When opening positions on the crypto market, you must follow a clear system. Experts explained how to find patterns when studying charts and what tools to use to analyze quotes

In cryptocurrency trading, you cannot rely on chance. To effectively open positions and generate income in the future, you need to have a clear strategy.

Trading with the trend

Asset quotes always move according to a trend, which can be upward or downward, says the popular streamer TradingView. According to him, a trader can open positions in the direction of the trend, that is, buy when the trend is up and sell when the trend is a downtrend.

Over the past day, the first cryptocurrency has fallen in price by 9%, the decline is taking place against the backdrop of negative news from China and a record inflow of bitcoins to exchanges

The bitcoin rate on the Binance crypto exchange dropped below $30 thousand for the first time since January this year. At the minimum, altcoin quotes fell to $29.2 thousand. Over the past day, it fell by 9%. The asset’s market capitalization has shrunk to $560 billion, according to CoinGecko.

Bitcoin set an all-time high of $64,800 on April 14. Over the past two months, the price of cryptocurrency has collapsed by 55%.

Amber Group has increased its capitalization 10 times in a year and a half, to $1 billion. The startup was invested by China Renaissance Group, Tiger Brokers, Gobi Partners, as well as Coinbase Global, and Pantera Capital

The crypto company Amber Group, founded in 2018 by former traders of the investment bank Morgan Stanley, has become a unicorn in a year and a half, its appraised value has increased tenfold, to $1 billion, Bloomberg reports.

When raising funds for the series, the company received investments from China Renaissance Group, Tiger Brokers, Gobi Partners, as well as Coinbase Global, and Pantera Capital.

Unicorn startups with a market value of over $1 billion

According to Peter Hasekamp, director of the Dutch Bureau of Economic Analysis, the main cryptocurrency cannot be used as a means of payment and savings.

The Dutch authorities should completely ban the mining, storage, and trading of bitcoins, said Peter Hasekamp, director of the Dutch Bureau of Economic Analysis under the Ministry of Economy and Climate Policy. In his opinion, the main cryptocurrency cannot be used as a unit of account, means of payment, and store of value.

The Netherlands is now lagging behind other countries in its position to curb the rise in popularity of cryptocurrencies, Hasekamp said. As an example, the official cited China, where they recently called for tough regulation of the circulation of digital assets.

The US authorities were able to return almost all the ransom that the Colonial Pipeline paid to the hacker group DarkSide

The authorities confiscated the ransom

The US authorities said they were able to recover 63.7 bitcoins from 75 coins paid to hackers by the Colonial Pipeline last month. At the current MTC exchange rate, this amount exceeds $2 million.

FBI Deputy Director Paul Abbeit said at a Justice Department briefing that law enforcement found the ransom’s virtual wallet and then returned the funds. He said that investigators have found more than 90 companies that have become victims of the hacker DarkSide, accused of attacking the pipeline.

“Darkside and its subsidiaries have been pursuing American companies in the digital space for almost an entire year,” said Deputy Attorney General Lisa Monaco.

Long-term investors continue to move coins even despite another Bitcoin drawdown below the $33,000 level

Long-term investors (LTH) continue to accumulate bitcoin, which often occurs during times of market uncertainty. This is the conclusion reached by analysts at Glassnode. According to on-chain analysis, LTH now holds 10.9 million BTC, which is more than 58% of the coins in circulation.

The formed fractal more and more resembles the market of the end of 2017 — the beginning of 2018. Then LTH also stopped spending, initiating the accumulation of coins.

The last time hodlers accumulated Bitcoin was from May to September 2020. However, then they bought much fewer coins (+250,000 BTC per month). Moreover, today LTH owns 2.3 million BTC more (+ 8% of the circulating supply) than at the peak of 2017.

Benito Rupert

General introvert. Problem solver. Alcohol specialist. Future teen idol. Zombie fanatic. Pop culture expert. Cryptocurrency blogger on Taklimakan.Network.

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