Altcoin News by Thebittimes.Com

The Bitcoin price is trading in the green during the Asian session, near $20,534 after bouncing off the $20,265 support level. Similarly, Ethereum has increased by less than 0.50% to $1,594 and is on its way to the 78.6% Fibonacci retracement level. The worldwide crypto market cap gained over 0.50% to $1.01 trillion in the previous day, putting major cryptocurrencies in the green early on November 1. Over the last 24 hours, overall crypto market volume climbed 22% to $87.63 billion.  The overall volume in DeFi was $4.01 billion, accounting for 4.50% of the total 24-hour volume in the crypto market . The entire volume of stablecoins was $81.34 billion, accounting for 92% of the overall 24-hour volume of the crypto market . Overall, the market is trading risk-on ahead of the US Federal Reserve's monetary policy and rate decision later this week. Top Altcoin Gainers and Losers Chain (XCN), Dogecoin (DOGE), and Shiba Inu (SHIB) were the top performers in the last

Join Our Telegram channel to stay up to date on breaking news coverage The Dogecoin market continues to sustain its upside movement. And even now DOGE/USD price action stays poised for a more upward push. Dogecoin’s Forecast Statistics Data: Dogecoin price: is $0.1274 DOGEs market capitalization: $17.22 billion DOGE circulating supply:  132.67 billion Dogecoin’s overall supply: 132.67 billion DOGE Coinmarketcap ranking: #8 Important Value Levels: Top Level: $0.1274, $0.1300, $0.1330 Base Levels: $0.1260, $0.1240, $0.1220 Dogecoin Price Prediction Today, November 1, 2022: Price Action in DOGE/USD Continues to Pump DOGE/USD continues to show more upside optimism on the daily chart. At this point, price action has broken the 23.60 Fibonacci level, consequently, price action is getting ready to move further upwards. Also, price action is still far above the SMA which reveals that price uptrend is still on. Additionally, the Stochastic RSI lines have reached the highly bo

Source: Unsplash Venture capital investments in crypto companies hit its lowest level for the year in the third quarter, but still remains well above a 7-year average for the industry. According to data from Galaxy Digital, venture investments into the crypto space in the third quarter reached $5.5bn, still $2bn more than both the peak from 2021 and a 7-year average of crypto venture investments . “Despite the drawdown in broader VC investing, early-stage investing remains competitive and robust,” Galaxy wrote in a report on crypto venture capital. However, it also added that later-stage venture investing showed “notable weakness potentially due to the sustained bloated valuations.” Source: Galaxy Digital In terms of who attracted the most funding within the crypto industry, Galaxy pointed to startups founded in 2021 as the winners in the third quarter of this year. “The cohort led in deal count and came a close second in money invested,” the firm wrote. Moreover,

In the Livepeer market for the whole of October, the support and resistance moved horizontally at high proximity. This formed a narrow channel from which the price of the market could not break out. However, in today’s market, the price may be attempting to break out from the price channel so that the space between the support and resistance can widen again .    Livepeer Market Price Statistic: LPT/USD price now: $9.555 LPT/USD market cap: $ LPT/USD circulating supply:   LPT/USD total supply:  LPT/USD coin market ranking: # Key Levels Resistance: $10.000, $10.500, $11.000 Support: $9.000, $8.500, $8.000 Livepeer Market Price Analysis: The Indicators’ Point of View LPT became a bit stable in early October; we see from the Bollinger indicator how the upper and lower band moves together horizontally forming a horizontal channel. The price later crossed up above the indicator’s moving average on the 25th/26th of October. From this point, the bulls gather momentum and push

Sellers are dominating Ripple market Further increase in the bears’ pressure may break down the support level of $0.43, in which it may extend to $0.39 and $0.36 support levels. Should the Bulls interrupt the bears at $0.43 level, the resistance level of $0.45 may be penetrated, Ripple may increase to $0.47 and $0.50 levels. XRPUSD Price Analysis – October 23 Key Levels: Supply levels: $0.45, $0.47, $0.50 Demand levels: $0.43, $0.39, $0.36 XRP/USD Price Medium-term Trend: Bearish XRP/USD is bearish on the medium-term outlook. After the formation of a bearish chart pattern called double top, the coin obeyed the command by producing more daily bearish candles. The price decreased and tested $0.43 support level. It pulled back to retest $0.46 level. Sellers are exerting more pressure on the coin at the moment and there is tendency for further price decrease. At the moment, sellers are dominating the Ripple market as it is trading below the 9 periods EMA and 21 periods EMA. The Re

Join Our Telegram channel to stay up to date on breaking news coverage The Federal Open Market Committee (FOMC) meeting is scheduled for November 1-2. The market expects the Federal Reserve to raise interest rates for the fourth consecutive time by 75 basis points . The hawkish stance taken by the Fed this year has caused a plunge in crypto prices , and this week’s announcement could also trigger a bearish sentiment. Crypto consolidates as market ahead of FOMC meeting The core inflation readings in the US have remained higher, and the Fed believes that monetary tightening policies will ease these inflation levels. Most market analysts believe this week’s meeting will yield another 75 basis points hike in interest rates . The Fed has aggressively raised interest rates this year to tame inflation. Investors have been shying away from investing in risk assets such as cryptocurrencies. Bitcoin has dropped by nearly two-thirds since creating an all-time high of over $69,000 in

Source: AdobeStock / bennymarty Terror organizations are increasingly turning to cryptoassests to fund their activities, said United Nations (UN) officials. During the UN’s Counter-Terrorism Committee (CTC) meeting in India on Friday and Saturday, the officials discussed the "threats and opportunities related to new payment technologies and fundraising methods," including the use of these "new and emerging" technologies to fund terrorist activities.  One of the speakers was Svetlana Martynova, the Countering Financing of Terrorism Coordinator at the UN, who said that "prevalent methods" of financing terrorist organizations are still cash and hawala. The latter is a traditional money-transferring system, whereby the money doesn't move physically - it is paid to an agent who instructs an associate in a specific country or area to pay the final recipient. She added, "However, there is also an increase of their use in combination

Thanks to Elon Musk’s Twitter takeover deal, Dogecoin has more than doubled in value over the past week. The rising tide has managed to lift most other coins in the same boat. Dogelon Mars rallied by roughly 70% in the same timeframe, while Baby Doge Coin appreciated by around 15%. The tale was no different for Shiba Inu. The thirteenth largest crypto has inclined by more than 22% in the past seven days. The $6.75 billion market capped asset was trading at $0.0000123 at press time. Source: CMC Also Read – Shiba Inu: SHIB team provides update on the upcoming metaverse Per data from ITB, around 30% of SHIB HODLers are “in the money” or making money at the current price. The other 64% are still underwater, while remaining 6% are in a no-loss, no-profit [break even] position. Shiba Inu in/out of the money | Source: IntoTheBlock The numbers were somewhat the other way round for Dogecoin. As reported a day back, 62% of the DOGE holders were in profit from where they initially

Mercado Pago, the financial wallet division of Mercado Libre, the Latam e-tail giant, has announced the launch of cryptocurrency trading services in Mexico. The company has already launched this kind of service in Brazil, serving one million customers in the country, allowing them to purchase, store, and sell bitcoin and ethereum, and also to receive Mercado Libre’s own token, mercadocoin. Mercado Pago Debuts Crypto Purchases in Mexico Mercado Pago is aiming to grow in Mexico with the introduction of cryptocurrency services. The company, which serves as a wallet arm of Mercado Libre, announced on Sep. 27 that it has activated the possibility for customers to purchase crypto with national fiat currency in Mexico. In this way, every customer in Mexico is now able to purchase bitcoin and ether using funds available in Mercado Pago’s native wallet. In bringing this product to Mexico, the company seeks to provide more options to Mexicans that are already customers of the company. On t

The central bank of Thailand is not going to rush with the launch of its digital currency as it’s not yet sure about the benefits it would bring. According to the head of the monetary authority, the development of the state-issued coin may take several years. Thailand’s Central Bank Wants to Better Understand Risks of Central Bank Digital Currency The Bank of Thailand (BOT) intends to take more time to complete the development of its retail central bank digital currency (CBDC). The monetary policy regulator aims to ensure that this version of the national fiat will offer additional benefits to the country’s financial system under sufficient risk management. A number of central banks, including that of Thailand, have been developing retail CBDCs but they are yet to fully implement them, the Bangkok Post noted in a report. Retail CBDC development is expected to take more than five years before market launch, according to the BOT Governor Sethaput Suthiwartnarueput, quoted by the daily

Veteran trader Peter Brandt says the dogecoin bear market that began in May last year has ended. His comment came after the price of dogecoin soared following Tesla CEO Elon Musk’s acquisition of the social media platform Twitter. Peter Brandt on Dogecoin Outlook Veteran trader Peter Brandt shared his analysis of dogecoin (DOGE) Sunday. Brandt has been a futures and FX career trader since 1975. He is a chartist and the author of the Factor Report. He trades a variety of markets, including Dow futures, bonds, corn, crude oil, European wheat, Osaka Dow, U.S. dollar, and sugar. Tweeting a chart of DOGE, Brandt wrote: “This is called a bear channel, the upside violation of which has ended the bear market that began at the May 2021 high.” However, Brandt followed up with another tweet, warning traders not to fall for the common mistake of assuming that the end of a bear market automatically means a bull market has begun. He cautioned: A common mistake made by novice and wanna-be t

The sideways-ranging market lasted from late September to early October. The price began to move in a bullish direction on the 10th of October. By the 13th of October, the price of DYDX has reached the $1.500 price level , but strong selling pressure rejected the bullish market at the price level . But the bulls were also very strong and this battle resulted in price consolidation . A brief Price pullback followed this period of indecision on the 19th of October and it ended on the 21st of October when after the bulls have formed their support, they started the bullish trend that broke the difficult $1.500 price level   DYDX Market Price Statistic: DYDX/USD price now: $1.7803 DYDX/USD market cap: $226,384,207.10 SUSHI/USD circulating supply: 127,244,443 DYDX/USD total supply: 250,000,000 DYDX/USD coin market ranking: #129 Key Levels Resistance: $2.000, $2.500, $3.000 Support: $1.500, $1.000, $0.500 DYDX Market Price Analysis: The Indicators Point of View The Bollinger

The U.S. central bank’s key inflation gauge, the personal consumption expenditures (PCE) price index, increased by 0.5% in September, according to data released by the U.S. Commerce Department on Oct. 28. Meanwhile, markets expect with near-certainty that the Federal Reserve will codify its fourth consecutive rate hike by 75 basis points (bps) next month. While investors await the next bank rate increase, midterm elections start on Nov. 8 and reports say inflation is weighing heavily on the minds of most Americans. PCE Increases by 0.5% in September, Fed to Hike Rate by 75bps, Democrats Ignore Inflation Complaints On Friday, Oct. 28, 2022, the U.S. Commerce Department published the latest PCE data for September and data shows a 0.5% increase from the month prior and a rise of 5.1% during the past year. The PCE is considered the Fed’s preferred measure of inflation as it shows the measure of personal income and disposable personal income (DPI) metrics. “Personal income increased $78.9