Bitcoin 50-Day MA Is Moving Below The 200-Day MA Right Now

As pointed out by an analyst in a post on X, the 50-day moving average (MA) has been attempting a cross below the 200-day MA recently. A “Moving Average” is an analytical tool that calculates the average of any given quantity over a specific period of time. As its name suggests, it moves and changes alongside the quantity in question.

The main benefit of an MA is that it removes short-term fluctuations from the data, smoothing out the curve. This makes the study of long-term trends easier to perform.

MAs can be taken over any length of time, whether that be a minute or a decade. There are some periods that are particularly useful, however, like the 50-day and 200-day MAs, which are of relevance in the current discussion.

The interactions between these two Bitcoin MAs have apparently had consequences for the asset’s trend in the past, and the chart below shows how these two MAs have looked recently:

Historically, whenever the 50-day MA has dipped below the 200-day MA, the cross has proved to be a bearish one for the cryptocurrency’s price. In the above graph, it’s visible that the last time this type of crossover occurred was in January 2022.

Back then, the asset had been on its way down from its November 2021 all-time high and the death cross may have cemented the asset’s fate, as a long bear-market drawdown had followed afterward.

The opposite type of crossover, where the short-term MA moves above the long-term one, has generally been a bullish cross instead, as the asset has usually enjoyed uptrends following it. This crossover had been seen earlier in this year as well, after which BTC had gone on to see some significant rise.

Recently, however, as the cryptocurrency’s price has been struggling, the 50-day MA has started to go down and has now neared the 200-day MA. If the former continues in this trajectory and completes the cross below the latter, then another death cross would form for Bitcoin.

Such a cross would be an ominous sign for the asset, as it could imply that a significant drawdown may be ahead for the coin. So far, though, the bearish cross hasn’t been fully confirmed yet.

It now remains to be seen if the death cross will be completed in the coming days, or if BTC would turn itself around before it happens, leading to the 50-day MA pulling away from the 200-day MA for now.

BTC Price

Bitcoin has gone through a bit of a rollercoaster in the past two days, as its price had first dropped towards the $25,100 level, but has since already recovered above $26,100.

Source: newsbtc.com

follow and comment ✌️🇦🇫

Stay safe and green

#crypto2023 #Binance #pepe #CYBER #BinanceTournament $BNB $ETH $BTC

These days, when the market is in a downward trend, some altcoins are managing to stand out with positive performance. One of these coins is CYBER. The popular cryptocurrency was listed on the Binance exchange as of August 15. But the overall market suffered a downturn due to the sell-off, and now the situation seems to be turning around. How long will this upward trend last?

#CYBER Coin

The CYBER token of the web3 social network CyberConnect has recently achieved one of the biggest leaps in the subsidiary Sunday with more than a doubling in value. Accordingly, transaction volumes also increased. In the last 24 hours, the token, worth $ 225 million, has changed hands on crypto exchanges, an increase of about 10 times compared to Monday's volume of $ 30 million.

However, investors may need to be careful about CyberConnect. As the Asian-backed excitement spreads to Turkey and other regions, the price is also starting to cool. Recently a Friend.similar projects such as tech have achieved gains of over 95% in a very short time. This reminds us that in bear markets, excitement can quickly fade out and lead to big losses in prices.

CyberConnect allows developers to create applications on the blockchain for digital identity and content production.

CYBER Coin Price Analysis

The price showed a 355% increase in the weekly candle. Cyber Coin, supported by the Binance exchange, started this bullish movement on August 29. The increase experienced before the Grayscale decision led to a further increase in demand after the announcement of the decision. Investors probably looked at the altcoin, which showed the highest increase when the court decision was announced, which led to an increase in demand.

Then we saw that the price continued to rise due to excessive demand from investors in Asian markets. Remember the rise of PEPE Coin at the beginning of June. Bear markets observe abnormal price increases that last for several weeks. PEPE Coin was an example that needed to be learned. Now it seems that CYBER Coin is following the same path.

In the short term, the critical price levels are $ 10.68 and $ 8.6. If profit-taking begins, we may see a new bottom after the peak of $ 16.2. #bitcoin #Binance $CYBER

How Does the #Shiba Inu (SHIB) Burn Work Everything You Need to KnowShiba Inu (SHIB) has an interesting burning mechanism, so let’s have a quick look at how it works.Token burns have become particularly popular throughout the past years in the #cryptocurrency market as more projects are resorting to this method of reducing their primary token supply.The process of burning tokens, however, is different and varies from one project to another, with the only common denominator being its purpose.That’s why it’s important to fully understand how a project’s tokenomics, particularly associated with token burns, will affect its supply-and-demand dynamics and what it actually means. With Shiba Inu (SHIB) becoming one of the most popular ecosystems in the industry, with millions of holders and community members, the following piece is aimed at demystifying some of the technicalities behind it.First, we have to answer the most pressing question.What is a Token Burn?We have dedicated a guide on cryptocurrency token burns that you can find here.In brief, token burns refer to the process when #crypto projects undertake certain actions to permanently destroy (burn) a number of tokens from the existing circulating (or not) supply.The most common way to do this is by sending the burn tokens to a specific address that cannot be accessed by anybody. This address is usually referred to as the “burn address.”The total supply of the token is reduced in the process, which carries a number of implications, both technical and economic. For example, removing tokens from the supply has the possibility to make the existing ones more valuable by making them scarcer. The reasons for burning vary, and each team seems to have its own justification.Enters Shiba Inu (SHIB) :-Shiba Inu is a cryptocurrency with a tremendous token supply – 999,992,188,828,143, to be precise. The community has long set its eyes on the coveted price target of 1 cent, but with a supply so high, it would take billions in buying pressure to achieve.In a bid to offload some of it and reduce the supply, the original Shiba Inu (SHIB) team sent half of it to Vitalik Buterin’s address. This was one of the first instances when a project has done something of this kind and it turned out to be a very good strategic move.First, it gave the project massive visibility – suddenly, everyone was talking about SHIB, and its epic rally took place a couple of months later.Second, it was safe to assume that Vitalik wasn’t going to dump billions of dollars worth of SHIB on the market as it would cause an uproar among the mainstream investors who comprise the main cohort of SHIB holders. So, what did Buterin do? Well, he burned 90% of it, worth around $7 billion at the time, and sent the rest to a charity related to COVID in India.The Shiba Inu (SHIB) Burn :-The burning mechanism introduced by Shiba Inu’s team is briefly mentioned on their official website. Technically, it seems to be a more complicated process, and besides manual burns, it also comes with an automated component based on the performance of Shibarium – the recently released layer-two network. It appears that SHIB is supposed to be burned every time there is a transaction on the network:This will operate within the base gas fee of these transactions being utilized to burn $SHIB through our renewed Burn Portal. This will occur every time a transaction is made on the network.”A well-known participant in the SHIB community and founder of ShibaWeavers, ShibInformer, recently stated:Shibarium needs to reach a certain value of BONE accumulated. Each time this value is reached, it will be possible to burn SHIB in the Ethereum network.Manual SHIB Burns :-Manual SHIB burns seem to be the more powerful mechanism through which the community is destroying tokens out of the total circulation.In essence, people have the option to transfer a designated number of tokens to a special burn address in exchange for a reward in the form of a unique token.When Shibarium launched, users burned some 20 billion SHIB tokens using the new ShibBurn portal that was seamlessly integrated within the ShibaSwap exchange.Conclusion :-Shibarium itself didn’t launch without hiccups, and it’s likely that the system will be fine-tuned in time. The team is constantly outlining various priorities and is active in developing new functions.It’s interesting to see how this will impact SHIB’s tokenomics in the future and whether or not it will continue to burn. 

$SHIB

#CYBER

#crypto2023

A closely followed crypto analyst believes that one low-cap altcoin that defied the market doldrums last week is not yet done rallying.

Pseudonymous analyst Altcoin Sherpa tells his 196,200 followers on the social media platform X that he’s keeping a close watch on the social network altcoin CyberConnect (CYBER).

The altcoin caught the attention of crypto traders as it rallied by more than 326% last week to an all-time high of $15.79 on September 1st.

While CyberConnect was in the midst of its explosion, Altcoin Sherpa warned that the coin was in a position to witness a deep corrective move, saying that traders should be on high alert as CYBER printed an all-time high.

“This current area is a place to watch out for… Everyone shorting like crazy and getting ran over, then you see a massive dump later on.”

Altcoin Sherpa

At time of writing, CYBER is trading for $7.32, down over 40% in the last 24 hours.

With the correction in play, Altcoin Sherpa predicts that CYBER will eventually regain its bullish momentum en route to printing a fresh all-time high. However, it’s unclear when Altcoin Sherpa expects CYBER to hit his target.

“But [it] wouldn’t surprise me at all to see this go to $17 eventually.”

A move toward the $17 level suggests an upside potential of over 132% from current prices for CYBER.

*Disclaimer:

This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.

#CYBER #crypto2023 #BinanceTournament $CYBER

Investors in the United States have in the recent times have apparently shown a renewed interest in purchasing the #XRP token.

In a welcome change in trading pattern, investors in the United States have apparently shown a renewed interest in purchasing the XRP token, in context of the US SEC lawsuit judgment. According to on chain data, the token buying was higher on Coi_nbase throughout August 2023.

Data from K_aiko showed that there was a rise in sell volume ratio with world’s top #cryptocurrency exchange Bin_ance while at the same time, Coinb_ase saw a rise in buying pressure. Also, the average trade size of the XRP buyer in the US based exchange has also risen, more than any other top 10 altcoins, the data showed. Interestingly, the reversal in buying pressure in the US comes after the July 2023 Summary Judgment in the U.S. Securities and Exchange Commission (SEC) lawsuit.

During the same time period, the XRP price saw the loss of gains it saw following the historic judgment, which deemed that the programmatic sale of tokens to retail buyers was not securities. In terms of the enterprise software business, Ripple witnessed the re-engagement with the United States based clients, a development that plagued the company since the SEC filed the lawsuit in December 2020.

In the most recent development, the company had in a filing with the United States District Court for the Southern District of New York opposed the US SEC’s efforts to certify an interlocutory appeal. The #Ripple lawyers argued that the agency officials are contesting the Court’s interpretation of the Howey test. Regardless of the outcome of the request for appeal, both the parties have expressed their availability to participate in trial proceedings in the second quarter of 2024, until which the Summary Judgment holds the status quo.

$BTC $XRP $DOGE

#crypto2023

#CYBER