Get started

Blockchain

Bitcoin(BTC/USD) Daily Chart Analysis For Week of May 24, 2024Technical Analysis and Outlook: Bitcoin has broken through our Mean Resistance at 66900, completed our Inner Coin Rally at 69800, and then pulled back to the trading zone. The target for an upward movement is now set at the newly established Mean Resistance at 71500 and the aged Key Resistance at 73200. On the downside, we are looking at the newly established Mean Support at 67100 and a possible extension to Mean Support at 65000.
BITSTAMP:BTCUSD
by TradeSelecter
New crypto world or just a bubble?Imagine how a young student from Norway, Christopher Koch, finds himself in a virtual labyrinth of the Internet, where in one of its corners a mysterious light flickers - information about the brave new world of digital currency called Bitcoin. Driven by a fierce passion for learning the art of finance, Christopher decides to invest his modest $25 in 5,000 coins of this currency and leave them alone for four years, like grains in sand, hoping for a miracle. And lo and behold, a miracle happens! When he suddenly returns to this world, Bitcoin, like the stars in the night sky, doubles its value over and over again, turning a modest initial investment into a fountain of $800,000, illuminating Christopher's path with an endless light of wealth. Meanwhile, in another corner of the world, James Howells, like a hero from a fairy tale, finds himself in a dark room where his old disk lies, from which 7,500 bitcoins suddenly shine like treasure in the valley of dragons. But, unfortunately, the key to the treasury was lost, and the disk is now hidden deep underground, under a layer of time and oblivion. These two stories, like little sand stars on the ocean shore, reflect the grand journeys and vicissitudes of the world of cryptocurrencies, where every step can be a magical or dark turn on the path to wealth and adventure. These are just two of the many stories played out in the cryptocurrency theater. Some students turn their study days into journeys to make millions, others get lost in the maze of the pursuit of quick money, and some simply lose the keys to their treasure troves and are unable to unlock the doors to their wealth. Cryptocurrencies are not only financial instruments, but also plots for exciting stories about adventures, discoveries and losses that make our world more mysterious and fascinating. This is what New York looked like in September 2008: one after another, people in expensive suits with boxes in their hands come out of a building in the center of Manhattan. These people were fired from the world's largest bank, L Brothers, and so far no one knows that these layoffs will begin the deepest economic crisis on the planet since the Great Depression. A decline in production, an increase in unemployment, the disappearance of easy loans - all these signs indicate that a collapse may hit us too. Almost no one thought that more than 2 million people in the United States alone would lose their jobs. The crisis will spread to other countries that are closely linked to the American economy, and pension funds around the world will lose trillions of dollars. Imagine a world where money is not printed by the state, but is masterfully forged by participants in a new game called blockchain. In 2008, an anonymous person under the pseudonym Satoshi Nakamoto challenged established rules by releasing his creation into the world - Bitcoin, a digital currency in which there is no place for banking dependence or government control. This is something incredible, where every operation is a small masterpiece of cryptography, captured in the blockchain. Let's see how it works: one participant transfers 10 coins to another, and after a while he returns five coins to him. But there is no room for fraud or oblivion, because each operation is encrypted and inextricably linked to previous blocks. It's like a game of ciphers where one mistake destroys the entire maze. Each block in the blockchain is not just a record, but a quest where to create a new block you need to find the correct hash, consisting of a thousand characters. Miners are unusual treasure hunters who solve complex computational problems to discover that hash and earn their Bitcoin. And the more difficult the task, the greater the delight and reward, just like in the most exciting game. This is how digital currency appeared, which became a symbol of the financial revolution and a new era of independence.

 On January 3, 2009, Satoshi Nakamoto wrote his name into history by creating the first block in the Bitcoin blockchain. In this block, as in the mysterious letter of time, there were no financial transactions. Instead, it contained just one phrase that caught the world's attention: "The Chancellor is on the brink of a second bank bailout." This phrase, which became the headline of the British newspaper Times, reflected the deep financial crisis that gripped the world. A few days later, on January 12, Satoshi made the first real transaction in block 170, sending 10 bitcoins to programmer Hal Finney. With each new block, more and more people learned about Bitcoin, joined the process and became part of this revolutionary technology. It's hard to believe, but in the early days Bitcoin was worth less than one cent and was used more as an experimental technology than as a medium of exchange. However, with the passage of time and the spread of knowledge about it, Bitcoin began to gain increasing fame and value, turning from an experiment into a revolution in the world of finance.

 Bitcoin is a unique form of digital wealth where ownership is entirely yours. No banks or intermediaries are required to transfer it. All you need to do is know the recipient’s wallet address, and you can carry out the transaction shares directly. It is important to remember that the only way to lose your funds is to reveal the key to your wallet to scammers. Bitcoin is also unique in that it has strict mining rules. Only 21 million coins will be created, and every 210,000 blocks the reward for finding the hash of a new block is halved. This means that if in 2009 a miner received 50 bitcoins per block, today this number has decreased to just over three. Despite the decrease in rewards, the number of miners is growing, and huge farms covering thousands of square meters are now used to mine Bitcoin. This competition does not have a significant impact on the mining speed, and it is thanks to this mechanism that Bitcoin has become known as “digital gold.” Unlike fiat money, which is subject to inflation due to the constant printing of new ones, Bitcoin does not depreciate in value. This makes it attractive to many because it provides a stable and reliable medium of exchange rather than just paper bills in a wallet. People sincerely believed that the new blockchain technology and Bitcoin in particular would give them complete control over their own finances. With each new miner, Bitcoin gained more trust. However, its limited throughput - just seven transactions per second, while Visa's was 24,000 per second - became a bottleneck. This slowness, although it ensured the stability of Bitcoin, prevented its mass use. As blockchain became understood and widespread, thousands of programmers began looking for ways to improve Bitcoin. In 2011, a former Google employee created a cryptocurrency that was eight times faster, easier to mine, and cheaper to transact - it was Litecoin, the digital silver-to-digital gold equivalent of Bitcoin. However, Litecoin was not the only alternative. In 2012, the Ripple cryptocurrency appeared, which was capable of transferring customer money in a few seconds and almost free of charge, which was a difference from the traditional Swift bank transfer system. Every year more and more new coins and projects appeared, offering various solutions and improvements in the world of cryptocurrencies. Vitalik Buterin truly revolutionized the world of cryptocurrencies. He asked himself: What if we took advantage of the new technology offered by Bitcoin and solved one of the key problems of the economy - the problem of trust? In 2015, he launched the Ethereum project, which proposed the concept of smart contracts. Here's how they work: Imagine you want to buy an apartment. To protect yourself, you go to the bank and open a letter of credit. You deposit money into this account, which the seller will receive only after signing the purchase and sale agreement. The whole process is controlled by the bank, which takes a commission for this. The Ethereum smart contract removes the bank from this transaction. The system itself checks the terms of the contract and, if they are fulfilled, automatically transfers money from your wallet to the seller’s wallet. This happens quickly, cheaply and reliably, without intermediaries and unnecessary commissions. Ethereum has really made it easier to create your own cryptocurrencies. Previously, you had to develop your own blockchain to do this, but now thanks to Ethereum it has become much easier. Ethereum can be called the programming language of the cryptocurrency world because it allows you to create new coins and tokens easily and quickly. As a result of the emergence of Ethereum in 2017, a massive phenomenon occurred - ICO (Initial Coin Offering), when startups issued their coins and tokens to raise capital. This allowed any startup to attract funding without special restrictions and control from the state. The crypto industry began to resemble the golden era of the Internet in the late 90s, when everyone understood that the future belonged to the Internet, and Internet companies grew quickly, like mushrooms after rain. The essence of the ICO is that startups come up with their own project, issue a coin for this project and promise investors a huge increase in the price of this coin (for example, by 1000%). They then raise funds by selling their coins to investors.

 Indeed, cryptocurrencies and blockchain technologies create two parallel worlds. One world is public money, which is backed and controlled by the government. Another world is private money, which operates on the basis of agreements and technologies between system participants, providing a greater degree of autonomy. Governments find themselves in a difficult situation trying to straddle both sides of the aisle. They do not ban cryptocurrencies, seeing the potential for the future in blockchain technology, but at the same time do not recognize them as official money, since this threatens the foundations of the state economy. Many countries have begun to develop their own national blockchain-based cryptocurrencies, known as central bank digital currencies. Such currencies promise higher levels of transparency and security, since every transaction can be tracked, and smart contracts provide more reliable funds transfers. This process leads to increased government control over financial transactions, but also provides citizens with more convenience and protection. Decentralization, which was originally one of the main features of cryptocurrencies, is now becoming a tool for government regulation. My point is that cryptocurrency is not just a niche means of payment or a risky investment. It represents a new form of financial relations, which is already being actively introduced into everyday life. We are witnessing a historic shift in the financial sector, where digital money is becoming an integral part of our daily lives, just as the Internet became an integral part of our lives in the past.
COINBASE:BTCUSDEducation
by Crypto4light
DOT READY TO BOOM AFTER A PULLBACK!! #Polkadot it failing to flip the local resistance into support. We have a monthly POC and the 0.618 fib level below to hold as support. If we can get a bounce there, I would expect PA to push higher to try and flip the blue box into support next! Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
by Navitility
1
ETH - Deja Vu🦋Hello TradingView Family / Fellow Traders, For those who know me, I always enjoy studying previous price action. 📌Today, I want to share an interesting pattern I found on ETH. Back in Summer 2021, ETH experienced a parabolic bullish impulse (depicted in blue), followed by a correction (shown in purple) to reject the $3000 support before commencing another bullish impulse movement. If we apply the same logic to the current price action, ETH is currently in the correction phase, rejecting the $3000 support. Thus, I will be looking for buy setups on lower timeframes, speculating on the next bullish impulse movement. Of course, this pattern will be invalidated if the $3000 mark is broken downward. 🗒 What do you think? Will history repeat itself? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! And always remember: All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
18
BTC - Bullish Continuatio?Hello TradingView Family / Fellow Traders, 📈As per my last analysis, BTC broke above the accumulation phase and is currently trading higher. What's next? For the bulls to maintain control, a break above the structure marked in blue is needed. 🏹In such a scenario, a movement towards the upper orange/blue trendlines and $70,000 round number would be expected. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
5
ETH - Bullish Continuation⁉️Hello TradingView Family / Fellow Traders, 📈As per my last analysis, ETH broke above the previous major high at $3000 and is currently trading higher. What's next? ETH is currently bullish short-term trading within the rising wedge pattern marked in orange. 🏹As long as the lower orange trendline and the $3000 support hold, a continuation towards the upper bound of the orange and blue channels would be expected around $3333. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
3
ETH - Wait For The Bulls!Hello TradingView Family / Fellow Traders, 📦 ETH has been trading within a big range around the $2,800 - $3,000 support in the shape of a flat rising channel. Currently, ETH is hovering around the lower bound of the support and rising channel. As long as the $2,800 support level holds, we expect the bulls to kick in soon! 📈 For the bulls to take over and start the next bullish impulse movement, a break above the last major high in green at $3,000 is needed. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
BTC - Accumulation or Short Buildup❗️Hello TradingView Family / Fellow Traders, BTC has been hovering within a narrow range marked in red around the $60,000 - $62,000 support zone. Scenarios: 1️⃣ Bullish - Accumulation For the bulls to take full control again, a break above the upper bound of the range is needed. In this case, a movement towards the $69,000 resistance would be expected. 2️⃣ Bearish - Short Buildup In parallel, if the $60,000 support is broken downward, we expect a bearish movement towards the lower bound of the orange channel around $55,000. Which scenario is more likely to happen first? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
4
What is token burning in crypto?Understanding Token Burning in Cryptocurrency: A Comprehensive Guide What is Token Burning? Token burning is a crucial strategy in the volatile realm of cryptocurrencies, where assets lack real-world backing. Developers employ innovative approaches to maintain long-term price stability and incentivize investors. One such method is burning tokens, which involves removing coins from circulation. This action reduces the total supply, increasing scarcity, and potentially boosting the value of each remaining coin. Why Do Projects Burn Tokens? There are several reasons why cryptocurrency projects may choose to burn tokens: Scarcity and Value Appreciation By reducing the supply of tokens, projects can create scarcity, leading to potential value appreciation for the remaining tokens. This can incentivize holding and discourage selling, contributing to price stability and growth. Reward Mechanisms Some projects use token burning as a reward mechanism for users or participants. For example, platforms may burn tokens as part of a buyback program, where they purchase tokens from the market and then burn them, effectively reducing supply and rewarding holders. Economic Alignment : Token burning can align economic incentives within a project's ecosystem. For instance, platforms may allocate a portion of transaction fees to token burning, ensuring that stakeholders benefit from increased token value as the supply decreases. Coin Migrations : During blockchain upgrades or migrations, projects may burn old tokens that are being replaced by new tokens on a different blockchain. This process helps maintain continuity and security during transitions. Examples of Token Burning: Binance Coin (BNB): Binance, one of the largest cryptocurrency exchanges, regularly conducts token burns of its native token, BNB. A portion of the trading fees collected on the Binance platform is used to buy back BNB from the market and subsequently burn the tokens, reducing the total supply over time. Ethereum (ETH): Ethereum has proposed a shift to a proof-of-stake (PoS) consensus mechanism with Ethereum 2.0. As part of this transition, ETH holders can lock up their tokens in the new Ethereum Beacon Chain, effectively removing them from circulation and reducing supply, akin to token burning. TRON (TRX): TRON Foundation has conducted multiple token burns of its native token, TRX, to manage supply and support token value. These burns are often announced publicly, providing transparency to the community. Crypto Exchanges: Some cryptocurrency exchanges conduct token burns of their exchange tokens as part of periodic events or promotions. This practice can benefit token holders by reducing supply and potentially increasing token value. Does burning impact token price? Token burning can indirectly affect token value. Reducing circulating coins typically generates positive sentiment, potentially increasing asset popularity and value. While not the primary price driver, decreased supply can create scarcity and lift remaining token values. However, many factors influence token price, such as market conditions, sentiment, and project reputation. In conclusion - Token burning remains a potent method for enhancing and stabilizing crypto asset value. Transparency and stability through burning incentivize investor trust, contributing to sustained price levels. Despite not guaranteeing immediate value hikes, burning offers long-term benefits, especially for projects with substantial user bases. Other advantages include community reinforcement and inflation control, making token burning a strategic practice in the cryptocurrency landscape. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. --- • Look at my ideas about interesting altcoins in the related section down below ↓ • For more ideas please hit "Like" and "Follow"!
Education
by Crypto4light
SOL - Massive Demand Ahead 🏹Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📉 After rejecting the $200 round number, SOL has been bearish as a correction phase. 🏹 The $100 - $115 range is a massive demand zone to look for buy setups and capture the next bullish impulse movement. 📚 As per my trading style: As #SOL nears the demand zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
ETH - Long-term Possible Scenarios 📈📉Hello TradingView Family / Fellow Traders, As per my last analysis, ETH rejected the $2900 - $3000 support and traded higher. What's next? Scenarios: 1️⃣ Bullish For the bulls to take full control again, a break above the last high marked in orange is needed. In this case, a movement towards the $4000 resistance would be expected. 2️⃣ Bearish In parallel, if the $2,900 support is broken downward, we expect a bearish movement towards the $2,400 - $2,500 demand zone. Which scenario is more likely to happen first? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
5
Vodafone Set to Integrate Crypto Wallets With SIM CardsVodafone ( NASDAQ:VOD ) is utilizing SIM card technology to meet the anticipated surge in demand for cryptocurrency on mobile phones. CPO David Palmer discussed how the company is advancing blockchain use on mobile devices to manage crypto transactions. He highlighted the use of Pairpoint, a brand that advances web3 and Internet of Things (IoT) services by utilising SIM card technology for blockchain-based digital wallets on mobile devices. Palmer believes there will be 5.6 billion blockchain-based digital wallets by 2030, which will be the gateway to financial services. He highlighted the use of public blockchains like Ethereum (ETH-USD) but acknowledged regulatory hurdles. The long-term pathway is towards using public blockchains such as the Ethereum network, and with the Ethereum fork, we are starting to see that public blockchains are becoming faster and more secure. Vodafone's digital asset broker platform, PairPoint, facilitates transactions between public and private blockchains using smart contracts for seamless integration. It acts as a middleman for large enterprises that wish to write to a public blockchain, allowing cross-chain interoperability through smart contracts. Vodafone's digital asset broker platform followed its early experiments with peer-to-peer micro-payment transactions and later integrated its SIM card technology with blockchain, introducing interoperable 'digital identity passports'. These passports securely store private keys to digital wallets within the SIM card's hardware module. This culminated in the creation of Vodafone's Pairpoint platform, providing Internet of Things (IoT) devices with decentralized digital identities and enabling them to operate across organizational and system boundaries. Technical Outlook Vodafone stock ( NASDAQ:VOD ) didn't quite react to the fundamentals. The stock is trading in equilibrium to market sentiments the ratio of buyers to sellers is latent. The stock has a Relative Strength Index (RSI) of 52 which is not oversold or overbought.
NASDAQ:VODLong
by DEXWireNews
ETH - Critical Zone 👀Hello TradingView Family / Fellow Traders, As per my last analysis, ETH is now hovering around the $2900 - $3000 support. What's next? Scenarios: 1️⃣ Bullish For the bulls to take full control again, a break above the last high marked in red is needed. In this case, a movement towards the upper orange trendline and blue structure at $3350 would be expected. 2️⃣ Bearish In parallel, if the $2,900 support is broken downward, we expect a bearish movement towards the $2,500 - $2,600 demand zone. Which scenario is more likely to happen first? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
6
ETH - Massive Bullish Impulse Soon ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 ETH has been overall bullish, trading above the red trendline which is acting as a non-horizontal support. Currently, ETH is in a correction phase trading within the falling orange channel. Moreover, it is retesting a strong demand in green at $2900 - $3000. 🏹 Thus, the highlighted red circle is a strong area to look for buy setups as it is the intersection of the green demand and lower orange/red trendlines. 📚 As per my trading style: As #ETH approaches the red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
6
OP - Enjoy The Ride 🚗Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 OP has been overall bullish, trading within the rising broadening wedge pattern in red. Currently, OP is undergoing a correction phase and it is currently approaching the lower red trendline. Moreover, it is retesting a strong support zone marked in blue. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue support and lower red trendline acting as a non-horizontal support. 📚 As per my trading style: As #OP approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst