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The crypto space was flowing through immense negative sentiments in the past couple of weeks where many assets plunge with a massive margin. The constant rejections of Bitcoin prices at $40K initially and later at $35K had shaken the space. Therefore other popular tokens like Litecoin price, XRP price, MATIC price, etc also suffered more than 60% drop from yearly highs. While the other assets follow an unhurried race, Polygon price takes a gigantic long jump.

The MATIC bulls entered the ring right in time and ease the accumulated selling pressure. The price has experienced an extreme drain off in the last trading day, that it was on the verge to mark the lowest levels that the mid-may crash. However, the asset retraced like a giant accumulating more than 30% gains.

maticprice

The price was following a descending channel where-in each attempt to break the channel resulted in lower lows. The extreme sell-off that initiated since the beginning of July compelled the price to break the lower support levels. However, the fresh surge kept the hopes of a notable surge above $1 alive.

As mentioned in the chart, the Polygon price needs to clear the upcoming barriers at $0.85, $0.97 and finally at $1.06. This would confirm the uptrend into a substantial bullish trend which may also push the price above the ATH. With a notable rebound, the targets remain unchanged or can say escalated. A popular analyst, CyrilXBT predicts a $15 target for MATIC price by EOY.

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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Bitcoin Analysts Regard a Short-Squeeze, Crypto Market Analyze

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The funding rate scales the cost to fund long positions in the market for bitcoin ever lasting changes. In another word, a type of derivative in the cryptocurrency markets look like futures contracts in traditional markets.

Since June, total assets under management across exchange-traded. And also over the counter traded digital asset investment products dropped by 14% to $34.8 billion.

Weighed up with traditional asset classes, digital asset markets still own a “long way to go before more risk-averse investors are fully at ease,”. Based on a report by CryptoCompare.

NFT effect on Ether

As NFTs obtain reputation regardless of an overall bearish sentiment in the crypto market. Some NFT critics inside the market took to Twitter blaming the non-crypto natives who withdrew their Ether at once after NFT sales for the uninspired price movement of the second-largest cryptocurrency by market capitalization.

However, based on multiple analysts and market contributors, the effect of NFT sales, stays a nonfactor on Ether’s prices. Instead, the complaint showcases many traders and investors’ frustrations in a slow market.

The guess“is more like a reflection of the current market sentiment,”. Daniel Lv, co-founder of China-based blockchain Nervos Network, told Muyao Shen through a representative.

The blame, though, isn’t all irrational since growth in the NFT market has not quite slowed down partly because of the large number of confirmations, got from non-crypto celebrities.

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Celebrities Who Have Invested in Bitcoin

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Bitcoin, and cryptocurrency in general, is an ever-growing phenomenon in the 21st century. Since the invention of Bitcoin in 2009, Bitcoin stocks have grown rapidly. People today are becoming more and more accepting of Bitcoin, with seventeen percent of the American adult population admitting to having invested in Bitcoin, and even more admitting that they’ve invested in other cryptocurrencies. 

It isn’t just regular, everyday people who have shown an interest in Bitcoin, and crypto, though. Many major celebrities have embraced digital currency, and have made quite a pretty penny out of it. In this article, we will take a look at a few celebrities who have invested in Bitcoin and the profits they have made. 

But first, let us take a look at how Bitcoin investment works, and how you can profit off of it.  

How to Profit off of Bitcoin

The best way to profit from any form of digital currency is to make an account at one of the many crypto trading sites. These sites offer an interface that is easy to use for beginners and allow new investors to purchase or sell their digital assets. Most trading sites require little else than a password, email, and username.

One of the sites which offer these benefits is Bitcoin Power. Not only is it easy to use, but it also provides a safe and secure network, allowing you to track your earnings at any point in the day, in real-time. Also, these sites use new Artificial Intelligence technology to read and predict the volatility and fluctuation of the crypto stock market and allow you, as an investor, to make the best investments and maximize your profit.   

Now let’s take a look at a few celebrities who have embraced cryptocurrency as a viable method of profit, and how it went for them.  

Paris Hilton

Hotel heiress, actress, and social media influencer, Paris Hilton has admitted to dabbling in Bitcoin and NFTs. Last year, Ms. Hilton admitted to purchasing stocks in Bitcoin, and subsequently, she changed her social media profile images to feature laser eyes. The laser eye meme is associated with the rise of the stock of Bitcoin. 

When questioned further about bitcoin and NFT’s in the interview, Ms. Hilton claimed Bitcoin is the future, and she is very excited about the opportunities it can provide. In March of 2020, Ms. Hilton won the NFT Charity Award for her first NFT, which subsequently blew up and has been very exciting for the young heiress.  

Mike Tyson

Bitcoin has become quite a popular form of currency in the boxing world, with many professional boxers, such as Floyd Mayweather looking into, or already investing in the cryptocurrency. But, in 2016, ex-heavyweight champion, Mike Tyson, took his interest in Bitcoin a step further, with the launch of his very own digital wallet. A year prior, Mr. Tyson had sponsored a Bitcoin ATM, an ATM that allows Bitcoin investors to trade real cash into cryptocurrency. After this proved successful, the ex-heavyweight champion took it further by releasing a digital wallet.

A digital wallet, for those who may not know, is a software system that allows for the safe storage of user information regarding numerous payment methods, including Bitcoin. This move has inspired other professional boxers, such as Tyson Fury to get into the world of cryptocurrency and NFTs

50 Cent

American rapper, actor, TV, and music producer 50 Cent, real name Curtis Jackson, made the controversial decision to accept Bitcoin payments for his album “Animal Ambition” in 2014. At the time, Mr. Jackson got about 700 Bitcoin, which in 2014 was worth around $500.000. A few years later, however, in 2019, the price of Bitcoin skyrocketed, earning the rap legend an astonishing $8.000.000. 

Jackson, in an Instagram post, claimed that he is proud of himself, thought that he had forgotten all about selling his album for bitcoins. 

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  • stellarStellar (XLM) $ 0.260932
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  • ftx-tokenFTX Token (FTT) $ 30.03
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  • cosmosCosmos (ATOM) $ 11.31
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  • compound-ethercETH (CETH) $ 43.49
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  • amp-tokenAmp (AMP) $ 0.049958
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