Here’s How to Purchase Your First NFT Domain on Quik․com – Sponsored Bitcoin News

Here’s How to Purchase Your First NFT Domain on Quik․com – Sponsored Bitcoin News

Minting of NFT domains with exclusive TLDs like .chain, .metaverse, .vr, .doge, .shib, .bored is now live on the Quik’s NFT domain marketplace! Each of these TLDs has a domain minting limit ranging from 1k to 20k, and they work on a first-come, first-serve basis, so ensure that you don’t miss out on your favorite domain.

There are no renewal fees, and it comes with a unique NFT artwork. You can use Quik NFT domains to create your digital identity and become a part of Web 3.0, the internet of tomorrow!

Quik is a blockchain-based marketplace that allows users to mint, purchase, and sell NFT domains with minimum effort without any third parties.

What are NFT Domains?

At first glance, NFT domains look like traditional domain names. But, upon closer assessment, you will discover that blockchain-based domain names have different functionalities and are superior with added functions.

Those running a website know the hassle of annual renewal of their domain names or risk losing it to the open market. However, that’s not the case with Quik NFT domains.

The blockchain-based unstoppable domain names you mint on Quik are owned and not rented. The entire transaction is verified on the public ledger, and once sold, it will always remain in your possession until you decide otherwise.

Quik is currently integrated with three blockchains, Ethereum, BSC, and Gate Chain. Hence, the entire system is tamper-proof, and you can keep different transactions throughout time. The original minter also gets 5 to 10% royalties on every subsequent sale.

In addition, the decentralized nature of NFT domains available on Quik also protects them from any central entity’s censorship, including ICANN and registrars. Once you own a blockchain domain, even Quik doesn’t have the authority to make any changes.

Inside the Quik ecosystem, you will be able toi use these domain names as crypto wallet addresses, and universal user names and build DApps on top of it once Quik launches its web browser and extensions in the future. Or, you can also decide to sell it on Quik and other NFT marketplaces.

Minting NFT Domains

Minting is the process of registering an NFT domain onto the blockchain via your crypto wallet to get full custody of the crypto domain.

NFT domains, according to Quik, address one of the primary difficulties that Web 3.0 operators are attempting to address: providing direct ownership to end-users without the involvement of third parties.

Quik aims to remove roadblocks to Web 3.0 innovation by offering a new means to sell, mint, and acquire NFT domains. Become a part of the adventure right now!

Here’s How You Can Mint NFT Domains on Quik.com

Minting of NFT domains with exclusive TLDs like .chain, .metaverse, .vr, .doge, .shib, .bored is now live on the Quik marketplace! The platform will soon also launch other extensions including .BTC, .Web3, and .address.

You can apply any of your favorite available terms to these extensions. The entire process is quick and effortless on Quik.com and requires you to only click “Mint” over the domain in question. The entire task takes no more than a minute!

Moreover, you can also use its advanced search system to purchase already minted NFT domains listed by others.

Here’s how you can mint your NFT domain through MetaMask on Quik:

  • Using Metamask or Mobile Wallet, log in to your Quik account.
  • Search for the domain name you want from the list to register.
  • If the domain name is available for minting, click “Mint” or select another choice from the drop-down menu.
  • On your wallet, approve the minting transaction.
  • The domain name will display in your Profile section once the purchase has been approved.

Are you ready to create your own NFT domain with Quik? Click here to get started. For more information, read the Quik WhitePaper.

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Experts Say Ethereum Will Grow 100% To Hit $5,783 By Year-End

Experts Say Ethereum Will Grow 100% To Hit $5,783 By Year-End

Ethereum remains one of the most successful cryptocurrencies in the market, although its current price does leave a lot to be desired. It has not been spared from the general market downtrend that has rocked the crypto space and has since lost its footing above $3,000, a crucial point for the digital asset. Nevertheless, it seems the future is not at all gloomy for the second-largest cryptocurrency going by reports from a Finder’s panel.

Ethereum To Surge 100%

A recent Finder’s panel made up of industry experts has released an extremely bullish long-term outlook for the cryptocurrency. The panel which took part in the quarterly survey from Finder consisted of 36 industry experts who shared their forecasts for the digital asset. According to them, Ethereum may very well still be in the early stages of its growth price-wise.

The digital asset which is currently trading a little above $2,800 received some of the best feedback and the consensus was that there is much growing to do in 2022 alone. They put forward that ETH will see another 100% growth this year that would see its price hit as high as $5,783 before the year runs out. 

Related Reading | Brace For Impact: A Dot Com Magnitude Crash To Rock The Crypto Market?

“Ethereum will jump from its current price of US$2,810 to US$5,783 by the end of 2022,” the panel said. “The price is expected to continue to rise going forward, hitting $11,764 by 2025 and $23,372 by 2030.”

Despite the bullish outlook for the altcoin going from current perspectives, it is more bearish compared to the previous predictions. The panel had previously put Ethereum’s price at $6,500 by the end of the year 2022, but the recent quarterly report has seen them adjust this prediction by about 10%. Nevertheless, it remains a good outlook for the digital asset.

Not everyone shared the bullish outlook for ETH though. One expert, John Hawkins, senior lecturer at the University of Canberra, said he sees the digital asset ending the year below $2,000.

ETH price trending at $2,800 | Source: ETHUSD on TradingView.com

How This Will Happen

There are a lot of predictions going around for Ethereum which all hinge on the upcoming upgrades on the network. The move to the consensus layer that will see the network move to the proof of stake mechanism is an upgrade that is anticipated to bolster the value of the token and Finder’s experts seem to think so too.

Keegan Francis who is the global cryptocurrency editor at Finder explained that for him, the long-term outlook for the cryptocurrency remains pretty bleak until the upgrades are carried out. With this would come the ability to scale for the network. However, Francis added that people will continue to buy the cryptocurrency due to “hype, promise, and potential.”

Related Reading | TA: Ethereum Shows Positive Signs But This Resistance Is The Key

The network still remains the leading DeFi platform. But with it losing so much market share to competitors, the cryptocurrency editor does not have a lot of confidence right now. “Ethereum is at a very uncertain place in its journey at the moment,” Francis explained. “It is currently losing DeFi (decentralized finance) market share to its competitors.”

Ethereum continues to trade above $2,800 in the early hours of Tuesday. Its price is up 0.15% in the last 24 hours to be trading at $2,843 at the time of this writing.

Featured image from CoinQuora, chart from TradingView.com



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Uganda Central Bank Tells Licensed Entities to Stop Facilitating Crypto Transactions – Emerging Markets Bitcoin News

Uganda Central Bank Tells Licensed Entities to Stop Facilitating Crypto Transactions – Emerging Markets Bitcoin News

The Ugandan central bank has warned licensed entities and the public against facilitating crypto-related transactions as well as the practice of converting cryptocurrency into mobile money and vice versa. The central bank warned it will not hesitate to act against entities found to be in breach of the country’s laws.

No Entity Issued License to Trade Cryptos

The central bank in Uganda recently issued a statement reminding the public that no business is licensed to offer or facilitate cryptocurrency-related services. The statement warned licensed entities to end the practice of converting crypto to mobile money and vice versa.

According to a report in the Monitor, the warning — which came from Andrew Kawere, the director of payments at the Bank of Uganda (BOU) — comes less than three years after the country’s finance minister Matia Kasaija made similar remarks. In the report, Kawere is quoted reiterating the central bank’s position. He said:

“Bank of Uganda has noted press reports and adverts advising the public that they can covert cryptocurrencies into mobile money and vice versa. We are also aware that such a conversion cannot happen without the participation of the payment service providers and or payment system operators. This is to advise that [the] Bank of Uganda has not licensed any institution to sell cryptocurrencies or to facilitate the trade-in of cryptocurrencies. This is in line with the official government position as communicated by the Ministry of Finance, Planning and Economic Development in October 2019.”

However, in the central bank’s latest circular, Kawere warned licensed entities violating provisions of Uganda’s National Payment System Act, 2020, that the central bank will not hesitate “to invoke its powers under Section 13(l) (b) & (f) of the NPS Act, 2020 for any licensees that will be found in breach of the above directive.”

What are your thoughts on this story? Tell us what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.














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100,000 Cubans Are Using Cryptocurrencies to Bypass Financial Sanctions – Bitcoin News

100,000 Cubans Are Using Cryptocurrencies to Bypass Financial Sanctions – Bitcoin News

On May 2, 2022, a report stemming from the broadcast television and radio network the National Broadcasting Company (NBC), 100,000 Cubans are leveraging crypto assets. The report says increased crypto usage is due to the fact that Cubans cannot use certain payment vehicles due to the sanctions placed on Cuba by the United States.

100,000 Cubans Bypass Payment Bans via Crypto

NBC has published a video report that indicates roughly 100,000 Cubans are using digital currencies like bitcoin. For instance, one particular Cuban cafe owner, Nelson Rodriguez, who accepts bitcoin and ethereum, was interviewed by the NBC news team. He explained that he “believes in the philosophy” behind crypto assets. While showing a number of antique cars still driven by Cubans today, the NBC reporter further says Cubans are embracing the future.

100,000 Cubans using crypto assets is largely due to the increased internet performance during the last three years, the report claims. Another Cuban entrepreneur NBC interviewed discussed how specific payment companies like Paypal, Revolut, and Zelle were banned in Cuba. “We say see you later, [and] we don’t need you anymore,” the Cuban entrepreneur Erich Garcia remarks in the video, further explaining how cryptos can help bypass the traditional finance system. Garcia added:

I will use cryptocurrency to expand my business.

Economist Says: ‘If Cubans Can Use a Separate Payment Channel, Then That Would Be of Interest’

NBC’s report also discussed Cuba’s central bank approving cryptocurrencies and providing licensure guidelines for virtual asset service providers (VASPs). Bitcoin.com News reported on the general framework and regulations the Cuban government advanced in decree number 89/2022. The NBC video report published on Monday also explains that well known financial institutions like Deutsche Bank and JPMorgan have been fined for providing Cuba payment services.

Dr. Emily Morris, an economist at the University College London, details to the NBC reporter via video interview that she’s not at all surprised that Cubans are looking at this technology. Morris explained the benefits of peer-to-peer transactions without the need for a financial institution. If they can use a “separate [payment] channel, then that would be of interest,” Morris concluded.

The reporter also talked to a musician named Ernesto Cisneros who said his income was slashed because of the Covid-19 pandemic. The Cuban musician Cisneros then turned to non-fungible token (NFT) technology, and he transformed his music into NFTs and sells them online. At the end of the video, the Cuban entrepreneur Garcia insists that the use of crypto payments cannot be blocked from Cubans, and “that’s a fact,” he stressed.

Tags in this story
Bypass Sanctions, central bank of Cuba, cuba, Cuban Cafe Owner, Cuban musician, Deutsche Bank, Dr. Emily Morris, Financial Sanctions, jpmorgan, Sanctions, VASPs, virtual asset service providers.

What do you think about NBC’s report that estimates 100,000 Cubans are using crypto assets to bypass strict financial sanctions? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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Why Bitcoin And Stablecoin Dominance Is On The Rise

Why Bitcoin And Stablecoin Dominance Is On The Rise

Bitcoin and the crypto market are back in the red. The first crypto by market cap records a 2% loss in the last 24-hours and could push other digital assets into critical support zones.

Related Reading | Bitcoin Indicator Hits Historical Low Not Seen Since 2015

At the time of writing, Bitcoin is one of the best-performing assets in this ranking only surpassed by Binance Coin (BNB) and Ethereum (ETH), according to data from Coingecko. BTC’s price trades at $37,600 with a 7% loss over the past week.

BTC moving sideways on the 4-hour chart. Source: BTCUSD Tradingview

After a major outage to its network, Solana (SOL) records a 16% loss and stands as the worst-performing cryptocurrency by market cap. Terra’s native cryptocurrency LUNA closely follows with a 15.5%.

These losses seem small when compared to other cryptocurrencies in the top 100 by market cap. Tokens that were higher in the ranking, like Shiba Inu (SHIB) and Avalanche (AVAX), now record as much as 20% losses in one week alone.

According to a recent report from Arcane Research, smaller cryptocurrencies have been underperforming in the current market conditions. Investors seem to be fleeting to “safety” as the appetite for risk decreases pending a potential 50 basis point increase from the U.S. Federal Reserve (FED).

While Bitcoin and larger cryptocurrencies have been showing a correlation with a 16% loss for April, Arcane Research’s small-cap index and mid-cap index are trending lower. The former record a 30% loss while the latter records a 29% loss over the same period.

Conversely, Bitcoin’s dominance has been moving opposite to small coins. This metric stands at 42% with a high probability of extending as macro-conditions continue to prove unfavorable. Arcane Research noted:

Stablecoins also see growing dominance. UST has entered the top 10, becoming the first algorithmic stablecoin to achieve this. We now have three stablecoins among the top 10, and 4 among the top 11, illustrating the current flight to safety tendencies in the market.

Bitcoin BTC BTCUSD
Source: Arcane Research

What To Expect From Bitcoin In The Short Term?

A separate report from FTX Access claims the market is pricing 50 bps hikes for the upcoming four FED meetings. This would place interest rates at around 2 or 2.5 bps for the end of 2022.

Related Reading | Bitcoin Taker Buy-Sell Ratio Rebounds Back Into “Hold” Zone

In that sense, FTX Access claims that unless there is a surprise from the financial institution, the market could see some relief:

Powell’s tone will be interesting but without raising +75bps or increasing the pace of QT it’s a high bar for a hawkish surprise. Some of this is cause for optimism, but unfortunately sentiment is rock bottom.



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Record-high surge in Ethereum Name Service domains triggers 90% rally in ENS

Record-high surge in Ethereum Name Service domains triggers 90% rally in ENS

A handful of industries and tech workers are shifting from Web2 to Web3 and with this move, awareness of blockchain technology is also spreading.

The Ethereum Name Service (ENS) is one project that is looking to help facilitate Web3 adoption by making it easier for DApp users to interact with the Ethereum network. This is accomplished through the creation of human-readable Ethereum addresses that can be converted into the normal machine-readable alphanumeric codes.

Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $14 on April 26, the price of ENS has surged 91.75% to a daily high at $27.65 on May 2 amid soaring 24-hour trading volume.

ENS/USDT 1-day chart. Source: TradingView

Three reasons for the recent price turnaround for ENS include the sudden increase in demand for 3- and 4-digit ENS domains, a new record high number of domain registrations in April and a rise in protocol revenue that has helped increase the funds available to the ENS decentralized autonomous organization (DAO).

Demand for 3 to 4 digit domains soars

The sudden rise in the price of ENS began on April 26 and this move coincided with a surge in the demand for 3- and 4-digit ENS domain names, which possibly became the focus of the nonfungible token (NFT) community.

Daily ENS registrations. Source: Dune Analytics

Along with new registrations, secondary sales for ENS names on OpenSea reached a peak 446 Ether (ETH) worth of volume in the last week.

Some analysts suggested that the demand for shorter ENS domains could be connected to NFT investors who prefer the shorter tag, which reflects the token ID of their NFT — but at the moment, this is an unproven theory.

Record domain registrations in April

The sudden surge in registrations at the end of April capped off a record month for the project, which saw 162,978 new domain registrations, according to data from Dune Analytics.

Monthly domain registrations. Source: Dune Analytics

The record month of growth for ENS also helped push the total registration past the 1 million mark for the first time in history.

At the time of writing, the daily mint count for May 2 stands at 48,702 and there have been a total of 1,063,982 ENS domains minted by 393,894 unique participants since the project launched.

Related: The concept and future of decentralized Web3 domain names

Increasing protocol revenue

As a result of the renewed interest in ENS domains, the protocol saw its second highest monthly revenue at $7,838,962 generated from registrations and renewals.

Monthly registration/renewal revenue for ENS. Source: Dune Analytics

That makes a total yearly revenue of $42,767,760 for the protocol, which is ultimately redirected back into the project’s treasury to be used by the ENS DAO.

According to ENS, the primary purpose of registration fees is to “prevent the namespace from becoming overwhelmed with speculatively registered names.” A secondary function of the fees is to provide enough revenue to the ENS DAO to fund the ongoing development and improvement of ENS.

All ENS token holders have the option to participate in governance votes through the DAO.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.



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Sen. Lummis teases upcoming crypto bill, says NFTs won’t be included in it

Sen. Lummis teases upcoming crypto bill, says NFTs won’t be included in it

United States Senator Cynthia Lummis appeared on a livestream hosted by Axios on Tuesday to tease the highly awaited bill on cryptocurrency she is authoring. The Wyoming Republican said the bill will be introduced as “one big piece so people can see the big picture” and be broken down into five or six components for consideration by the appropriate congressional committees.

The bill, which Lummis is expected to introduce along with New York Democrat Kristin Gillibrand, is designed “so that it works within the traditional framework for managing and regulating traditional assets,” Lummis said. It will divide cryptocurrency oversight between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Oversight of crypto assets will be given to the SEC “when something fits within the Howey Test that makes it a security,” Lummis said, referring to the 1946 Supreme Court decision on the definition of a security.

Regulations must also address altcoins and consumer confidence, Lummis said, adding they need to “allow regulators to separate the wheat from the chaff in the space.” This will make it possible to use crypto for payments and integrate the asset class into 401(k) retirement savings packages, she said.

The Wyoming senator indicated she was confident the bill would pass, as “digital assets are nonpartisan.” She expressed hope it would move more quickly through the legislative process than might be expected for such a complex bill because agencies currently have to “make regulatory decisions on the fly.”

U.S. President Joe Biden’s Executive Order on Ensuring Responsible Development of Digital Assets “dovetailed pretty nicely” with the bill’s proposals, Lummis said, although the bill differs from the president’s regulatory vision in that it would allow non-bank entities to issue stablecoins. Lawmakers would seek advice from the private sector on a stablecoin regulatory framework, she added.

Related: Senators Bragg and Lummis discuss crypto laws collaboration between US, Australia

Lummis mentioned that the bill touches on a central bank digital currency (CBDC) without going into detail. Environmental issues will not be addressed in the bill, nor will nonfungible tokens (NFTs). “It’s so hard to figure out how to categorize them,” Lummis said of NFTs. She indicated that regulators may be able to decide on how and if to regulate them after the passage of the bill.



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Weiss Ratings Report Claims Crypto-Backed Home Loans Spell Trouble – Bitcoin News

Weiss Ratings Report Claims Crypto-Backed Home Loans Spell Trouble – Bitcoin News

A report published on May 2 by the rating agency Weiss Ratings warns that crypto-backed mortgages “spell risk.” Weiss editor Jon D. Markman said backing a mortgage with crypto is an “interesting strategy,” but stressed that during these market conditions “investors should be skeptical.”

Weiss Ratings Editor Doesn’t Believe Crypto and Mortgages Mix

According to the editor at Weiss Ratings, Jon D. Markman, lenders who allow people to use crypto to back a mortgage might be adding more risk to current market conditions. Markman uses the firm Milo as an example, as the Florida-based digital bank is allowing mortgage investors to use digital currencies as collateral. In Markman’s opinion, the trend is similar to the risk-associated home loans that were sold in 2007-2008.

“Pooling risky home loans, then selling them to unsuspecting asset managers, was the recipe for the Great Recession of 2009,” the Weiss editor insists. As long as housing prices continued to climb, homebuyers were able to refinance and everyone got paid, including bondholders.” Markman continued:

However, when housing prices imploded, millions of low credit score borrowers defaulted. The rest is history.

Markman Believes Higher Interest Rates Will Lower Current Home Prices

The Weiss Ratings report further discusses how interest rates are rising thanks to the Federal Reserve’s recent rate hikes. Typically, Markman says, higher interest rates add a lot more to the monthly mortgage cost and in time the Weiss editor believes it will lower home prices. “That’s why plans at Milo are fraught with warning signs,” Markman adds. Milo is not the only firm looking to allow people to use crypto as collateral for a home loan. Abra just recently partnered with the company Propy to offer crypto-backed home loans as well.

The author notes that financial stocks are down considerably this year despite the fact that interest rates are rising. In recent times, a great number of analysts and economists have said cryptocurrencies are correlated with equities markets this year. While Markman doesn’t believe crypto and mortgages mix, the end of the report notes that crypto asset risk is not 100% negative.

“This isn’t to say all crypto risk is bad,” the Weiss Ratings editor concludes. “Just not in the housing sense. No matter what the markets are doing, the potential to succeed in cryptocurrencies is real.”

Tags in this story
2009 depression, Abra, Crypto, crypto as collateral, crypto mortgage, crypto mortgages, Cryptocurrencies, Digital Assets, Equities markets, Florida Digital Bank, home loans, Milo, Mortgages, Propy, Real estate, stocks, weiss, weiss ratings, Weiss Ratings report

What do you think about the recent Weiss Ratings report that claims crypto-backed mortgages are risky? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Bitcoin Indicator Hits Historical Low Not Seen Since 2015

Bitcoin Indicator Hits Historical Low Not Seen Since 2015

Bitcoin bulls continue to be demoralized, as the price per coin grinds continuously at lows for what feels like an infinite amount of time. However, a bottom could be forming, according to an indicator that has reached historical lows not seen since the 2015 bear market bottom.

What followed the last signal, was 10,000% returns and Bitcoin became forever became a household name. While such returns aren’t likely a second time, such oversold conditions could yield some significant, unexpected upside. Here is a closer look at the 3-day Stochastic on BTCUSD price charts.

The Stochastic Oscillator Explained

The Stochastic oscillator is a a range-bound momentum indicator that uses support and resistance levels, created by investment educator George Lane in the 1950s. According to Wikipedia, “The term stochastic refers to the point of a current price in relation to its price range over a period of time. This method attempts to predict price turning points by comparing the closing price of a security to its price range.”

Related Reading | Bitcoin Perfectly Follows Market Cycle Comparison, What Comes Next For Crypto?

The formula provides an asset’s price expressed as a percentage of its price range between 0% and 100%. The goal of the Stochastic – often called Stoch for short – is to spot when prices close near the extremes of a recent range. It is at this point where reversals are most likely to occur. Simply put, the lower the reading, the more oversold and the more likely a bounce is due. The higher the reading, the higher the likelihood of a rejection due to overbought conditions.

BTCUSD saw 10,000%+ ROI following the low | Source: BTCUSD on TradingView.com

Bitcoin Bulls Attempt To Put In A Bottom

Currently, Bitcoin price on 3-day timeframes is at the lowest point in its entire history. The only other time as low, was at the 2015 bear market bottom. A second-bottom followed in the months after, followed by price appreciation upwards of 10,000%. From a low of under $200 per BTC, the top cryptocurrency skyrocketed to nearly $20,000. Crypto was put on the map forever after – what happens this time?

For now, bulls aren’t out of the woods. The Stochastic oscillator consists of a fast stochastic (%K) and a slow stochastic (%D). A signal to take action is triggered when these two lines cross. Bears are in the process of defending a 3-day bull cross, while bulls seek to put in a bottom once and for all.

BTCUSD_2022-05-03_10-18-38

The bullish crossover hasn't yet been completed | Source: BTCUSD on TradingView.com

Both the Stochastic and RSI are used to signal overbought and oversold conditions. The two tools differ in that the RSI measures price velocity, while Stoch relies on the percentage of a trading range formula. According to Investopedia, Stochastic is more effective for a sideways market – exactly what crypto traders are painfully experiencing now.

Related Reading | Time Vs Price: Why This Bitcoin Correction Was The Most Painful Yet

During highly volatile conditions, the Stoch can generate false signals. However, it is hard to ignore a historically oversold signal in Bitcoin for only the second time ever, when the previous precedent provided such profitable results. What will this signal produce this time around?

Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice.

Featured image from iStockPhoto, Charts from TradingView.com



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Bitcoin Taker Buy-Sell Ratio Rebounds Back Into “Hold” Zone

Bitcoin Taker Buy-Sell Ratio Rebounds Back Into “Hold” Zone

On-chain data shows the Bitcoin taker buy-sell ratio has rebounded back into the “hold” zone after touching the selling level.

Bitcoin Taker Buy-Sell Ratio Observes Brief Uplift Recently

As explained by an analyst in a CryptoQuant post, taker buy-sell ratio may have a hint about where BTC can head next.

The “taker buy-sell ratio” is an indicator that measures the ratio between the Bitcoin buy volume and the sell volume.

When the value of this metric is above one, it means the long volume is more than the sell volume at the moment. Such a trend suggests the sentiment is bullish in the market right now.

On the other hand, ratio values below one indicate that the general sentiment among the investors may be bearish right now.

Now, here is a chart that shows the trend in the Bitcoin taker buy-sell volume over the last couple of years:

The value of the indicator seems to have observed a small surge recently | Source: CryptoQuant

As you can see in the above graph, the quant has divided the Bitcoin taker buy-sell ratio into three different zones.

The analyst believes it’s best to buy BTC when the indicator is in the green zone, and to sell during periods of the red region.

Related Reading | Bitcoin Holders Trigger Largest Capitulation In Its History, Bearish Horizon For BTC?

The yellow portion between these two is the “hold zone,” where holding until the metric touches the upper red level can be the ideal course of action.

Recently, the indicator plunged down and tested this upper sell level. However, since then the metric has rebounded back up a bit instead of diving inside the red zone further.

Such a formation has been observed a few times in the last two years, and the analyst has highlighted these with a purple box.

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It seems like the last couple of times this trend occurred, the price of Bitcoin observed some uptrend shortly after.

So if this pattern repeats this time as well, the quant believes the crypto is likely to see another rebound this month or the next.

However, something worth noting is that one more instance of this Bitcoin taker-buy sell ratio formation took place in early 2020, but back then the price instead followed up with a crash.

BTC Price

At the time of writing, Bitcoin’s price floats around $38.3k, down 4% in the last week. The below chart shows the trend in the price of the crypto over the past five days.

Bitcoin Price Chart

It looks like the price of BTC has mostly moved sideways over the last few days | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com



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