HOME

:Cryptocurrency and Terminolog Understanding the Basics

Leave a comment

Cryptocurrency and Terminology: Understanding the Basics

Cryptocurrency and Terminology: Understanding the Basics

Cryptocurrency is a new kind of digital money that has gained a lot of attention from investors, tech experts, and regulators around the world. It’s more than just a different type of regular money. Cryptocurrencies use something called blockchain, which is a way to record all transactions using a network of computers. The blockchain uses special codes to make sure that the transactions are secure and in the right order. This mix of special codes and blockchain means that each unit of cryptocurrency, which people usually call a coin, is special and not easy to copy.

A computer screen displaying various cryptocurrency logos and terminology. Charts and graphs in the background

While the world of cryptocurrency can seem intimidating at first, understanding the terminology can demystify many of its concepts. From the basics of blockchain and the nuances of different coins to the complexities of crypto networks and the significance of cold wallets, each term provides a piece of the puzzle. The cryptocurrency ecosystem consists of various exchanges, wallets, and investment strategies—all of which operate under an evolving landscape of regulation and legal considerations. As the industry expands, staying informed about the key terminology is crucial for anyone looking to navigate this dynamic space effectively.

KEY TAKEAWAYS

  • Cryptocurrencies are secured by cryptography and built on blockchain technology for transparency.
  • Grasping crypto terminology is essential for engaging with and understanding the market.
  • The cryptocurrency ecosystem is constantly expanding with varied regulatory frameworks.

BASICS OF CRYPTOCURRENCY

The foundation of cryptocurrencies lies in their secure digital nature and reliance on underlying technology. By understanding the key concepts and components such as blockchain, various unit denominations, and types of cryptocurrencies, one can gain insight into this innovative financial landscape.

UNDERSTANDING CRYPTOCURRENCY

Cryptocurrency is digital or virtual currency that uses cryptography for security, making it challenging to counterfeit. The most well-known cryptocurrency is Bitcoin, which paved the way for the emergence of various other cryptocurrencies, often referred to as altcoins. Each Bitcoin is divisible into 100 million smaller units known as satoshis, offering precision in transactions and valuation.

THE ROLE OF BLOCKCHAIN

At the heart of cryptocurrency is blockchain technology: a decentralized and distributed ledger that records all transactions across a network of computers. Blockchain’s robust security comes from its ability to encrypt, or cryptographically hash, each transaction block, creating an unalterable chain of records. This ensures transparent and tamper-evident transactions, bolstering trust among its users.

CRYPTOCURRENCY UNITS OF ACCOUNT

The unit of account in the cryptocurrency realm is often the coin, which represents a store of value or means of transactions within a blockchain network. In Bitcoin’s case, the coin is itself divisible and transactions can be measured in smaller units, such as satoshis. Other cryptocurrencies may also have their own unique denomination, but the concept of divisibility generally applies across the crypto spectrum, facilitating versatile use cases and financial applications.

KEY CONCEPTS IN CRYPTOCURRENCY

Understanding the fundamental terminology of cryptocurrency is crucial for navigating this evolving landscape. Below are pivotal aspects that form the bedrock of digital currency operations.

CRYPTOGRAPHY AND TRANSACTIONS

Cryptocurrency transactions are secured through cryptography. Each transaction involves a private key, which authorizes the action, and a public key that functions as an address to receive funds. It’s essential that these keys work in tandem, with the private key remaining confidential to ensure security while the public key can be shared openly. When a user initiates a transaction, it is broadcasted to the network with a unique hash—a cryptographic fingerprint—that ensures its authenticity and prevents tampering.

MINING AND CONSENSUS MECHANISMS

The process of validating transactions and adding them to the blockchain is called mining. Miners compete to solve complex puzzles using Proof of Work (PoW) or contribute their cryptocurrency holdings to secure the network through Proof of Stake (PoS) to make sure that the transactions are confirmed and the blockchain is trustworthy.

WALLETS AND STORAGE

To store and manage cryptocurrencies, users employ a wallet, which is a digital tool containing the public and private keys for transactions. Wallets can be categorized as hot wallets—connected to the internet and suitable for frequent use—or cold wallets, like hardware devices or paper wallets, which offer additional security by being offline. The choice between wallets often depends on the balance between convenience and the heightened security of offline storage.

Cryptocurrency wallets do not store the cryptocurrencies themselves but provide the means to access and interact with one’s holdings on the blockchain.

POPULAR CRYPTOCURRENCIES

Various popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, are depicted with their respective logos and symbols. The word "cryptocurrency" is prominently displayed, surrounded by various technical terms and jargon

With the rapid expansion of the cryptocurrency market, certain digital currencies have come to dominate the landscape. This section will explore the trailblazers and innovators among these digital assets.

BITCOIN: THE ORIGINAL CRYPTOCURRENCY

Bitcoin (BTC) was created by someone named Satoshi Nakamoto. It is the first cryptocurrency ever made and is the largest one in terms of market value. People often call it digital gold. Bitcoin works on a network that is decentralized and can be divided into smaller parts. The smallest part is called a satoshi, which is equal to one hundred millionth of a single bitcoin.

ALTCOINS AND THEIR SIGNIFICANCE

Altcoins, a term that encompasses all cryptocurrencies aside from Bitcoin, have introduced a diverse range of functionalities. Popular altcoins like Ethereum (ETH) bring extensive utility through smart contracts, propelling the decentralized finance (DeFi) movement. These altcoins are fundamental in providing alternatives to traditional financial systems and empowering various blockchain applications.

TOKENS VERSUS COINS

The distinction between tokens and coins is critical in understanding cryptocurrency. Coins, like BTC and ETH, have their own dedicated blockchains. Conversely, tokens are built on existing blockchain platforms, representing assets or utilities within specific ecosystems. Ethereum is a prominent platform for token development, with numerous tokens utilizing the network for a variety of applications.

INVESTING IN CRYPTOCURRENCY

Investing in cryptocurrency involves understanding the platforms for trade, opportunities for early investment, and techniques for market analysis. With a range of instruments and terms specific to digital assets, investors are navigating an evolving landscape.

CRYPTOCURRENCY EXCHANGES

Cryptocurrency exchanges are digital marketplaces where traders can buy, sell, or exchange cryptocurrencies for other digital currency or traditional currency. Exchanges serve as an integral part of the Bitcoin network allowing investors to access cryptocurrencies like Bitcoin and Ether. Investors can place a variety of orders, such as a limit order, which specifies the price at which they’re willing to trade. Whales, or large-scale investors, often influence market prices due to the sheer volume of their transactions.

Cryptocurrency and Terminology: Understanding the Basics

INITIAL COIN OFFERINGS (ICO)

An ICO is a fundraising mechanism where new projects sell their underlying crypto tokens for Bitcoin or Ether. It’s akin to an initial public offering (IPO) where investors purchase shares of a company. ICOs can present opportunities for early investment, but carry risks of fraud and high volatility. Investors should be wary of FUD (fear, uncertainty, and doubt) and FOMO (fear of missing out), which can cloud judgement.

MARKET ANALYSIS

Effective market analysis in cryptocurrency requires studying both technical and fundamental factors. Investors analyze market sentiment to determine if it’s bullish (optimistic) or bearish (pessimistic) before making trades. Positive news or strong investor sentiment can lead to an all-time high (ATH) in market sentiment, while negative news can cause assets to drop. Understanding market trends and the influence of ASIC (application-specific integrated circuit) miners on the blockchain can help investors make better decisions.

UNDERSTANDING CRYPTO NETWORKS

A network of interconnected nodes exchanging digital assets with blockchain technology and cryptographic protocols

Cryptocurrency networks are complex systems made up of different participants and technologies ensuring secure and decentralized operations. Key to these systems are the nodes that uphold the network, the possibility of forks which can alter the network’s path, and the security measures in place to thwart potential attacks.

NODES AND NETWORK PARTICIPANTS

Nodes are the backbone of any cryptocurrency network. These are individual computers, or participants, that maintain a copy of the network’s ledger and validate transactions. They communicate with each other using peer-to-peer (P2P) protocols to distribute information about transactions and new blocks. In a typical network, full nodes hold the entire history of blockchain transactions, helping to enforce rules and enhance security.

FORKS IN CRYPTOCURRENCY

A fork occurs when there’s a divergence in the blockchain’s protocol or a change in the underlying rules. Hard forks create a new blockchain that is incompatible with the existing one, requiring all nodes to upgrade to the new protocol. Conversely, a soft fork is a backward-compatible update that doesn’t mandate all nodes to upgrade. Forks can be planned, as in protocol upgrades, or can occur spontaneously due to disagreements in the community.

SECURITY AND ATTACKS

Cryptocurrency networks are designed with robust encryption methods to secure transactions. However, they can still fall prey to attacks. A 51% attack happens when a group gains control of the majority of the network’s hash rate, which could potentially allow them to carry out a double spend—where the attacker spends the same coins twice. Networks strive to prevent such attacks by distributing control among many nodes, making it more difficult for any single entity to gain the

Cryptocurrency and Terminology: Understanding the Basics

CRYPTOCURRENCY ECOSYSTEM

The cryptocurrency ecosystem encompasses a vast network of technologies that facilitate a decentralized digital economy, based on principles of transparency and peer-to-peer interactions, and underpinned by blockchain technology.

DECENTRALIZED APPLICATIONS (DAPPS)

Decentralized applications, or DApps, operate on a blockchain or distributed ledger and aim to eliminate centralized intermediaries. They offer various services from gaming to finance, ensuring that all transactions and operations are stored on a public ledger, providing transparency and resistance to censorship.

DECENTRALIZED FINANCE (DEFI)

Decentralized Finance, also known as DeFi, is a move away from traditional, centralized financial systems to peer-to-peer finance using decentralized technologies. DeFi platforms provide services like lending, borrowing, and trading, using smart contracts to automate transactions without intermediaries. The goal is to build an open finance system that can be accessed by anyone with an internet connection.

DECENTRALIZED ORGANIZATIONS (DAOS)

Decentralized Autonomous Organizations or DAOs are organizations that are governed by smart contracts and often employ a governance token to give participants voting rights. DAOs operate with a level of transparency, accountability, and direct involvement from their members that traditional organizations struggle to match. They hold the promise of democratizing operations and decision-making processes.

REGULATION AND LEGAL ASPECTS

The emergence of cryptocurrency has spurred regulators worldwide to develop laws and frameworks to adapt to the innovation of digital assets. The goals are to ensure stability, protect consumers, and prevent illegal activities, while striving not to stifle the growth of this nascent technology.

REGULATORY ENVIRONMENT FOR CRYPTOCURRENCY

Regulatory responses to cryptocurrencies vary significantly across different jurisdictions. They aim to address the risks while recognizing the potential benefits of blockchain technology. Governments tend to focus on ensuring that cryptocurrency operations are in line with existing financial laws and regulations to maintain market integrity and consumer protection.

In the United States, cryptocurrencies are mostly regulated by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The SEC treats them as securities, while the CFTC treats them as commodities. The Internal Revenue Service (IRS) sees cryptocurrencies as property for tax reasons.

Cryptocurrency and Terminology: Understanding the Basics

Globally, rules for cryptocurrency vary a lot. For example, Japan accepts Bitcoin as official money, while China completely forbids cryptocurrency transactions. Organizations like the Financial Action Task Force (FATF) are trying to create unified rules to keep the financial system stable and prevent financial crimes without making things too hard for the industry.

KNOW YOUR CUSTOMER (KYC) AND ANTI-MONEY LAUNDERING (AML)

KYC and AML regulations are pivotal to the cryptocurrency regulatory landscape. The primary goal is to prevent money laundering and terrorist financing by ensuring that service providers identify and verify their customers. Compliance with these regulations helps promote transparency and trust in the cryptocurrency market.

  • KYC: Involves collecting and verifying personal information from customers before they can engage in cryptocurrency transactions.
  • AML: Includes monitoring and reporting of suspicious activity to authorities.

Cryptocurrency exchanges and wallets must have strong KYC procedures to follow AML regulations. Not following these rules can lead to big fines and penalties. KYC helps exchanges link people to transactions, preventing digital currencies from being anonymous. This way, the operations follow regular financial rules and compliance standards.

As governments monitor cryptocurrencies closely, companies in this industry must comply with intricate laws and regulations to operate lawfully. These endeavors enable them to engage with the conventional financial system and prevent digital assets from being misused, all while upholding the core principles of blockchain technology: decentralization and user control.

FREQUENTLY ASKED QUESTIONS

Cryptocurrency is a complex and nuanced field, full of specialized terms and concepts. This section aims to demystify some of the most commonly queried aspects of the digital currency world through a series of frequently asked questions.

WHAT IS A BLOCKCHAIN AND HOW IS IT INTEGRAL TO CRYPTOCURRENCIES?

Blockchain stands as the fundamental technology underpinning the majority of cryptocurrencies. It operates akin to a digital ledger, registering transactions across multiple computers. Once a record is established, it remains immutable without altering all subsequent records.

CAN YOU EXPLAIN THE CONCEPT OF ‘MINING’ IN THE CRYPTOCURRENCY CONTEXT?

Mining in cryptocurrency involves the rewarding task of validating and adding transactions to the blockchain. Miners enthusiastically tackle complex puzzles to add a new block to the chain and are duly rewarded with newly created cryptocurrency.

WHAT DOES THE TERM ‘ICO’ STAND FOR, AND WHAT DOES IT INVOLVE?

ICO stands for Initial Coin Offering. It is a fundraising mechanism where new projects sell their underlying crypto tokens in exchange for bitcoin or ether. It’s akin to an IPO in the traditional stock market, with ICOs enabling investors to support new initiatives in their early stages.

HOW DO ‘WALLETS’ FUNCTION IN MANAGING CRYPTOCURRENCY ASSETS?

Wallets are digital solutions for storing, sending, and receiving cryptocurrencies. They can be software installed on a computer or smartphone, and hardware devices for offline storage.

WHAT IS THE SIGNIFICANCE OF ‘DECENTRALIZATION’ IN CRYPTOCURRENCY?

Decentralization in the context of cryptocurrency means that there is no central authority or entity that controls the network. This provides several advantages like reduced risk of censorship, increased security, and resistance to fraudulent activities or corruption.

COULD YOU OUTLINE THE PRIMARY DIFFERENCES BETWEEN ‘ALTCOINS’ AND ‘TOKENS’?

Altcoins are like alternative versions of Bitcoin. They claim to have different advantages. Tokens work on existing blockchains, representing assets or enabling smart contracts. These alternative cryptocurrencies, or altcoins, have become popular as they try to solve problems with Bitcoin. Some aim to make transactions faster, reduce fees, or improve privacy. Many altcoins also focus on new technologies like better agreement methods and ways to grow. Overall, altcoins offer a lot of choices for people interested in cryptocurrency.

Tim Moseley

HOME

Solana SOL Emerges as Top Choice for Investors Toppling BNB and Ethereum

Leave a comment

Solana (SOL) Emerges as Top Choice for Investors, Toppling BNB and Ethereum

By Newton Gitonga – March 22, 2024

Solana has emerged as the top choice for investors, surpassing top assets like BNB and Ethereum in terms of global investor interest.

According to a Wednesday report by Coingecko, Solana, currently the fifth largest cryptocurrency by market capitalization accounted for 49.3% of global investor interest in blockchain ecosystems, while Ethereum followed closely behind with 12.7%.

The growth of Solana’s popularity can be attributed to several factors, including the development of ecosystem projects like Pyth Network (PYTH) and the popularity of meme tokens such as SLERF and ‘Dogwifhat’ (WIF). Additionally, Solana’s high trading volumes and low transaction fees have made it an attractive option for investors.

On the other hand, Ethereum maintained its position as a leader in the L2 protocols segment, with second-layer networks built on Ethereum gaining increasing popularity among investors.

“This is likely because Ethereum is already well-established as an ecosystem and familiar to investors, such that it is no longer considered a new, trending crypto narrative. At the same time, attention towards the Ethereum ecosystem is increasingly dispersed across the layer 2 ecosystems building on top of it,” Coingecko wrote.

Arbitrum and Base emerged as the most popular second-layer network ecosystems, with 3.3% and 3.2% of investor interest, respectively.

Other L1 ecosystems, such as Cosmos, Avalanche, and Sui, also gained traction among investors. According to Coingecko, Cosmos’ success can be attributed to successful airdrops like Celestia and Dymension, while Avalanche’s meme tokens like Coq Inu have contributed to its popularity. Sui, on the other hand, lept ahead of TON in terms of investor interest despite TON’s connection with the Telegram messenger.

The report also highlighted the growing interest in L2 networks, with Arbitrum, Polygon, zkSync, and Metis attracting notable attention. Optimism, Blast, and StarkNet are among the top 20 L2 networks.

Notably, Ethereum’s recent Dencun hard fork, which activated on the mainnet on March 13, significantly impacted L2 networks. The update reduced commissions in L2 networks based on Ethereum, leading to a significant increase in the daily volume of transactions on Base, one of the projects that benefited the most from Dencun.

That said, Solana’s emergence as the top choice for investors comes amidst a notable price surge for the crypto asset. Notably, the asset recently tapped $200 and is up over 100% year to date, making it one of the best-performing cryptocurrencies in recent months.

Despite witnessing a brief pullback that saw it plunge to $164 earlier this week, Solana bulls managed to push the price back up, with optimism of a further price surge growing.

At press time, SOL traded at $170.92, reflecting a 9.40% drop in the past 24 hours.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Newton Gitonga and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

HOME

Gold price gains against the Swiss franc highlight its potential when the Fed starts cutting rate

Leave a comment

Gold price gains against the Swiss franc highlight its potential when the Fed starts cutting rate

Gold price gains against the Swiss franc highlight its potential when the Fed starts cutting rates teaser image

The Federal Reserve’s signal that it still sees the potential for three rate cuts this year, even as inflation remains above its 2% target, has helped propel gold prices to new record highs.

However, some analysts have said that the gold’s true light will shine when the central bank actually embarks on its easing cycle. Some analysts have said that gold’s reaction to the Swiss National Bank’s move to ease is an indication of what to expect.

Thursday, Switzerland’s Swiss National Bank surprised markets with a 25 basis point cut, bringing interest rates to 1.5%. The SNB is the first major central bank to cut interest rates.

The central bank said it eased its monetary policy as inflation is expected to remain below its 2% target this year.

“For some months now, inflation has been back below 2% and thus in the range the SNB equates with price stability. According to the new forecast, inflation is also likely to remain in this range over the next few years,” the bank said in its monetary policy statement.

The central bank also reduced its annual inflation forecasts. It now sees average inflation reaching 1.4% this year, down from its December estimate of 1.9%. Inflation is expected to slow even further next year, rising 1.2%, down from the previous 1.6% estimate. In its first look at 2026, the SNB projects average inflation at 1.1%.

Economists from Capital Economics said that they expect the SNB will continue to lower interest rates this year as inflation pressures remain weak.

“As it happens, we think inflation is actually likely to be lower than the SNB is forecasting, and so we expect it to cut rates again in September and December, taking the policy rate to 1.0%, where we expect it to stay throughout 2024,” the economists said in a note.

The SNB’s interest rate cut has had a solid impact on the gold market. Gold prices have pushed significantly higher against the Swiss franc Thursday.

Holding near session highs, spot gold last traded at CHF55,352.36, up +2.06%.

Although some analysts have described the SNB’s move as a surprise, it is not unexpected for others. March Chandler, managing director at Bannockburn Global Forex, said that he has been warning investors that cuts were coming.

“Rate cuts from the Fed are coming, so the SNB has to beat them to it too because they need to give their currency some cushion against weakness in the U.S. dollar,” he said.

While it's not exactly an “apples to apples” comparison, some analysts have said that gold price action against the dollar when the Fed cuts could be similar to what has been seen against the Swiss franc.

Chandler said that the biggest difference is that he expects gold’s rally to lead what appears to be a likely cut in June. He added that he expects bond yields and the U.S. dollar to weaken ahead of the Fed’s June meeting, which will support higher gold prices.

Phillip Streible, chief market strategist at Blue Line Futures, said that gold’s move against the Swiss franc highlights broader market conditions. He pointed out that the weakness in the Swissy helped propel the broader U.S. dollar index to a one-month high, which has hurt gold.

Despite hitting all-time highs overnight above $2,220 an ounce, gold is ending the day in the red against the greenback. Spot gold last traded at $2,183.14 an ounce, down 0.13 on the day.

However, Streible said that gold still has plenty of room to run when it’s the Fed’s turn to cut rates.

“Research we have looked at says since the 1990s, gold has rallied 6% in the first 30 days after the Federal Reserve’s first rate cut in an easing cycle,” he said.

Kitco Media

Neils Christensen

Time to Buy Gold and Silver

Tim Moseley

HOME

BitMEX’s Arthur Hayes Predicts Bitcoin Will Hit 1000000 In This Bull Market Cycle

Leave a comment

BitMEX’s Arthur Hayes Predicts Bitcoin Will Hit $1,000,000 In This Bull Market Cycle

By Newton Gitonga – March 21, 2024

Arthur Hayes, the co-founder of BitMEX, has made a bold prediction regarding Bitcoin’s future price trajectory, suggesting that the top crypto asset could hit $1 million during this ongoing bull market.

During an interview with popular crypto podcaster Anthony Pompliano this week, Hayes expressed confidence in Bitcoin’s long-term prospects, stating, “I think that bitcoin will go to $1 million by the end of this cycle.”

Hayes’ optimism stems from the increasing mainstream adoption of Bitcoin, as evidenced by the ease with which investors can now purchase Bitcoin ETFs with a click of a button. He further expressed belief that the current bull market is still in its nascent stages, fueled by global economic uncertainty and the resulting desire for a hedge against inflation.

“I don’t not think people have big enough imaginations right now [Bitcoin] went so fast as $70,000. Why did it go so fast as $70,000 because a bunch of people now can like click a but check a box and buy some Bitcoin ETF… this bull market is just getting started,” he added.

Notably, Hayes’ prediction aligns with those of Cathie Wood, the CEO of ARK Invest, who recently announced that Bitcoin could reach the $1 million mark before 2030. Wood’s optimism stems from her conviction in Bitcoin’s potential and ability to reshape the global financial landscape.

Moreover, Samson Mow, the Chief Strategy Officer at Blockstream, recently voiced Bitcoin’s future trajectory, saying that it could hit $1 million this year amidst unprecedented demand. Mow’s outlook underscored the increasing demand for Bitcoin as a store of value and hedge against inflation, particularly in the face of economic uncertainty and monetary stimulus measures.

That said, Hayes’ prediction comes amidst heightened volatility and fervent speculation surrounding Bitcoin. After experiencing significant price surges in the past few months and printing a new all-time high of $73,750 earlier this month, Bitcoin is facing a price recoil, mainly attributed to profit-taking, raising questions as to how low it could dip.

Pompliano, however, weighed in on the cryptocurrency’s recent drawdown during an interview with Bloomberg on Wednesday, highlighting Bitcoin’s resilience in the face of recent pullbacks, emphasizing the cryptocurrency’s historical context and long-term growth potential.

“This is actually a very small drawdown in a bull market,” Pompliano stated, comparing the current market correction to previous cycles experienced by Bitcoin.

“I think one of the lessons of Bitcoin over the last 3 four years is no one knows what the future is going to be and we’ve even violated some of those historical rules that people held…we had never seen Bitcoin hit an all-time high before the having both of those rules got broken and so I think we’re in Uncharted territory,” added Pompliano.

Bitcoin traded at $65,000 at press time, reflecting a 0.38% surge over the past 24 hours

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Newton Gitonga and posted on Zycrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

HOME

Gold price rallies after FOMC statement deemed not too hawkish

Leave a comment

Gold price rallies after FOMC statement deemed not too hawkish

Gold and silver prices are higher and neare daily highs in U.S. trading Wednesday, following a Federal Reserve monetary policy statement that the precious metals bulls saw as price-friendly. April gold was last up $13.30 at $2,173.10. May silver was last up $0.29 at $25.425.

The just-concluded Federal Open Market Committee (FOMC) monetary policy meeting saw the Federal Reserve keep its monetary policy unchanged, as expected. The key Fed Funds interest rate range was kept steady at 5.25% to 5.50%. The FOMC statement seemingly walked a neutral line on policy: not too hawkish and not too dovish. The statement said the U.S. economy is growing and inflation has eased but is still elevated. The statement said no rate cuts will occur until the Fed has more confidence inflation has been tamed. Still, the statement said the Fed sees three interest rat cuts this year. Judging by the reaction of the gold market, traders deemed the FOMC statement as not being too hawkish, and that the Fed appears willing to tolerate slightly higher inflation for longer. Now the marketplace awaits the afternoon press conference from Fed Chairman Jerome Powell. Traders will closely scrutinize Powell’s remarks for clues on the future path and timing of Fed monetary policy.

The key outside markets today see the U.S. dollar index weaker after being higher before the FOMC statement. The USDX had seen a solid rebound from the March low and the bulls have the technical advantage. Nymex crude oil prices are solidly lower and trading around $81.50 a barrel. The yield on the benchmark 10-year U.S. Treasury note is presently fetching around 4.3%.

The Bank of England holds its regular monetary policy meeting Thursday.

Technically, April gold futures bulls have the solid overall near-term technical advantage. A four-week-old uptrend is in place on the daily bar chart. A bullish pennant pattern has formed on the daily bar chart, but needs to see an upside breakout very soon to complete the formation. Bulls’ next upside price objective is to produce a close above solid resistance at the contract high of $2,203.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $2,100.00. First resistance is seen at $2,180.00 and then at $2,190.00. First support is seen at this week’s low of $2,149.20 and then at $2.140.00. Wyckoff's Market Rating: 8.0.

May silver futures bulls have the firm overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at the December high of $26.575. The next downside price objective for the bears is closing prices below solid support at $24.00. First resistance is seen at last week’s high of $25.66 and then at $26.00. Next support is seen at $25.00 and then at $24.50. Wyckoff's Market Rating: 7.0.

May N.Y. copper closed down 20 points at 407.25 cents today. Prices closed nearer the session high. The copper bulls have the solid overall near-term technical advantage. Prices are in a steep five-week-old uptrend on the daily bar chart. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 425.00 cents. The next downside price objective for the bears is closing prices below solid technical support at 400.00 cents. First resistance is seen at today’s high of 408.95 cents and then at Tuesday’s high of 413.65 cents. First support is seen at today’s low of 402.70 cents and then at 400.00 cents. Wyckoff's Market Rating: 7.5.

Kitco Media

Jim Wyckoff

Time to Buy Gold and Silver

Tim Moseley

HOME

WarriorPlus Affiliate Marketing Guide for Beginners: Getting Started in 2024

Leave a comment

WarriorPlus Affiliate Marketing Guide for Beginners: Getting Started in 2024

Are you ready to dive into the world of affiliate marketing and carve out a profitable niche with WarriorPlus? If you're new to the platform or affiliate marketing in general, stress not—this step-by-step guide will walk you through the essentials of making money with WarriorPlus, from setting up your account to choosing offers that convert like crazy.

 

 

Introduction to WarriorPlus

WarriorPlus is a gold mine of high-converting offers that can help you earn a healthy commission as an affiliate. It's packed with thousands of products in various niches, allowing you to find something that resonates with your audience or aligns with your marketing strengths.

However, navigating WarriorPlus can be confusing at first glance. So let's break it down into manageable steps to get you started on the path to affiliate success!

Setting Up Your WarriorPlus Account

First things first, let's get you into the system. You can find WarriorPlus by typing "warriorplus.com" into your browser or simply searching for "WarriorPlus" on Google. Once on the main page, you might find the corporate jargon a bit dense. But no worries, we're here to look beyond that and focus on the real deal—making money.

Go straight to the "free sign up" button. You'll only need a username, a password, and an email address to create your free account. Make sure to use an email address you have access to since you'll need to confirm it to complete your registration. Simple, right?

Your WarriorPlus Dashboard Deep Dive

Upon logging in, you'll land on your dashboard, your affiliate marketing command center. You'll see sections for top products of the day, week, and month—these are your go-to’s for finding hot products.

Some products consistently rank high due to their irresistible offers and trustworthy vendors. These staples are a fantastic starting point, but it's essential to look at the product's stats like sales, conversion rate, visitor value, and particularly the refund rate.

Pro tip: Always opt for products with low refund rates. No one likes doing a bunch of promo work only to see commissions disappear because of high refund rates. It's all about finding that sweet spot where the product is appealing and the buyers are satisfied.

Finding and Promoting Offers

Now, onto one of the most crucial parts—finding good offers to promote. Navigate to the 'Affiliate' tab and hit 'Offers.' Here, you'll encounter a mammoth list of over 10,000 offers. Take the time to sift through these, focusing on the release date, conversions, visitor value, average sale, and refund rate.

 

 

Once you've eyed a potential winner with promising stats, requesting to promote it is your next move. Paste the product's name in the search bar, find it, and click 'Request.' You may need to provide a brief explanation of how you plan to market the product. For example, mention if you have a YouTube channel or blog where you'll feature the offer.

Getting Your Affiliate Link and Promoting It

After your promotion request is approved, you'll be able to grab your unique affiliate link. This link is crucial—it’s how your sales get tracked and how you make your bank. You'll find your approved offers and links in the 'Offers' section under 'Approved Only.' Just copy your link, and you're ready to start spreading the word and earning commissions!

Cashing Out on WarriorPlus

Earning is great, but withdrawal is where the rubber meets the road. Click your username on WarriorPlus, then head to the 'W+ Wallet.' Here you can set up your withdrawal method, either through PayPal or a bank transfer. Keep in mind there's a 30-day pending period for your sales to settle and ensure there are no refunds before you can withdraw your hard-earned cash.

Final Tips for New Affiliates

Let's wrap this up with some power tips to set you on the right path:

  • Choose Actively Converting Products: Stick to products that are currently selling well. It means the vendor knows the sales game and has a page that's convincing to buyers.
  • Low Refund Rates are King: High earnings don't mean much if they're just going to be returned. Aim for offers that keep their promises to consumers.
  • Patience is Profitable: Don’t get discouraged if everything doesn't come together overnight. Focus on what's working and scale it up.

Starting your affiliate marketing journey with WarriorPlus can be a lucrative path if done right. With the insights from this step-by-step guide, you're now equipped to navigate WarriorPlus like a pro and start earning those commissions.

Curious for more ways to expand your affiliate marketing skills? Keep an eye out for more tutorials and don't hesitate to apply what you’ve learned today. Here’s to your success, and see you in the next guide!

 

Remember, consistency is key. Match the casual and upbeat tone of the original video content, stay clear of overly complex words, and keep it descriptive and helpful. Happy blogging!

 

Tim Moseley

HOME

538 Million In Crypto Longs Liquidated Amid Market Blood Bath Is The Bull Run Officially Over?

Leave a comment

$538 Million In Crypto Longs Liquidated Amid Market Blood Bath — Is The Bull Run Officially Over?

By Brenda Ngari – March 19, 2024

Crypto’s upward march in recent weeks hit a bump in the road, with Bitcoin, Ethereum, and other major cryptocurrencies suffering a sudden, brutal crash.

Crypto’s latest bloodbath, plunging Bitcoin to sub-$63,000, has led to a colossal $538 million worth of crypto position liquidations within the last 24 hours. Given the severity of the pullback, investors and analysts wonder if this signals the end of the recent crypto bull rally.

Bitcoin Volatility Causes Spike In Long Liquidations

The Bitcoin and wider crypto market has been turbo-charged by the launch of a slew of spot BTC exchange-traded funds (ETFs) on Wall Street in January. The new investment vehicles have attracted billions of dollars since their debut, effectively becoming the fastest-growing ETFs in history.

However, the crypto boom quickly turned to gloom as cryptocurrencies nose-dived. The global crypto market cap has shed 7.1% since yesterday, having briefly fallen below $2.5 trillion.

Just last week, the bellwether crypto set a new lifetime high of $73,737.94. At the time of publication, Bitcoin is trading for $62,797, down 7.9% over the last 24 hours, per data from CoinGecko. So far, the OG crypto has not found a reliable floor. Trader Ali Martinez has examined ground below the $60,000 level, noting, “Some of the key Bitcoin support levels to watch are $61,100, $56,685, and $51,530.”

“On the other hand, critical resistance points for $BTC stand at $66,990 and $72,880.”

Of the $663.17 million in liquidated crypto positions over the past day, just over $538 million were long positions, according to data compiled by CoinGlass. Over 246,087 traders were liquidated over the past 24 hours.

Liquidations happen when a crypto exchange forcefully closes a trader’s leveraged position because of a partial or total loss of the trader’s initial margin or collateral. They happen due to a lack of funds to cover losses. Of the total liquidations in the past 24 hours, Bitcoin experienced roughly $190.91 million in liquidations, of which $147.78 million were long positions.

Altcoins Bleed Out

The price of ether (ETH), the industry’s second-largest crypto, has fared even worse than Bitcoin. ETH recently changed hands at $3,246.11. That’s a 9.9% decline since yesterday and 18.9% lower than it was this time last week when the crypto community was preparing for the implementation of the Dencun upgrade on the mainnet.

In the meantime, meme coins, which saw unprecedented rallies a few weeks ago, have incurred even deeper losses amid crypto-wide retracement.

Solana-based meme coins Dogwifhat (WIF) and Bonk (BONK) have slipped 22.8% and 15.5%, respectively, in the last 24 hours. And Floki Inu (FLOKI), one of the Ethereum-based doggy-themed meme coin rivals, has dropped 18.5% on the day.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

HOME

Gold price forecast looks bearish dragged by fundamental risks technical indicators – FX Leaders’ But

Leave a comment

Gold price forecast looks bearish, dragged by fundamental risks, technical indicators – FX Leaders’ But

 Gold prices look set to continue their recent retracement as the technical and fundamental picture worsens, according to Arslan Butt, Lead Commodities and Indices Analyst at FX Leaders.

Butt said the near-term price forecast for spot gold looks weak as the precious metal is seeing its third consecutive down day, hitting a one-week low of $2,050 per ounce during Monday’s Asian trading session.

“This decline is attributed to the robust inflation figures emanating from the United States last week, which have fueled expectations that the Federal Reserve will maintain a stance of prolonged high-interest rates,” he wrote. “Consequently, this scenario has bolstered US Treasury bond yields, providing a boost to the US Dollar (USD) and placing pressure on non-yielding gold.”

Despite this, Butt said the market is still anticipating rate cuts from the Federal Reserve as early as June.

“This expectation, combined with ongoing geopolitical tensions, is anticipated to provide a floor to gold’s value, preventing further significant losses,” he said, but cautioned that investors “are likely to remain on the sidelines, awaiting additional indicators of the Fed’s interest rate trajectory” which they hope to glean from Wednesday’s FOMC meeting.

Butt pointed out that U.S. inflation data is having a sizable impact on gold’s price dynamics, “which could adversely affect the appeal of gold.”

“Reports from the University of Michigan’s preliminary survey indicated minimal change in both one-year and five-year inflation expectations in March, while the US Consumer Sentiment Index dipped to 76.5,” he noted. “The CME Group’s FedWatch Tool suggests a 60% probability of an interest rate reduction at the June policy meeting, tempering USD bullishness.”

He said that ongoing geopolitical tensions, “particularly the continued Russia-Ukraine conflict and unrest in the Middle East,” are also expected to support the value of gold as a safe-haven asset.

“Recent escalations include intensified Ukrainian drone attacks on Russian oil facilities and Israeli Prime Minister Benjamin Netanyahu’s confirmation of plans to advance into Gaza’s Rafah region,” he said. “These developments contribute to a climate of uncertainty, bolstering the gold case.”

Turning to the technical picture, Butt noted the formation of a descending triangle breakout pattern on the 4-hour chart.

“Gold’s (XAU/USD) price dipped to $2147.07, marking a 0.36% decrease, as it teeters below its pivotal $2157.22 pivot point,” he wrote. “The asset’s breach of the descending triangle pattern close to the $2157 level highlights this movement as being bearish.”

“Immediate resistance lies ahead at $2173.06, with further obstacles at $2189.33 and $2204.58,” he added. “Conversely, support levels are identified at $2139.00, $2124.63, and $2109.75, which could act as potential rebound zones.”

Butt said that a number of technical indicators, including a Relative Strength Index (RSI) reading of 36 and the 50-day Exponential Moving Average (EMA) positioned at $2150.84, support a bearish outlook.

“The violation of the descending triangle pattern suggests imminent selling pressures, potentially driving the price towards the $2139.00 support level,” he said.

“Overall, gold exhibits a bearish trend below the $2150 mark, with any upward movement past this threshold signalling a shift towards bullish momentum.”

Kitco Media

Ernest Hoffman

Time to Buy Gold and Silver

Tim Moseley

HOME

Standard Chartered’s Bold Forecast: Bitcoin To Rise To 150000 This Year

Leave a comment

Standard Chartered’s Bold Forecast: Bitcoin To Rise To $150,000 This Year

By Brenda Ngari – March 18, 2024

British multinational bank Standard Chartered has upped its Bitcoin price prediction target for end-2024 to $150,000 from the previous estimate of $100,000.

BTC To Hit $150,000 By End-2024

Standard Chartered has projected that by the end of this year, the benchmark crypto Bitcoin may succeed in hitting the $150,000 threshold, up from the previous $100K.

Standard Chartered analysts said last year that Bitcoin could reach $100K in 2024. By July, they had revised their forecast to predict a $120,000 price tag for the same timeframe.

The bank based its analysis for the new $150,000 target on the comparison with the price of gold after U.S. gold exchange-traded funds launched and the correlation between ETF inflows and the price of Bitcoin.

“For 2024, given the sharper-than-expected price gains year-to-date, we now see potential for the BTC price to reach the $150,000 level by year-end, up from our previous estimate of $100,000,” Standard Chartered Bank analysts led by Geoffrey Kendrick said in a March 18 report.

When gold ETFs hit the market, the price of the precious metal surged as new investors gained access to the market. Although gold prices climbed gradually as investors invested money into the ETF product, Standard Chartered contends that the BTC market “will mature much faster.”

The U.S. Securities and Exchange Commission (SEC) approved 11 spot Bitcoin exchange-traded funds (ETFs) in mid-January after a decade of denials. The BTC investment vehicles then began trading the next day, and have since seen blockbuster success.

As for higher peaks, the bank’s analysts “see a good chance of an overshoot to the $250,000 level at some stage in 2025” if BTC ETF inflows hit their mid-point estimate of $75 billion and/or if forex reserve managers begin purchasing Bitcoin.

“We think the gold analogy — in terms of both ETF impact and the optimal portfolio mix — remains a good starting point for estimating the ‘correct’ BTC price level medium-term,” the report explained.

Is Spot Ether ETF Approval On The Cards?

Standard Chartered also suggested that the SEC could give the approval stamp to spot ether (ETH) ETF later this spring, which will lead to inflows of $45 billion in the first year and ETH smashing the $8,000 level by the end of the year.

Ether is currently priced at $3,508.55 after dropping 3.5% over the past 24 hours, according to CoinGecko data. The second-largest crypto hit an all-time high of $4,878 in November 2021.

Notably, Standard Chartered analysts also think the price of ETH will reach $14,000 in 2025 as Bitcoin soars to $250,000.

That being said, there is little chance of spot ETH ETFs being greenlighted this year, as the Securities and Exchange Commission faces heightened political pressure not to allow ETFs for other crypto assets beyond Bitcoin.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on Zycrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

HOME

Binance CEO Predicts Bitcoin Rally Past 80000 As Investments In Crypto ETFs Surge

Leave a comment

Binance CEO Predicts Bitcoin Rally Past $80,000 As Investments In Crypto ETFs Surge

By Newton Gitonga – March 17, 2024

Binance CEO Richard Teng has shared his bullish stance on Bitcoin, predicting that the cryptocurrency will soar above $80,000, driven by increasing institutional investments in crypto-backed exchange-traded funds (ETFs).

Speaking at an event in Bangkok on Sunday, the former regulator noted that the launch of spot Bitcoin ETFs in the US earlier this year has already started to attract institutional investors and new fund flows, adding, “We’re just getting started.”

Teng further revealed he expects Bitcoin to soar above $80,000 before the end of the year as crypto demand continues to soar and supply reduces. He, however, emphasized that the rally won’t be a “straight line” and the market will experience ups and downs, which is good for the market.

The pundit’s prediction of Bitcoin is not new. Earlier last month, Teng surveyed his followers on Bitcoin’s potential value by the end of 2024, offering options of $40,000, $80,000, and $120,000. Interestingly, the survey results favoured a bullish expectation of $120,000.

In a tweet on Sunday, the CEO further hinted at his bullish stance for BTC when asked about the significance of the number 3 to him in the Thai community.

“Many good things in crypto have 3 syllables – BTC, BNB, ATH, To The Moon… Now you know.” He wrote.

Notably, Bitcoin has experienced a remarkable price surge, catalyzed by the recent approval of several spot ETFs earlier this year. This surge propelled Bitcoin to achieve an all-time high of $73,750 last week. Moreover, the total daily crypto exchange volume on March 14 nearly reached $100 billion, marking the first instance since 2021.

The launch of Bitcoin ETFs in the US has also led to relentless inflows, with more endowments, and family offices are expected to step up allocations into Bitcoin ETFs in the near term. According to data from crypto BitMEX Research, ETF net inflows this week topped $2.565 billion, propelling the cumulative net inflows to a staggering $12 billion after 47 days of trading. According to experts like Willy Woo, this could be the tip of the iceberg.

Teng, who took over as CEO after co-founder Changpeng Zhao stepped down in November following the company’s $4.3 billion settlement with US authorities, has long advocated crypto adoption. In a recent interview, Teng noted that as more regulators spend time, energy, and resources to understand and formulate regulatory frameworks for crypto, it will instil further trust within the community and user base, leading to mass adoption.

Despite plunging since Thursday due to market participants’ profit-taking behaviour, Bitcoin demonstrated resilience on Sunday as it attempted to break minor resistance around $68,000.

The market is expected to continue fluctuating within its current range until the supply diminishes, potentially paving the way for a bullish breakout. The crypto asset traded at $67,108 at press time, reflecting a 1.10% drop over the past 24 hours.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Newton Gitonga and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

The Artist that came out of the Winter