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Yearn.Finance (YFI) or Bitcoin (BTC), Which Will Hit $30k First?

The price of yearn.finance’s YFI token surpassed the price of Bitcoin trading at $24K. Which cryptocurrency have potential to hit $30K first?

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It’s a bullish start to the day for the major cryptocurrencies. Steering clear of the day’s pivot levels would bring resistance levels into play. Overall, the crypto’s price is currently caught within a holding pattern with defi tokens like LINK, SUSHI, and YFI price showing massive gains.

On December 23rd Bitcoin price successfully surpassed Yearn.Finance and was the highest valued crypto. YFI is currently trading at $21,780 after a significant rebound from the low of $18,000.

YFI Price Might Plunge Before Massive Surge!

At press time yearn.finance price is trading at $23,963.51 with a 24-hour trading volume of $460,479,791 USD. YFI is up 21.28% in the last 24 hours. The current CoinMarketCap ranking is #37, with a market cap of $718,139,313.

As we can see the exchange inflow of YFI coins has spiked again, Large investors are eagerly waiting for the YFI price to dip lower before starting to buy. This indicates that the defi token price is poised for a plunge before a massive surge.

Previously, in the month of November, we saw similar behavior that resulted in whales buying the dip. As per the 4-hour and 12-hour charts, the TD Sequential indicator has just presented two buy signals simultaneously, giving a lot of credence to the bullish outlook.

Analysts believe that Yearn.finance’s current technical structure is similar to that of Ethereum’s in late-2016. If history rhymes and YFI sees a similar breakout in the coming days, there’s a strong possibility that the token could enter another price discovery phase that results in it seeing some parabolic momentum.

BTC Price Struggles Within $24,000 Range, Could Trigger on the Upside Soon

BTC is displaying steady performance. At press time Bitcoin price is $23,671.46 USD with a 24-hour trading volume of $36,382,424,119 USD. Bitcoin is up 3.14% in the last 24 hours.

Also Read : What Bitcoin Price Will Look Like in 2021?

In the past two sessions, bitcoin saw a bullish move above the USD 23,000 level. BTC climbed higher above the USD 23,200 and USD 23,500 resistance levels. It is currently showing positive signs, but there are still many key hurdles on the upside near USD 23,880 and USD 24,000.

On the downside, the first major support is near the USD 23,200 level. The next major support is near the USD 23,000 level, below which the price could revisit the USD 22,700 region.

As per the BTC/USD price 4Hour chart the next possible resistance level could be at $24300. Further, the next notable price spot is $26127.84. However, it looks that the Bitcoin price is facing minor resistance to the upside and it is on the path of the $30K mark.

At present , it seems that odds support the bulls in the short and long-terms. Most technical indicators are already massively bullish on virtually all time-frames.

Analysts believe that Yearn.finance’s current technical structure is similar to that of Ethereum’s in late-2016. If history rhymes and YFI sees a similar breakout in the coming days, there’s a strong possibility that the token could enter another price discovery phase that results in it seeing some parabolic momentum.

Source: https://coinpedia.org/news/earn-finance-yfi-or-bitcoin-btchit-30k-first/

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Coinpedia

Bitcoin Cash Price Prediction, Will BCH Hit Incredible Surges At $1000?

According to Coinpedia’s formulated Bitcoin Cash price prediction, the coin’s price may strike a maximum of $1417.33 by the year end if the Bullish plans revealed become a reality.

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When every investor became inquisitive about the first ever crypto currency, not many realized its shortcomings. After 2009, Bitcoin was the most buzzed word with huge search volumes on the Internet. But what pulled it back? Undoubtedly the other cryptocurrencies on the list that guaranteed to overcome Bitcoin’s setbacks. Understanding what the world needed, Bitcoin took its step towards the same, and Bitcoin Cash entered the market, 2017. Inquisitive to learn about Bitcoin Cash price prediction?

Though BTC strikes as the most expensive crypto money, the hard fork currency has everything that makes transactions quick, feasible and easier. But what drove the network to develop all new currency? As the crypto monster became highly prominent, it turned from a currency to investment for many! Moreover, a significant number of transactions happened over the network. But unfortunately, the speed collapsed causing congestion in the network!

What was the result? The blockchain collapsed, displaying an increased time for transaction confirmations. As a result, the transaction fees skyrocketed leading to chaos among the traders. Due to this hamper, the network could only process seven transactions a second.

Probing into the reasons, the network analyzed that the 1MB block size put down the transaction holding capacity that eventually caused every other flaw on the platform. Also, it took around ten minutes to generate a new block, putting every transaction queued. Bypassing the troubles, The Bitcoin Cash boosted the block capacity between 8 and 32 MB. Addressing scalability, the transactions per second also raised to 25,000, reported by a stress test in 2018.

Did you know that Coinbase ,initially did not support Bitcoin cash but later reversed it?

Successfully circumventing every possible hindrance, Bitcoin Cash is now a prominent, peer to peer Electronic Cash. With the same mining algorithm, Emergency difficulty Adjustment (EDA), BCH shares several similarities from the sister currency. The forked cryptocurrency is perfect to spend, trade and exchange rather than holding!

With PoW methodology, mining and increased transactions, what would be the future of this currency? What makes it better yet stay far behind Bitcoin? Bitcoin Cash’s official Website states BCH as the world’s best money! Will it outgrow other altcoins on the list? For a long term Bitcoin Cash prediction, latest updates and many more, just skim further!

OverviewCryptocurrencyBitcoin CashTokenBCHPrice$619.36Market capitalization$11,620,270,138.35All Time High$4,355.62 Dec 20, 2017 All Time Low$75.03 Dec 15, 2018Circulating supply18,764,313 BCHTotal Supply18,764,313 BCHAverage ROI11.45%What Is Bitcoin Cash (BCH)?

Bitcoin Cash (BCH) is a hard fork of Bitcoin that occurred on August 1st, 2017. After the advent, the network rewarded every Bitcoin holder with an amount of BCH. With just a duplication in the original block chain, it successfully prioritized on-chain scaling and utility as a peer-to-peer electronic cash system. Bitcoin Cash expands the size of blocks, enabling more transactions to be processed.

Basically, BCH was created to overcome two major challenges faced by Bitcoin scalability- by increasing the “block size”, BCH can process an impressive number of transactions per second when compared to Bitcoin. The other factor is Transaction Fee- Bitcoin’s transaction fee is around $1.31, whereas it is around $0.125 for Bitcoin Cash.

The forked currency is capped at $21 million, just like Bitcoin. By doing so, the network ensures value for every holder, putting down inflation rates to the minimum. The network also mentions that BCH supports token protocols and with this, it would be straightforward to create token backed projects!

Bitcoin Cash has made sending money to any account around the world is just simple! You can send money 24/7 and need no approval for a transaction, says the network. With increased privacy and decentralization, every penny in the Network is assured of safety and accessibility.

Initially, the coin was launched at the price of $250, and the next day, the price increased to $651 per coin. By the middle of the month, it already cost $900. Currently, Bitcoin Cash has begun routing its way to the top and managed to reach milestones.

Fundamental Analysis

Though designed to be sectioned from Bitcoin, BCH uses a similar technology and consensus mechanism and works almost like BTC. The platform works with a peer to peer node network and initially started with EDA as a mining algorithm. But it created discrepancies as many started switching between the two networks, earning huge profits. As this hindered the market supply, the EDA was modified making mining easier.

The revised update also began to use the SegWit of Bitcoin. Also called the aggregated Witness Solutions, the data congestion on blocks were resolved. According to Segwit, data related to a specific block’s transaction can be stored outside the block rather than on it. By doing so, the transaction processing time will be curtailed and higher rates can also be possible.

Recounting to the latest update on BCH, that happened earlier this year, on May 16, working on user experience and security was revealed, went viral on Twitter. A transaction chain of length 4642 was reported to have been mined on the network.

In 2019, BCH partnered with Fanduel, a popular Fantasy sports service. Sonny Singh, the CCO of the service also stated that through the Partnership football fans can make deposits using Bitcoin and Bitcoin cash, also betting with them! The coin giving a unique dimension to the crypto world, is now seen everywhere! Today, there are more than 100s of projects, platforms and services on BCH.

From Defi and Smart contract solutions like Detoken, Anyhedge, Smart BCH to Developer tools like Mainnetcash, Cashscripti, Fullstack and many others, Bitcoin cash has stayed true to the promise of being the World’s best money!

As BCH is developing into a spending currency, it is always advisable to store them on wallets. According to Coinmarketcap, wallets like Ledger, Trezor, Math Wallet, BTC Wallet, Coinbase are some wallet options!

What lies in the destiny of BCH? It’s all below!Bitcoin Cash Price Prediction 2021

During the start of 2021, BCH continued to trade at $340.56. On a bullish note, the price started to rise and reached $595.02 on 10th January. During the May 19, Market crash, BCH price dipped substantially from $1093.36 to $706.80. The Bitcoin cash price USD became highly volatile post this event, that it flipped down further and hit $596.84, as June hit. Currently, the BCH price is $640.05( at the time of writing).

Any positive impact on Bitcoin will hype up the Bitcoin Cash as well and it goes without saying for a negative comment too! Recently, BTC was adopted as legal money in EI Salvador. Also other constructive notes on BTC like SkyBridge Capital’s $7.5 billion hedge fund’s authorization on the currency, and many more might put the momentum on track for BCH to surge in the coming months. If this happens, the price may shift into an uptrend, with slight pull backs and reach $1418.17 by this year end.

Many critics argue about the fact that the BHC network does not have a well defined governance protocol which might put the entire system at stake! For a highly competitive crypto world like today, it is believed to be a critical setback for BCH to grow further. On this note, if the network does not lay out a defined protocol, the price might turn bearish with investors withdrawing from the platform. So, the price may even hit lows at $655.440.

Without any favorable developments, the coin might move steadily and hit $1000 on an average, by the end of the year with existing users!

Also read: Solana Price Prediction, Price boom to hit with a $100?

BCH Price Prediction 2022

f the present year turns bullish for the coin, it might close the year hitting the highs. In such a case, the year 2022 might commence with a similar trend. Thereby, the BCH price kick starting next year could be around $1423.91.

On the flip side, if the coin falls into a bearish trap and strikes minimums, then the trade resuming 2022 can be towards the south. On a bearish note, the price might move around $673.74 as 2022 begins.

Though BCH promised a higher block size than that of Bitcoin’s, there is still a long way to go for the network. However, if the platform works to increase the block size, or testing that smaller blocks can stimulate higher transaction speed, the market might turn favourable for this asset. With further developments coupled, the price shall hit $1761.48 by the end of 2022.

However, the Bitcoin Cash network has not announced any partnerships to happen over the platform anytime. While competitors like Litecoin, Dashcoin are partnering to expand their networks, BCH seems to be remote from the crypto space for many! This can turn into an antagonistic fallout causing the BCH price USD to fall at $782.79.

Sticking to the fact that Bitcoin cash’s transaction fee is still on the lower side, that is less than a penny, many users may find this a plus and site themselves to the network. So, the average figures for 2022 might hit a decent range at $1269.89.

5 Years BCH Price Prediction

This year began to see community developers working hard to pull off the socks for the coin. Teams of Anyhedge, Electron Cash and many more are operating towards making the network more reliable and user friendly. Resources also say that, the teams have listed future plans which include payment widgets and financial derivatives powered by Smart contracts and Decentralised exchanges are on board. If the network manages to fulfill the same, the future market can turn over towards the coin making BCH price strike at maximums of $3666.73.

On the other hand, the coin has been highly volatile in the market, and might keep investors with FUD away from the network. Also, a possible similar market crash, with Elon Musk and others debating over PoW, in the coming years might cause the price to hit lower ends at $1195.11 or below.

However, if the people making daily payments and transactions over the network might remain unaffected, with slight buying and selling pressure, the BCH price may move at $2074.84.

What Does the Market Say?DigitalCoinPrice

According to DigitalCoinPrice revised forecast, Bitcoin Cash will trade at $1,7585.61 by the end of 2025.

LongForecast

According to LongForecast, BCH’s price might close 2021 with a $769 mark.

Cryptoground

According to CryptoGround, BCH might reach $861.06 in one years’ time frame.

Smartereum

According to Smartereum, a crypto predicting website, BCH might reach around $24,600 by 5 years.

EXPERT’S CORNER | What experts say about Bitcoin Cash?

Crypto experts predict Bitcoin Cash price to head with +1.5%.

#BitcoinCash $bch
Price: $641.54
24 hr: +5.45%

Main Trend: 📉
Short Term Trend: 📈
Areas of Support
MUST Hold Above: $601.93

👀 Levels of interest
Longer Term : $929.65
Caution Below : $576.74

Have a PLAN

— Trader Fred (@DCA_Cryptoz) June 15, 2021

Another prominent handle suggests Longer term levels to strike at $929.65.

Trading range in $BCH is narrowing. It needs to break above the downtrend line to start making any progress to the upside. But, if it breaks below the uptrend line, it will be in trouble. Then the retest of low at $467.80 is possible.#Bitcoincash pic.twitter.com/Hf1hYRGpce

— Marketc (@Marketc12) June 13, 2021

On the other hand, many others suggest a retest level near $467.80 if the uptrend line disrupts.

Know Our Bitcoin Cash Price Prediction

As Bitcoin Cash has proved itself to be a better consumer cash than the Crypto monster, the coin has all potential to be on the bullish cards. According to Coinpedia’s formulated Bitcoin Cash price prediction, the coin’s price may strike a maximum of $1417.33 by the year end if the Bullish plans revealed become a reality. With contributors like Josh Green, George Donnelly, Roger Ver and many more, working on various code changes to bring the block chain to a higher standard, a possible breakout can be on board if it turns into a reality.

However, currently there are other factors that might entangle BCH into a downtrend again. If the China Crypto ban strengthens in the coming days, the price movement can turn highly bearish and drop to a low of $654.73. Also, the US inflation and shooting up CPI figures can pave way for currencies like BCH to collapse.

Also read: Cardano Price Prediction, Evolutions to make ADA mark at $5?

Year Potential High Potential Low 2021$1418.17$655.4402022$1761.48$782.792025 $3666.73$1195.11Know How BCH performed previously2017

Initially, when introduced, BCH was trading at nearly $250. The price was continuously moving in the uptrend reaching $4091, which is the highest price.

The above Bitcoin Cash price chart illustrates that in November 2017, the BCH price hit a temporary level of price resistance at approximately $1,700. This price point included the Bitcoin Cash price from uptrending and only after its third attempt at this level of price resistance. Further, the resistance was finally broken. The break above resistance leads to an accelerated move toward higher BCH prices.

But at the end of the year, the market turned bearish, and Thus, bitcoin cash suffered huge losses reaching $2557

2018

At the beginning of 2018, the whole crypto market turned bearish. During the first quarter of the year Q1, the coin sloped down reaching $898.55 in February 2018. But nonetheless, the coin gained momentum back experiencing a bullish trend at the beginning of Q2 reaching a trading value of $1726. Further, in the mid of Q2, the price suffered a downtrend reaching $640.

In November 2018, a hard-fork chain split of Bitcoin Cash occurred between two rival factions called Bitcoin ABC and Bitcoin SV. On 15 November 2018 Bitcoin Cash ABC traded at about $289 and Bitcoin SV traded at about $96.50, down from $425.01 on 14 November for the un-split Bitcoin Cash.

The bearish trend continued further in Q3 and Q4 reaching the lowest value trading at $160 by the end of 2018.

2019

At the beginning of 2019, the coin was trading at $165.33. Anyways during Q1, there was not much variation in the price, however, there were minute pumps and dumps. At the beginning of April, the coin enjoyed a bullish trend reaching $302.31. However, the resistance remained within $300 and again the price surged to $488.34 by the end of June.

2020

2020 for BCH began on a bearish note. The cryptocurrency was trading at around $190 per coin. However, BCH was bullish for most of the first quarter. The price grew from the sub-200 level to surpass $300 by March.

To further the Q1 gains, BCH progressed to touching $400 by the beginning of February and later $500 in the middle of the month.

A sharp price decline set in in March and BCH crashed to around $150. The crash proved fatal and BCH is still recovering from the loss accrued since then. BCH rose to $246.90 by the end of April and climbed to $265.65 at the start of May. With certain price swings, BCH spiked to $308.14 and further plunged to $261.27 by the end of October. As the expansion of Bitcoin’s price rally, BCH surprisingly rose to $340.60 and continued trading at $354.95 at the end of December 2020.

FAQ’S

What Is Bitcoin Cash (BCH)?

Bitcoin Cash (BCH) is a result of a Bitcoin fork that occurred on August 1, 2017. It is an alternative version of Bitcoin that makes use of new features and rules, and has a different development roadmap.

Can Bitcoin Cash be mined?

Yes, BCH also uses the same proof-of-work algorithm that is used by Bitcoin. Hence, it can be mined using CPUs and GPUs.

How can Bitcoin Cash be used?

Bitcoin cash can be used as a mode of payment where-in the user can send and receive the funds

Why is BCH much cheaper than BTC?

The cost of the asset depends on the miners and hence the BCH price being low due to the slow working conditions of the miners

Disclaimer: This piece of Article is only for informational purposes. It is not trading or financial advice.

Probing into the reasons, the network analyzed that the 1MB block size put down the transaction holding capacity that eventually caused every other flaw on the platform. Also, it took around ten minutes to generate a new block, putting every transaction queued. Bypassing the troubles, The Bitcoin Cash boosted the block capacity between 8 and 32 MB. Addressing scalability, the transactions per second also raised to 25,000, reported by a stress test in 2018.

Source: https://coinpedia.org/price-prediction/bch-bitcoin-cash-price-prediction/

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Shiba Inu Price Plunge Hard! Should You Buy the Ongoing Dip?

Shiba Inu Price needs to climb back above $0.000007. If SHIB Price is able to break through this resistance, it will go on to the…

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Despite a recent drop in cryptocurrencies, Shiba Inu coin the meme-based cryptocurrency that has been dubbed a “Dogecoin killer” has not vanished. However, there are still certain roadblocks in the way of Shib Inu.

Many people believe that the SHIB coin’s rise is solely due to the community. However, there are other circumstances that may assist the cryptocurrency in gaining traction.

Shiba Inu will be getting a new dedicated exchange in the near future. ShibaSwap, a new decentralized cryptocurrency exchange (DEX) similar to UniSwap or PancakeSwap, will be more of coin exchange. The platform has apparently been operational for several weeks, but it is still undergoing testing to assure total security and transparency.

As of the present conditions, Shiba Inu price has dropped below a critical support level of $0.000007 and is headed for new lows of $0.00000630. If Shiba Inu breaks through the $0.00000630 support level, it will go to the $0.00000440 support level.

To acquire upside momentum in the near term, Shiba Inu needs to climb back above $0.000007. If Shiba Inu is able to break through this resistance, it will go on to the next level of resistance at $0.000008.

$1 For Shiba Inu Price?

Although the future for Shiba inu appears bleak, many experts and analysts have weighed in with their predictions. Market Realist outlined a strategy for Shib coin to hit the $1 level, which has long been a dream of Dogecoin enthusiasts. To reach $1, Shib coin would have to increase by 12,000,000%.

Every month since January, the coin has increased by around 2,000,000 percent. According to Market Realist, it might approach $1 by the end of 2021 if it continues to expand at this rate. Shiba’s price is expected to hit $0.000030 by June 2021 and could rise to $0.000048 by the end of the year, according to Wallet Investor.

As of the present conditions, Shiba Inu price has dropped below a critical support level of $0.000007 and is headed for new lows of $0.00000630. If Shiba Inu breaks through the $0.00000630 support level, it will go to the $0.00000440 support level.

Source: https://coinpedia.org/price-analysis/shiba-inu-price-plunge-hard/

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An Extreme Bullish Case Emerges For Ethereum Price, $6000 May Be On Cards!

The etheruem(ETH) price is attempting to follow a similar path and if it successfully mirrors previous rally, levels above $5000 is imminent

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Ethereum price rally

In the times when the Bitcoin price rally went into a passive mode and the Ethereum price rally intensified, many believed ETH may flip BTC someday. Moreover, the difference between the market caps was diminishing at a greater pace. This fueled the speculations of the asset spiking above $5000 soon.

However, the black Wednesday of May trembled the markets which were destabilized by a massive margin. ETH price was trading above $4000 and within no time slumped below $2000. Since then the price was in search of a bigger boost to recover the losses which are still missing at the press time.

Also Read: Bitcoin Price & Ethereum Price Initiates A Bearish Weekly Trade, What’s Next?

On the other hand, the price with the current day trend sets the field for a massive breakout. The price is on the verge of forming a ‘Cup and Handle’ pattern and hence expected to visit some lower levels. Nevertheless, later a notable breakout may follow the slump to escort the price.

A popular analyst, Shelby predicts the most bullish predictions and sees the price rallying above $6000 in the coming weeks.

Currently, the ETH bulls should come into action and uplift the price above the upper resistance levels around $2936. And in the meantime, a spike in the trading volume will also follow which will confirm the upside trajectory.

On the contrary, currently, the ethereum price manifests some signs of capitulation as the exchange inflows have seen a spike. However, this might be short-lived as the ETH price is poised to regain the lost positions and propel above $5000.

Also Read: Here’s When Cardano Price (ADA) & Ethereum (ETH) will Skyrocket!

Photo of Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Source: https://coinpedia.org/price-analysis/extreme-bullish-case-emerges-for-ethereum-eth-price/

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