Cryptocurrencies

Shiba #

#BullRun
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Technical analysis on Bitcoin for October 30th, 2023.

Blue lines- Fibonacci retracement levels
Red line- support trend line
Yellow lines- expected path
green rectangles- overbought spikes in the RSI
Bitcoin is trading around $34,680 just below the 38% Fibonacci retracement of the entire decline from its all time highs. Bitcoin has started making higher highs and higher lows over the last nine months. The RSI is approaching similar overbought levels to the bullish wave that occurred back in January. A pull back followed that provided us with a lower high and another leg higher followed to new higher highs. If the pattern repeats itself, Bitcoin could make a pull back towards $30,000-$31,000 and the red support trend line. A new higher low should form there around these levels and a new wave to the upside should follow. Concluding it is important for bulls to defend the red upward sloping trend line. As long as we trade above it, bulls have the upper hand. In the near term a pull back is justified as the RSI has reached deep inside the overbought area.
#BTC🔥🔥 #BitcoinShowdown #COVID19 #CryptoBears

PEPE Outpaces SHIB, DOGE as 6.9T PEPE Burn Tests Dominance
PEPE sprints ahead of SHIB and DOGE.

Top memecoins catch the BlackRock BTC ETF-infused rally.
PEPE developers burn $6,000,000 PEPE on Ethereum PoS.
Memecoin frenzy escalates with SHIB, DOGE, and FLOKI soaring.
The groundbreaking news of BlackRock’s ETF getting a unique identification number for NASDAQ listing has sparked a tremendous bull run for Bitcoin and other cryptocurrency assets.
Pepe (PEPE), an otherwise fading frog-themed memecoin, which dropped out of the TOP 100 by global market capitalization in recent months, stormed back with 32.6% gains in the last 24 hours.
As Bitcoin topped the yearly high of $35,000 at 5 AM on Tuesday, all popular memecoins tagged along with the bullish wave. DogeCoin (DOGE) exhibited a dual bullish divergence on the daily charts: reaching $0.069, facing market correction to $0.065, and then hopping back on the bullish trend.

#Meme #etf #pepe #DOGE #SHIB

What is cryptocurrency and how does it work?

Cryptocurrency – meaning and definition
Cryptocurrency, sometimes called crypto-currency or crypto, is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don't have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units.

What is cryptocurrency?
Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database describing specific transactions. When you transfer cryptocurrency funds, the transactions are recorded in a public ledger. Cryptocurrency is stored in digital wallets.

Cryptocurrency received its name because it uses encryption to verify transactions. This means advanced coding is involved in storing and transmitting cryptocurrency data between wallets and to public ledgers. The aim of encryption is to provide security and safety.

The first cryptocurrency was Bitcoin, which was founded in 2009 and remains the best known today. Much of the interest in cryptocurrencies is to trade for profit, with speculators at times driving prices skyward.

How does cryptocurrency work?
Cryptocurrencies run on a distributed public ledger called blockchain, a record of all transactions updated and held by currency holders.

Units of cryptocurrency are created through a process called mining, which involves using computer power to solve complicated mathematical problems that generate coins. Users can also buy the currencies from brokers, then store and spend them using cryptographic wallets.

If you own cryptocurrency, you don’t own anything tangible. What you own is a key that allows you to move a record or a unit of measure from one person to another without a trusted third party.

#betcoin #hold #token

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