Technical Analysis of Upcoming Market Movements In today’s technical analysis update, we delve into the inverse relationship between the DXY (US dollar index) and BTC’s price, provide an analysis of the Elliott wave count on Ethereum, and examine Bitcoin’s longer-term price cycle. With the upcoming FED interest rate decision scheduled for early hours tomorrow and the US Mid-Term elections on November 8th, brace for a highly volatile few weeks ahead. For an extensive breakdown of the FED interest...Continue Reading
After months of confusion and the avoidance of a full blown trial, Elon Musk has now completed his purchase of Twitter. Could this be a good thing for cryptocurrency and blockchain technology?Continue Reading
Blockchain Gaming Booms as Cryptocurrency Realm Expands With the cryptocurrency realm expanding, blockchain gaming is experiencing substantial growth, offering gamers worldwide an increasingly diverse array of choices for leisurely gaming. According to CoinTelegraph, a recent Newzoo report indicated that the video games market is projected to reach $200 billion in 2022, marking a 5.4% year-over-year increase. Furthermore, the report highlights that the gaming sector attracts 3 billion players, a significantly higher number compared to the estimated 320 million...Continue Reading
The Cryptocurrency Market: Cryptocurrency Analysis – October 20, 2022 It’s crucial to consider two factors: The impact of an economic downturn The forthcoming BTC halving event The decline of the US Dollar has exerted downward pressure on all risky assets, including cryptocurrencies, which have been subject to persistent selling throughout the year. Despite cryptocurrencies being perceived as decentralized, BTC has demonstrated a strong inverse correlation with the US Dollar Index (DXY). A rise in the US Dollar results...Continue Reading
The Role of Cryptocurrency in Times of War According to Chainalysis, an American blockchain analysis firm that aids its customers in blockchain analysis, cryptocurrency-related activity in both Ukraine and Russia has increased as a result of the deadly war between the two nations. Due to interest rate hikes to curb increasing fiat inflation as well as numerous sanctions as a result of the ongoing war has led to several spikes in cryptocurrency transaction volumes this year,...Continue Reading
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