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What is Fuelling the Rally in DigiByte Cryptocurrency?

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The DigiByte ecosystem is built with an emphasis on speed and security, which are often identified as limitations on different blockchains. DGB uses a proof of work algorithm to validate and complete a transaction.

With a strong price action witnessed on DGB, we can expect it to reach 10 cents valuations shortly. The current DGB price is facing some resistance from its 100 DMA that has coincided with the wicks on daily chart candles.

DigiByte Price Analysis

One day chart with Support Levels, Resistance, Moving Average, and MACD indicator

DigiByte has an active support range at $0.0500 levels on the immediate downside and resistance at $0.0791 levels. In order to remain in trend there needs to be some profit booking or consolidation, straight-line upside momentum often carries the risk of sudden profit booking induced by some new development.

DGB is for now trading in a bullish zone with immense buying interest. The MACD indicator shows chances of the rally to continue without consolidating but, DGB should halt its rate of progression in between to continue with the upside movement. Its 100 DMA comes out at around $0.06252 levels.

One hour chart with Support Levels, Bollinger, and MACD indicator

DGB shows an immense increase in volumes over the last few hours indicating increased participation from buyers and sellers of this cryptocurrency. As MACD is nose-diving towards the red zone we expect some retracement from current levels and a second attempt at breaking the recent high created at $0.066 levels based on our DigiByte forecast.

Support on hourly charts comes out to be at $0.0579 with Bollinger Bands hitting newfound volatility. The widening of Bollinger bands indicates scope for higher volatility and continuation of the upside movement. For now, DGB seems to have taken support from the lower end of the mean average line and faces some turbulence at the mean average line indicated by red.

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What is Bitcoin? Detailed information about virtual currency Bitcoin

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bitcoin what is this

What is Bitcoin? What is the real value of Bitcoin in the market? This article will help you get the correct answer, and detail all the important information related to the largest cryptocurrency today.

What is Bitcoin? Bitcoin since when?

Bitcoin (abbreviated as BTC) is known as a decentralized digital currency – a form of finance based on blockchain technology and does not depend on intermediaries. Bitcoin is encrypted in the form of an open source code used for direct exchange by Internet-connected devices, peer-to-peer (P2P) transactions in all transactions.

Peer-to-peer transaction means that the buying / selling takes place directly between the sender and the receiver with almost zero fees, in the process without any organization or individual participating in the role. intermediate.

bitcoin what is this

Currently, Bitcoin is the first currency in the list of large-cap cryptocurrencies in the market. Bitcoin’s store of value and growth rate in recent years has increased exponentially, attracting the attention and interest of many large institutions, even Wall Street. The trading volume with a price of more than 42,000 USD / 1 BTC per day is still a huge number, proving that investors love and expect it.

In addition, the scarcity of Bitcoin and the difficulty of mining further increase the value of the largest cryptocurrency in the world today.

History of Bitcoin

Bitcoin is the world’s first cryptocurrency, becoming the foundation for the development of the current Crypto market. According to information from Wikipedia:

  • In 2007 the official Bitcoin currency was born, designed by Satoshi Nakamoto, he believes that it is possible to create a transaction system where the participants do not need to trust each other.
  • In 2008, the domain name Bitcoin.org was registered and first mentioned on August 31, 2008 in Satoshi’s peer-to-peer payment method prospectus.
    On January 3, 2009, Bitcoin went live with the first Bitcoin block called Genesis Block.
  • The first transaction was made between Satoshi and cryptographer Hal Finney on January 12, 2009 in the amount of 10 BTC right at the time the Bitcoin software was released, marking the birth of the non-existent cryptocurrency. under the control and influence of the government or central bank of any country.
  • On October 22, 2010, Bitcoin was used to buy goods for the first time – 2 pizzas for 10000 Bitcoins (equivalent to $25 at that time).
  • In 2013, major services like Foodler, Reddit, OKCupid, Humble Bundle, Baidu and Gyft started using Bitcoin as payment currency. The first Bitcoin ATM appeared in Canada.
  • In December 2013, the first Bitcoin trading agent named Bitcoin VietNam appeared in our country. This unit deals directly with partners in Singapore, USA, … and VBTC exchange.
  • In 2014, the Silk Road event occurred, causing Bitcoin’s reputation to plummet, the New York Department of Finance had to step up and bring Bitcoin into the legal protection category.
  • In 2015, major British bank Barclays accepted Bitcoin, allowing users to donate to charity in BTC.
  • In November 2015, the Bitcoin symbol (₿) was officially included in the Unicode codepoint at position U+20BF in this encoding.
  • In 2017, Japan recognized Bitcoin as an official payment method.
  • On August 3, 2018, the Intercontinental Exchange – the owner of the New York Stock Exchange (NYSE) announced a partnership with Microsoft, Boston Consulting Group, Starbucks to open a Bitcoin exchange called Bakk.
  • In October 2021, Bitcoin had a time to surpass the 64,000 USD / 1 BTC mark – the highest price in the history of this cryptocurrency.

Who Created Bitcoin?

Satoshi Nakamoto is the name that comes up the most when someone asks who created Bitcoin. However, there is no proof that Satoshi is a person or organization.

In 2010, the Bitcoin development community gradually lost contact with Satoshi, after Satoshi gave the alarm key when the Bitcoin network was hacked to Gavin Andresen. To date, the creator of Bitcoin is still a mystery, there are a few names such as Nick Szabo – a enthusiast of the distributed currency, published the article Bit Gold is considered the forerunner of Bitcoin, Hal Finney – cryptographic pioneer and early adopter of Bitcoin software,…

Update Bitcoin price over the years
In 2021, the price of Bitcoin has continuously reached all-time highs, surpassing $60,000 per 1 BTC.

During 2013 – 2017, the price ranged only from 100 USD / 1 BTC to less than 1,000 USD / 1 BTC.
By the end of 2017 the price was close to 20,000 USD/ 1 BTC but then fell around in the range of 3,000 USD/ 1 BTC to 10,000 USD/ 1 BTC.
At the beginning of 2021, the Bitcoin price skyrocketed to 63,000 USD / 1 BTC (April 2021) and fell deeply to the price of 31,000 USD / 1 BTC (July 2021).
On September 11, 2021, the Bitcoin price reached a new peak of 66,000 USD / 1 BTC and the current price fluctuates around 42-43,000 USD / 1 BTC.

Why is Bitcoin falling in price?

Looking at the reality of Bitcoin’s price change, it can be seen that there are times when the price is extremely high, but sometimes it drops deeply. Many experts believe that the reason why the price of Bitcoin has dropped is due to a few reasons:

Pressure to take profits from individual and institutional investors.
The US Federal Reserve tightened its control of cryptocurrencies, and hearings took place against companies and organizations of cryptocurrencies.
Due to the pressure of Covid 19 and the Omicron mutation.
Depending on the severity, not only BTC, the whole Crypto market could be affected.

Is Bitcoin safe?

For those who are new to BTC in particular, the Crypto market in general wants to know if Bitcoin is safe. To get the answer, we need to learn about the technology used to create this coin, the security and privacy characteristics of Bitcoin owners.

is bitcoin safe

Design technology
Bitcoin is a currency created based on Blockchain technology, designed to resist data change. This is considered a breakthrough for future finance.

Blockchain can be understood as an electronic ledger that stores all transaction information and ensures that it will not be changed in any way. Blockchain will be distributed data stored and validated on many different computers connected in a common network.

No person or machine can change, delete, or overwrite the data in it. Note that although the information cannot be changed, it will be added when there is a consensus of all nodes in the common system. And yet, thanks to Blockchain technology, the ability to transmit data does not require and requires intermediaries to confirm information. People can share information for many units in the same construction network.

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TRON Negates the Fall in Valuation with Strong Buying!

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TRON has climbed huge mountains after its release in 2017 and has posted over 17650% of gains from its launch value in 2017 to September 2021. The value of TRX has undergone a huge change from $0.0022 levels to the current value of $0.9265 levels. TRON currently ranks amongst the top 30 cryptocurrencies with a market capitalization of over $6 billion with a circulating supply of 71 billion coins.

The value of Tron is straight forward a derivative of its exposed circulating supply and its potential. Comparing the numbers, TRON can process 2000 transactions per second compared to just six transactions per second of Bitcoin and 25 of Ethereum. Just comparing the numbers gives the transactional capability of TRX and its upscaling potential.

TRON has mostly focused on content creators and has used TRX coin as a way of rewarding content creators through its rewards. It even allows creators to develop their tokens and decentralize the gaming sector. Positioning itself as a content creator supporting ecosystem has enabled creators to connect directly with potential customers, eliminating centralized platforms. Considering the upscaling potential of Tron, people interested in investing here should hold their positions.

TRON Price Analysis

TRON retraced most of its lost value within a short time interval and is headed back towards $0.11 targets with a furious buying sentiment.

TRON Price Analysis

TRON underwent a surprise fall in its value within a concise time interval. The fall was responded with a huge buying action, almost equaling the selling volume on September 07 in the following day. TRON has once again jumped back to $0.0933. Surpassing the support zone will push the TRX price towards the close resistance of $0.11.

RSI levels have also jumped towards 52 from a steep decline, but the major uncertainty in sustaining the gains. If sellers activate their trades, we will witness a significant fall to the tune of its 100 DMA levels. As of now, TRON can be seen respecting its 200 DMA level of $0.08254. It is attempting a fresh price breakout but is more likely to close in an uncertain candle with wicks on both ends.

TRON price prediction

Hourly charts show consolidation as a large part of the trading action on TRX. It consolidates in a narrow range before giving a breakout and again consolidates within a narrow range. This price action is continuing, and there is a high probability of another breakout towards $0.100 levels. MACD on hourly trades has become positive again, and so has the RSI levels. RSI is now trading at above 50 levels. Combining all these indications and our TRX coin price prediction, one should hold their investments.

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MATIC: Can It Become the Bridge of Interoperability

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Polygon MATIC intends to resolve the problems of the Ethereum network to promote better incorporation of blockchain technology. Polygon came into play as Ethereum transaction fees increased to a level that started to affect scalability.

Polygon has also started to develop its network to support the Ethereum Defi Ecosystem. Another positive news coming in the Polygon counter is Mark Cuban’s unrevealed investment in Indian cryptocurrency, MATIC. This investment news at a time when all crypto counters are witnessing consolidation of profit booking has the potential to fuel another bull run MATIC.

In our MATIC price analysis, we have covered the technical chart and possible breakout zones, as this news can also cause a profit-booking by some. The only trouble to MATIC’s bull run could be ETH 2.0 scalability solutions launch. We know MATIC is working on building layer 2 solutions on the Ethereum network, hence it will be an interesting aspect to decide the future of MATIC.

Could MATIC Win the Ethereum Scaling Race?

Listing of the MATIC token on the Coinbase crypto trading platform has been a ground-moving reason for this cryptocurrency. The MATIC token is used as a transaction fee on all the dapps built using a polygon.

Polygon (MATIC) is currently emphasizing sustainable NFTs with the latest integration. Its Proof of stake mechanism offers better energy efficiency as compared to the Proof of work mechanism used by Ethereum. By moving the NFT transactions away from the main blockchain of Ethereum, Polygon is creating a sustainable market of itself.

The growth lead of Polygon even mentioned the prospects behind incorporating NFT as their blockchain network. Polygon joined the Polkastarter council on May 27, 2021, which is an independent authority that works on the selection process of Polkastarter IDOs. This can be a revolutionary event in scaling the value of the MATIC.

What does the Future Hold for the MATIC?

MATIC has a fixed token supply, a low market capitalization, and works on a network that is increasing its reach are some of the factors fueling further boost in this token. As of now, this cryptocurrency has become the 12th largest digital asset.

MATIC has moved up from the lows of $0.68 on 1st May to $2.89 on 19th May. The volatility of every cryptocurrency is the result of major profit booking and coin dumping. But even so, how does the MATIC coin price prediction fare with the expectation of the crypto-enthusiasts.

MATIC coin price prediction

MATIC price is currently trading well above all its important moving averages. There is a significant movement, which has pushed this coin over the $2 range twice. Currently, the price action is respecting its 30-day moving average. This cryptocurrency has been trading well above its important moving averages. Even in the short term support level of 30 days moving average.

If it fails to take support from its 7 days moving average, the prices could plummet to the $1.3 range. Although given its price action, such a level would be a good buying range. In the long run this coin seems positive as it is respecting the important levels.

MATIC News

Polygon Matic has been witnessing some stiff resistance near its all-time high. Earlier on May 19, the MATIC price fell from the same range during the profit booking session across the crypto market. MATIC coin, however, rebounded from just below $1 valuational to reclaim its previous high.

As evident from the chart patterns, the $2.45 levels will be instrumental for this crypto to reach new heights. There seems to be a support building near its last resistance levels, but any sell-off can push this coin back to the $0.80 range.

RSI indicator is also closing the oversold zones, indicating some weakness in the short term. A rebound from these levels can push MATIC to battle the stiff resistance around $2.45 and test its all-time high.

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