According to an article in Cointelegraph, there are five signs that Bitcoin is about to enter a bull market phase and crash through its multi-year resistance at $10,500.

The Bitcoin price since the hal...ving in May has been seeing some sideways action, which Keith Wareing writes is reminiscent of early 2017, “when Bitcoin hit $1,180 for the second time, triggering a catastrophic sell-off.” It appeared that the leading cryptocurrency was dead, but instead “what happened after is the first sign that we were in for a bull market.”

The Trap

This is the first sign. Wareing explains “you can see that the pattern that played out after the 40% dump from $1,180 in January 2017 is almost identical to that of the 57% dump that occurred on March 12 2020.” What happened next in 2017 was a 2000% rise in the value of Bitcoin.

The Range

Sign two is “seeing a new descending channel opening up that has perfect Fibonacci levels lining up.”

The Orderbook

Wareing says, “there are significant sell-orders as denoted by the yellow line around the 50% fib at $9,450 and interestingly a lot of buy orders around $8,800.” He explains, “As the shorts pile in targeting $8,700, the spoofers can take a large long position, remove their $9,450 sell-wall and scoop up all those liquidations.”

...

https://medium.com/@lendoplatformltd/the-signs-of-a-bitcoin-bull-market-5651067289a3Show more >

Andreas Antonopoulos, a highly respected digital assets educator has identified a new way for those who are HODLing their BTC to make a passive income, Cointelegraph reports.

His solution lies in the u...se of decentralised finance (DeFi). “In a livestream Q&A on Antonopoulos’ YouTube channel on June 27, he said decentralized finance (DeFi) contracts were one way for Bitcoin (BTC) owners to generate passive income without relinquishing custody of their coins.”

In the video, Antonopoulos said that anyone holding BTC could convert them into ETH or a stablecoin, then lend those tokens to a platform where they can earn interest. However, he did add that there are some risks. He said: “Ethereum may have problems. It may have bugs. The consensus algorithm may have failures. You may have increases in the gas price, which leads to other cascade problems. And all of those things can cause you to lose some or all of your invested capital.”

He did mention other ways of making crypto holdings work for owners, but almost every method does involve relying on a custodial exchange, and these do carry the risk of theft or mismanagement.
However, HODLers do not earn dividends or interest on their investments until they finally decide to cash out, as he pointed out, and while BTC owners are always hoping the price will go up, it can also go down. Antonopoulos said the same was true for crypto day traders: “You can pull your Bitcoin out and convert it, buy 1,000 altcoins, and then watch them crash by 98%.”

Antonopoulos is not the only person in the crypto space to advocate the use of DeFi for a passive income. Cointelegraph reported in March that OKEx Director of Financial Markets Lennix Lai said: “The combination of cryptocurrency and DeFi creates an alternative way for users to earn passive interest that was not possible before.”

...

https://medium.com/@lendoplatformltd/how-to-make-a-passive-income-from-your-bitcoin-3cde30b6f027Show more >