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Bitcoin Price Prediction: BTC/USD Retests $34,800 High

Bitcoin Price Prediction: BTC/USD Retests $34,800 High

Bitcoin Price Prediction – June 23

The Bitcoin bulls are working hard to nurture a bullish trend from the support at $31,708.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $40,000, $42,000, $44,000

Support Levels: $27,000, $25,000, $23,000

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BTCUSD – Daily Chart

BTC/USD is currently trading 2.66% higher on the day after the coin opened the session at $32,538 and touches the daily high of $31,708. The first digital asset is moving within the short-term bullish trend amid low volatility. The current conditions imply that the price may stay range-bound during the next trading hours as the coin remains below the 9-day and 21-day moving averages. Meanwhile, the technical indicator Relative Strength Index (14) may start moving sideways.

Bitcoin Price Prediction: What to Expect from Bitcoin

At the opening of the market today, after testing the low of $31,708, the Bitcoin price is currently hovering at $33,402. Meanwhile, looking at the market movement, there is likely that the market may experience a quick retracement or sell-off just after touching the crucial $34,000, and traders may see $35,000 to $38,000 being tested again before pushing higher.

On the downside, if the market decides to fall, the Bitcoin price could fall towards the lower boundary of the channel at $28,000, and if that support fails to hold the sell-off, traders could see a further decline towards the support levels of $27,000, $25,000, and critically $23,000. All the same, any further bullish movement towards the upper boundary of the channel may hit the resistance levels at $40,000, $42,000, and $44,000.

BTC/USD Medium – Term Trend: Bearish (4H Chart)

When compares with the 4-hour chart, the Bitcoin price first touches the daily high of $34,881 but now dropping slightly. If the price continues to drop further and moves below the 9-day and 21-day moving averages, it could reach the nearest support levels at $30,500 and below.

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BTCUSD – 4 Hour Chart

Moreover, if the bulls push the coin above the upper boundary of the channel, the Bitcoin price may likely reach the potential resistance levels of $36,000 and above. Presently, the market may be indecisive as the technical indicator Relative Strength Index (14) indicator moves above 40-level.

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Ripple Price Prediction: XRP/USD Trades Above $0.60

Ripple Price Prediction: XRP/USD Trades Above $0.60

Ripple Price Prediction – June 23

The Ripple price is rising with a gain of 13.72% over the past 24 hours as it rises above the $0.60 level.

XRP/USD Market

Key Levels:

Resistance levels: $0.90, $0.95, $1.00

Support levels: $0.20, $0.15, $0.10

Ripple Price Prediction
XRPUSD – Daily Chart

XRP/USD is now holding strong above $0.60 and this level has been supporting the market since a few days ago. Moreover, it could be possible that the more the resistance level of $0.60 is tested, the more it is likely to break higher. On the other hand, if the Ripple price crosses below the lower boundary of the channel, traders could expect the market price to break beneath and this may likely test the critical support levels of $0.20, $0.15, and $0.10.

Ripple Price Prediction: What Could Be the Next Direction for Ripple?

According to the daily chart, the Ripple price is hovering around $0.62 with a slightly bullish movement towards the 9-day and 21-day moving averages. However, should in case the bulls put more pressure on pushing the Ripple price above the resistance levels at $0.90, $0.95, and $1.00. Moreover, the technical indicator Relative Strength Index is beginning to recover from the oversold region as the signal line crosses above 30-level. However, the bulls may remain in control until a larger divergence to the upside is noticed.

Comparing with Bitcoin, the Ripple price has been trading slowly below the 9-day and 21-day moving averages. After bottoming out around the 1641 SAT level, the price begins to slowly ascend and is currently trading around the 1861 SAT. However, the Ripple price is now contained within the channel as traders wait for the bulls to hopefully push the price above the 9-day and 21-day moving averages.

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XRPBTC – Daily Chart

On the upside, if the bulls can break above the 9-day and 21-day MAs, traders can expect initial resistance at 2300 SAT. Above this, higher resistance is located at 2400 SAT and above. Alternatively, If the sellers push the market below the lower boundary of the channel, XRP/USD may hit the critical support at 1200 SAT and below. Meanwhile, the Relative Strength Index (14) is moving away from the oversold condition to cross above 30-level and it’s likely to follow a bullish movement.

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[Guest Post] The True Use Cases for Bitcoin and Its Role in Banking the Unbanked

[Guest Post] The True Use Cases for Bitcoin and Its Role in Banking the Unbanked

Bitcoin and cryptocurrency as we know it was born from Satoshi Nakamoto’s dream of creating a peer-to-peer electronic cash system. The white paper proposed a system that would replace the need for central authorities like banks and financial institutions to facilitate transactions: “What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.”

While the market has evolved from what was formerly the Wild West to become a crucial vehicle for change and hope in emerging markets, it didn’t come without hurdles turned opportunities and solutions from peer-to-peer finance mechanisms offered from platforms like Paxful. The true use cases for Bitcoin, including payments, e-commerce, remittance, wealth preservation, and social good, have helped free the unbanked and underbanked populations from an economic prison by providing them with a simple way to participate in the global economy.

The three ways in which Bitcoin transformed from the Wild West into a vehicle for change includes peer-to-peer cash and trading platforms, which serve the primary goal of giving everyday people a global financial system without closed doors or artificial barriers for legitimate transactions. The human layer puts a face on the people behind the communities that are not being properly banked and are forgotten about when it comes to traditional finance. Additionally, a growing sharing economy has further brought peer-to-peer interaction front and center in hopes of growing economies worldwide.

By employing Bitcoin via peer-to-peer transactions, the true use cases have been implemented in emerging markets or places where previously unbanked communities did not have opportunities to partake in any form of financial interactions. The use cases we’ve seen provide the most prosperous pathways to economic freedom, including payments, e-commerce, remittance, wealth preservation, and social good.

Simple peer-to-peer payments via bitcoin have allowed the unbanked to buy and sell digital currency and easily transfer it to their accounts, providing emerging markets with a vessel towards financial freedom. With e-commerce on the forefront of an interconnected society, peer-to-peer trading has provided these same emerging markets with a place to become their own bosses and entrepreneurs, selling bitcoin for cash via peer-to-peer platforms. With remittance becoming a vehicle around outlandish fees for immigrants in emerging markets to send money home, peer-to-peer platforms and Bitcoin have provided a way to send digital currencies without charges. Wealth preservation in inflated countries has given these same communities another choice when it comes to debt-free capital, while social good has seen actions from Paxful from their #BuiltwithBitcoin initiative, a philanthropic project to build 100 schools in Africa. Additionally, the Bitcoin Cash Association launched an initiative where $1,000 worth of bitcoin cash is sent to the two eatBCH campaigns in Venezuela and South Sudan every month, feeding the hungry and turmoiled in both countries.

So where are we seeing the unbanked beginning to be banked? Africa has been leading the charge and we’ve seen it with the “Cheetah Generation” taking hold of their futures and vying for a better one through education, financial freedom, and the growing desire for change. With South Sudan’s inflation rate at 102% between September 2016 and September 2017 according to the World Bank, and other countries with double-digit inflation rates including Egypt, Ghana, Malawi, Mozambique, Nigeria, Zambia and Zimbabwe, the citizens of these countries have begun to take control by transacting in Bitcoin as opposed to their local currencies.


Author Bio

[Guest Post] The True Use Cases for Bitcoin and Its Role in Banking the Unbanked

Paxful co-founder & CEO Ray Youssef

Ray Youssef, co-founder & CEO of Paxful, is a technology expert, crypto enthusiast, philanthropist and more. The hashtag ‘BuiltbyBitcoin’ is his baby. Eight years ago his IT startup had failed, his life savings were gone and he was homeless on the streets of California. He met his fellow co-founder, Estonian native Artur Schaback, in similar circumstances. Both were trying to rebuild their lives and the opportunity that is Bitcoin offered them an idea. Paxful was born, a peer-to-peer Bitcoin marketplace for people to trade gift cards, currency and alt coins without the need for banks or intermediaries. Paxful is like the uber of banking, or rather for the unbanked. #BuiltByBitcoin started as a project funded by Paxful and ZamZam water to build schools throughout Africa that provided general education but also taught these emerging markets how to use Bitcoin for financial freedom. His Paxful marketplace also offers an understanding of how in general Bitcoin can be used for good. Youssef sees Paxful delivering three valuable elements to people working in Nigeria and similar countries. ‘If they transfer their money into Bitcoin they are safeguarding their wealth.’ He says. ‘Then entrepreneurs who are buying and selling outside of Nigeria are also still able to trade — despite the online limits. Finally, Paxful is restoring business.Guest post & image via public relations firm Hokku
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Bitcoin Price Prediction: BTC/USD Unable To Break Above $33,260

Bitcoin Price Prediction: BTC/USD Unable To Break Above $33,260

Bitcoin Price Prediction – June 22

As revealed by the daily chart, the Bitcoin price remains flat and it is unable to break above $36,000 or below $31,000.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $40,000, $42,000, $44,000

Support Levels: $25,000, $23,000, $21,000

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BTCUSD – Daily Chart

While remaining as the most influential cryptocurrency, BTC/USD is technically supported by the $30,000 on short-term and $31,000 support on a medium-term. If the Bitcoin price drops below these supports, we should expect long-term support at the $30,000 – the May 19 surge level. Considering the descending channel on the daily chart, the $35,500 resistance is an essential bullish breakout for the market.

Bitcoin Price Prediction: Bears Ready Break Below $30,000

The Bitcoin price is still roaming around $31,403 following the bounce at $31,150 support during the price movement today. Looking at the daily price chart, we can see that the bearish supply has been turning heavily in the market, but the bulls are trying to defend the $31,000 – $31,500 supports as well. Meanwhile, the $30,500 may come into play if the coin breaks the mentioned supports.

However, the critical support level for the king coin is $28,000 at the moment. If the level breaks, we should see a bearish walk to the supports of $25,000, $23,000, and $21,000. Meanwhile, the $35,000 resistance is also a potential resistance level on the upside, but traders need to have a clear break above $38,000 before traders can consider a bull-run to the resistance levels of $40,000, $42,000, and $44,000 respectively. The Relative Strength Index (14) is currently moving below 35-level, reflecting that BTC/USD is facing a downward trend.

BTC/USD Medium-Term Trend: Bearish (4H Chart)

Looking at the 4-hour chart, the Bitcoin price is hovering below the 9-day and 21-day moving averages. In the meantime, the coin is still expected to fall below $29,000 and it is making a bounce back. Meanwhile, as the coin is preparing to cross below the lower boundary of the channel, it can take time for bulls to push the price above $33,000. If not, the upward movement may likely reach the $34,000 and $36,000 resistance levels.

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BTCUSD – 4 Hour Chart

However, as the king coin continues to drop, the immediate support is close to the $29,000 level. More so, the Bitcoin price could drop drastically below $28,000, which could test another support at the $27,000 level and below. Technically, it is likely for BTC/USD to drop more as the technical indicator Relative Strength Index (14) moves into the oversold region.

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Dogecoin Price Hits $0.176 after a 22% Dip – Where to Buy DOGE

Dogecoin Price Hits $0.176 after a 22% Dip – Where to Buy DOGE

Altcoins are having a hard time recovering, with the majority of them deep in the red zone. One of the worst-hit tokens is dogecoin, which has lost 22% in the past 24 hours.

In the past month, DOGE has lost nearly half of its value. However, those who invested at the beginning of the year are still in profit since the token’s current price is almost 7,000% higher than what the coin was trading at the beginning of the year.

At the time of writing, DOGE had sunk below critical $0.20 support levels and traded at $0.176 on major exchanges.

Dogecoin Price Analysis

It seems that DOGE’s glorious days may be coming to an end. The meme coin gained popularity after Elon Musk affiliated himself with it and promoted it on his Twitter account. However, Musk is yet to come to the rescue of DOGE this time round. His silence comes weeks after a threatening video by the Anonymous hacker group was released, criticizing him for misusing his power over the crypto market.

DOGE Price Analysis 22 June 2021
Source: TradingView

The chart above shows how dogecoin has been performing this month. The highest downtrend for the token started this week, as can be seen above, which could be attributed to the lack of support from the broader crypto market. After BTC sunk to almost $31,000 at the beginning of the week, altcoins followed suit and dogecoin was not spared.

Dogecoin needs to push past $0.20 to prevent a further retreat. Currently, the meme coin is on the verge of losing its coveted position among the top ten cryptocurrencies. Losing its space could be devastating for the token.

Dogecoin holders are urging Elon Musk to step in and save the meme coin from any further turmoil. However, his silence on the matter could indicate that the billionaire is keeping his sentiments about the crypto market to himself ever since he was accused of manipulating the market and misusing his power in the sector. However, not all is lost, and we may see the CEO tweeting about his favourite coin soon.

The current price movement could be because of a market correction, given the coin’s massive gains. However, it is worth noting that DOGE’s price gains merely resulted from investor demand. If the token gains practical adoption for use in the real world, such as in global financial systems, its value will definitely shoot.

Dogecoin has a strong community of fans compared to other cryptocurrencies, which is one of DOGE’s strengths that will help it with its long-term value. Due to its growing fan base, dogecoin has been accepted as a payment method for Wag, a dog-walking app. An increase in use-cases for DOGE will boost demand and hence value.

How to Buy DOGE

To purchase dogecoin, you need to create an account on a crypto exchange. One of the exchanges that support DOGE is eToro. The exchange is highly secure and reliable. Besides, its trading fees are highly competitive, and it offers a wide array of outstanding features for new investors. In addition, the exchange is among the few that offer copy trading, and if you have never traded crypto before, the exchange will provide you with a demo account where you can learn.

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