Crypto News October 18: Bitcoin is likely to see a retreat with news from Ripple, Cardano, Polkadot, Dogecoin, Huobi, Mclouds
Assuming there is likely to be a bitcoin pullback, Huobi Global will participate in the Polkadot Parachain slot auction. Here are some highlights from the crypto market.
Veteran trader Tone Vays said that despite Bitcoin’s rapid spike on the daily and weekly charts, a retreat is imminent.
In a meeting Live broadcast Recently, Vays announced rumors of Bitcoin ETF approval and predicts that BTC will hit a high of around $ 62,000 on October 19th.
As for the potential for a market pullback, Vays said it depends on Bitcoin meeting certain goals, noting that it has risen nearly 50% in the past few weeks.
Vays said that with a surge this fast, the market was more likely to decline. He also forecast that BTC price will fall to the region of $ 53,000, or $ 54,000, but remains optimistic that the market will hit $ 100,000 by the end of the year.
Ripple and Cardano news
XRP and the Cardano (ADA) smart contract platform are arguably the most popular crypto assets for UK retailers.
Citing data from the trading platform eToro, Finance Magnates called In the third quarter of 2021, retail investors in the UK voted XRP over all other digital assets, allowing the altcoin to maintain its position as the country’s most popular cryptocurrency.
The number of eToro users who own XRP is up 4% in the second quarter and 105% year over year as the coin has grown steadily since July.
EToro’s crypto market analyst Simon Peters told Finance Magnates that XRP has a strong community of supporters who believe in its long-term potential.
The XRP price has tripled since the SEC sued Ripple.
Galaxy Digital CEO Mike Novogratz recently reported in a tweet about the performance of the XRP cryptocurrency, noting that its price has tripled since it was regulated and the United States (SEC) has filed a lawsuit against Ripple.
Novogratz, who has criticized XRP in the past, thinks this is a positive sign of how the crypto community can recover.
– Mike Novogratz (@novogratz) October 17, 2021
After Binance, the Huobi exchange has too notification support the development of the Polkadot ecosystem.
Accordingly, Huobi Global will be participating in the Polkadot Parachain Slot Auction next month. Details will be announced by the exchange soon.
The ninth largest cryptocurrency, DOGE, is up more than 12% in the past 24 hours, trading at $ 0.2676 before falling slightly to the $ 0.2565 region.
Elon Musk today supported the tweet from Billy Markus, the co-founder of Dogecoin, who made fun of all DOGE haters.
The billionaire also posted a tweet with a “drawing” of what the community thinks is a Shiba Inu dog on the way to the moon.
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– Elon Musk (@elonmusk) October 17, 2021
According to some indicators, 70% of Doge owners are still profitable. Previously, when Dogecoin was trading near the previous ATH threshold, that number hit 90%.
Whenever the number of profitable tokens approaches the 90% mark, there is a correction in the market as the majority of traders get closer to their winnings, starting a chain of liquidations and rapidly dropping prices.
While all of the on-chain indicators show a “bearish” market, the psychosocial indicators also show that the DOGE token is currently ahead of Bitcoin and Ethereum in terms of numbers.
DOGE ad on the chain | Source: IntoTheBlock
Elon Musk has always supported DOGE.
Tesla boss Elon Musk appears to have taken sides in the recent debate between billionaire Mark Cuban and a group of Bitcoiners.
The businessman left a tearful emoji comment for a tweet praising the “Shark Tank” host for defending Dogecoin against “Bitcoin maximalists”.
– Elon Musk (@elonmusk) October 17, 2021
During a conversation with podcaster Preston Pysh, Cubans were asked to stop talking about the Dogecoin cryptocurrency meme, but he later flatly denied the matter.
Huobi Global, one of the world’s leading digital asset exchanges, notification that they burned 3 million Huobi tokens (HT) worth approximately $ 38.88 million in September. From January to September this year, Huobi Global HT burned approximately $ 582 million worth of it.
According to HT’s latest monthly activity report, the average price of HT burned was around $ 12.94 and the deflation rate hit 1.29% in September. As of October 15, 2021, there are a total of 216.61 million HTs, of which 171.77 million are floating on the network.
Today, October 18, Mars Cloud Mine, part of giant Mclouds, announced that it will withdraw its mining assets and services from mainland China this year.
As one of the largest storage platforms, Mclouds offers storage for Bitcoin, Ethereum and Filecoin miners. The move is believed to be related to the recent ban on cryptocurrency mining and trading activities in the country.
The miner hosting platform Mclouds will shut down all mining services in mainland China through December 31st. As one of the largest miner hosting platforms, Mclouds #Bitcoin , #Ether and #Filecoin Hosting service for miners.https://t.co/biEGHBkDx2
– 8BTCnews (@btcinchina) October 18, 2021
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