The current image of ICP has appeared in the form of a wedge. This pattern is a rest pattern that appears midway through an uptrend. If the late wedge is confirmed, then ICP will continue to trend upward.
Wedges mostly occur after the market is extremely active, prices fluctuate violently, and almost rise in a straight line. Severe fluctuations are the conditions for generating wedges. Because ICP rose too quickly last week, the market must correct, and the wedge is one of the main forms to complete this rest process.
To confirm the wedge shape, you should pay attention to the following points: First, the flagpole formed by the linear movement of the price in the early stage. Second, the wedge cannot last too long, otherwise it cannot be considered a break. Third, volume was high both before the wedge formed and after it was broken. During the formation of the wedge, trading volume gradually decreases from left to right.
At this stage, as the cryptocurrency cycle turns from bear to bull, the main tone of market analysis is still bullish. If you want to obtain greater expected returns in the bull market, I personally recommend learning about finance, investment, and securities investment. These necessary basic knowledge can make our analysis easier and more effective, and also put us in a better state of mind.
I won’t take any responsibilities of readers’ invest. Before you start your invest, you must take full researchs and analysis. Also you should be responsible for your invest. Please make sure that you are fully understand the words below.
Please pay attention, articles and news in my account are just my personal invest analysis and can not be considered as financial advice. Invest in cryptography is high risk and you may lose all your positions that you invest in.
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ICP technology is more advanced than SOL, and its storage and transaction costs are much lower than SOL, but its popularity and coin price are difficult to surpass SOL, which I think is very regrettable.
The yield of ICP on Binance has been lowered again, which should be one step closer to the bull market. Inflation is falling, deflation is increasing, and we are slowly entering a virtuous cycle.
A few days ago, I saw a video on Bilibili that showed how ICPEx can create its own cryptocurrency. This is of great significance to ICP, which means that the ICP chain can also issue its own cryptocurrency at a very low cost. Combined with ICP's extremely low gas fee and extremely low information storage cost, I believe that ICP's competitive advantage will be further enhanced, and it is expected to be further aligned with ETH and SOL.
The video URL is here, you can watch it yourself: [Teaching you to create your own cryptocurrency-Bilibili] https://b23.tv/Bb0EP2M
If you want to pledge ICP for a short period of time and consider selling in this bull market, you can consider staking ICP on Binance. The staking interest rate of Binance ICP is still acceptable: the staking period is 120 days, and currently 1,000 can be pledged, with an annualized return of 8%; the staking period is 90 days, and currently 10,000 can be pledged, with an annualized return of 5%. ICP can also be pledged to NNS, but there is no return in the last six months of the staking period. At the same time, if you sell in this bull market, then calculated on a 1-year basis, the annualized return during the dividend period will not be much higher than 8%, and you also need to actively participate in voting.
Therefore, if investors consider selling in this bull market, they can consider staking ICP on Binance, because based on a 1-year period, Binance's annualized staking return is currently higher than the annualized staking return of NNS with the same staking period. However, if you are a long-term investor in ICP and do not consider cashing out in this bull market, you can pledge ICP on NNS. Because when the pledge time is longer, the annualized pledge income of NNS will be higher and can cover the interest-free period of half a year.
It should be noted that ICP pledged in NNS cannot be redeemed in advance. ICP pledged on Binance is allowed to be redeemed in advance, and will be credited 2-3 days after redemption. Therefore, if investors need to consider whether to cash out ICP at any time, it is recommended to pledge ICP on Binance. If investors want to pledge ICP on NNS, they need to be extremely cautious when setting up the pledge market, because the pledge period cannot be shortened once it is set.
I don’t know how long it will take for ICP to reach the $50 expected by Dominic Williams. Currently, ICP’s fundamentals are thriving, and we look forward to ICP’s performance in this bull market.
On January 6, 71 days ago, BTC was $44,000+ and ICP$15+. On March 6, 11 days ago, BTC was $66,000+ and ICP$15+. Today, 11 days later, BTC is still $66,000+, but ICP is only $12+.
Grandma ICP is tired, send me a red envelope. BP4YKRPQ5U, copy the code and go to Binance Payment - Red Envelope to receive it. If you receive a red envelope, remember to buy more ICP.
Now I understand more and more why I bought ICP and entered ICU, because ICP's sideways trading and decline are really uncomfortable. ICP does not rise when BTC rises, but it falls sharply when BTC falls. Even if ICP tries to make a breakthrough, it will be suppressed immediately.
Even if it costs more than four dollars, ICP makes me uncomfortable. So you can imagine how tortured ICP is by buying it for tens of dollars. ICP's fundamentals are indeed very good, but its trading is really torturous.
ICP's sideways movement is painful, which is why few people can persist into the bull market. It's a joke, but buying ICP at the bottom of a bear market is indeed a good choice. ICP was less than 1% of its highest price during the bear market, but behind this project is the Depin project with good fundamentals, capital support, and the potential to subvert the modern Internet. Then I will definitely choose to buy it. No matter how low the seed round purchase price is, the price of $3-$4 is definitely far lower than its future value. I purchased ICP in batches within a year, and I have gained more than 200% in profits. Therefore, it is crucial to get up early and intervene in batches during deep bear markets, because it is difficult to have a more accurate sense of the market after the project goes out of the independent market.
When BTC pulls, ICP basically stalls and falls. BTC is big, and ICP can actually drop sharply. BTC$66,000+, ICP$13.1. Starting from BTC$42,000+, ICP has been falling while BTC has been rising.
Now the market is like a frightened bird. BTC dropped 0.5%, and ICP will drop 5% for you. BTC dropped slightly from $62,000 to $61,500, and ICP plummeted from $13.4 to $12.8.