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Michael Wu: Bitcoin May Need to Drop Further to Attract Institutions Again

Bitcoin has been tanking hard as of late, but according to financial analyst Michael Wu, this presents several benefits that investors are not seeing.

Michael Wu: Institutions May Get Involved Again if BTC Falls FurtherIn recent months, bitcoin hit its highest position yet and was trading for approximately $64,000 per unit. This feat was accomplished in mid-April, though since then, the currency has fallen and lost about half that value, marking one of the biggest drops for the world’s number one digital currency in history.

Prior to this fall, investors were privy to the many institutions that were now choosing to get involved in the digital currency space. Companies such as MicroStrategy and Tesla were investing billions of dollars into the asset, and it really looked like the currency was unstoppable.
Crypto Fear and Greed Index Taps Low at ‘Extreme Fear,’ BTC Technicals Point to Uncertainty

On Wednesday, following the drop below the $30,000 region, bitcoin’s price has rebounded more than 8% since Tuesday’s low. Meanwhile, the sentiment metric recorded by the Crypto Fear and Greed Index (CFGI) is extremely low, pointing to "extreme fear" in the market. Despite being a scary term, the time is usually the best time to obtain assets for a lower price. However, data from Tradingview’s technicals show bitcoin is still in the "sell" range, while bitcoin market oscillators are more "neutral."

CFGI Sentiment Metric Reaches ‘Extreme Fear’The price of bitcoin (BTC) tapped a low of $29,300 on July 20, 2021, and since then the price has managed to jump back above the $32,000 handle. Despite the rebound, there’s a lot of uncertainty within the crypto space as far as short-term bitcoin price predictions are concerned.

BTC/USD chart shows bitcoin managed to climb back above the $32K zone on Wednesday.Some believe the price may plunge to the $20,000 zone again and others believe a rebound is in the cards and the next trajectory will be well above the $64K all-time high. Most traders who believe this rebound could happen, think that today’s bitcoin price movements are eerily similar to the prices BTC saw in 2013. At that time, BTC plunged to $50 per coin after skyrocketing well above the $200 handle in mid-May 2013.
Bitcoin Makes History As The World’s Most Held Financial Asset

The number of Cryptocurrency users has doubled in the last six months reaching 221 million by the end of June, according to new research by Hong Kong-based and fast-growing crypto-exchange Crypto.com.

“The number of global crypto users reached 221 million in June 2021. It only took four months to double the global crypto population from 100 million to 200 million. In comparison, it took nine months to reach 100 million from 65 million since we began this initiative.”
A quantum computer-resistant blockchain is under development

IDB Lab, Cambridge Quantum and Tecnológico de Monterrey have been building a quantum-proof cryptographic layer on LACChain

People in the blockchain industry have been talking for a while about what effect quantum computers might have on the sector. These are machines that carry out computations through the use of quantum physical properties.

While traditional computers use binary "bits" to encode information, quantum computers use quantum bits (qubits), which can represent many different things at the same time. This means quantum computers can evaluate a huge number of possibilities simultaneously, making them well suited to decryption. In fact, CNBC suggested that quantum computers could be capable of hacking cryptocurrency wallets within a decade.
​​​​​​​​​​​ Some really interesting news about TrendGuru AI project has been popping up in many crypto related media in the last few days. It looks like Artificial Intelligence has started a revolution in the crypto market!

TrendGuru AI - a very old project in the field of market data analysis, announces revolutionary results and finally goes public. This is bound to be a game changer in the cryptocurrency markets. The best AI analytics is now available to everyone with @TrendGuruBot.

«After 6 years of developing and testing our artificial intelligence on our deposits, we are ready to present you the latest and greatest version of our robot. It is an artificial intelligence bot that provides high-profit and low-risk signals for trading in cryptocurrency markets. The technology is based only on pure mathematics and the latest developments in the field of self-learning systems. Simply following the instructions of the system will allow you to consistently receive three-digit returns every year.»

Read more in TrendGuruAI channel and earn hundreds of percent even in a falling market! Definitely recommended!
Not sure what to do with ERC-20 tokens of failed projects?

Project iQuantXchange (https://iquant.exchange) swap ERC-20 tokens of failed projects for IQX token. The startup has been around for over a year, and during that time it has established itself as a stable platform for swapping worthless tokens for the promising IQX token, which will become the utilitarian token of their new exchange service.

The iQuantXchange will distribute all proceeds from transaction fees to all IQX token holders and is potentially a very powerful investment tool. So powerful, in fact, that some users are buying tokens from failed projects to exchange them for IQX.

To participate in this swap you just need to go to their website https://iquant.exchange, go to Swap Rate Checker section and enter the token you want to get rid of. You will be shown the exchange rate. Then just register and make the exchange. Get answers to questions about this project you can here: https://iquantx.medium.com/learn-about-the-project-from-this-faq-948250871307 or in the project's Telegram group @iQuantX
Forwarded from TrendGuru AI
​​Great deal from the first half of August. Very fast, very profitable.

Closed deal DENT/USDT
Open: $0.00231274, 04.08.2021
Close: $0.00462374, 13.08.2021
Profit: +99.92%
Duration: 9 days

Briefly about the instrument:

Dent is a revolutionary player in the market of mobile communications and data services. Today, around half of the world’s population has restricted access to mobile services because of the high prices traditional mobile carriers offer. Dent brings in the power of blockchain technology to revolutionize this and provide global access to mobile airtime and data.

Dent eliminates the understanding that your mobile data is tied to your location by becoming a global digital mobile operator. Dent offers plans that suit today’s global citizens’ needs by removing roaming fees and introducing international mobile plans. Everything on the Dent platform is purchased through DENT tokens, meaning that all transactions are recorded on the blockchain, and there is no chance for a customer to pay for something and not receive it. Unlike traditional mobile operators, Dent aims to make mobile airtime and data available globally to anyone interested, regardless of their location.

Subscribe to @TrendGuruBot and earn hundreds of percent in any market conditions.
Worldwide Crypto Adoption Sees Massive Upsurge As Vietnam, India Lead Parade

The global adoption of cryptocurrency has skyrocketed over the last year when it registered a growth of 881%. As per the 2021 Chainalysis Global Crypto Adoption Index, crypto adoption in India has been the second-largest in the world over the last year.

The crypto growth story is stronger in the developing world with Vietnam leading the chart and Pakistan and Ukraine occupying the 3rd and the 4th slots.
Forwarded from TrendGuru AI
​​One more great deal in August. Low risk. Huge profit. Everything as we love.

Closed deal IOTX/USDT
Open: $0.021736, 04.08.2021
Close: $0.070366, 24.08.2021
Profit: +223.73%
Duration: 21 days

Briefly about the instrument:

IoTeX is the decentralized backbone for machine economics which serves machines ranging from smart home devices to autonomous vehicles. To this end, IoTeX has built and launched a fast, high-performance, and EVM-compatible blockchain that provides flexibility and scalability for various applications. Also, middlewares and Dapps are built on top of the blockchain to bring self-sovereign devices and real-world oracles into reality.

IoTeX has several mechanisms that ensure the privacy of users and transactions. Some of these are ring signatures and the reliable payment code that hides the transaction receiver’s address. Delegated proof-of-stake works by having stakeholders vote for the block producers on the network. The number of block producers is set and once they are elected, they are responsible for adding new blocks to the blockchain. For doing it, they receive rewards that they can distribute to the stakeholders who voted for them, incentivizing block producers to continue working and stakeholders to continue voting for block producers.

This is a very promising project with a strong and experienced development team. Subscribe to @TrendGuruBot and earn hundreds of percent on such projects with our AI.
Litecoin (LTC) Price Analysis: Bulls Aim Test of $200

Litecoin price is gaining pace above $180 against the US Dollar, similar to bitcoin. LTC price could continue higher if it manages to clear the $185 resistance.

Litecoin Price AnalysisThis week, there was a slow increase in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC spiked below the $172 and $170 support levels.

The price tested the $165 support zone, where it found bids. A low was formed near $166 before the price started a decent increase. It broke the $175 resistance zone to move into a positive zone. There was also a break above a key bearish trend line with resistance near $174 on the 4-hours chart of the LTC/USD pair.
India’s Central Bank RBI Still Has ‘Serious Concerns’ About Cryptocurrency

The governor of the Reserve Bank of India (RBI), Shaktikanta Das, has once again expressed concerns regarding the impact of cryptocurrencies on India’s financial stability.

Crypto Presents ‘Serious Concerns’ to RBIThe Indian government is currently awaiting the Cabinet to take up the crypto bill. However, the country’s central bank, the Reserve Bank of India (RBI), still has major concerns about cryptocurrencies. Governor Shaktikanta Das reportedly said Wednesday:

We have serious, major concerns on cryptocurrency with respect to financial stability, [and] have conveyed the same to government of India.
Veteran Trader Peter Brandt Puts Ethereum Traders on Notice, Says ETH Forming Large Bearish Pattern

Veteran trader Peter Brandt is issuing a warning to Ethereum traders as the leading smart contract platform fights to stay above $3,000.

Brandt tells his 566,000 Twitter followers that he sees a large bearish pattern forming on Ethereum (ETH).

 “I am NOT saying I believe it and I am saying I am not shorting it – but like it or not if you own ETH you will have to deal with it.

This possible H and S [head and shoulders] exists. Whether it is completed, fails or morphs, it exists. I am NOT a hater.”
The Biggest Problems Plaguing Bitcoin, Ethereum, Cardano, Polygon

After Satoshi Nakamoto mined the first Bitcoin block, the blockchain industry took off like a rocket, and now cryptocurrencies are a $2 trillion market. The invention of the blockchain has been hailed as the solution to some world problems like transparency and has been deployed in several sectors. However, the technology is far from perfect and has problems that it has to contend with.

The Scalability ProblemOne of the most fundamental problems affecting blockchain is the problem of scalability. As adoption rates continue to soar, most blockchains face the challenge of being unable to handle a large amount of transaction data within a short while. This leads to long wait times and high fees, leading to several solutions being advanced.

Several layer-1 solutions have been put forward such as increasing the block size limit but this came with its own set of issues. As an alternative, other blockchains decided to shorten the time needed for the creation of a new block but none of these solutions worked.
LBank Exchange Will List BTA (Bitcoin Asset) on October 11, 2021

INTERNET CITY, DUBAI, Oct. 11, 2021 – LBank Exchange, a global digital asset trading platform, will list BTA on October 11, 2021. For all users of LBank Exchange, the BTA/USDT trading pair will be officially available for trading at 22:00 (UTC+8) on October 11, 2021.

More than a decade ago, Bitcoin introduced itself to the whole world, since then, the crypto space has grown rapidly and created one miracle after another. Today, a brand new asset named Bitcoin Asset is here to recreate the momentum of Bitcoin with more advanced developments. BTA, the token of Bitcoin Asset, will be listed on LBank Exchange at 22:00 (UTC+8) on October 11, 2021.
Forwarded from TrendGuru AI
​​A lot of good deals in September. Look at one more of them. As always, excellent performance from our TrendGuru AI.

Closed deal FTM/USDT
Open: $0.26867, 06.08.2021
Close: $1.3955, 08.09.2021
Profit: +419.41%
Duration: 33 days

What Is FTM?

Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm.Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds.The Fantom Foundation, which oversees the Fantom product offering, was originally created in 2018, with the launch of OPERA, Fantom’s mainnet, coming in December 2019.

The platform’s compatibility with Ethereum means that users can purchase an ERC-20 standard FTM, which is automatically converted to native FTM once received to their wallet. Another version of FTM is available on Binance Chain using its BEP2 standard. Only the native FTM can be used on the Fantom OPERA mainnet itself.

Fantom attempts to use a new scratch-built consensus mechanism to facilitate DeFi and related services on the basis of smart contracts.
The mechanism, Lachesis, promises much higher capacity and two-second transaction finalization, along with improvements to security over traditional PoS algorithm-based platforms.
Matching Ethereum, the project appeals to developers looking to deploy decentralized solutions. According to its official literature, its mission is to “grant compatibility between all transaction bodies around the world.”
Its in-house PoS token, FTM, forms the backbone of transactions, and allows fee collection and staking activities, along with the user rewards the latter represents.

Subscribe to @TrendGuruBot and earn hundreds of percent on such projects with our AI.