Weekly Crypto Forecast ( Weekly News of Crypto )
Weekly News of Crypto – It’s been yet another brutal week for Bitcoin but the fundamentals continue to flash bullish, the one indicator I’ve been watching closely is the amount of BTC held by whales, and as you can see here, that amount continues to grow, even as prices fall, we aren’t out of the woods yet though, and I know this because bitcoins dominance is still remarkably low Bitcoin dominance basically means how much of the cryptocurrency market cap is BTC.
Now historically, Bitcoin dominance will drop like a rock. When we’re approaching the peak of the bull market, retail investors pile into all coins in search of the next Bitcoin, so they can get rich quickly. Although we did see some of that a few months back, we didn’t even drop down to the previous lows as far as Bitcoin dominance goes for the market to reverse, I believe we need to see bitcoins dominance go higher, possibly to the mid 50% range.
This will basically confirm that all the greed has been washed out of the market and the Bull Run can continue. This week’s winners are nem, Raven, coin. The okay X token Hadera hash graph and xe infinity NEMS price pump are coming from the hype over its partnership with the Colombian government. This will see the Colombian Ministry of technology use NIMS symbol blockchain in some of its operations.
Oddly enough, the NEMS symbol blockchain has its own token called x y m, which did not react at all to the news. This is not all that surprising when you pull up the name’s price chart, and realize that the recent pump is more of a speed bump on an otherwise speeding down.
Now I couldn’t seem to pin down what was causing Raven coins positive price action, but my best guess is speculation about a potential listing on the cracker exchange. Alternatively, it’s possible that Raven coin’s price is being manipulated by whales. This is very much within the realms of possibility, given the most of rvn supplied is held by the top dozen also wallets.
Once again, we can see the same disappointing downtrend, on the Arviat chart, with the recent run-up barely registering, when you zoom out on the day. It does look much better than the net. Okay, x is an okay token is rallying for the same reason BNB has been holding up so well and that is token burns. but the TLDR is that exchanges actively buy back and burn their own tokens, using a cut of the trading fees,
which obviously pumps up the price, okay b definitely has the edge right now as okay x is not currently being targeted by regulators, the way finances. But that could change on a dime, which is why I personally shy away from Exchange tokens.
Next, we have hedera hashgraph Who’s h bar token has seen a modest move to the upside, thanks to a series of crypto partnerships, the project has secured over the past week. In contrast to the other weekly winners I’ve mentioned so far, H bars still seem to be in somewhat of an uptrend, though it’s still only about 50% above its Ico price of 12 cents.
Last but certainly not least, we have the A access token belonging to the XE infinity NFT game, which continues to see 10s of 1000s of users on a daily basis, in spite of the current market conditions exist, it seems to be cooling off from a massive price bump, which began earlier this month. Among the drivers of this move is Axys announcement that it will be putting together a huge community-funded eSports competition. ( Weekly News of Crypto )
Apple Bitcoin Rumor
If you’re addicted to Twitter, you might have heard of the rumor that Apple had purchased more than $2.5 billion of Bitcoin.
Obviously, this has not been confirmed, but there is some evidence to suggest that a Bitcoin bite could be on the table for this trillion-dollar company. For starters, Apple is apparently looking to integrate cryptocurrency payments. This is because Apple posted a job opening back in May for an alternative payments manager experience required.
I have years working with cryptocurrency payments and digital wallets. This isn’t just some experiment, either. Analysts believe that Apple could increase its revenue by nearly $40 billion. If it integrated cryptocurrencies. Now, while others have rightly pointed out that Apple isn’t a company that does anything too controversial. It might have been backed into a corner by the current pandemic.
There’s currently a chronic microchip shortage, and this has led to billions of dollars in backlog orders for everything from phones to cars to smart fridges, Apple is known to invest heavily back into its core products, rather than expand into new industries, the way that other tech giants such as Facebook have done, what happens when you’re unable to invest back into your business because a supply chain issue is preventing you from even demoing any innovative product, you end up with a lot of cash on hand.
Now, whether some of that cash will find its way into cryptocurrency isn’t certain, but there’s a limited amount of places you can put it these days, and holding on to it means losing purchasing power, thanks to inflation. More importantly, Bitcoin is becoming greener by the day, and this will likely inspire Tesla to jump back on the Bitcoin train. Now it would not surprise me in the slightest if Apple followed suit. For More Read Apple Bitcoin Rumor.
Bogdanoffs And Bitcoin
In an honor interview with French media, the infamous Bogdan of brothers said they were in contact with Satoshi Nakamoto through a Japanese scientist, and played a role in bitcoins development in its early days. For those unfamiliar, Igor and Grishko bogged down off, is kind of like the French version of the Winklevoss twins in their famous intelligent, very wealthy.
And there are two of them. Most of you will probably recognize them from the bog meme. Now, this meme was popularized by a 2018 video by YouTuber biz Annachi which showed the bogged down of twins, manipulating the crypto market. Oddly enough, the twins claim the Bogdanov meme was probably created by Satoshi Nakamoto in 2010 or 2012 for reasons.
The crazier claim is that they were in contact with Satoshi Nakamoto via a Japanese scientist who was working in a lab with Francois Mizzi, the inventor of touchscreen technology. They also said that Satoshi gave them a quote to ancient bitcoins back in 2008 before the Bitcoin Blockchain actually went live.
It should go without saying that is a pretty high likelihood that this is a whole bunch of hogwash. Given that the twins completed the segment by shilling, their upcoming cryptocurrency. In other words, it was probably just a PR stunt to attract attention to their new token, especially since they’re known to make exaggerated claims like these from time to time. But then again, who knows, Maybe they really do control the crypto market. # Weekly News of Crypto
Uniswap On Optimism Weekly News of Crypto
Meanwhile, the Ethereum ecosystem, the first of many decentralized applications, has launched in a limited form on its long-awaited scaling solution, dubbed optimism, without getting into the weeds, optimism, leverages a technology called roll-ups, wherein multiple transactions can be bundled into a single transaction on the Ethereum blockchain.
Other ethereum scaling solutions like LoopRing use the same technology, but the difference is that the roll-ups they use, make it very difficult to simply copy and paste decentralized applications from Ethereum uni swap is the first major Aetherium DAP to deploy on optimism, though there is a limit on the number of trades the decks can handle per day, It can currently support both the assets and the assets.
Even so, swaps on optimism cost a fraction of what they do on Aetherium and they are confirmed within seconds, rather than minutes. If you’re wondering what the catch is, the answer is moving between optimism and Ethereum. Although getting your tokens on optimism is easy and fast, it can take seven business days to withdraw your tokens.
This is why Coinbase will be adding native support for optimism, meaning users can withdraw their assets from optimism, instantly by Coinbase, instead of waiting for the seven-day period. This was actually why I was quite bearish about polygon which is currently Ethereum is preferred layer two. But, as with the optimism launched delayed. Another development has caught my bearish bias of guard.
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