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The most important terms to know in the field of digital currencies
āBull marketā: which means ābullish marketā: it refers to a market in which cryptocurrency prices generally move upward for a certain period of time. āBear marketā: which means ābear marketā: it refers to a market in which prices are... Cryptocurrencies are generally in a downward trend. Altcoin: Any cryptocurrency other than Bitcoin. ATH: represents the highest price level the cryptocurrency has reached. ATL: represents the lowest price level it has reached. Cryptocurrency mechanism āLAMBā or āLAMBOā: This is the term used as an abbreviation of the word Lambor Guinean, indicative of how quickly one can expect to get rich, given current market conditions. It is also often used to indicate the opposite; It is someone who loses a lot of money during recessions. Whale: A term used to describe very wealthy investors or traders who have enough money to manipulate the market. Rugpull: Refers to a cryptocurrency strategy. Fake, where the crypto developers abandon the project and run off with the investors' money. Arbitraj: This refers to buying from one exchange and then selling to another exchange if the margin between them is profitable, as multiple exchanges trade the same cryptocurrency on any link, and they can do so at different prices. To the Moon: Investors use this term or send a rocket emoji when they think the cryptocurrency will boom. Mining difficulty: One of the first concepts that comes to mind when Bitcoin terms are mentioned is mining, which is the process of creating... New cryptocurrencies by solving complex mathematical problems which are then verified and added to a shared database network Buy the dip:Ā refers to the idea of āābuying cryptocurrencies when prices fall to reap the benefits when they rise again D-Fi " (DeFi): Decentralized Finance refers to the growing ecosystem of applications and services that leverage blockchain technology and cryptocurrencies to provide decentralized financial services to users. CeFi: Centralized FinanceĀ offers new loan and savings products focused on... Cryptocurrency, but within a traditional centralized framework, where users create accounts and provide credentials as well as access customer service TA: Fundamental analysisĀ is a method of evaluating a particular asset as well as predicting its future performance Memecoin: Coin An alternative based on sarcasm, a type of joke in the form of an image that is repeatedly modified and shared over the Internet. P2P: A term that refers to a transaction between two people without the intervention of an intermediary or central authority. Pos. Proof of Stake Another alternative to proof of work includes: A reward for miners who ācryptoā; They provide their computing power to the network in exchange for this miner's investment in the cryptocurrency. So if a miner has 3 tokens, he can earn only 3 tokens Airdrop:Ā An event where a blockchain project distributes free tokens or cryptocurrencies to the community Dumping:Ā A dumping process Large amounts of cryptocurrencies at one time on exchanges causing prices to fall because there is more supply than demand for a cryptocurrency To the Moon:Ā Investors use this term or send a rocket emoji when they think a cryptocurrency is going to boom
Swiss Online Bank Launches Automated Cryptocurrency Lending Product
According to Foresight News, Swiss online bank Dukascopy has introduced an automated cryptocurrency lending product for its customers. To access this service, users must open a multi-currency account (MCA) with the bank. Once the supported cryptocurrencies are transferred into the account, users will receive 50% of the transferred cryptocurrency's value in US dollars in their MCA account, while the other half will be transferred to a trading sub-account. At the same time, the user's trading account will open long positions equivalent to the transferred cryptocurrency amount at the current price, in order to maintain the user's cryptocurrency investment position.
Currently BTC is in the discounted zone in the previous daily Break of Structure and we have spotted a demand zone and the previous month mid range support . They both acting at one zone( so it can be a good demand zone for bulls to bounce ) Also the previously broken descending resistanceā retest also around the same area of the demand zone ( you can see in the picture)
Bears will be strong in case if BTC close daily below the mid line of the previous month and break below the demand zone ( which can be labeled as a deviation happened above the descending resistance.
Watch carefully use low leverage and low margin to survive when trading !
BTC Could Crash to $12,000, Do You Believe This Will Happen?
Youtuber expressed his unbelief in Capoās prediction of BTC crashing to $12,000.
BTC had a dodgy start to the week, then consolidated before crashing.
If BTCās newly established uptrend continues, then, it could reach $30,000.
Crypto Youtuber Crypto Rover expressed his unbelief in a prediction made by Capo. Capoās prediction forecasted that Bitcoin would drop to $12,000 before spiking again. This meant that BTC could break the support level at $25,200 and thereafter break the support at $19,000-$20,000 before reaching the $12,000 level. It could have either been his expert technical knowledge or his strong faith in BTC that could have created this unbelief in Rover.
Capo is calling for a $12,000 #BitcoinDo you believe this will happen? pic.twitter.com/yEcRlvaZmJ
ā Crypto Rover (@rovercrc) October 11, 2023
When considering the behavior of BTC during the past week, it was priced at $27.65K when the markets opened for trading for the week. During the first few hours of day one, BTC gained value and thereafter crashed below the opening market price.
BTC/USDT 1-Weel Chart (Source: CoinMarketCap)
The dawn of the second day brought some hope. BTC started to trade between $27.75K and $28.25K for the next three days while registering its highest price of $28,227 on the second day. Although BTC tried to consolidate on the fifth and sixth day just below the opening market price, it wasnāt able to. BTC started crashing mid-way on the sixth day and kept decreasing until the seventh day. Currently, it is trading at $26,904 after experiencing a decrease of 2.72% in 7 days.
BTC/USDT 1-Day Chart (Source: Tradingview)
When considering the above chart, it can be noted that there has been a new trend established for BTC. It is currently gaining value and there is a high chance that it could reach $30,000, given that this trend continues. Once, this above-mentioned resistance is broken, then, BTC may try to reach the $31,500.
However, there seems to be some selling pressure building, as such BTC could fall. In the event that BTC is to fall, then, thereās a high chance that it could test the $25,300 level. If the above said support is broken, then, BTC may test the $19,000 level. If more and more traders sell BTC, then it may seek the assistance of $12,000. The Accumulation/Distribution Line reads a value of $10.6M and the line seems to heading downwards. This indicator supports the bearish thesis.Ā
The post BTC Could Crash to $12,000, Do You Believe This Will Happen? appeared first on Coin Edition.
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