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A Brief Introduction About How to Buy Bitcoins As a Traded Currency These Days

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Being a popular form of currency, bitcoins are gaining a worldwide acclaim nowadays,as a result, many people have shown their interest in buying them. Although many financial heads are suggesting people not to indulge in this form of crypto-currency,due to its fluctuating value,yet it is being accepted at a fast pace. In order to purchase bitcoins, one can sign up with the wallet system for free by filling up all the online details or download a mobile application and start investing in them. Once the people have it simple banking payment method could be used to exchange them. However,since security is the prime factor it is necessary that these wallets remain safe and it is due to this reason one should be able to choose a bitcoin service such as the coin base wallets that are of high standards and easy to use.

Although an online wallet is a convenient method for buying bitcoins there are several other options such as selecting a bitcoin trader. It is also important to choose the right one as there are traitors and one should be careful about them. Whereas there are numerous established exchanges that offer the wallet services to the users while looking for a bitcoin wallet system the individual should opt for the one that has a multi-signature facility. The users can also use the bitcoin exchange search in the respective computers or mobile phones and by putting some general information such as typing one’s own country name the person can find out a wide range of available exchanges across the world as well as check out its current status. The users can also use the liquid money they have since there are various options available in the marketplace such as local bitcoin services that helps the users to exchange them with cash. Such areas allow the users to visit the nearest bank branch for depositing the cash amount and receive the bitcoins after sometime.

Many people believe that bitcoins represent a new era of digital currency and often get confused with them. However, since the bitcoin chain system is totally computerized it is quite simple and easy to buy and use them especially they are hell cheap when it comes to international transactions. Since exchanges demand a variety of payment processes such as credit or debit cards, the purchasers can also buy online by opening an account on the basis of the respective geographical location. Once the exchanges receive the payments after verification they would save the bitcoins on behalf of the individuals and submit them in the respective wallets. For this,they charge some fees. The entire process might be time-consuming. Many people who are learning how to buy bitcoins can also use the PayPal method for financial interactions.

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Polygon (Matic) Prices All set to Create New ATH, Prices Around $2 Level

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Polygon (Matic) Prices All set to Create New ATH, Prices Around $2 Level
  • Traders may attempt to exit long positions when Polygon is near $2.
  • A big closing over $1.87 would entice investors, alleviating selling pressure.

Polygon’s native token, MATIC, looks to be catching up with the market. By all indicators, prices may be on their way to a new all-time high. Likewise, the Polygon has broken past major resistance and is poised to hit new highs.

MATIC Price has risen over 22% in the previous four days, signaling positive momentum. Prices have climbed lately from $1.52 on October 23 to $1.86. The cryptocurrency is now trading at $1.8370, up 10.33% in the past 24 hours. $MATIC has a year-to-date ROI of +10337 percent.

For confirmation, measure the distance between the initial swing peak and the low swing peak, then multiply by $1.73 (breakout point) to arrive at a $4.32 target.

Before retesting the ATH at $2.70, Polygon will have to overcome two significant roadblocks at $2.04 and $2.22. If MATIC overcomes these challenges, it will reach $4.32. Traders may attempt to exit long positions when Polygon is near $2. Unfortunately, that might halt the upswing and prevent MATIC from breaking past that barrier and realizing its upside potential.

MATIC/USDT: Source: TradingView

The IOMAP graphic above shows the Bulls winning. At $2, just 1,280 addresses have acquired over 35.5 million MATIC. Polygon’s primary support level is $1.75.

With daily addresses increasing over the previous three months, the main spike is on its way. In addition, it seems that more cash and investors are entering the market, as the 7-day MA for active wallets has increased. To date, approximately 92 percent of all $MATIC addresses are profitable, according to ITB statistics.

The GIOM model predicts that Polygon has a single resistance at $1.87. Approximately 17.54 thousand crypto addresses bought 135 million tokens. A big closing over $1.87 would so entice investors, alleviating selling pressure. On the other hand, MATIC may so easily expand its surges. The alt will then skyrocket to $2.7 or more.

MATIC has risen by over 30% so far in October, and now, according to a Reddit debate, MATIC has handled 1 Billion transactions on the Polygon PoS chain.

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Helium (HNT), Cosmos (ATOM), Holo (HOT) -All Set to Create New ATH!

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Helium (HNT), Cosmos (ATOM), Holo (HOT) -All Set to Create New ATH!
  • HNT’s recent alliance with Dish Network has been a big impetus for price activity. 
  • ATOM might hit a new ATH of roughly $47.586.

After achieving fresh ATHs, Bitcoin and Ethereum seem to be out of breath. However, the market is buoyant as numerous cryptocurrencies post double-digit gains, and the star crypto gains support of approximately $60,000. Recent gains in Helium (HNT), Cosmos (ATOM), and Holo (HOT) are notable.

A crypto metric site named Santiment just published the growth of the above cryptocurrencies. The analytics tool shows a huge increase in market value for Helium, Cosmos, and Holo. Here are some price targets for these cryptocurrencies.

Helium (HNT)

Helium (HNT) is a blockchain-based platform for IoT utilities. On Tuesday, the primary altcoin nearly missed the $26.31 ATH. However, the HNT price has been consolidating around $24.15. The 4-hour chart continues to show a battle between buyers and sellers.

If enough buyers step in, the cryptocurrency might gain another 10% to 15% after regaining the prior ATH. On the other hand, if bears seize control of the market, HNT’s price might fall below $20.

HNT/USDT: Source: TradingView

However, the HNT’s recent alliance with Dish Network has been a big impetus for price activity. Traders may use compatible Helium 5g Hotspots on Dish Network to earn HNT tokens.

Cosmos (ATOM)

Cosmos (ATOM), a decentralized network that improves interoperability and scalability, has gained 10% in 24 hours. Trading volume increased by approximately 300 percent in hours. The price of ATOM has been steadily declining since reaching its previous ATH of $44.70. On the 4-hour chart, sellers outnumber purchasers.

1635364894 7 Helium HNT Cosmos ATOM Holo HOT All Set to Create
ATOM/USDT: Source: TradingView

Currently trading at $39.50, a sell-off may send ATOM down to $36.74 if it persists. The RSI value of 60.8 also implies a good consolidation period. If a large number of buyers come in during the next several hours, ATOM might hit a new ATH of roughly $47.586.

Holochain (HOT)

Holochain (HOT) is a peer-to-peer network that has recently gained considerable media attention. Huge green candles on the 4-hour chart indicate an enormous increase in investment. Recent ecosystem events have pushed the price back to September highs of $0.0125. Following large purchase orders a few hours earlier, the cryptocurrency is undergoing a little correction with hefty sell-offs.

1635364894 700 Helium HNT Cosmos ATOM Holo HOT All Set to Create
HOT/USDT: Source: TradingView

The price of Holochain (HOT) is projected to drop around $0.0095. The RSI element is green. Thus the HOT price might surpass the September high of $0.0135. As of early this week, Bitcoin dominance has declined, signaling capital leakage to rival cryptocurrencies. Moreover, the recent increase in these cryptocurrencies’ market cap confirms the start of Altseason.

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Greed Spikes To Seven-Month High Alongside Record Crypto Prices

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Crypto Greed

Data shows greed in the crypto market has spiked to seven-month highs as coins record new all-time highs (ATHs).

Crypto Fear And Greed Index Points At Extreme Greed

As per the latest weekly report from Arcane Research, the fear and greed index has recorded seven-month highs as the needle points at extreme greed.

The “fear and greed index” is an indicator that represents the general sentiment of the crypto market on a numeric scale that goes from 0 to 100.

When the metric has values below 50, it means there is, on average, fear among investors. Values lower than 25 denote extreme fear. Such a sentiment is usually seen after big corrections, and periods of extreme fear may prove to be good buying opportunities.

While the needle pointing above 50 means the crypto market is starting to get greedy. Extreme greed occurs when values exceed 75. Very high values near 100 may mean there will be a correction soon so investors may not buy more at this point.

Here is a meter that shows what the current market sentiment is:

The fear and greed index seems to be pointing at extreme greed at the moment | Source: The Arcane Research Weekly Update - Week 42

As the above meter shows, the crypto market looks to be extremely greedy right now as the value of the indicator stands at 76.

Related Reading | Bitcoin Funding Rates Touch Same Level As Early September, More Correction To Come?

Comparison with last week’s and last month’s values is also given below the meter, which were 75 (extreme greed) and 27 (fear), respectively.

The below chart gives a better idea about how the current fear and greed index values compare with those of the past:

Crypto Fear And Greed Index

The values of the indicator over the last one year | Source: The Arcane Research Weekly Update - Week 42

On examining the above graph, it becomes apparent that the fear and greed index reached values of 84 this week, the highest in the last seven months.

Related Reading | Breaking Down The Bitcoin Binance Flash Crash By The Second

This peak was made just a day after Bitcoin made its new ATH of around $67k, but shortly following that the price had a correction. The below chart shows this trend in BTC’s price:

Bitcoin crypto Price Chart

BTC's price continues to go down after making a new ATH | Source: BTCUSD on TradingView

The fear and greed index also took a hit in response to this decline in Bitcoin’s price, but nonetheless, values still remain in the extreme greed category, which means the crypto market still expects prices to go higher.

During the rally earlier in the year, values consistently remained in the extreme greed category, and corrections only caused temporary declines in the indicator.

This means that if the market has to continue making newer ATHs, the market sentiment should remain greedy, otherwise the bull run might start losing steam

Featured image from iStock.com, charts from TradingView.com, Arcane Research
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