Cardano stands above critical support! Is the ascension imminent?

 Cardano (ADA) is showing bullish signs on its weekly timeframe, while trading within a neutral pattern with a bearish daily.

ADA has been falling ever since it hit an all-time high of $3.10 in August 2021. ADA fell to $0.40 in May 2022. The price then bounced, but failed to initiate a significant upward move.

The daily chart shows that the price has been trading inside a symmetrical triangle since the May 12 low. Such triangles are considered neutral patterns, meaning both a breakout and a collapse remain valid possibilities.

However, the triangle emerges after a downward move, so an eventual breakout would be more likely. Also, the daily RSI has broken out of an ascending support line (green line) and is currently below 50. So, unlike the weekly time frame, which gives a bullish outlook, the daily time frame is bearish.

Due to the presence of the triangle, the most probable number of waves indicates that the price is in the fourth (black) wave of a five-wave downward move that started from an all-time high.

A drop below $0.43 (red line) will confirm this number, while a rise above $0.59 (green line) will invalidate it.

The famous investor is analyzing what will happen in cryptocurrencies in the coming months.

Senior investor Peter Brandt has something to say about the next generation of traders. Seeing that investors are moving away from Bitcoin and altcoins, the analyst weighs what will happen in the coming months.

 

  Peter Brandt calls out to Bitcoin investors, says what's going to happen in the coming months Crypto analyst Peter Brandt is among those who think the current generation of traders is all about money. According to him, most investors lack plans to trade or recover capital.

  The new generation of traders “buy to get to the moon and lose their hard-earned money as a result”. So Brandt likens these traders more to gamblers who don't know the fundamentals of the markets and how to protect their capital.

 The current market crash has caused many people to talk about the future of the industry represented by investors and analysts. Over the years, many crypto enthusiasts have emphasized the importance of following experts even in the face of adverse market conditions. These fanatical investors are called maximalists. For example, Bitcoin is the most popular cryptocurrency among maximalists. To this class of investors, cryptos are not just about money, they are an asset about technology and the future. 

 “Now, that mentality seems to be changing with the next generation of traders. This thesis belongs to popular investor Peter Brandt. In a tweet, Peter explains that for every generation of traders, there is always a eureka moment when they realize what really matters to them. In this sense, existing investors don't care any more about protecting their capital.

Bitcoin and Ethereum at critical levels

Cryptocurrencies have almost collapsed due to the tightening policies implemented around the world to combat inflation, reducing liquidity from global markets. The wave of sales in crypto assets has become a symbol of escape from speculative assets. While the dollar held on to its 20-year high with concerns that the US Federal Reserve (Fed) will raise interest rates at its meeting that will end tomorrow and the US economy will shrink, almost all other currencies depreciated.

 

 However, the flight from risky assets such as the stock market and crypto has accelerated. While Bitcoin, which fell sharply in the morning hours, tested the level of 20 thousand dollars, Ethereum was traded just above the $ 1000 levels. The increase in risks in the economy and the strengthening of the dollar hit risky assets first. While the US stock markets fell 20 percent from the peak and entered the bear market, the decline in crypto assets, which is seen as the most risky investment tool, was sharp.

 While the decline experienced since the weekend has continued, the daily decline in Bitcoin has again exceeded 8 percent and the leading crypto money has reached the critical limit of $ 20 thousand.

What are the reasons for the sudden drop in Bitcoin?

What are the reasons for the sudden drop in Bitcoin?: Here are the reasons for the drop The value in Bitcoin continues. 

 The leading cryptocurrency lost 7 percent yesterday, while Ethereum lost 9.5 percent. The emphasis on monetary tightening in the Fed minutes was effective on the players in crypto. The US Senate's crypto token and events in Kazakhstan also rattled the markets.  

 

 Bitcoin has fallen to its lowest level since the beginning of December. Alongside Bitcoin, the same downtrend was experienced in other cryptocurrencies.

 Bitcoin slid below the $43,000 level with a 7% depreciation after the Fed minutes were released yesterday. The depreciation in Ethereum approached 10 percent in one day. Ethereum was traded at 3 thousand 450 levels. The emphasis on monetary tightening in the minutes of the US Federal Reserve (Fed) was effective in this decline in crypto markets. It is thought that the US regulators will conduct environmental impact research on mining and the events in Kazakhstan may have also affected the market.

Here are the coins whose market value is rising

Bitcoin (BTC) has bounced off the board. It opened a rally of approximately 4 thousand dollars. This, in turn, has led to the revival of the crypto market.

Polygon (MATIC) had its share of blood dye last week. It had lost a certain amount of value. It took its place among the cryptocurrencies that compensated for this loss of value the fastest. Preparing for its peak discovery, the altcoin has made up for last week's wave of selling. MATIC reached its peak level of $2.21 on October 29. Thus, it had broken its peak level. It also marked this price level as a support zone. This top level could extend the uptrend towards $3.37.

Decentraland (MANA) created a long wick chart with panic selling last weekend. MANA, when we look at the daily chart, the $3.61 support seems to remain important. If the resistance price stays in the $4 band, it can find buyers. According to analysts; If MANA maintains the $4 level, it could rise to $5 levels. 

 

Ethereum (ETH), %5.1 oranında değer kazandı. Böylece kripto paraların amiral gemisi BTC'yi geride bırakmış oldu. ETH hafta sonu 3.700 dolar seviyelerini görmüştü. Şu anda ise, yaklaşık olarak 4.360 dolar seviyelerini görmüş durumda.

Piyasa değerine göre ilk 100 içerisinde yer alan BTT, yaklaşık olarak 41.77'lik bir şahlanış yaşadı. BTT tokenı, yükselişiyle diğer altcoinler arasında öne çıktı. Öte yandan, BitTorrent Chain'in BTT yeniden tanımlama planı 12 Aralık tarihinde gerçekleşecek. Bu token aynı zamanda arz olarak da yükselme yaşayacak!

Avalanche (AVAX), ekosistemdeki gelişmeleriyle öne çıktı ve artış yaşadı!Avalanche (AVAX), son zamanlarda ekosistemdeki gelişmeleriyle öne çıktı. AVAX tokenı, %18'lik bir artış yaşadı! Son 24 saatte en çok kazandıran altcoinler arasında yer aldı. Analistlere göre yükselişini uzun soluklu devam ettirecek!

The Bitcoin exchange promised profit and disappeared with the coins it collected.

 This time, Smart Trade Coin's name started to be mentioned in the Cryptocurrency fraud that came to the fore with Thodex and Vebitcoin. Many people who claimed that they were defrauded filed a criminal complaint with the prosecutor's office. 

 

 In the criminal complaint petition submitted by Adem Ay, one of the lawyers of the victims, to the prosecutor's office, it was requested that a lawsuit be filed against Smart Trade Coin and 11 people related to the company, on charges of "fraud through information systems", "qualified fraud", "providing investment advice". 

 In the petition of the criminal complaint, it was claimed that the suspects harmed the victims with their guidance. It was claimed that the suspects registered people in the system under the name of ponzi, pyramid scheme, pyramid structure, and they received commission from each member who became a member, and they also earned a 5% commission every month from the income of the members.

 THE COMPANY IS ESTABLISHED IN THE MARSHALL ISLANDS 

 Adem Ay, who made a statement with the victims of Smart Trade Coin in front of the Istanbul Palace of Justice in Çağlayan, said: “In the last meeting with the prosecutor's office about the Smart Trade Coin company, it was stated to us that there is an imaginary mailbox set up in the Marshall Islands. However, unfortunately, victims and grievances continue to increase. Because the website of Smart Trade Coin company is still open. People still continue to advertise. We're talking about $2 billion on average. A very high amount. Even though the amount they deposited appears in the accounts of the clients, when they want to withdraw, they are warned that it is frozen and they cannot withdraw.”

Bitcoin has recovery signals

Analysts made predictions about Bitcoin (BTC) and general cryptocurrencies! In addition, analysts announced the critical levels in the price of Bitcoin (BTC), leading cryptocurrencies!

 

 Here are the details:

 Katie Stockton of Fairfield Strategies technical analysis firm commented on the cryptocurrency market and critical levels in Bitcoin price. The successful analyst, who examined the long-term picture in the crypto money market, gave signs of recovery. The breakout in the Bitcoin trend was confirmed as it dropped below the $52,000 support zone, he said. She also stated that Bitcoin is at risk of falling to the level of 37 thousand dollars. According to the analyst; If Bitcoin price drops below $44,000, it will drop to $37,000. She stated that Bitcoin has not yet determined a path for itself. The leading cryptocurrency BTC is experiencing fluctuations between the levels of 47 thousand to 49 thousand dollars. According to the master analyst, its continuation at these levels gives signals of recovery.

 Michael van de Poppe said Bitcoin (BTC) is in the support area, which marks a crucial breakout. The $42k zone is where Bitcoin needs to hold. Bitcoin closed at $ 46 thousand to $ 47 thousand. He said that Bitcoin will not lose this space. He said that Bitcoin will continue its bull run despite its long-term fluctuating course. According to the trader, there will be a massive rebound in the overall crypto market. He stated that in the first quarter of 2022, big exits will be seen in cryptocurrencies. He also gave the dates for the first and second quarters of 2022 for the bull cycle. Note: This content is produced for informational purposes only. It does not contain any investment advice.