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On Saturday, bitcoin was trading at $30,667, down 10.16 percent on the day. It was the biggest percentage drop in a single day since June 21. The most popular cryptocurrency has recovered to levels above $32,000. However, it appears that the upward trend was brief and not particularly delicious for investors. After over a year in a parabolic climb, the price of bitcoin is now in a decline. 

Any decrease below the current level could result in a drop below the vital support level. If BTC/USD falls below the $30,000 support level, as it has already done, the coin can rely on long-term support levels of $28,000, $26,000, and $24,000.

Parabolic SAR Hints Bearish Price Sentiments

On monthly timescales, the latest selloff crossed the parabolic SAR, and in the past, when this happened, BTC plunged by 72 percent or more against the dollar. The post-SAR drop peaked at a startling 86 percent, which is quite close to the figures revealed by Brandt. 

With the tool activated, Bitcoin is still at risk of falling below $20,000 or even lower, despite having experienced the lowest percentage decrease in history. Even at 84 percent, which is what happens when the parabola is broken, the top crypto asset might return to approximately $10,000.

Scott Minerd points out at Bitcoins Real bottom point

Bitcoin bulls should not rejoice just yet, according to Guggenheim CIO Scott Minerd, as $10,000 would be the digital asset’s “true bottom.” During an appearance on CNBC on Friday, Minerd expressed his thoughts. According to reports, his current uber-bearish aim is predicated on the current technical picture. He does agree, though, that his aim is a little “excessive,” and bulls should expect a price call of $15,000 instead.

Even if the next selloff is the lowest ever after such a signal, Bitcoin might still be on the verge of falling below $20,000. At $32k, BTC Price needs to build firm support. It would next have to break past the $34,000 pivot to support a run at the first big resistance level at $35,000.

Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

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Is Elon Musk’s Remark to #Hashledger Is Implying to #Hedera? Is This a Big Catalyst for HBAR Price?

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Hedera momentum is building, and with Elon Musk’s mention of #hashledger at the B-word event, it appears like the Hbarians’ celebration is just getting started. Elon Musk was referring to Hedera, as confirmed by a tweet from a founding member of the HBAR community.

HBAR is a cutting-edge technology that is being used by businesses all around the world. Hedera has grown to become one of the largest crypto networks in the world. As additional transactions are added to the network, the speed of transaction verifications rises, but it remains entirely undetected. It’s big and has a lot of uses, and it’s one of the big players. 

Also Read : Elon Musk Reaffirms Support For Bitcoin in the B-word Event, Markets Sentiments Turned Bullish!

HBAR Price Analysis

Although the HBAR price is currently bearish, the cryptocurrency price began surging at the start of 2021, and the positive trend lasted until mid-March when it reached an all-time high of $0.45. The currency failed to break through the all-time high price in April before entering a bearish trend that has lasted till today even though the asset was seen trading in the green zone in the past week.

Hbar closed the day at $0.17. Hbar is currently trading at $0.16, after a bearish start to the day. In the previous 24 hours, the price of HBAR has risen 2.51%. Currently, Hbar must avoid the key initial support level of $0.15, which is followed by $0.14 and $0.13. The biggest resistance level on the upside is $0.20, followed by $0.25. As long as it retains a critical support level, HBAR will resume its bullish trend. 

Since its ATH, the lowest price was $ 0.139984. (cycle low). Since the last cycle low, the highest HBAR price was $ 0.212739. (cycle high).

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Polkadot Will Compete with Ethereum to Reach a Price of $100, Expects Industry Veteran

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Crypto-fintech expert and industry veteran Keith Bliss, the president of fintech solutions provider company Capital2Market, believes that Polkadot, the ninth-largest cryptocurrency in the market, may witness significant growth in the next three years

Keith Bliss: A Veteran in the Industry

Keith has remained associated with the fintech industry since the late nineties. At the beginning of his career, he sold time-order-management systems. The large buy-side asset managers were Bliss’s clients. Gradually he moved on to the dealings of electronic trading systems. These systems created a link between the institutional buy-side players and the sell-side players, facilitating seamless equity transactions for Wall Street. 

Bliss has been a witness to the fintech industry’s gradual growth. His experience in the industry makes him optimistic about the evolution of cryptocurrencies and the process of asset tokenization. But his reasons to believe in Polkadot’s potential growth story go far beyond the general hopefulness around the crypto industry.

The Factors Driving Polkadot’s Growth

Keith believes that Polkadot will grow in the imminent future as a competitor to Ethereum. To back his claim, Bliss cites the growing inclination among developers to turn to Polkadot as a foundation for building their platform. But why is it so? 

As we know, Ethereum, unlike Bitcoin, is seen more as an enabler of application development than as a store of value. Its smart contracts and other technological benefits have immensely helped DeFi to grow in applicability and usage. Yet, when developers develop something on Ethereum, the additions get coded right onto its blockchain. With a growing number of applications, these coded additions stunt the transaction speed of Ethereum and take a toll on its scalability. 

Polkadot solves this problem through its bridges. Polkadot can connect with other blockchains through bridges. Such a bridging system allows developers to work with their applications without building right into Polkadot’s main blockchain. Resultantly, Polkadot retains its scalability. However, Bliss does not believe that these advantages would make Polkadot replace Ethereum, as Ethereum already has a much higher adoption rate and is working on future upgrades. But, Polkadot will emerge as one of the strongest competitors of Ethereum. 

Estimating the Future Price of Polkadot

On one hand, Polkadot is a new entrant in reputed exchanges like Coinbase. It also does not have products like Ethereum ETFs or ethereum futures. But, at the same time, it has parachains, independent blockchains that connect to and run off its network. These parachains can attract developers in bulk to turn towards Polkadot as their preferred DeFi application protocol. As the developer pool grows, the Polkadot ecosystem can continue to prove that it’s here for the long term.

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Altcoins To Surge Nearly 80% To 150% In Upcoming Bull Run!

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The crypto space is experiencing a huge roller coaster ride nowadays and the previous day surge was the phenomenal one. Amid the B-Word Event, the Bitcoin price gained a notable push and the other altcoins also ranged above the levels. Currently, the Ethereum price is all set to propel high with notable gains. However, the second half of 2021 is expected to be more fruitful.

It is a known fact that the crypto market flows with the BTC price and hence a substantial jump could ignite the altcoin market. Currently, the price is attempting hard to break the immediate lower high above $33,000. And later the rally above $35,000 seems to be imminent which could ignite the price to head towards $40,000. The price needs to sustain above these levels and this is when the altcoins could rise more than 80%.

The bitcoin price received some bullish moves from the event. The price was pushed to $32,600 and before it could register new highs, a strong rejection wick hindered the uptrend. Currently, the price is trying to hold above $32,000 and in order to continue with a bullish momentum, the price is required to smash $33,000. 

btcchart

Despite a substantial push, the price still failed to smash the upper trend line and initiated a consolidation. The rectangle box signifies crucial ranges to hold on to in order to propel further. The altcoins like Ethereum(ETH), Cardano(ADA), Stellar(XLM), Polygon (MATIC), XRP, AAVE, etc and many more could record a series of double-digit gains in the coming days. 

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  • bitcoinBitcoin (BTC) $ 32,745.00
  • ethereumEthereum (ETH) $ 2,061.40
  • tetherTether (USDT) $ 1.00
  • binance-coinBinance Coin (BNB) $ 290.94
  • cardanoCardano (ADA) $ 1.17
  • xrpXRP (XRP) $ 0.596425
  • usd-coinUSD Coin (USDC) $ 1.00
  • dogecoinDogecoin (DOGE) $ 0.192266
  • polkadotPolkadot (DOT) $ 12.91
  • binance-usdBinance USD (BUSD) $ 1.00
  • uniswapUniswap (UNI) $ 17.73
  • bitcoin-cashBitcoin Cash (BCH) $ 444.10
  • litecoinLitecoin (LTC) $ 121.06
  • solanaSolana (SOL) $ 27.37
  • chainlinkChainlink (LINK) $ 15.86
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 32,733.00
  • stellarStellar (XLM) $ 0.261131
  • matic-networkPolygon (MATIC) $ 0.903287
  • ethereum-classicEthereum Classic (ETC) $ 44.71
  • daiDai (DAI) $ 1.00
  • compound-usd-coincUSDC (CUSDC) $ 0.022115
  • theta-tokenTheta Network (THETA) $ 4.77
  • internet-computerInternet Computer (ICP) $ 33.27
  • vechainVeChain (VET) $ 0.067107
  • filecoinFilecoin (FIL) $ 45.89
  • cdaicDAI (CDAI) $ 0.021685
  • tronTRON (TRX) $ 0.055161
  • aaveAave (AAVE) $ 281.12
  • moneroMonero (XMR) $ 199.58
  • okbOKB (OKB) $ 12.89
  • eosEOS (EOS) $ 3.54
  • terra-lunaTerra (LUNA) $ 7.63
  • shiba-inuShiba Inu (SHIB) $ 0.000006
  • cosmosCosmos (ATOM) $ 11.27
  • ftx-tokenFTX Token (FTT) $ 28.83
  • compound-ethercETH (CETH) $ 41.29
  • crypto-com-chainCrypto.com Coin (CRO) $ 0.111409
  • pancakeswap-tokenPancakeSwap (CAKE) $ 13.32
  • leo-tokenLEO Token (LEO) $ 2.78
  • amp-tokenAmp (AMP) $ 0.051669
  • algorandAlgorand (ALGO) $ 0.792719
  • celsius-degree-tokenCelsius Network (CEL) $ 5.85
  • klay-tokenKlaytn (KLAY) $ 0.960318
  • bitcoin-svBitcoin SV (BSV) $ 124.10
  • makerMaker (MKR) $ 2,452.88
  • tezosTezos (XTZ) $ 2.63
  • compound-governance-tokenCompound (COMP) $ 404.24
  • axie-infinityAxie Infinity (AXS) $ 38.03
  • terrausdTerraUSD (UST) $ 1.00
  • neoNEO (NEO) $ 28.80
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