April 2023

LayerZero, a rising star in the cryptocurrency world, has attracted high-profile investors and raised $120 million in Series B funding. Its groundbreaking omnichain interoperability protocol is revolutionizing inter-blockchain communication, making it simpler and more efficient. In this exclusive Alpha article, we delve into the details of LayerZero, its advantages, challenges, and the buzz surrounding possible airdrops. Discover how you can increase your chances of receiving these coveted tokens and uncover the reason behind LayerZero's success in a lackluster market...

The post LayerZero: Why the hype and how to get involved appeared first on CryptoSlate.

According to analysts who spoke to Bloomberg, bitcoin price rally could be starting. The coin was trading at $29,000 on Sunday, a few points below the important resistance point at $30,000 and slightly lower than the year-to-date high of $31,000.  Bitcoin price path to $100k and above Last week, I wrote that a Standard Chartered […]

The post Astounding $185,000 Bitcoin price prediction could move Stellar, Cardano, BNB, ETH appeared first on Invezz.

Bitcoin’s dip below $30,000 and subsequent retest of resistance above$29k highlights the past week’s top coins outlook. Shiba Inu (SHIB) price is below its 50 and 200 MA but analysts are bullish on SHIB given overall sentiment and network growth. Aptos (APT) price has formed a massive bull flag pattern that could see APT explode […]

The post Shiba Inu (SHIB) and Aptos (APT) price outlook as Bitcoin (BTC) tests resistance near $30k appeared first on CoinJournal.

Litecoin price traded above $90 on Sunday, with LTC hitting intraday highs of $91.60. While price has rejected twice above $100, the area remains a key target for bulls as Bitcoin retests the $30k level. If it breaks above the hurdle, fresh momentum heading into the Litecoin halving in August could catapult LTC price towards […]

The post Litecoin price prediction: can bulls pick up new momentum for LTC? appeared first on CoinJournal.

Bitcoin price approached the key resistance level at $30,000 as the First Republic Bank (FRC) concerns continued. The BTC/USD pair surged to 29,800, which was higher than last week’s low of 27,000. This rally has led to more upside for some other cryptocurrencies, including Tectonic (TONIC), Nest Protocol, Jasmy, and Suku. Nest Protocol price prediction […]

The post Crypto price predictions: Nest Protocol, Jasmy, Suku appeared first on Invezz.

Casper Network price rose over 60% in April, hitting a high of $0.060. CSPR traded at around $0.059 at the time of writing, about 6% up in the past 24 hours. While CSPR price is above key support level, here’s the price outlook for Casper Network going into May. Casper Network price rose more than […]

The post Casper price prediction: what next for CSPR after 60% rally in April? appeared first on CoinJournal.

If Bitcoin price breaks above $30,000, several altcoins such as SOL, ATOM, ICP and HBAR are well-positioned for a rally of their own.

Risky assets marginally extend their up-move in April. The S&P 500 Index rose around 1.5% in April while Bitcoin (BTC) is on track to end the month with gains of more than 4%. Could the rally continue in May or is it time for a pullback?

The recovery could face headwinds if the United States banking woes escalate further. JPMorgan Asset Management chief investment officer Bob Michele said in an interview with Bloomberg that the turmoil at First Republic Bank is unlikely to be limited to the bank only, and could cause a domino effect.

If that happens, then the U.S. equity markets may witness a correction. However, it is difficult to predict how Bitcoin will react to such a crisis because, in the past few days, BTC 65trose while legacy banking troubles deepened. But in case of a major upheaval in the U.S. banking sector, it is possible that Bitcoin will also face a correction sooner or later.

In the near term, Bitcoin and select altcoins are showing strength. Let’s study the charts of five cryptocurrencies that may outperform over the next few days.

Bitcoin price analysis

After two days of low volatile trading in Bitcoin, the bulls are trying to assert their supremacy on April 30.

The 20-day exponential moving average ($28,783) has started to turn up gradually, and the relative strength index (RSI) is in the positive zone, indicating that the path of least resistance is to the upside.

If bulls kick Bitcoin’s price above $30,000, the BTC/USDT pair may climb to the overhead resistance zone of $31,000 to $32,400. Buyers may face formidable resistance at this zone, but if it is crossed, the pair can soar toward $40,000.

The 50-day simple moving average ($28,026) is the important support to keep an eye on. If BTC price collapses below this level, the bears will sense an opportunity and try to sink the pair to $25,250.

The bears tried to yank the pair below the 20-EMA but the bulls held their ground. This may have attracted further buying and the bulls will next try to drive the price above $30,000. If they succeed, Bitcoin can rise to $30,500, or even $31,000.

Conversely, if the price turns down and breaks below the 20-EMA, it will suggest that bears are selling near overhead resistance levels. The pair may then slip to the 50-SMA.

The bulls will try to protect this level but if bears overpower them, the next stop is likely to be $27,000. Buyers are likely to defend the zone between $27,000 and $25,250 with all their might.

Solana price analysis

The bulls did not allow Solana (SOL) to break back below the downtrend line during the most recent leg of the correction, indicating demand at lower levels.

Buyers will next try to propel the price to the overhead resistance at $27.12. This remains the key resistance to watch for in the near term because if bulls catapult the price above it, the SOL/USDT pair may accelerate toward $39.

This bullish view could invalidate in the near term if the price turns down and breaks below the moving averages. The pair could then plummet to the crucial support at $18.70. If the price rebounds off this level, it will signal that the pair may oscillate inside the large range between $18.70 and $27.12 for some time.

The moving averages on the four-hour chart have started to turn up and the RSI is in the positive territory, indicating that buyers are in control. The bears are trying to stall the recovery at $24 but if bulls overcome this barrier, the pair may pick up momentum and rally toward $25.50.

If the bears want to prevent the rally, they will have to quickly tug the price back below the 20-EMA. The 50-SMA will be the support level to watch here if price begins to slide.

Cosmos price analysis

The long tail on Cosmos’ (ATOM) April 26 candlestick shows that the bulls are fiercely defending the support at $10.20.

Buyers have pushed the price above the moving averages and will try to reach the downtrend line. This is an important level to keep an eye on because a break and close above it will open the doors for a potential rally to $13.50 and then to $15.50.

On the other hand, if the ATOM/USDT pair reverses direction from the downtrend line, it will suggest that bears are trying to form a descending triangle pattern. A decline below the moving averages will open the doors for a possible retest of $10.20.

The 20-EMA on the four-hour chart has turned up, and the RSI is near the overbought zone, indicating that bulls are in control. There is a minor hurdle at $12.13, but that is likely to be crossed. ATOM price may then rise to test the downtrend line.

Instead, if the price turns down from $12.13, the bears will again try to sink the pair below the 20-EMA. If they manage to do that, it will suggest that the buyers may be losing their grip. The pair then risks a slide to the 50-SMA.

Related: ‘Good luck bears’ — Bitcoin traders closely watch April close with BTC price at $29K

Internet Computer price analysis

Internet Computer (ICP) slipped below the 50-day SMA ($5.38) on April 26 but that proved to be a bear trap. The price turned up on April 27 and started a strong recovery.

The 20-day EMA ($5.74) has started to turn up and the RSI has jumped into positive territory, indicating that bulls have a slight edge. If the price does not give up much ground from the current level or rebounds off the 20-day EMA, it will suggest that the bulls are buying the dips.

That will enhance the prospects of a rally to the downtrend line where the bears will again mount a strong defense. On the downside, a break below the 50-day SMA will tilt the advantage in favor of the bears.

The four-hour chart shows that the ICP/USDT pair is in a corrective phase. The first support is at the 20-EMA, which is close to the 38.2% Fibonacci retracement level of $6.14. If the price bounces off this support, the pair may rally to $7.23 and eventually to $7.70.

Contrary to this assumption, if the price continues lower and breaks below the 20-EMA, it will suggest that the short-term bulls may be booking profits. That could pull the price to the 50-SMA, which is near the 61.8% retracement level of $5.72.

Hedera price analysis

The bears repeatedly tried to sink Hedera (HBAR) below $0.06 but the bulls held their ground. The failure to break the support attracted buyers who will try to push the price above the downtrend line.

The 20-day EMA ($0.06) is flattening out and the RSI has climbed above the midpoint, indicating that the selling pressure is reducing. If buyers thrust the price above the resistance line, the bullish momentum may pick up and the HBAR/USDT pair could rally to the overhead resistance at $0.08.

Contrarily, if the price turns down from the current level or the resistance line, it will suggest that the bears remain active at higher levels. That increases the possibility of a break below $0.06.

The four-hour chart shows that the bulls flipped the moving averages into support and have launched an up-move that is likely to reach the resistance line. This level is expected to act as a strong resistance but on the way down, if the pair rebounds off the 20-EMA, it will suggest a change in sentiment from selling on rallies to buying on dips.

The pair may then break above the resistance line and start its journey to $0.07 and subsequently to $0.08. If the bears want to gain the upper hand, they will have to quickly pull HBAR price below the moving averages.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

（Mar.2023）

（2023年3月）

New Mexico is the cheapest U.S. state to mine Bitcoin in terms of average electricity cost, while Hawaii is the most expensive.

It now costs Bitcoin (BTC) miners at least $17,000 to produce one BTC in the United States versus the $5,000–10,000 range a year ago, according to Bitcoin mining data resources Hashrate Index and Luxor.

Bitcoin hash price has dropped 58% in a year

Unsurprisingly, soaring electricity rates across U.S. states have contributed to rising Bitcoin mining costs.

Notably, between January 2022 and January 2023, the commercial electricity tariff surged at an average of 10.71% per U.S. state, higher than the average Consumer Price Index surge of 6.4%.

Coupled with Bitcoin’s downward performance in 2022, which saw a maximum drawdown from around $48,000 to below $15,000, it is evident that active miners generated consistent losses due to the increase in operational costs and lower returns.

But this changed in Q1 of 2023 as the miners’ hash price, or the U.S. dollar price per terahash per second per day (TH/s/d), rose 31% thanks to Bitcoin’s price recovery toward $30,000.

“Bleak as the new year looked at the outset, the lowest day for hashprice on a USD basis in Q1 was January 1,” noted researchers at Hashrate Index, adding:

“It was only up from there as a 70% rise resuscitated Bitcoin’s price over the quarter, and along with it, hashprice.“

Which state is cheapest, most expensive to mine Bitcoin in? 

New Mexico emerged as the cheapest and, in turn, more profitable state for Bitcoin miners in Q1 at $16,850 to mint one BTC. On the other hand, Hawaii was the most expensive at around $114,590.

Regionally, the south and the midwestern U.S. states are the most attractive for miners regarding electricity prices.

More recently, some U.S. states, including Arkansas, Montana, Missouri, Mississippi and others, have taken concrete steps to protect crypto miners from excessive taxes and regulations. On the other hand, Texas has amended its utilities and tax codes, bolstering restrictions for crypto mining companies.

Energy deflation could boost miners’ profitability 

Furthermore, the researchers anticipate the Bitcoin mining margins to grow further based on the U.S. Energy Information Association’s (EIA) expectations of energy price deflation.

Related: Bitcoin advocates rally at Texas State Capitol to oppose bill cutting mining incentives

For instance, the agency expects the demand for electricity to drop by 1% in Q2, citing additional generation from renewable sources and cheaper natural gas prices. It further anticipates that natural gas prices will remain below $3 in 2023 vs. 2022’s $6.45 average.

Bitcoin mining stocks shine

Lower operational costs could help otherwise cash-strapped Bitcoin mining companies survive in 2023. For example, the stock price of Core Scientific, an already bankrupt Bitcoin mining firm, has jumped over 450% year-to-date.

Similarly, the HI Crypto Mining Stock Index has soared more than 100% this year, showing a return of investor appetite for mining socks.

Hashrate Index researchers also stated:

“If the bitcoin price was to increase by an additional 40% to reach $42k this year, most mining stocks would rise by more than 50% from today’s level, while the four-to-five biggest gainers would soar by more than 150%.“

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.