What are the financial implications of bitcoin’s value dropping below $20,000

What are the financial implications of bitcoin’s value dropping below $20,000

Addition comments:

Bitcoin has been closely correlated to the movements of U.S. stock markets. If you noted the timing, U.S. stocks markets fell and futures are still struggling on Tuesday. This is accompanied by high inflation and lots of talks on the ground of a recession in U.S. very soon.

With the above narrative and statistics, it means that bitcoin will continue to dip. The market is also experiencing a domino effect with the bigger players going into a liquidation mode and with high possibilities of more big boys going down that same route as bitcoin continues to dip.

No one can predict the price of bitcoin. When the price of bitcoin goes below $20,000, this also means that if you buy now, you will be buying at a lower price than most institutions such as Microstrategy.

What are the financial implications of bitcoin’s value dropping below $20,000

On June 13, bitcoin’s value fell below $25,000 while on June 29, bitcoin ranged just below the $20,000 mark

On June 29, the value of bitcoin briefly dropped below the $20,000 mark. For a second time in the same month, investors witnessed a decline in bitcoin’s value when on June 13, bitcoin’s value fell below $25,000. As a result, investors were again left exposed to volatile market conditions. “The sudden dip in bitcoin should be held responsible for inflation around the globe. While the cryptocurrency market is based off of the global market, there haven’t been any notable events apart from general market variables which have pushed the prices down,” Sathvik Vishwanath, co-founder and CEO, Unocoin, a cryptocurrency exchange.

Industry experts opined that the Russia-Ukraine war and inflation hitting a fresh 40-year high are some of the reasons why bitcoin’s price is slumping in cryptocurrency markets. “The value of bitcoin is struggling to maintain the $20,000 level. While bitcoin was considered immune to fluctuations with regard to risk oriented assets, it is no longer the case. The overall cryptocurrency market is influenced by factors such as inflation, changes in stock market prices, and the Federal monetary policy,” Raj Kapoor, chief advisor, Acryptoverse, a cryptocurrency advisory firm, told FE Digital Currency.

As stated by Sharat Chandra, vice president of research and strategy, EarthID, a decentralised identity management platform, the quantitative tightening, which refers to the monetary policy applied by central banks to decrease money supply in economies, is having an effect on bitcoin’s value.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j

MATIC price prediction: Will going green boost Polygon value?

MATIC price prediction: Will going green boost Polygon value?

On 12 April 2022, Polygon (MATIC) made headlines with the  release of  its “Green Manifesto”, pledging to make its blockchain universe more environmentally friendly.

Polygon’s future plans might seem bright, but its native cryptocurrency, MATIC, has been on a bearish trend since the start of 2022.

After reaching its all-time high on 26 December 2021 at $2.8768 the token has been on a downward trend, losing 50.9% of its value and dropping to $1.41 by 19 April 2022.

Amid plans to go green, can the token surpass its all time high, and what’s in stock for the Polygon crypto price prediction?

What is Polygon crypto?

In the last couple of years, ether (ETH) has become one of the most popular cryptocurrency tokens. It’s the second biggest cryptocurrency by market capitalisation and the leader in decentralised finance (DeFi) (as of 19 April) due to its compatibility with smart contracts, which make building decentralised applications (dApps) easy.

However, ETH’s growing popularity has also made the blockchain very hard to use amid rising gas fees and excessive traffic. That, in addition to low throughput and no sovereignty has pushed for the creation of Polygon.

Polygon, previously known as Matic Network, is the first easy-to-use platform for Ethereum scaling and infrastructure development. Founded by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic in 2017, it wants to make Ethereum a “full-fledged multi-chain system”.

Using the slogan “built by developers, for developers”, Polygon has managed to combine all existing Ethereum tools with faster and cheaper transactions.

Polygon’s key features include:

  • Fast, cheap and safe transactions on Polygon sidechains that are finalised on the Ethereum mainchain
  • High throughput and multi-chain transactions
  • Smooth user experience
  • Public sidechains that support a number of protocols

So far, Polygon has released three scaling solutions:

  • Polygon PoS – a Layer 2 scaling solution that achieves great transaction speed and cost savings
  • Polygon Hermez – a Layer 2 construction on top of Ethereum that solves its scalability issues
  • Polygon Edge – allows users to run their own blockchain network with customisable features

Three others are in development:

  • Polygon Avail – targets off-chain scaling solutions and standalone chains
  • Polygon Miden – a Layer 2 scaling solution for Ethereum and relies on zero-knowledge technology to merge thousands of Layer 2 transactions into one single ETH transaction, increasing throughput and decreasing transaction fees
  • Polygon Zero – a Layer 2 scaling solution for Ethereum that separates Polygon Zero from other zero-knowledge scaling solutions

Polygon Nightfall, a unique privacy-focused scalable transaction solution, is currently undergoing a testnet. The Enterprise chain is planned.

Since launching, Polygon has allowed users to develop over 10,000 dApps, attracted over 130 million unique users, experienced over 3 million daily transactions and hosted over 3.4 billion transactions.

Polygon’s native cryptocurrency is known as MATIC, an ERC-20 token running on the Ethereum network. The MATIC crypto is used to pay fees on the Polygon network, and for stacking and governance.

A maximum of 10bn MATIC tokens were released. Over 7.8bn tokens are currently in circulation, according to data provided by CoinMarketCap, as of 19 April. MATIC currently has a market capitalisation of over $11bn and is ranked as the 18th most popular token.

Will MATIC go up or down? Technical outlook

The MATIC token launched two years after Polygon was founded through an initial exchange offering (IEO) on the Binance crypto exchange platform.
Since its launch in 2019, the token struggled to speed up, moving sideways and fluctuating between $0.01 and $0.03 for the next two years.

The Polygon cryptocurrency started to gain traction in early February 2021, soaring to new price levels by May that same year. In four weeks between 22 April 2021 and 18 May 2021, the Polygon coin price surged by 602.4%, up from $0.3494 to a then record high of $2.4544.

Polygon to USD chart, 2019 - 2022

Despite its momentary success, the coin dropped to $1.0867 but managed to rebound to $2.2102 by 26 May 2021.

Following May’s highs, the Polygon coin’s price has struggled through a volatile ride. it hit a new record-high of $2.8768 on 26 December 2021, following news that the number one Ethereum App, Uniswap, had launched on Polygon.

Since then, however, the token has been on a bearish trend, with its price losing over half of its value from the record high, dropping to the $1.4222 level, as of 19 April 2022. Between 15 February 2022 and 15 March 2022, the coin lost 25.9% of its value amid general negative market sentiment as tensions started to rise on the Russia-Ukraine border.

Polygon to USD chart, January - April 2022

What is your sentiment on MATIC/USD?

MATIC token technical analysis provided by CoinCodex showed that short-term sentiment for the coin was neutral at the time of writing (19 April), with 14 indicators pointing to ‘sell’ and 13 to ‘buy’.

relative strength index (RSI) of 35 was neutral, yet close to an oversold territory. A reading of 30 or below would indicate that the asset is becoming undervalued and a trend reversal is likely to occur. The token is trading above its five-and 10-day moving averages, yet close to its R1 resistance level of $1.47.

Is Polygon a good investment?

Some of the biggest Polygon (MATIC) news came as the platform announced that it would be going carbon-negative in 2022, revealing its “Green Manifesto” – a $20m pledge to tackle climate change.
The crypto industry has been heavily criticised for its high electricity consumption by climate change activist groups, including Greenpeace.
By joining the green movement, Polygon is not only aiding the battle against climate change, but has the potential to catch the attention of investors who value the environment, thus building the case for a bullish Polygon MATIC price prediction.

In addition, MATIC was recently listed on Robinhood, the leading retail investment and trading platform. According to Anndy Lian, the BigONE Exchange chair in Asia, that could be an endorsement for the MATIC token.

“With the Robinhood app adding Polygon to their crypto offerings, my guess is that they are also bullish on the token. In addition, the world’s most popular NFT Marketplace, OpenSea, has some of its functions run through Polygon,” Lian told Capital.com.

The expert added that Polygon’s low fees and fast speed are the two key points that are pushing more projects to mitigate the platform.

“On top of this, MATIC made good moves to deep dive into the NFT and gaming sectors. This allows them to scale and gain popularity a lot faster than their peers,” Lian said.

According to Lian, apart from the low fees and fast scalability, the platform is also easy to use and their community and developers are very supportive.

“They are building up their ecosystem by empowering projects to build dApps easily on top of their infrastructure. Their roadmap since 2017 is very clear and this has given them a lot of followers, especially in the South Asia region,” he said.

“Overall, MATIC is an exciting blockchain in the market. The demand of the token will continue to grow as long as ETH 2.0 is still not out.”

MATIC price prediction 2022 – 2025, 2030

Despite recent bearish MATIC token price action, algorithm-based forecasting service Wallet Investor gave a bullish MATIC coin price prediction at the time of writing (19 April).
The site noted that MATIC is “an awesome investment”, adding that it has a long-term earning potential.

Based on its analysis of past price performance, the website expected that the token could cost $2.439 in 2023 and jump to $6.701 by 2027.

DigitalCoinPrice supported the positive MATIC to USD forecast, but projected a much slower pace of growth in the following years, predicting that the token could rise to $1.98 by the end of 2022, $2.50 by the end of 2024 and $3.15 by the end of 2025, surpassing its December 2021 all-time high.

For the end of 2028, the site gave a $4.41 Polygon price target. Its long-term MATIC future price prediction suggested that the cryptocurrency could have the potential to reach $6.89 by 2030.

Note that price predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence. And never invest or trade money you cannot afford to lose.

Polygon (MATIC) price prediction: The bottom line

The green transition and Robinhood listing appear to be fuelling the bull case for the MATIC coin, in line with the upbeat predictions from algorithm-based forecasting sites.
There are many factors at play for the future of the coin, from the overall macroeconomic environment, acceptance of the crypto markets and the level of adoption. Always remember that your decision to trade should depend on your attitude to risk, your expertise in this market, the spread of your investment portfolio and how comfortable you feel about losing money. Crypto markets are  very volatile and involve high risk. Never invest money that you cannot afford to lose.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j

VET crypto price prediction: Will VeChain rise in value?

VET crypto price prediction: Will VeChain rise in value?

VeChain demonstrates the continuing advancement of the blockchain sector.

VeChain is a fully programmable smart contract platform that utilises distributed ledger technology to provide retailers and consumers with the ability to determine a product’s quality and authenticity. In a sense, this enhances supply chain and product lifecycle management processes, while connecting blockchain technology to the real-world.

Founded in 2015 by Sunny Lu, the project’s vision is to build a trust-free and distributed business ecosystem platform to enable transparent information flow, efficient collaboration and high speed value transfers.

More specifically, VeChain ToolChain offers a low-code blockchain-based software as a service (SaaS) platform that allows enterprise clients to build and drive digital transformation on a global scale. Solutions are suited to an enterprise’s specific business needs. VeChain has secured high-profile partnerships with the likes of PwC, Walmart China and BMW Group.

What the VeChain project excels at is enabling businesses to track their products and conduct quality assurance through a unique blockchain-as-a-Service (BaaS) model. This has the potential to both reduce the costs between parties, as well as making business cooperation simpler and more efficient.

In particular, global supply chain suppliers stand to benefit from the integration of blockchain technology since their systems often rely on tracking physical paperwork between siloed parts of a multinational network.

In 2019, multinational retail corporation Walmart announced that it would be partnering with VeChain to streamline product management between its suppliers, stores and customers in China through a traceability strategy.

Earlier this year, the Republic of San Marino approved VeChain’s NFT-based vaccination passport which contains a record of past infections, negative test results and also provides a digital vaccination certificate.

In other VeChain news, the company has worked with the Chinese government to introduce a risk self-assessment application called VeTrust, which is built on the VeChainThor blockchain and combines DNV’s – the classification society and a recognised advisor for the maritime industry – infection risk management methodology.

What is VeChain (VET)?

From product source materials to servicing history, every single piece of information about the supply chain movement of a product can be recorded and verified. VeChain offers a product traceability strategy which covers the life cycle of products from manufacturing, logistics, supply chain, retail and wholesale.

By utilising VeChain’s blockchain-powered platform, businesses can assign products with unique IDs and then track goods and services by embedding this ID in a QR code. This allows manufacturers, supply chain partners and consumers to track the movement of products through their supply chain.

On the VeChainThor platform, there are five main types of participants:

  • Business owners, which includes all kinds of entities such as enterprises, individuals, organizations, departments of governments and regulators
  • Application service providers that help business owners who do not have the individual adequate capabilities to build necessary applicational development and services on the VeChainThor blockchain
  • Enterprises or individuals that are capable of providing technical services to build and run smart contracts for business owners who wish to develop blockchain applications
  • Infrastructure service providers who ensure the integrity of the VeChainThor blockchain network by generating and verifying blocks
  • Members of the VeChain Foundation

The VeChain token (VET) is used to carry value from smart contracts which means that transactions on decentralised applications occurring on VeChain’s blockchain use VET.

The VeChain Foundation has distributed more than 70% of VET tokens (including a portion of burnt tokens) through different processes including private sale, public sale, promotions, business collaborations and marketing activities.

VET price analysis: Technical view

The VET coin started its journey in August 2018, and achieved an all-time high of $0.2782 on 17 April 2021. Only a week earlier, on 10 April 2021, VET had been trading at $0.1335.

However, the price retreated to $0.1589 on 25 April, dropping to as low as $0.07553 on 23 May. This is somewhat of a sharp drop considering that the coin had hit its all-time high just 37 days earlier.

The VET price then consolidated, trading within the $0.06 to $0.09 range until 7 August 2021, when it climbed to $0.1031, hitting $0.1556 on 6 September 2021. The rally was short lived, and the trend reversed when the price dropped to $0.08642 on 29 September 2021.

It’s currently (2 December) trading at around $0.116202. A decisive close above $0.12 would confirm a rally and clearing this crucial barrier could reverse VET’s downward trend.

VET ranks 27th in the list of cryptocurrencies by market capitalisation at $7.6bn. There are more than 64.32bn VET coins in circulation from a total supply of 86bn, according to CoinMarketCap.

Technical analysis provided by CoinCodex shows that short-term sentiment on VET is bearish, with eight indicators displaying bullish signals compared with 18 bearish.

The daily simple and exponential moving averages are giving mostly sell signals, according to data from TradingView, while the relative strength index (RSI) is at 39, as of 2 December. An RSI reading of 30 or below indicates an oversold or undervalued condition. Generally, when the RSI surpasses the horizontal 30 reference level, it could be interpreted as a bullish signal.

The technical analyst at CoinText, Ansh Rathod told Capital.com:

“VET has fallen by over 40% from the highs that it hit last month, however it seems to be taking support from the lower trendline, which could be a reversal zone for the coin. VET has formed several bullish candles at the support level and a break from the $0.129 resistance zone could change this downward trend.”

Blockchain-powered solution focused on supply chain and logistics needs

Last month, VeChain marked a milestone in its seven-year history. The company launched the first phase of its Proof-of-Authority (PoA) 2.0 consensus mechanism, which aims to improve the scalability of the network.

The upgrade allows VeChain transactions to be authorised without the use of mining, thus reducing environmental impact and providing a boost to the project.

According to VeChain, PoA 2.0 combines the Byzantine Fault Tolerance and Nakamoto consensus mechanisms to offer a more secure system, which could lead to wider adoption for the project.

Anndy Lian, chairman of BigONE Exchange and chief digital advisor for Mongolia’s national productivity agenda, believes that the VET token has not yet reached its optimum potential.

“VeChain’s recent upgrade to a Proof-of-Authority (PoA) model is deemed to be more environmentally friendly and this is just the beginning. Many people in my circle are saying that VET’s price could go up during this bullish market but they are yet to invest in the project as they are waiting for the full-scale launch of the upgrade to materialise. I can only say that innovation takes time – let’s be patient.”

What are the risks for the VET token?

While VeChain is a cryptocurrency that powers a network with some revolutionary potential, it’s crucial to take key risks into account and consider the price yourself before you decide to proceed forward. VeChain was launched in 2015, making it a relatively new project.

Also, the PoA system used in VeChainThor lacks the open, permissionless and decentralised nature which is inherent to blockchains, thus posing centralisation risks.

VET token price prediction: Buy, sell or hold?

In terms of a VET coin prediction, algorithm-based forecasting service Wallet Investor gives a positive VET/USD forecast. Based on historical data, Wallet Investor sees the price rising to $0.224 by December 2022, $0.441 in December 2024 and hitting $0.549 by December 2025.

Digital Coin Price supports the bullish VET crypto forecast, expecting the token to grow to $0.2290027113 in 2022, $0.2898387094 in 2025 and hit $0.5757652097 in 2028.

Note that algorithm-based predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest or trade money you cannot afford to lose.

Original Source: https://capital.com/vechain-vet-coin-prediction

 

What is VeChain?

VeChain is an enterprise blockchain platform that aims to solves some of the major problems with supply chain management. VeChain also plans to become a leading platform for conducting transactions between Internet of Things (IoT) connected devices.

Who invented VeChain?

VeChain was founded in 2015 by Sunny Lu. Lu was the former CIO of Louis Vuitton China.

What is Anndy Lian's view on VeChain now?

VeChain’s recent upgrade to a Proof-of-Authority (PoA) model is deemed to be more environmentally friendly and this is just the beginning. Many people in my circle are saying that VET's price could go up during this bullish market but they are yet to invest in the project as they are waiting for the full-scale launch of the upgrade to materialise. I can only say that innovation takes time - let's be patient.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j