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Premium Surprise Weekend News For The Most Appreciated Cryptocurrencies

Rubika Ventures®

This editorial note highlights the fact that Bitcoin is becoming the asset with the highest performance for 2020 after gold, as explained by the independent news.

It is also important to note that there are few days left for the most anticipated event of the year for all crypto fans: Bitcoin’s Halving.

In those remaining ten days, it is very important to make the best decisions and maintain good logic in technical analysis. We say the above because we really do not have the certainty that it will exactly happen.

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The digital asset’s return since February 20 bounced back to around -13.85% today, compared to the S&P 500’s -14.01%. BTC price also surged above $8,000 in the morning for the first time since March 10, while the S&P 500 hit $2,920.

The stock market peaked on February 20 with S&P500 closed at $3,396. Around the same time, Bitcoin was trading at above $9,600.

Both the equity and the digital asset markets then plummeted on March 13, with Bitcoin return dropping to as low as -50% on March 16 and S&P500 touched the -35% bottom at the end of March. Since then, the returns for both Bitcoin and S&P500 had seen steady recovery as their prices climbed up.

In any case, the cryptocurrency market continues to grow. Some altcoins register rises of almost 55%. Bitcoin price gains an average of 16.44% in these seven days as explains criptonoticias.

Its value ranged from $7556 on April 25, to $8753 at the time of this writing and according to Live Coin Watch statistics.

As we had explained in our previous post on Twitter, On the daily chart, Bitcoin created a Shooting Star pattern with suspension on the MA300 resistance or support. Also, indicators show overbought assets, and Bitcoin had a false breaking of the discharge channel.

Fight Between Convergence and Divergence

On the one hand, price closing shows us that it: breaks of the Gann angle (4/1) as a trend line of primary decline; EMA21 at $7562.75; EMA9 at $8161.63; and touch of the main high trend line for the entire market. These latter indicators are now compiled as supports, including the EMA50 at $5843.72, as support for market protection and above 61% of the Fibonacci retraction line.

On the other side, price opening shows us that it has: current resistance at $8722.32, limited by the Logging Span of the Ichimoku cloud, with a support created by Tekan Sen.

Also, we have strong resistance at $9932.33, limited by 50% of the Fibonacci retraction line along with the resistance line of the Ichimoku cloud cluster. Possible and next maximum target to obtain profits with a long operation, in positive case, in more or less $11332.88.

There is still no confirmation of reversal of wave C. The above is being added that the RSI remains neutral with 32 points, and the stochastic RSI does not confirm conversion of trend reversal and points towards a downward trend and correction.

On the other hand, MACD shows some neutrality and lateralization, without confirmation of trend reversal, added to the average volume with a tendency to correct volatility.

Created pattern: bullish engulfing; However, the previous indicators contradict the trend shown.

At the moment, the expectation of correction remains around $ 7815, taking the weekly chart as a reference.

Among the cryptocurrencies with the highest appreciation in these seven days are Siacoin (SC), Cardano (ADA), and Dogecoin (DOGE). Lisk (LSK) and Decred (DCR) complete the top of the 5 cryptocurrencies that increased the most in this period.

The growth was 54.42%, while the market capitalization reached USD 91.6 million, and the trade volume in the last 24 hours was around USD 2.7 million.

Among the announcements related to cryptocurrency is the launch of a new challenge. In a message posted on Twitter on April 27, the platform reported on the ‘DeFi Skynet Hackathon Challenge,’ a competition through which a prize of 500,000 SC (about $ 700) will be awarded to each of the two main projects presenting the better Skynet integration. It is a decentralized CDN (content distribution network) file sharing platform for developers.

In this sense, the message explains that the applications will be evaluated by observing the quality of the user experience, the creativity of the Skynet integration, and the usefulness for other people.

After hitting $0.047 on April 26, it climbs the next few days to trade at a high of $0.054 on the 30th of this month. On the same date, a slight decline began to reach USD 0.048. The market capitalization is USD 1,310 million and its daily trading volume is USD 73 million.

This April 27, the Cardano project announced the creation of the first block in a beta version of the Shelley blockchain, a new main network that is in a trial period, according to its roadmap.

The mining of the block occurred in a private environment and will serve as a link for what will be its transition from the current development phase called Byron. In this way, the smart contracts platform went one step further before entering a hybrid phase that will culminate with the activation of the main network.

The price of the cryptocurrency, based on the popular Internet meme «doge», began to rise steadily in these seven days from April 25, going from USD 0.0020 to USD 0.0024 for this May 1. Growth was noticeable since April 26, peaking at $ 0.0027 on April 30.

The market capitalization is USD 301.4 million, with a daily volume of USD 83.6 million.

By means of a publication on Twitter, the company Bitpanda announced the closure of a survey for the choice of VIP coins. Best, as the voting process in which the community participated was called, resulted in a 30% vote support for DOGE. Consequently, the exchange office promises that it will soon add the cryptocurrency to its platform.

Its lowest value during the week was registered on April 26 (reaching USD 1,044), beginning to recover from April 27 to reach a peak of USD 1,356 on April 30. The following days saw several corrections, but the upward trend continued, especially after May 1. LSK’s market capitalization was $ 147.4 million this week, and its daily trade was $ 2.5 million.

According to information posted on Lisk’s corporate blog, the platform’s development team completed Alpha Lisk SDK 4.0.0 testing. In this regard, they point out that this means that the next beta net iteration incorporates the following improvements such as 500% increased scalability for regular transactions, a new dynamic rate system, a new and improved multiple signature solution, and a consensus algorithm update.

They add that the next step will be to implement the corresponding user interfaces for all the new features in Lisk Desktop.

The cryptocurrency registered small fluctuations, but a notable advance in the price is observed from April 29 and 30, when it was valued at USD 14.5. It then dropped back to $ 13.2 the same day. It started to rise again from this May 1st. The capitalization is USD 162.9 million, with a daily trade of USD 6 million.

SimpleSwap, a platform for cryptocurrency exchange announced to users the incorporation in the DCR trading platform and its exchange with more than 300 cryptocurrencies since April 22. Operations can be performed without registration, according to what is indicated in a tweet.

Check more about it on the last post https://blog.coinmarketcap.com/2020/05/01/our-seventh-year-anniversary/.

The rules are simple: join our telegram channel https://t.me/joinchat/AAAAAEs34ESDxcGKSBxpNA, use the link in the Twitter post that we have left you here, like the post, retweet it and let us know in the comments what you think the price of Bitcoin would be before halving or for the date of May 10. In the same comment tag 5 friends together with your telegram user, we will verify it.

Winner will be the person who can guess the price of Bitcoin on May 10. The person who shares it’s technical analysis within the twitter comment, will have a better chance of winning. We wish you all success.

We are making this not, because on the official post it was not very clear to everyone. Remembering that the winner will be chosen among those to complete in all the mentioned steps. The price will be $20 USD in Ethereum (ETH), which will be entered days after Bitcoin Halving.

See you in the next story! With love 💛 Rubika Ventures Team!




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