Monero/Bitcoin Trading forecasts and signals

On the penultimate day of the working week, the cryptocurrency market shows a moderate decline. Bitcoin has been losing almost 5% over the past day and is trading around $33,500. Thus, the recent price rebound was almost completely compensated. The inability to overcome the threshold $40,000 dollars results in increased bear pressure. As before, the phrase “what does not grow – falls“ is extremely relevant for the crypto market. So far, the scale of the decline is not critical for the market, and a drop up to $30,000 will not mean a reversal of the broad trend. However, if we see a decline to $29,000 and below, this situation may well provoke panic sales. However, it is worth remembering: the more panicky we see sales, the more aggressive the purchases of hunters for discounts will be.The latest episode of the sale on the cryptocurrency market during the last quarter was associated with tough actions of regulators, the emergence of concerns about the possible curtailment of the incentive policy, loud populist statements regarding the non-environmental nature of bitcoin, as well as a decrease in institutional demand for digital currencies. Although sales have somewhat stabilized, the main cryptocurrency remains squeezed in the range between $30K – $40K.The hashrate of the bitcoin network has stabilized after a long period of decline due to the relocation of miners and the shutdown of equipment. Market participants assume that the most difficult moment after the statement of the Chinese authorities about the need for miners to curtail their activities in China has passed. At the moment, the computing power of the network is far from peak values. However, no one doubts that soon the miners will turn back on their equipment and the hashrate will begin to grow. This situation will bring the crypto market a more significant diversification of computing power, the distribution of mining plants around the world, but for China, the loss of control over the computing power of Bitcoin can turn into unpleasant consequences.Nevertheless, the country's authorities should have kept the competitor as close as possible, and not created conditions for even greater global attractiveness of the asset. After all, the more decentralized Bitcoin is, the higher its value in the long term. The relevance and need for Bitcoin is only growing as financial nuts are being tightened in all economies of the world. The world economy has very quickly gone from total globalization to a virtually global trade war. The policy of central banks gave birth to Bitcoin, which has undoubtedly become one of the iconic symbols of the new era and has the potential to turn into a separate ...

Bitcoin fell sharply on Thursday after a new statement by the Central Bank of China.The first cryptocurrency fell by almost $2,500, approaching the lows for a week and a half around $32,000.Bitcoin and stablecoins have turned into speculative instruments that threaten the security of the financial system and social stability, vice Chairman of the People's Bank of China (PBOC) Fan Yifei said on Thursday.According to him, it was the threats coming from the first cryptocurrency and stablockins that caused the introduction of restrictive measures. Yifei promised that in the near future Beijing will introduce new measures against the cryptosphere.Answering questions from journalists, Fan Yifei pointed out that private digital currencies and central bank digital currencies (CBDC) should be separated. China will continue to actively promote the digital yuan and will use it during the 2022 Winter Olympics, which will begin in February.Calls for the introduction of strict restrictions on mining and crypto trading were made by the Chinese authorities in mid-May. In June, four provinces of China completely banned the mining of cryptocurrencies, and banks and other financial organizations of the People's Republic of China were banned from conducting operations related to digital assets.As a result, more than 70% of miners were forced to turn off their equipment to move to other countries. The hashrate of the first cryptocurrency has decreased by more than 50% in a month.Against this background, bitcoin has fallen by 20% in two months. Experts agree that if the Chinese authorities continue to put pressure on the market, then a further decline in bitcoin is ...

The past week was the worst for the crypto market in history amid negative news.Bitcoin has fallen by 24% in a week, and altcoins from the top ten have lost from 41% to 60%.The total capitalization of the crypto market, according to CoinGecko, has sunk by 38% over the week.To the criticism of Bitcoin from Elon Musk, the actions of the Chinese authorities were added, which announced on Friday that it would fight the mining of cryptocurrency in the country. The authorities are trying to protect the financial system and at the same time reduce carbon emissions.The ban on mining digital coins caught the industry by surprise. These measures may affect the entire cryptocurrency industry, as 65% of the Bitcoin hashrate is accounted for in China.Earlier last week, Chinese regulators announced their intention to ban the use of digital tokens in financial transactions.On May 20, the US Treasury Department announced a new proposal by the Joe Biden administration to strengthen tax compliance — to require Bitcoin exchanges to report transactions worth more than $10,000.According to the US authorities, digital assets are a serious problem. They promote illegal activities, including tax evasion. Presumably, the new measures will come into force from 2023.Gary Gensler, who heads the Securities and Exchange Commission (SEC), believes that it is necessary to develop a mechanism that will protect the interests of holders of digital currencies.The SEC recently urged investors to refrain from trading with Bitcoin-focused products.A possible SEC investigation into Tesla CEO Elon Musk on suspicion of manipulating the crypto market may become one of the negative impulses and lead to the fall of ...

Dogecoin (DOGE) jumped 20% on Thursday after another tweet by Elon Musk mentioning the cryptocurrency.The seventh cryptocurrency showed the second best dynamics after Cardano in the top ten of the CoinGecko rating.The cryptocurrency market on Wednesday was recovering from a sharp decline the day before. Bitcoin rose 4%, rising above $42,000 on the day. However, the level that was previously support did not allow the rise to continue.Dogecoin rose 15% to $0.40, but jumped above $0.43 on the day.The Tesla founder posted a post on Twitter with a photo of a Dollar bill, which depicts the Dogecoin logo, and the inscription "Cyber Viking"."How much does this Doge cost in the showcase?" asked Musk. After that, he wrote that he "did not sell and will not sell DOGE".In response, some users expressed their dissatisfaction, while others said that they "lost everything" because of the businessman.On May 17, users released the Fuck Elon Tweet token (FUCKELON) to demonstrate disdain for Elon Musk's tweets that affect the cryptocurrency market.Ethereum founder Vitalik Buterin, meanwhile, said that Musk's influence on the crypto market will weaken over time."Elon Musk's tweets are something that the cryptocurrency space first encountered literally last year and this year. I think some recklessness is quite natural, but the market will adjust. Musk won't have that kind of influence forever," he told ...

The cryptocurrency market is now developing at a very fast pace, so fast that even teenagers are already in the topic of digital coins, crypto trading and free receipt of currencies through airdrop. Now digital currencies are trending, and some users earn good money on them. However, such a prevalence of this topic does not mean a high level of literacy in it. It happens that all digital coins are declared altcoins, and cryptocurrencies are called tokens. Such errors look especially awkward in the articles of the so-called "experts" and "experienced cryptocurrency traders". Let's analyze in detail the concepts of cryptocurrency and digital tokens in order to try to prevent such common mistakes. Let's consider the key characteristics of coins, the specific nuances of tokens and digital currencies.What is a cryptocurrency?Let's start with an analysis of this concept, because many began to earn on cryptocurrency, without even understanding the essence of this tool.Virtual currency is primarily understood as a unit of account with unique properties, one of which is the recording of information about the movement of digital currency on the basis of a distributed registry of a cryptographic system. In other words, all actions and information about the storage of the coin are recorded in free blocks of the blockchain or its branches-sidechains. Blocks, meanwhile, are formed by miners who earn coins on crypto farms through solo mining or conventional mining. With the help of the computing power of the devices, miners create free cells in the network database. The cells record the history of those coins that are circulated within the network space consisting of nodes (working nodes) representing users' computers.There are two main groups of cryptocurrencies – bitcoin and coins launched after bitcoin, called altcoins. Before bitcoin, there were coins that represent a separate group without a name.Altcoins are coins that are alternative to bitcoin, for example, ethereum, verge, monero, ripple and others. They are formed in the following ways:Through soft forks (the base of the slightly modified bitcoin blockchain);Through hard forks (the blockchain of bitcoin, changed greatly), which also allow you to create sidechains that give new coins additional characteristics;Through completely new blockchains, in which unique cryptocurrency parameters are created.Read more: What are AltcoinsWhat is a token?A token is another type of digital asset, completely different from a full-fledged cryptocurrency of an existing blockchain project. Only some options and involvement in virtual money combine a cryptocurrency and a token. Of course, a token is a financial instrument used by companies, project creators and users. As a rule, a token is a kind of debt obligation of the issuer to provide a service or a product. Often, inept users call a cryptocurrency a token, despite the fact that the token structure does not include a classic blockchain. The program code that forms the constructive architectonics of the token is an add-on of the blockchain block chain, borrowed from the basic virtual cryptocurrency system. In other words, the token is a cryptomonets application.At the moment, digital tokens are widely used due to the fact that there is a gradual introduction of blockchain technologies into everyday life. For example, blockchain technologies are used in logistics, healthcare, finance, and so on. Thus, tokens can be created to solve various local problems. Most often, tokens are mentioned in conjunction with a specific unfinished blockchain project, the system coin of which does not function without launching the network. The token, which acts as a superstructure of the cryptocurrency, performs some of its functions, later reuniting with the blockchain and broadcasting all the recorded information.History of Token CreationThe tokens were created in 2013, when the first ICO of cryptocurrencies was made when creating a new blockchain project.At that time, specialists created an intermediate link with specific functionality that allows bringing investors and developers of the blockchain system closer together. Thus, a token was formed with certain conditions of cooperation, which allows you to receive investors ' deposits in a simpler form. So, even an unfinished, completely new blockchain project with its own cryptocurrency can receive the necessary funding at the final stage of development. Meanwhile, investors receive internal tokens, which are later transformed into cryptocurrency. Of course, there are also not so successful results of investing in a digital currency. More than 75% of ICO cryptocurrencies with tokens are failed or fraudulent. However, this is a completely different story.To sum up, the token is only a temporary similarity of the share of the main blockchain. The development of such a mechanism was initiated by the emergence of the Ethereum platform, the capabilities of which allow you to create new tokens. Now tokens are being developed in other places as well.Read more: What is an ICO?Why do I need tokens?The scope of application of tokens is very wide and becomes even wider with the spread of blockchain technologies. A token, unlike a cryptocurrency, can:Used to pay for services or goods;Demonstrate the share of users in a joint-stock company;It can be used as an internal currency that is traded only within a closed cryptosystem;Be used as a valuable reward for specific actions, for example, in social networks, on gaming sites, etc.;Act as a tool that demonstrates certain values (for example, the amount of free GB for installation, etc.).Read more: What is a spread in trading Forex and stocks Types of tokensDepending on the specifics of the role, there are tokens:Currency ones. Such tokens perform part of the functions of a digital currency, they can be paid, rewarded or used to save capital. There are no intermediaries in this case.Stock (tokenized securities). Such tokens are a complete copy of the share in the share capital, which gives the holder certain powers.Application tokens. They are called user or service ones. Such tokens are a kind of key that allows its owner to access a certain amount of the company's services or its goods. In other words, it is a digital obligation that restricts the provision of something valid, real.Tokens are assets that are translated into the blockchain code format and are equal to a set of physical values. Thus, some types of gold reserves are converted into tokens, since it is much more convenient to exchange digital assets online without actually transferring a material instrument.Reward tokens and reputation units.At the moment, the most popular type of tokens is the one that demonstrates professionalism, activity level and rank of the participant on the platform. They allow you to purchase artifacts in games, improve heroes and their skills.Read more: Blockchain technology: how it works and where it is usedHow are tokens similar to cryptocurrency?Despite the fact that many people try to call the token a cryptocurrency and vice versa, these assets are almost completely different. There are only four similarities identified by experts:Cryptographic encoding protects the structure of both the token and the cryptocurrency;Both assets perform the functions of electronic money, and therefore they can be stored in wallets;Transactions with currencies and tokens occur quickly and with small commissions;There is an opportunity to earn on both assets.On the contrary, there are a lot of differences between a cryptocurrency and a token. It is important to note the following:The issue of tokens is not only decentralized, unlike the issue of cryptocurrencies. Tokens are also issued in a centralized way using the management of the organizer of the blockchain project. In addition, tokens are issued all at once, and the cryptocurrency is in the process of mining;The exchange rate value of tokens depends not only on market factors of supply and demand. In addition, the amount of remuneration, compliance with the real asset and the rules of issue affect;Operations with tokens are easily processed centrally;The token does not have its own blockchain or sidechain, unlike cryptocurrency. It functions on the basis of an already created platform;The basic functions of a cryptocurrency and a token differ. So, tokens are a kind of" coupon " that allows you to get services, goods or a share in the project. Cryptocurrencies also create a convenient space for the interaction of participants in transactions – a comfortable exchange of value values;The token is tied to a specific project and acts as a means of payment in a specific blockchain, the basis of which is cryptocurrency. A token cannot function without a cryptocurrency, and a cryptocurrency without a token is safe;The token can be used more widely. At the same time, the cryptocurrency is a larger-scale tool, since it is used not within the project, but throughout the digital economy.Thus, there is a strong difference between tokens and cryptocurrencies on the face. The specifics of a particular blockchain project affect the functions of the internal token: whether it will serve as a share, a reward tool, a currency, a valuable asset or perform a service function. At the same time, cryptocurrency acts as a means of payment and a carrier of financial information. Moreover, an investor can earn money on a token only in the case of investing in an ICO or resale, which can not be said about cryptocurrency. Before working with a token, it is worth carefully analyzing the blockchain system in which it "lives", its prospects as a cryptocurrency in the ...