDF

An all around review of Bex500

Bex500 is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex500 has enough strings to attract many crypto traders. 

Those dissatisfied with the old exchange, may find Bex500 exchange with a stable system with no manipulation or “overload”, pleasant UX, user-friendly tool kits, and around-clock customer service.

Bex500 says they are making crypto margin trading “easier” and giving you a better return. 

Can they really achieve that? We conduct a comprehensive review as below to see if it is a trustworthy exchange

Question 1. What features does Bex500 have?

Bex500 offers perpetual BTC futures as well as three other cryptos including ETH, XRP and LTC, all paired against USDT. You may find Bex500 doing a good job aggregating most important features traders need for a robust trading experience with better return.

-A fair trade with no overload

Many traders are familiar with “overload” problem, which disables placing orders in peak trading times. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.

Bex500, with its unmatched TPS (claimed to be over 10,000 orders per second), ensures that the trading…

Continue Reading

Bitcoin

How Bitcoin Has Changed Online Gaming

Published

on

online gaming
READ LATER - DOWNLOAD THIS POST AS PDF

We always hear how Bitcoin is great for the financial industry, how it can remove the middleman and help you save money while you spend money. How it can provide fast transactions at any time to any place, even when you wish to send money to someone on the other side of the world.

While all of that is true, it is important to remember that Bitcoin’s impact does not end there. The coin has already changed countless other industries, but one of the first ones that have accepted it with open arms — and therefore one that was changed the most — is the online gaming industry.

Bitcoin’s impact on online gaming

The first thing to note here is that digital currencies have found their use in online gaming thanks to microtransactions. However, it goes far beyond simply purchasing an in-game item from another player. Bitcoin’s biggest impact, without a doubt, concerns online gambling, sports betting, and similar activities.

Bitcoin brings security and anonymity

Bitcoin casino has become one of the new most popular places for an online gambler to visit, and for numerous reasons. Bitcoin brought increased security — to the financial industry, as well as online games. This is important because security is crucial for anyone who enjoys online gambling. It…

Continue Reading

Bitcoin

The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

Published

on

blockchain
READ LATER - DOWNLOAD THIS POST AS PDF

Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation

There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated. 

A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified. 

Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders. 

Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:

Unprecedented security

The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…

Continue Reading

Elite