Connect with us

Blockchain

Bitcoin Price Bottom To Take Place In Q4 This Year, Crypto Expert Predicts

Avatar Of Rajesh Khanna

Published

on

Bitcoin Price
google news

Bitcoin price sliding deeper into the pit can likely happen before this year ends.

Last week, the cryptocurrency market shed $165 billion of its total market capitalization with crypto frontrunner Bitcoin slumping into a bearish streak.

With this development, both traders and investors are now making conscious efforts to look ahead of the leading digital currency’s possible bottom.

Rekt Capital, a well-known crypto trading expert, shared some insights about what could be next for Bitcoin, saying that by the end of this year the asset might just reach another low point.

The expert has taken into account the recorded movement of the crypto’s price during a specific period right before the reward for mining its block is cut in half – a process known in this space as halving.

In conclusion, Rekt Capital said Bitcoin might bottom in the last quarter of this year, more than 500 days from its scheduled halving in April 2024.

Bitcoin’s Weakening Support Range

In his blog, the trading expert also discussed how the crypto alpha is showing weakness as far as its $20K support price range is concerned.

Rekt Capital noted that the observed rebound from this particular support price has been weak and this could turn out to be ugly for Bitcoin as it points to the $20K barrier becoming the new resistance range for the asset.

If this happens, the public could be looking at significantly lower support ranges, set at $17,165 and $13,900. The crypto aficionado, however, said a lot more could happen within this month. But if the trend continues, these theories could turn out to be realities that Bitcoin investors will have to deal with.

Where Is Bitcoin Price Headed?

If Bitcoin will indeed form a bottom by the end of this year, where will its price stand? Rekt Capital also shared his thoughts on the matter.

Using his Historical Death Cross Analysis, the expert was able to determine that since its price is moving into a new resistance, the leading digital currency might see its bottom between $16,985 and $23,467.

At press time, CoinGecko’s tracking data indicate the maiden cryptocurrency is trading at $19,403.89, losing 13.1% of its price in the last seven days.

Meanwhile, the asset’s price could slide further down to $11,500, falling well below the projected $13,900 monthly support if things start to get sideways.

As for the short term, Bitcoin is seen to slump all the way down to $16,700, but then that might not even happen.

BTC total market cap at $370 billion on the daily chart | Source: TradingView.com

Featured image from Al Bawaba, chart from TradingView.com

(The analysis represents the author's personal views and should not be construed as investment advice).

google news
Advertisement

Blockchain

How Metamask Gambling Is Decentralizing The Online Casino Industry

Avatar Of Rajesh Khanna

Published

on

How Metamask Gambling Is Decentralizing The Online Casino Industry
google news

Metamask gambling has been growing in popularity over the last couple of years. With the rise of the Web3 space and online crypto gambling, Metamask managed to fill in a gap that brings both sectors closer to one another.

Crypto casinos are taking more to integrate the Metamask wallets on their websites for gambling activities. Using a decentralized Web3 wallet like this ensures that users of these gambling platforms are able to enjoy features that are not available on more conventional online casinos.

Why Metamask Gambling Is Better

One drawback of conventional casinos is the arduous sign-up processes that are usually associated with them. However, casinos had started to move towards accepting crypto deposits and withdrawals, which, over time, had required less stringent sign-up processes. But even this was not a seamless process. This is where Metamask gambling enters the picture.

Metamask is a Web3 wallet that allows users to interact directly with cryptocurrency networks. It had started out on the Ethereum blockchain but had since expanded to include other blockchains such as BSC, Avalanche, etc. It comes in the form of a browser extension and mobile application from which users can directly connect to Web3 websites. It is also an easy-to-use hot wallet where users can receive coins by simply copying their addresses to forward to the sender.

Given this, Metamask has found a natural home in the online gambling industry. Gambling websites are able to integrate the Metamask wallets directly on their platforms, making it possible for users to register or log into the website using the wallet, as well as processing faster deposits and withdrawals.

Best Metamask Casinos

Metamask gambling casinos have been known to provide some or all of the integrations mentioned above. In some cases, some casinos will offer the option to deposit with Metamask only or the option to use the hot wallet as a means of authorization. So, here are the top 3 Metamask gambling casinos that you should look at.

Bitcasino

Bitcasino is arguably one of the best Metamask gambling casinos in existence. It offers full functionality with Metamask, making it a one-stop shop for all things Metamask gambling. Users can register and log into the platform using their Metamask wallets. Bitcasino also takes this one step further by offering deposits and withdrawals using Metamask. Users can also use other tokens on the wallet, such as USDT, on the Bitcasino website.

Players should, however, note that there are some things not offered by Bitcasino in this regard, such as a welcome bonus for ETH players. Users may also be required to complete a KYC verification when the casino requires it.

Nevertheless, Bitcasino offers beloved slot games, as well as a wide variety of live casino games. The betting platform is also one of the few crypto casinos that offer betting on eSports. However, users cannot place crypto bets on games such as Crash or Dice.

BC.GAME

BC.Game has been pretty much the only Metamask gambling platform that supports the BSC network. This casino allows the direct integration of Metamask but for deposits. Users can also use the wallet to carry out authorizations on the platform. And unlike Bitcasino, BC.Game supports a much wider array of tokens, including ETH and MATIC.

While it does have a welcome bonus, there is no stable welcome bonus on the platform. Also, similar to Bitcasino, BC.Game can also require users to go through KYC verifications. However, users get one free spin daily with a prize of up to 1 BTC.

Sportsbet.io

The third on the list is Sportsbet.io. It is a Metamask gambling platform that allows a minimum deposit of 10 USDT and offers a stable welcome bonus, unlike the others. Users can get up to 2000 wager-free spins that are worth 200 USDT.

Furthermore, users can use their Metamask wallets to authorize their accounts, as well as make deposits and withdrawals. It also accepts other tokens available on the hot wallet, such as ETH and SOC.

Like the others, Sportsbet.io comes with its own disadvantages, such as KYC verification and the fact that there are no provably fair crypto games. However, the betting platform is extremely popular and is currently the principal sponsor of the English Premier League football club Watford FC.

Conclusion

Metaverse gambling platforms are still very new, but they have already proven their value to the online crypto gaming space. As more platforms innovate toward integrating Metamask gambling, these advantages are bound to become more apparent to the gambling community. But for now, the platforms offering Metamask gambling are a small pool and only support a handful of tokens at this time.

 
Image by Alexa from Pixabay

google news
Continue Reading

Blockchain

CFTC Announces Settled Charges Against bZeroX Protocol

Avatar Of Rajesh Khanna

Published

on

Cftc Announces Settled Charges Against Bzerox Protocol
google news
  • In an unprecedented move, the CFTC also sued a related DAO.
  • The Ooki DAO is accused by the CFTC of violating the regulations.

Authorities are still cracking down on crypto. On Thursday, the CFTC announced settled charges against the creators of bZeroX, the business behind the bZx protocol. Tom Bean and Kyle Kistner, founders of bZx, were each fined $250,000 by the Commodities Futures Trading Commission (CFTC). For “illegally offering leveraged and margined retail commodity transactions in digital assets.” And failing to implement Know Your Customer (KYC) regulations.

Penalties on the DAO

However, in an unprecedented move, the CFTC also sued a related DAO. Allegedly formed by Bean and Kistner to decentralize management of the bZx protocol, the Ooki DAO is accused by the CFTC of violating the same regulations. While Bean and Kistner settled charges against themselves and bZeroX without admitting or denying wrongdoing, the CFTC is still looking to impose penalties on the DAO, including disgorgement, fines, and perhaps trading and registration restrictions.

The Commission stated in a press release:

“The order finds the DAO was an unincorporated association of which Bean and Kistner were actively participating members and liable for the Ooki DAO’s violations of the [Commodity Exchange Act] and CFTC regulations.”

A decentralized autonomous organization (DAO) is a kind of organization in which power is shared rather than centralized. Distributed autonomous organizations (DAOs) are decentralized organizations that employ smart contracts on a blockchain and allow users to vote on proposals using governance tokens.

Because they owned Ooki tokens and voted on governance proposals pertaining to how the DAO functioned, the CFTC took the unprecedented step of holding Bean and Kistner responsible for the DAO’s alleged unlawful actions.

Recommended For You:

Ripple CEO Met With CFTC Commissioner, as SEC Case Nears

google news
Continue Reading

Blockchain

Canada-based Coinsquare Acquires CoinSmart Exchange

Avatar Of Rajesh Khanna

Published

on

Canada-Based Coinsquare Acquires Coinsmart Exchange
google news
  • Only two Canadian crypto exchanges, including Coinsquare, have pre-registered with authorities.
  • Justin Hartzman co-founded CoinSmart and has served as its CEO.

After Coinsquare, one of the major digital asset trading platforms in Canada, purchased CoinSmart for an unknown price, the country’s cryptocurrency exchange scene seemed to be solidifying.

Thursday, Coinsquare stated that it has signed a formal deal to acquire 100% of the issued and existing shares of Simply Digital, a fully owned subsidiary of CoinSmart. Moreover, CoinSmart’s NEO Exchange-traded stock price rose by 67% on Friday, perhaps in reaction to the announcement.

As a result of the purchase, Coinsquare is now better able to serve its customers. And compete with other cryptocurrency exchanges in Canada. Coinsquare, which launched in 2014, now provides institutional and retail trading, crypto payment processing, and digital asset custody, among other services.

In 2018, Justin Hartzman co-founded CoinSmart and has served as its CEO since the company’s inception. Hartzman is expected to become a member of Coinsquare’s executive team if the transaction is finalized.

Rise in Crypto Adoption

CoinSmart’s financials are made public on a quarterly basis, as befits a publicly listed firm. According to the company’s annual report published on April 1. Gross sales for 2021 were $16.7 million, an increase of 357% over the previous year. 

Only two Canadian crypto exchanges, including Coinsquare, have pre-registered with their primary authorities. Moreover, in an effort to comply fully with securities regulations. The Canadian Securities Administrators (CSA) set the pre-registration standards to enable cryptocurrency exchanges to continue operating. While their complete applications with CSA are assessed.

The adoption of cryptocurrencies in Canada is on the increase. But like in other nations, it is mostly determined by underlying market circumstances. KPMG found that institutional investors are warming up to crypto as a result of its perceived benefits and new possibilities.

Recommended For You:

New Restrictions Cap Yearly Crypto Purchases in Canada

google news
Continue Reading

Blockchain

Post ETH Merge Vitalik Buterin Wants Others To Follow Suit

Avatar Of Rajesh Khanna

Published

on

Scammers Impersonating Vitalik Buterin On Rise Following Merge
google news