Crypto markets have disappointed investors and traders alike this year. Many crypto platforms came crashing down in 2022 while several top coin prices have touched new lows. Amid extreme volatility and rising inflation, it has become important for users to decide whether cryptos are worth investing in now or should retail investors look beyond cryptocurrencies. However, experts’ views differ on these questions.
Cryptocurrency
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Cryptocurrency is a type of digital currency that generally only exists electronically. Bitcoin and Ether are well-known cryptocurrencies, but there are many different cryptocurrency brands, and new ones are continuously being created.
Bitcoin Price and Bullish Technicals 2022
Bitcoin price has crashed 17% since April 4 and is currently bouncing off the 200 three-day Simple Moving Average (SMA) at $39,506. This downswing was a major bearish event as BTC dropped below the bullish crossover between the 50-day and 100-day SMAs.
Crypto.com Price in Trouble as Ready for 12% Technicals Correcton
Crypto.com price is offering significant sell signals. Traders should proceed with caution.
- Crypto.com price may have printed a 5th wave impulse.
- CRO price has a substantial RSI divergence.
- Invalidation for the bearish thesis will be a close above $0.492
Bitcoin Price Could Continue to Decline As on-chain Data Suggests BTC Bears Are in Charge
Bitcoin Price: Blockchain data suggests that the leading cryptocurrency may be in a sustained bear market as over 4.7 million Bitcoins are now held at an unrealized loss. Several bearish signals indicate that the bellwether cryptocurrency could continue to decline.
Crypto Is Like a ‘Ponzi’ Scheme, India’s Central Bank Warns
In a strong warning to Prime Minister Narendra Modi’s government, a top official at India’s central bank reiterated concerns over cryptocurrency trading, likening the virtual coins to Ponzi schemes.
Solana price set for $100 as crypto markets look to the upside
Solana (SOL) price saw its bullish reversal stop short on Sunday and is now nearing the monthly S2 support level again at $89.28. Although ASIA PAC equity and European indices are firmly in the green, the sentiment has not spilled over to US futures and cryptocurrencies yet. Expect a bounce off the monthly S2 support level and look for a first test at $100 to the upside before continuation this week towards $130.70.
Crypto.com Suspends Withdrawals After ‘Unauthorized Activity’
Crypto.com said it stopped all deposits and withdrawals while it investigates “unauthorized activity” on some accounts.
Crypto Can’t Beat Gold as an Inflation Hedge, Neal Bhai
The world’s second-biggest gold miner is confident prices will hold firm this year, if not rise, as investors use the metal rather than cryptocurrencies to hedge against inflation and jewelry demand picks up.
Taper talk: Gold, Oil, Cryptos, Critical US Data Eyed
The US dollar is edging higher on signals the Fed is nearing tapering bond buys. ADP’s NFP and the ISM Services PMI are set to rock markets. Oil extends its rise, cryptos move higher and AMC’s stock grabs attention with parabolic rises.
Investors Cheer After RBI Clarifies Crypto Trading Isn’t Banned
Crypto Trading Isn’t Banned: The Reserve Bank of India’s decision to remove a 2018 rule that forbid banks from facilitating cryptocurrency trades comes as a welcome relief for a community facing push-back from traditional lenders needed to help settle these deals.