The change in speed indicates the creation of new Bitcoin-BTC wallet addresses Blockchain, the top cryptocurrency by market capitalization, is likely to witness the start of a new bull market, according to data from cryptocurrency data tracking and analysis platform Glassnode. The platform also reported that the Simple Moving Average (SMA) line of new addresses on the 30-day time frame exceeded its counterpart measured on the 200-day time frame at the beginning of last November, despite the collapse of the FTX cryptocurrency exchange. at the beginning of the same month.
These data indicate that new investors of the currency are possible Bitcoin They used the fall in the price of this currency – against the background of the collapse of the FTX – to hunt for a profitable deal. Moreover, this data may reflect a shift in Bitcoin investors’ tendency – after the FTX collapse – to keep their coins in their personal portfolios and with their own knowledge rather than holding their digital currency on exchanges. Regardless of this trend, the 30-day SMA of Wallet New Addresses has crossed the 200-day SMA, indicating that Bitcoin is about to rally; The 30-day SMA of new addresses is usually higher than the 200-day SMA when bitcoin starts to anticipate an extended bull market.
Glassnode added: “The beginning of a bull market is often associated with an increase in the number of new users on a daily basis, an increase in the number of financial transactions completed on the blockchain, and an increase in the number of transactions in a single financial transaction block on the blockchain. Crypto financial data analysis firm Glassnode added: “30-day when the 🔴 simple moving average (SMA) of new addresses on the time frame 🔵 crosses the 365-day SMA 🔵, it indicates a near-term expansion in activity.” This situation often reflects the improvement of the fundamentals of the blockchain itself and the expansion and speed of its general use.
What is the future of Bitcoin-BTC?
It is likely that inflationary pressures in the United States, the world’s largest economy, will continue to decline rapidly as economic growth in the country slows, and therefore investors believe that the US Federal Reserve will not be able to keep interest rates high for long, meaning that 2023 will be very different from 2022. will be .
2023 could witness a significant improvement in Bitcoin’s performance, given the rise in cryptocurrency prices – after rebounding from extreme lows – and a less hawkish economic policy in the US. The increasing speed of opening new Bitcoin wallet addresses is not the only indicator of the imminent start of a bull market, as the Bitcoin price has exceeded both the 200-day moving average and the realized coin price (the price of a confirmed bitcoin refers to the value of all bitcoins purchased). with the price determined by dividing by the number of bitcoins in circulation at that time) each remained just below the $20,000 level, and both are very important psychological indicators.
Moreover, according to Glassnode data, the net unrealized profit and loss index (NUPL) has risen, indicating that the average number of bitcoin wallets – with unrealized profit – has increased recently (because they have not sold their money yet). shows.
Given that bitcoin (BTC) price has just broken out of its largest short-term overbought event since 2021 – based on the Relative Strength Index (RSI) reading on the 14-day time frame – the correction is likely to continue testing each level. The 200-day moving average and the currency’s achieved price level (just below $20,000). And if macroeconomic conditions remain favorable – as we have witnessed since the beginning of 2023 – and the price of Bitcoin achieves a sustained breach of the $21,500 resistance level, the price of this digital currency may soon test the next resistance level around $25,500. .
You should consider alternative currencies
Digital currency markets have performed well since the beginning of 2023, but these markets are still witnessing a long-term bearish cycle. Investors may be inclined to diversify their digital currency holdings by investing in discounted pre-sale offers for digital currencies with the launch of some promising and ambitious crypto projects. Here are some altcoin projects that Cryptonews.com analysts see as having great potential for success.
Fight Out (FGHT) is seeing a pre-sale of its currency
Crypto startups based on the move-to-win model seem very promising, but the temporary early success experience witnessed by this type of project like STEPN has prevented it from proving its worth in the market due to the aspects it involves. ; Promising a bright future for the move-to-win model, the Fight Out project seeks to change this reality in 2023.
The Fight Out project is a new web3-based fitness app – with a chain of gyms that rewards its users for training, winning competitions and competing in a virtual world (Metaverse) dedicated to fitness – the first of its kind.
While other for-profit movement apps such as STEPN only track users’ steps and require the purchase of expensive non-tradable tokens (NFTs) to subscribe to, the Fight Out project takes a holistic approach to track users’ movements and reward them for exercise and activity. does not require paying large sums of money for subscription; The Fight Out project seeks to connect the real world with the third web (web3) world, and the project aims to have gyms in most major cities around the world while promoting an integrated fitness experience based on the third web. (Web3).
Fight Out’s technical system includes a mobile app that will be launched in the second quarter of 2023, according to the project’s white paper. This app will use mobile technology and wearable technologies to measure and track physical performance. Number of users. The app also includes digital currency. It is used to reward users for completing M2E missions, and they can also create avatars that represent their characters and allow them to interact with the Fight Out virtual world.
FGHT is the main currency of the technical system on which the Fight Out virtual world is based. This currency is used to enter competitions and tournaments. Winners will be awarded with FGHT coins. This currency can also be used in peer-to-peer. fitness bets. .
The price of FGHT coin is now 60.06 coins per USDT coin, and interested investors should rush to buy FGHT coins after the initial sale of this currency generated about $3.05 million in just a few weeks, as FGHT is the main currency. Fight Out world Out technical system)) default.
Visit the Fight Out-FGHT website now
Project Calvaria-RIA is about to complete its sale
Project Calvaria is also witnessing a pre-sale of RIA coin, the primary currency for the non-fungile token (NFTs) card-based battle game Calvaria, a post-death fantasy-themed game. The play-to-earn (P2E) crypto-gaming project has raised nearly $3.0 million in just a few months since the start of its coin presale, with only 8% of coins left for sale.
Project Calvaria seeks to elevate the world of crypto gaming by tapping into the huge existing card game market that conjures up images of blockbuster games like Pokemon and Yu-Gi-Oh. According to an analysis by Markets and Markets platform, the crypto gaming sector is expected to reach $65.7 billion by 2027 – after the size of the sector was $4.6 billion in 2022. Therefore, this sector has great growth potential. Project Calvaria is scheduled to release its first fantasy card-based game, Duels of Eternity, in the second quarter of 2023.
Visit the Calvaria website
C+Charge-CCHG is witnessing a presale of its coin
The total value of the carbon credits sector is expected to reach $2.4 trillion by 2027, and fair access to the benefits offered by this sector will attract a large amount of investment in the coming years, which is what startup C+Charge is aiming for. C+Charge is building a blockchain-based peer-to-peer (P2P) payment system for electric vehicle (EV) charging stations that will allow EV drivers to earn carbon credits.
The Fight Out project seeks to promote the role of carbon credits as a key incentive for the purchase of electric vehicles (EVs). It is well known that major electric car manufacturers like Tesla make huge profits by selling carbon credits to companies that cause environmental pollution. Therefore, the C Plus Charge project seeks to achieve fairness in the carbon credit market by making these credits available. To be a monopoly of large companies instead of electric vehicle owners.
The project has just launched an initial sale of its CCHG coin, which EV owners will use to charge their electricity at charging stations on the C Plus Charge platform. % when the sale is completed. Advance.
Investors looking to get in early on the promising eco-friendly digital currency project should hurry to buy it, as the project has raised nearly $320,000 in the weeks since its initial sale, and investors should be aware of the possibility of remaining funds. currencies for sale will run out in the near future. Crypto whale recently bought over $99,000 worth of CCHG at one time and the purchase can be verified by logging into BscScan.
Visit the C+Charge website
Meta Masters Guild-MEMAG
The Meta Masters Guild project is a mobile game technology system based on Web3 technology. Earning and trading rewards and currencies; these games are currently in development as the project-based team intends to launch its first game, Meta. Karts, in the coming months.
The Meta Masters Guild project, which is considered as a promising crypto gaming project, is witnessing a pre-sale of MEMAG coin, which has generated a huge profit of $651,000 in just a few weeks, and MEMAG coin is now trading at a high price. $0.007 price per coin; Some observers believe that the purchase of these currencies represents a profitable investment opportunity, and it is likely that the price of this currency will rise to $0.023 by the seventh stage of the initial sale, which will allow the first investors to make more than 300 unrealized profits. % by the end of the presale.
Visit the Meta Masters Guild