Author: coinmarketstrategist

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Selling USDT: A Comprehensive Guide to Tether Liquidation

Tether (USDT) stands out in cryptocurrency as a stablecoin, a unique category of digital assets pegged to the value of a traditional currency, in this case, the US Dollar. Given its stability amidst the notoriously volatile crypto market, USDT is a refuge for traders and investors. However, there might be instances where you need to liquidate or sell USDT. This article will guide you through the various methods and considerations when selling USDT.

Why Would One Want to Sell USDT?

  1. Taking Profits: If you’ve bought USDT at a slight discount or earned it from various online ventures, selling it might yield a marginal profit.
  2. Accessing Traditional Markets: Converting USDT to fiat allows investors to enter more traditional investment platforms outside the crypto sphere.
  3. Meeting Financial Obligations: Liquidating USDT might be necessary to cover expenses or to meet other financial commitments.

Platforms & Avenues to Sell USDT

  1. Cryptocurrency Exchanges:
    • Centralized Exchanges (CEX): Platforms like Binance, Coinbase, and Huobi allow users to trade USDT against fiat pairs like USD, EUR, or GBP. Once sold, users can withdraw the fiat currency to their bank accounts.
    • Decentralized Exchanges (DEX): These are peer-to-peer platforms. Although most DEXes focus on crypto-to-crypto trades, some media or partnered services might offer routes to cash out to fiat.
  1. Over-The-Counter (OTC) Desks: OTC desks offer personalized services for those looking to sell large quantities of USDT without affecting market prices. Many major exchanges have OTC desks to cater to institutional or high-volume traders.
  2. P2P Platforms: Websites like LocalBitcoins or Paxful have expanded to include USDT trades. Here, users can directly agree on rates and payment methods with buyers, sometimes resulting in better rates than exchanges.
  3. USDT ATMs: While Bitcoin ATMs are more common, a growing number of cryptocurrency ATMs accept stablecoins, including USDT. Users can directly convert their USDT to cash using these machines.

Safety First: Tips to Ensure a Smooth Transaction

  • Verify Buyer/Platform Reputation: Especially on P2P platforms, always check the reputation and reviews of potential buyers. Stick to media known for their security measures.
  • Use Escrow Services: To mitigate risks, opt for platforms or services that hold the USDT in escrow until the seller confirms receipt of payment.
  • Two-Factor Authentication (2FA): Enable 2FA on all media to add an extra layer of security.
  • Secure Wallet: If holding USDT in a personal wallet, ensure it’s encrypted, backed up, and secured against malware.

Tax Considerations

Like other cryptocurrencies, selling USDT might have tax implications. The nature of these implications varies by jurisdiction:

  • Capital Gains Tax: In some regions, any profit from the sale of USDT may be subject to capital gains tax.
  • Transaction Reporting: Some tax authorities require individuals to report cryptocurrency transactions. Ensure you keep detailed records of your trades.

It’s advisable to consult with a tax professional or accountant familiar with your local cryptocurrency regulations.

Final Thoughts

Cryptocurrencies are ever-evolving, with stablecoins like USDT playing an increasingly vital role in bridging the gap between traditional fiat and digital currencies. Understanding the intricacies of selling USDT ensures you remain agile in your financial decisions, capitalize on favorable market conditions, and meet your financial goals.

While USDT offers a cushion against the wild price swings of the crypto market, the decision to liquidate should be informed by both immediate needs and long-term financial strategies. Always ensure you’re updated with current regulations, technological advancements, and market trends to maximize your USDT holdings.

Posted on and Updated on by coinmarketstrategist

TOP reliable Cryptocurrency Exchanges

For several years of existence of the crypto market, a lot of ways to buy cryptocurrency have appeared, and every year there are more of them. These are 6 different ways to buy digital assets: through intermediaries and directly, through the Internet and in cash, through crypto exchanges and other markets. It is not always obvious which option is better — it all depends on the amount, the purpose of the purchase, and the coins you need. So, where to buy crypto? The answers are here.

Before we consider interesting ways where to buy crypto below, it should be mentioned that there is a cool service that will help in this difficult task. ChangeHero.io is the place where you can always turn to buy cryptocurrency profitably, consult and get useful advice, as well as answers to your questions.

The best ways of buying

Method number 1: Cryptocurrency exchanges. The first cryptocurrency exchanges appeared in 2010 and still remain one of the most popular ways to buy cryptocurrency. They gather thousands of traders and investors who, manually or with the help of trading programs, create millions of orders. It is convenient to use the exchange if the purchase amount is not very large and you do not want to bother with opening wallets and transfers. What are the advantages?

  1. The best prices and high liquidity.
  2. The largest selection of crypto.
  3. There is no fraud or exchange without deception.
  4. The simplest way of saving crypto.
  5. A lot of options and mining pools.
  6. There are low trading fees when buying through the spot market.

A lot of people trust the popular large-scale crypto exchanges the most because this is already a proven method.

Method number 2: Telegram bots. Nowadays, some services use bots to interact with customers – through them, you can order a taxi, buy an air ticket, set a reminder, manage a Telegram channel, and etc. Well, of course, you can also buy cryptocurrency: some popular p2p platforms and exchangers have implemented their functionality directly in the messenger. Telegram bots for buying cryptocurrencies are distinguished by convenient management and interface, as well as accessibility: it is enough to have the Internet on your smartphone to work. So, this is a good place where to buy crypto, too.

Method number 3: Online exchanges. People who make money on the Internet often need to convert electronic currencies (like ETH to BNB) to real or transfer money from one payment system to another. This problem is solved by online exchangers that support a huge number of exchange directions, including the purchase and sale of cryptocurrencies. So, what about the pros of this way?

  1. There is a direct exchange in hundreds of possible directions.
  2. There you can send cryptocurrency immediately to the desired wallet.
  3. Registration is not required.
  4. The ability to use cash if you need.

In general, you can find dozens of such exchangers on the network – and each offers its own courses. To quickly find the most profitable option, you should use exchange aggregators. These sites collect information about exchange rates in various directions and also screen out fraudulent sites so that the risk of fraud tends to zero.

Method number 4: Over the counter (OTC). When the first cryptocurrencies appeared, it was possible to buy and sell them only directly from the owners. They gathered at thematic forums, made transactions directly among themselves – this is how the over-the-counter market appeared. After the advent of centralized exchanges, it did not disappear and took its niche – a place for large transactions that are difficult to carry out in the usual way through an order on the exchange due to slippage or insufficient liquidity in less popular cryptocurrencies. There are some big pluses:

  1. There is no upper limit on the amount of the transaction.
  2. There is a stable purchase price.
  3. They are the individual terms of exchange.

The OTC market is best developed as a complement to crypto exchanges. OTC trading departments on exchanges help bring sellers and buyers together who are looking for better conditions for large transactions, and the exchange takes place between two accounts directly, without entering the exchange.

Method number 5: Crypto ETF. While it was relatively easy for private investors to buy and sell cryptocurrencies, this was not available to large institutional investors – there was not a single suitable tool allowed by regulators. Alternatively, it was possible to buy shares of companies related to blockchain technologies, but besides the price of cryptocurrencies, many other factors influence them. In October 2021, we launched the first Bitcoin-ETF in the US market — an investment fund whose units can be bought on the exchange, and their price depends entirely on the price of Bitcoin. It allows you to invest in the first cryptocurrency on the US stock market, just like you can invest in precious metals, oil, and other commodities through a broker without buying them directly. If you have a question about where to buy crypto – this is a great place for everybody.

Crypto Growth: What It Depends On

A centralized economy has clear mechanisms for determining the exchange rate of traditional currencies. But in a decentralized cyber-economy based on crypto-currencies, strict algorithms for establishing the value of digital coins have not yet been developed. But nevertheless, there are a number of factors that allow holders, speculators, and cryptocurrency investors to more or less accurately predict the future of a coin on the market so as not to incur losses and not go bankrupt. Analyzing the prospects of a particular blockchain project, one cannot treat everyone with the same brush. Factors that affect the exchange rate of a digital currency may differ for different tokens. However, there are fundamental factors that indirectly affect the entire market as a whole.

These include the following things such as:

  • political and economic troubles;
  • public statements of leading world politicians and financiers;
  • opinions of authoritative members of the blockchain community and the success of developers of leading projects;
  • the activity of using cryptocurrencies in real life and the number of transactions on exchanges.

When trying to predict the rate of a particular cryptocurrency, you need to clearly understand that in the current period, cryptocurrency is more of an investment tool than a means of mutual settlement.

Pricing is a rather complex mechanism, although it is basically the same for assets and consists of three important elements: cost of creation (production/extraction), market price, and assessed value. It is extremely difficult to give an accurate forecast for a year or two for this or that asset. The cheapest cryptocurrencies are often a bad investment, but it happens that they find a second life after rebranding.

When choosing a cryptocurrency for investment, do not stop at one project, no matter how attractive it may be, do not expect the price to double tomorrow, and do not panic at the first drawdown of the course. The main reason for the fall of the market is the panic among investors caused by some events or statements of famous people. People jump to conclusions and make rash decisions that they later regret. Before buying a cryptocurrency, you need to think and weigh everything well, but if you have already bought, then do not rush to sell. If you find it difficult to understand the intricacies of blockchain technology, trust the professionals.

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Binance vs. Coinbase Frequently Asked Questions

What Are Binance and Coinbase?

Although Coinbase has its headquarters in the United States, it is a global cryptocurrency exchange that enables customers to buy, sell, send, receive, and exchange virtual currencies from a web browser or mobile app. Binance also offers an exchange service, although the version accessible to users in the United States does not include all of the features offered on the entire site.

While Binance offers a wide variety of transaction types, including limit orders, stop-limit orders, market orders and post-only Peer to Peer trading for users globally; U.S. residents have fewer options due to regulation.

How Do Binance and Coinbase Work?

Coinbase and Gemini are both cryptocurrency exchange platforms that facilitate the buying, selling, and trading of cryptocurrencies. Users transfer real money to purchase, sell, or trade digital currencies. The process is similar for both; each requires a photo ID verification.

Creating an account is the first order of business, and you’ll need to verify your email before taking any further steps. After that, you can add funds from a variety of methods. To make a trade, go to the exchange platform and create an order for the desired altcoin. Once that’s all set up, follow the on-screen prompts to finalize everything. The exchanges will store cryptocurrency until you’re ready move it elsewhere – such as a digital bitcoin wallet – or withdraw it entirely.

Is It Safe to Hold Cryptocurrency in the Binance or Coinbase Exchanges?

Whereas Binance and Coinbase are both excellent crypto exchanges, it is advisable to store funds in a hardware wallet for long-term savings. online wallets are vulnerable to hacking, and most exchanges have experienced at least one security breach – including Binance in 2019.

Though Coinbase claims that it has never been hacked and only a tiny percentage of users have had their accounts taken over in the past year, any mistakes on your end can put your digital currency at risk.

Both Binance and Coinbase provide insurance against fire, but it may be preferable to use your own cold storage using a hardware wallet. A hardware wallet is a gadget that is not connected to the internet and must be linked to your computer in order to access your cryptocurrency.

Who Should Use Binance or Coinbase?

Coinbase is ideal for novices who want a quick and secure way to buy cryptocurrencies. The user-friendly platform is simple to use, even for those without technical know-how, and the application opens with a simple interface with few options. It’s a good match for individuals concerned about buying or trading cryptocurrency because it’s a reputable, U.S.-based exchange.

Binance is a great choice for non-U.S. residents who are experienced investors and want advanced trading options with lots of analytics to back up their strategy decisions. Novice users will experience a learning curve, but once you learn your way around, it gets easier. With low fees and over 600 cryptocurrencies available in more than 180 countries, Binance is a great choice for anyone looking for a sophisticated platform.

How We Evaluated Binance vs. Coinbase

To come to our conclusions, we looked at Binance and Coinbase’s fee structures and ease of use. We also took into account different features offered by each website that would be useful for U.S. residents on Binance.US . Additionally, we considered aspects such as customer service accessibility and the functionality of both the mobile app and website. By examining all these elements side-by-side through charts comparing security, transaction types, fiat currencies accepted, payment methods, etc., it was easy to see which platform came out on top overall.

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The various factors that affect Bitcoin’s price.

Satoshi Nakamoto, the pseudonym given to Bitcoin’s creator (or creators), created the cryptocurrency in 2009. The blockchain is a public ledger that records bitcoin transactions and establishes ownership.

Bitcoin is a form of cryptocurrency that was created in 2009 by an unknown computer programmer using the alias Satoshi Nakamoto. Bitcoin, unlike traditional currencies, is not produced or backed by a central bank or government. Purchasing a bitcoin differs from buying stock or bonds because Bitcoin is not a corporation. As a result, there are no corporate balance sheets to analyze, no fund performance data to compare, and no other conventional ways to choose an investment.

Learn what influences Bitcoin’s price so that you can make more informed decisions about choosing it as an investment.

The value of Bitcoin is not determined by a central bank or backed by the government, so standard monetary policy approaches, inflation rates, and economic growth statistics do not apply. Because Bitcoins are more of a commodity than a currency, the price is impacted by the following variables:

– The amount of bitcoin available (supply)

– How much people want to buy it (demand)

– The cost of producing a Bitcoin through mining processes

– The number zones where buying or using cryptocurrencies is regulated

The availability of a commodity has an influence on its price. A rare thing is more likely to have a high value, while one that is readily available will have a low value. Because only 21 million bitcoins will ever exist, and only a specific quantity per year will be produced, Bitcoin’s supply is generally well-known. Its protocol merely permits new bitcoin to be created at a set rate, which is intended to decrease over time.

Because the amount of Bitcoin in circulation is decreasing, demand will rise. This is comparable to a corn surplus being reduced every four years until there was no more production and it was publicly announced that it would occur—corn prices would explode.

The value of Bitcoin has been on the rise due to increased media coverage and demand from investors. Its popularity in countries with high inflation rates devalued currencies, such as Venezuela, has also contributed to its increasing value. However it should be noted that Bitcoin is also popular among those who use it for illegal activities to its anonymous nature.

As a result, a rise in bitcoin’s price is due to shrinkage in future supply coupled with an increase in demand. Its value, on the other hand, fluctuates erratically between booms and busts. A Bitcoin price explosion in 2017 was followed by a lengthy low before two rapid boosts and downturns through 2021

Like other valuables, how much it costs to produce bitcoin plays an important role in determining its price. Some research suggests that the price of bitcoin in cryptocurrency markets is closely related to marginal cost of production.

The cost of mining a Bitcoin is calculated as the sum of direct fixed costs for infrastructure and electricity required to mine the currency, as well as an indirect cost linked to the problem difficulty level. Miners compete to solve an encrypted number known as a hash—the first miner to do so wins new bitcoins and any transaction fees paid since the previous block was discovered.

Solving the hash to open a block and receive a reward necessitates the use of tremendous processing power. The miner will have to purchase many expensive mining equipment in monetary terms. The bitcoin-mining process also consumes significant amounts of electricity. According to predictions, the bitcoin-mining network uses more electricity than some small countries.

There are hundreds of cryptocurrencies other than Bitcoin vying for investment dollars, but as of 2022, Bitcoin still holds a majority of the market share.

 

However, its power has gradually decreased. In 2017, Bitcoin held more than 80% of the entire market capitalization in cryptocurrency markets. By 2022, that number had dipped to below 50%.

 

The primary cause of this was increased awareness of and abilities for alternative coins. Because to a proliferation in decentralized finance (DeFi), Ethereum has emerged as a strong challenger to Bitcoin. Ether, the cryptocurrency that is used as “gas” for transactions on its network, has attracted investors who see its potential in reinventing modern financial infrastructure. The Ethereum ecosystem includes around 20% of the overall market capitalization of crypto markets.

As newer cryptocurrencies, such as Tether, BNB, USDCoin, and Solana become more popular among investors, they have begun to take market share away from Bitcoin. However, the increased competition has actually led to more investment dollars flowing into the Bitcoin ecosystem. As a result of the increased demand and awareness for cryptocurrencies that this Competition has generated evenly throughout 2012 prices for Bitcoins remained high

Bitcoin was created in the aftermath of a financial crisis caused by deregulation in the derivatives market. The cryptocurrency itself is unregulated and has become known for its border- and regulation-free ecosystem.

Bitcoin’s lack of regulatory standing has both advantages and drawbacks. Because there is no regulation, bitcoin can be used freely across borders and isn’t subject to the same governmental limitations as other currencies. Governments and interested parties, on the other hand, are continuing to push for cryptocurrency legislation.

The creation of a regulatory framework is only a matter of time, and the impact it will have on Bitcoin’s price is impossible to predict. For example, SEC cryptocurrency rulings might have an effect on Bitcoin’s value in the United States. The price of Bitcoin rose to $69,000 in October 2021 shortly after the SEC gave its blessing for the first U.S. bitcoin-linked ETF: the ProShares Bitcoin Strategy ETF (BITO). However, just as it was reaching that mark, Bitcoin’s price had fallen to around $40,000 a few months later.

 

The introduction of China’s bitcoin trading and transaction ban in September 2021 had a big impact on the supply and demand of bitcoin. Mining farms in China were compelled to pack up and move abroad as a result of China’s bitcoin trade and transaction prohibition. Prices dropped from around $51,000 at the start of September to around $41,000 by the end of the month, only to rapidly rebound and surpass previous price levels as operations resumed.

The media and news reporting work both for and against Bitcoin’s price in an effort to keep investors and interested parties up to date. Any changes in any of the factors outlined above are swiftly revealed to the public. As a result, good news for cryptocurrency investors tends on sending Bitcoin’s price up, while bad news sends it down.

Many things, like supply and demand, production costs, competition, media coverage of regulatory developments influence how investors feel about cryptocurrencies. This is one of the most significant factors that affects cryptocurrency prices.

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What is Ethereum, and what should you know before investing?

Ethereum and Bitcoin have rapidly become household names. While they’re frequently mentioned together, they are not the same.

Bitcoin was designed as an alternative to conventional money. Ethereum is inspired by Bitcoin, but it has grander ambitions: to build a software platform that allows users to run decentralized applications without the need of a third party, giving them more control over their data.

What is Ethereum?

Ethereum is a decentralized computing platform network built on open-source, distributed technology. The Ethereum network, like the Bitcoin network, is based on blockchain technology, which essentially is a digital public ledger where financial transactions can be verified and stored by software without the need of a third party.

The Ethereum network is best thought of as a secure database that anybody can use. When new “blocks” of information are added, they’re cryptographically linked to a parent block, making an uneditable chronicle of the prior changes.

Ether is one of the most famous cryptocurrencies, owing to its market capitalization ranking second only to bitcoin.

But the network’s potential to do more than just handle financial transactions is what makes Ethereum so appealing to users and enthusiasts. Developers can use Ethereum to create “smart contracts” (programs that can host any sort of decentralized application) that go beyond Bitcoin’s capabilities.

Bitcoin was the first to utilize blockchain technology in a peer-to-peer payment system, according to Jacob Wade, a financial coach and president of iHeartBudgets. “Ethereum utilizes similar blockchain technology, but it also has the capacity to develop decentralized applications on its platform,” he adds.

People have already developed and launched a slew of Ethereum dApps, including games, digital art marketplaces, and decentralized finance (DeFi) applications.

Is Ethereum a viable investment option?

It is, however. There isn’t one right answer for anybody looking to invest in Ethereum. The most important thing to remember is that, like any other investment, it’s speculative and should be treated as such before putting it in any portfolio.

Ether is becoming increasingly widely available, and there’s a lot of buzz in the media about its increasing value – but it’s vital not to be too caught up in the hype.

“It may be useful in a portfolio, but it should be regarded as highly speculative,” he adds. “Also, while the technology is promising, it’s uncertain which technology will win in the long run.”

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DOT Predictions of the Polkadot Price Prediction 2022, 2025, 2030, 2040, 2050

This essay will look at historical price trends to see how Polkadot’s value has changed. It’ll give advice on when to buy and sell throughout the next few years. Read on if you’re wondering, “Where will Polkadot be in five years?” and want to know if the price of Polkadot will rise or fall by the end of the year.

Do you want to know where the price of Polkadot (DOT) will be in 2022, 2023, 2024, 2025, and 2030?

Polkadot (DOT) Price Prediction/Forecast for 2022, 2023, 2024, 2025 and 2030

Polkadot Price Prediction 2022

Using our in-depth knowledge of DOT’s historical price data, we predict that the price of Polkadot will be between $24.38 and $30.20 in 2022, with an average price of $25.33.

Polkadot Price Prediction 2023

In 2023, the price of Polkadot is expected to reach a bottom level of $36.15. With an average price of $37.16 throughout 2023, the Polkadot price can hit a peak of $42.73.

DOT Price Forecast for 2024-2025

According to the forecast price and technical analysis, in 2024 Polkadot’s price will fall to $51.63 at its lowest point. With an average trading price of $53.48, the DOT price may reach a peak of $62.27.

Polkadot Price Prediction 2026

By 2026, the Polkadot price is forecast to reach $110.91. In normal situations, it might top $130.88, but the lowest feasible degree will be $114.02 on average.

Polkadot Price Prediction 2027

According to our study, the price of Polkadot (DOT) will range from $157.92 to $192.93 throughout the forecast period, with a median value of $162.48.

Polkadot (DOT) Price Prediction 2028

The lowest price of Polkadot is expected to be $234.18 in 2028. With an average trading price of $240.68 throughout the year, the Polkadot price can reach a maximum value of $280.71 in 2028.

Is Polkadot (DOT) a good investment?

The demand for ‘Polkadot’ is expected to continue to rise, as a scarcity promotes price increases. Please keep in mind that any investment involves some degree of danger. Invest only in areas where you can make progress before reaching any conclusions, and do your finest to conduct thorough study.

How high can Polkadot go?

The average price of Polkadot (DOT) is expected to reach $25.33 by the end of this year. It is predicted that if we consider the five-year plan, the coin will quickly surpass the $114.02 mark.

How much will Polkadot be worth in 2030?

In terms of pricing, Polkadot has the ability to reach new heights. It is anticipated that DOT will rise in price. According to certain experts and business analysts, Polkadot may reach a price of $862.16 by 2030.

Posted in DOT

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Frequently asked questions about stocks

What are brokerage accounts, and how do they work?

A brokerage account is a financial instrument that allows you to buy, sell, and hold stocks and other investment assets. You may deposit and withdraw money like you would with an ATM. However, unlike a bank account, your cash balance may be used to acquire stocks, ETFs, mutual funds, options, futures contracts, forex currency trading , bonds, and other investments.

What is the most effective way to buy and sell cryptocurrencies?

Accounts at online brokerages are linked to the US financial infrastructure. You may generally use your brokerage’s mobile app to deposit funds by check. You can also wire funds, send electronic transfers, and use other supported methods to your brokerage for addition or withdrawal of funds.

The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) regulate brokerage accounts in the United States. While investment assets may lose value, the US government guarantees brokerage accounts through the Securities Investor Protection Corporation (SIPC).

Who should use a brokerage account?

Anyone interested in investing must first set up a brokerage account. You can’t buy and own stocks and other assets without one, so everyone who wants to invest should obtain one. If you’re heavily in debt, you may want to clear high-interest payments before putting too much money into the stock market.

Make sure you understand the risks and potential return of the stock market before jumping in. While most people invest with the goal of making money, stocks and other assets may decline in value. Make careful to research what you’re getting involved in so that you can better evaluate the dangers and potential income.

How much should a brokerage account cost?

In the 2020s, brokerage accounts should be almost entirely free. With a few exceptions for active traders and managed portfolios, you should be able to create and maintain an account with no minimum balance requirement, no recurring costs, and no activity restrictions.

In 2019, most brokerages eliminated stock and ETF commissions as well as base fees for options. This makes investing more accessible to people of all income levels. Some of the other brokerages that provide commission-free trading include Merrill Edge and TradeStation, among others.

How do I choose an online brokerage?

Every investor has his or her own objectives and tastes. You should choose a firm that offers platforms and tools that are easy to use, as well as financial solutions that match your investing strategy. Fees might significantly reduce the amount of money you make from your investments, so keep an eye on commissions, fees, and pricing for any services you may require in order not to be caught off guard by an unexpected charge.

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Bitcoin Cash (BCH)

Bitcoin Cash is one of the most popular forks of Bitcoin’s original network. The concept for the cryptocurrency was generated out of dissatisfaction with Bitcoin’s trajectory away from Satoshi Nakamoto’s initial plan.

The birth of Bitcoin Cash, which is more like a currency than a store of value, sparked a heated debate between supporters of Bitcoin and others who felt that it should be able to trade more quickly and inexpensively.

A so-called civil war erupted around this period, with Bitcoin Cash advocates denouncing the current Bitcoin and declaring it to no longer be the genuine version. In August 2017, as a result of a fork, Bitcoin Cash was introduced. It had a promising start but has failed to live up to expectations since.

Despite the fact that Bitcoin Cash was designed to be a more useful money, many people invest in it. The price of the coin has typical market volatility, but many individuals think its future will be brighter and provide greater value in the following months and years.

What is Bitcoin Cash (BCH)?

Although it is not the most ancient, Bitcoin Cash is one of the most well-known forks of bitcoin. Just before Bitcoin hit its previous all-time high of $20,000 at the end of 2017, Bitcoin Cash was created. It increased the block size in order to allow for more transactions to be processed faster.

It’s worth noting that the cryptocurrency split into Bitcoin Cash ABC and Bitcoin Cash SV in November 2018 (Satoshi Vision). This demonstrates a commitment to keeping bitcoin and other cryptocurrencies growing, however the BCH fork was primarily driven by bitcoin’s 1MB block size restriction.

The block size became too small to handle the growing number of transactions, which caused a backlog and delays in confirmation.

To deal with the issue of increasing transactions, Bitcoin Cash suggested making blocks with a capacity between 8 MB and 32 MB, allowing for more transactions to be processed per block. In a typical Bitcoin block, there are around 1,000 to 1,500 transactions.

During a stress test in September 2018, the Bitcoin Cash network handled 25,000 transactions every block.

This fork’s creator, Roger Ver, has long propagated the idea that Satoshi Nakamoto, who created Bitcoin, was behind a digital currency that could function under stress.

In the view of Ver and supporters of Bitcoin Cash, increasing the block size in Bitcoin will allow customers to utilize Bitcoin as a regular payment method and allow it to compete with huge credit card processing businesses like Visa that charge high fees for worldwide transactions.

Bitcoin Cash (BCH) Fundamental Analysis

Bitcoin Cash has been in the top 10 currencies by market capitalization for much of its history, but it just lost that spot recently. Even at its peak a few days after Bitcoin hit $20,000, the currency’s price was barely over $3,643.

Its price climbed and fell dramatically at first, but it has been less volatile since the end of 2018. The price of Bitcoin Cash fluctuated greatly throughout its first year, but since the end of 2018 and up until now, it has trended downward. In August 2017, Bitcoin Cash reached its all-time high after just two months in operation.

Bitcoin Cash () Technical Analysis

The MACD and RSI also confirmed a bearish break. This is the fourth time I’ve mentioned this, but it’s worth noting: The price broke below its own Lower Low after a bearish Breakout from the Sideways Channel, signaling a downtrend. It’s oversold (RSI 30), suggesting that a swing trade might be feasible at around $100.

There is a downward trend on all time scales, including short, intermediate, and long-term.

The MACD line is above the MACD signal line (bullish), while the RSI is below 45, suggesting that momentum is mixed (bearish). The MACD histogram bars are decreasing, which might suggest a loss of momentum.

In general, volume is flat, which means it swings up and down equally on both sides. As a result, buyer and seller demand and supply are balanced.

Resistance: The $100 mark is the closest Support Line. The resistance levels are $150, $200, $280, and $340 (former support).

Posted in BCH

Posted on and Updated on by coinmarketstrategist

How Tesla moves the crypto markets

Anyways besides macro factors there were a few crypto specific factors that moved the market last week.

The one that everyone’s talking about is the revelation that tesla sold 75 of its btc holdings which of course caused crypto to dip as most of you will know tesla famously revealed that it had bought 1. 5 billion dollars worth of btc early last year. An announcement which eventually led to the massive crypto rally we saw in the months that followed. Some of you might also recall that tesla sold 10 of its btc holdings shortly afterwards. To quote prove liquidity in plain english – the company wanted to prove to shareholders that it could sell off a large amount of btc at a moment’s notice if required at least according to tesla ceo elon musk.

Even with this 10 sale when the crypto market hit its peak in november last year tesla’s btc holdings were worth. Well over two billion dollars nearly double the dollar value of what the company had initially invested after tesla’s recent sale. However the company now holds just 218 million dollars of quote digital currency. A figure which apparently includes an unspecified amount of dogecoins (doge). If you’re wondering exactly how much btc tesla sold the answer seems to be close to 1 billion worth.

If you’re wondering how tesla was able to sell such a large amount of btc the answer is over-the-counter or otc. Basically trades that take place directly between people not on exchanges. This is why it’s unlikely that tesla’s btc sales had any direct effect on btc’s price. Not only that but the sale likely happened some time ago so whatever direct effects tesla’s btc sales did have on its price have already come and gone. The reaction to the news by the crypto market after the fact is irrelevant.

What is relevant however is the reason why tesla sold so much of its btc and what it plans to do going forward. In an earnings call Elon explained that tesla sold its btc because of the constant supply chain disruptions. The company is experiencing notably from China whose zero cough policy continues to put the country into lockdown. This confirmed my suspicion that tesla was forced to sell some of its btc stash case in point Elon emphasized that this sale should not be interpreted as a change in the company’s stance on crypto and that tesla is open to buying back all that btc in the future likely when all the macro headwinds the company is facing start to calm down. Unfortunately there was no news from Elon about when tesla will begin accepting btc as payment.

Something he said the company would do once most btc was being mined with renewable energy. Well in case you missed the memo around 60 of btc is now being mined with renewables so where you at Elon jokes aside there are a couple of publicly traded companies that could follow tesla’s lead if this week’s tech earnings confirm the sector is getting squeezed. .

Posted on and Updated on by coinmarketstrategist

About MATIC

MATIC is a Nordic word that means “to be oneself.”

The Matic Network was founded in October 2017, following a White Paper on the Plasma Framework written by CEO Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. The pair recognized that Ethereum wasn’t fully scalable and took advantage of PoS side chains linked to the root chain.

The point of this is to distinguish what these differences are and how they might impact the value of your investment.

Stakeholders in the blockchain space are interested in scalability, and they believe that proving side chain stakes will help to improve scaling. They anticipate that by demonstrating sidechain stakes, which they think will lower transaction fees, speed up confirmations, and provide a variety of other advantages after scalability issues have been addressed. They are also one of Binance’s newest ICOs on the launch pad.

The Matic network is also attempting to improve usability without sacrificing decentralization and scaling issues. They intend to leverage the existing developer community to provide more dApp features and a better user experience in the future.

 

MATIC Price History

On April 29, 2019, Matic network began its foray into the crypto world. The currency steadily climbed again and again. At the end of May, the price dropped by $0.03 with a few fluctuations, and it continued to fall throughout June until it was down to $0.01 at the beginning of July. The token stayed constant for much of July, when it changed hands for $0.02 per unit.

The cryptocurrency’s market capitalization has been growing at an exponential rate since its inception, from around $1 billion to more than $60 billion in less than a year. The bitcoin supply is limited, and it is expected that the price will rise significantly when this resource runs out. In fact, experts believe that the current price of bitcoin might continue to increase for many years to come. At the end of 2021, Matic was trading for about 0.01 US dollar per token; however, things changed dramatically after mid-November when it dropped down to $0.01 on several exchanges (price fluctuations have been observed throughout November).

On a simple note, the Matic continued to trade at $0.014 in the early hours of January 2020. The price fluctuated from thereon and climbed as high as $0.02 in February. Covid-19 epidemic played a role in plummeting the coin’s value by mid-March to $0.006, while the crypto market fell sharply. Furthermore, towards the end of May, when prices were still low, they rose and resisted at $025 before settling around $012 in late November. At the end of December 2020, Matic was trading at $0.017 per unit (numbers may not be exact).

The MATIC price has broken a new record in 2021, ranging from $0.94 to $2.1, with the greatest recovery rate of all cryptos including Bitcoin and Ethereum monsters. It is expected that most currencies will only increase following the significant price drop recently, according to many traders. Polygon is predicted to have a bright future by many traders, who believe it has endured and maintained its trend despite the fact that several coins have fallen by around 20%.