Ethereum, XRP, and Litecoin Prices Wait for Bitcoin’s Halving
With Bitcoin’s halving just a few hours away, the cryptocurrency market appears to have entered a stagnation phase. Ethereum, XRP, and Litecoin are currently held by critical support levels that will determine where they are headed next.
Ether’s price action appears to be contained within an ascending parallel channel that developed on its daily chart since the March crypto market free-fall.
Each time ETH rises to the upper boundary of this channel, it retraces down to hit the lower boundary, and from this point, it bounces back up again. This is consistent with the characteristics of a channel.
Under this premise, the Apr. 30 high of $227 represented a retest of the top of the channel.
This resistance barrier prevented ETH from further advance as it has tested this high over the past three months. Subsequently, resulting in a pullback to the bottom of the channel, which coincides with the downward impulse seen over the weekend.
If the ascending parallel channel continues to hold, it is reasonable to expect a bounce back to the middle or upper boundary of this technical pattern.
Such a bullish outlook seems very likely considering the strength that the lower boundary of the channel has shown.
Alongside this barrier sit the 50-, 100-, and 200-day exponential moving averages, which provide an extra layer of support.
Therefore, a spike in demand from the current price levels could see Ethereum climbing to the middle or the top of the channel once again.
These resistance walls sit at $227 and $250, respectively.
An increase in the selling pressure behind Ethereum can still jeopardize such an optimistic scenario.
If this were to happen, a key level of support to watch out for is the 38.2% Fibonacci retracement level that is located around $174.
A daily candlestick close below the aforementioned support barrier could be catastrophic for Ethereum as it increases the odds for a steeper decline towards $142 or even $119.
Crypto Briefing has repeatedly warned investors about the strength of XRP’s 100- and 200-day moving averages.
As predicted, this supply zone was able to reject Ripple’s token from posting more gains. Consequently, putting a stop to the bullish momentum seen in late April.
Now, the cross-border remittances token has dropped to try to find support around its 50-day moving average. This support level appears to be holding steady, but may be weakening.
Indeed, the moving average convergence divergence, or “MACD,” recently turned bearish within the same timeframe. This technical indicator follows the path of a trend and calculates its momentum.
As the 12-day exponential moving average moved below the 26-day exponential moving average, the odds for a further decline increased.
Like Ether, the 38.2% Fibonacci retracement level is also key to XRP’s trend.
A spike in sell orders that allows the international settlements coin to close below the support area ahead may trigger panic among investors.
Such a bearish impulse would likely see XRP crash to $0.14 or even make a new yearly low as trading veteran Peter Brandt estimated.
Nonetheless, XRP may continue to consolidate around the current price level, which could see a sudden rise in demand.
If so, an increase in the buying pressure behind this cryptocurrency might allow it to bounce back to the 100- or 200-day moving averages and retest their resistance.
The 100-day exponential moving average has proven to be a major resistance wall impeding bulls from taking control of Litecoin’s price action. On eight different occasions over the past two weeks, this barrier was contained LTC from advancing further up.
The most recent rejection from this resistance level was so significant that it flipped the parabolic stop and reverse, or “SAR,” on the 1-day chart. Every time the stop and reversal points move above the price of an asset, it is considered to be a negative sign.
The recent parabolic SAR flip estimates that the direction of Litecoin’s trend changed from bullish to bearish.
The TD sequential indicator within the same time frame adds credence to the pessimistic outlook.
This technical index presented a sell signal the moment the current red two candlestick began trading below the close of the preceding red one candlestick.
Due to the strength of the setup trendline and the 100-day exponential moving average, the range between these support and resistance levels is a reasonable no-trade zone.
A daily candlestick close below $40 or above $48 will determine where Litecoin is headed next.
Regardless of the popular belief that Bitcoin’s halving is the catalyst for a full-blown bull market, data shows that in the short-term that might not necessarily be the case.
In a recent report, OKEx analyzed how Bitcoin and other altcoins behaved before and after their respective halvings. The Malta-based cryptocurrency exchange concluded that this event usually turns into a “buy the rumor, sell news” scheme.
Smart investors usually “long before halving, short on the halving date, and unwind the final position three days after halving,” according to the report. The exchange added:
“The theory behind it is that due to the heated discussion and news on halving, the demand for that coin will increase prior to the event; but as the news dies down after it halves, the buying pressure is gone and the coin price would drop,” said OKEx.
Under this premise, one could argue that the cryptocurrency market is poised for a steeper decline.
Thus, it is very important to pay close attention to the support levels mentioned in this analysis. Waiting for confirmation is one of the best ways to avoid getting caught on the wrong side of the trend.
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EToro test & experiences 2020 – read now before registration
The trading platform eToro is best known for its YouTube advertising and the buzzword social trading. Trading should be as easy and uncomplicated as never before and you can also invest in Bitcoin, Ethereum or other crypts. How does eToro do in the test? What are the advantages and disadvantages and what are the fees? Kryptoszene.de has answered these and other questions and summarized the eToro experiences here.
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Our recommendation: buy shares at eToro
- Top dog on the broker market with numerous features
- Social trading
- Fully licensed and regulated
- Trading apps for Android & iOS
- Share trading without fees
62% of private investor accounts lose money when trading CFDs with this provider
eToro was founded in Tel Aviv, Israel in 2007 and speaks of itself as a multi-asset platform and the leading provider of social trading worldwide. With registered offices in the UK, Cyprus, Isreal and China and over 10 million customers, the platform has a mission: "To make global markets accessible, to trade and invest in them in a simple and transparent way". eToro therefore offers the possibility to trade well-known stocks such as Apple, Google, Facebook and many more. But the portfolio also includes other investment opportunities such as derivatives on raw materials (such as oil, gold, silver, cocoa and coffee) as well as foreign exchange, ETFs and other various indices.
Cryptocurrencies are also available to buy and sell. The provider is not only limited to the best-known cryptos such as Bitcoin, Ethereum and Litecoin but also Ripple or Zcash and other rather unknown cryptocurrencies can be traded. All in all, several cryptocurrencies are offered for trading and the offer is constantly expanding.
Founded by Yoni Assia and Ronen Assia, eToro has developed over the years. In 2009 the webtrader with the trading platform was added, in 2011 the Android and iOS app was published.
In 2013, additional shares from well-known companies were added and in 2017 the portfolio was expanded to include cryptocurrencies such as Bitcoin, Ethereum, Litecoin and a number of others. In 2018, an in-house cryptocurrency wallet for Android and iOs was also introduced. Today the team has 19 employees and 5 investors from all over the world. The following corporate values are particularly important for the founders: simplicity, innovation, entertaining, openness and quality.
Do our eToro experiences live up to these promises?
Which eToro experiences does the test reveal? A detailed review by the social broker provides answers. What speaks for the provider? Where are the fees? And how good is the app? On this page, prospective traders can find out everything you need to know about the popular crypto, stock and CFD broker.
Millions of people are already using the eToro trading platform, the wide range of functions on offer and social trading. Reason enough for Kryptoszene.de to carry out an eToro test. The aim is to assess the eToro platform, how quickly and easily you can trade via eToro Bitcoin or other currencies and what costs can be incurred by investors in the form of fees.
Our eToro experiences allow an insight into the app and present all important information in a complete eToro review. This test also looks at the license and regulation of eToro, the functions of the website, security measures to protect investors, fees and ease of use.
Step 1: the registration
It doesn't take much time to open a customer account and you are guided through the registration process. In addition to the option of creating a user account yourself, there are also options to register via a Facebook or Google account, which once again significantly simplifies the process. Access to the trading platform is provided for the transfer of some personal data, such as the first name, last name and an email address. Of course, you still have to verify yourself via a link sent to your mailbox.
Step 2: the deposit
As soon as you have set up your customer account and confirmed your identity, you should transfer the necessary money to your account to start trading. You have a large number of deposit options and even PayPal is supported. Only the minimum amount has to be observed. This is $ 500 for bank transfers and $ 200 for all other options. The minimum deposit is higher for corporate customers.
Step 3: trading
As soon as the money has been received in the customer account, you can start trading immediately, but first you have to decide on an investment type and a desired asset. Users can choose from various CFDs, stocks, cryptocurrencies and many other trading goods. After selecting an asset, you have to specify the amount. The fees are displayed immediately afterwards and the transaction is confirmed. The order can be found in your own customer account within a few seconds and you can now initiate a sale again at any time via app or desktop.
75% of private investor accounts lose money when trading CFDs with this provider
Cryptocurrencies were added in 2017 and are constantly being expanded with new coins. The website now offers 15 different digital currencies and many possible currency pairs.
So you can buy Bitcoin or other cryptocurrencies via eToro. Some cryptos can even be transferred to the in-house wallet. With other coins, the broker itself manages the tokens for the user. If you use the leverage function, corresponding trades are settled as CFDs.
- Social trading
- Copy portfolio
- Daily market overview
- Economic calendar
One, if not the special feature of eToro is the following and copying from other investors, the so-called social trading. With this function, the best traders are copied by hundreds, if not thousands, of social traders and take off a large part of the work, especially for beginners. With just a few clicks, the investments of a friend or another successful investor can be replicated and transferred to your own portfolio. With these copy trades there is no inhibition threshold, which previously made it difficult for inexperienced investors to enter active trading and significantly increases the fun factor.
Another type of social trading is CopyPortfolios or “Market Portfolios”. CopyPortfolio are bundles of stocks and other assets that you can invest in like a mutual fund. Of course, these are CFD positions, not stocks of actual securities, but they are traded just like funds or ETFs. CopyPortfolio follow topics. For example, they enable you to invest in a banking topic, which means buying positions in large banks and fintech companies. Consumer Tech CopyPortfolio or a Cannabis Medical CopyPortfolio are also available and can be transferred to your own portfolio. This type of investment not only makes it easier for new investors to enter the world of share trading, but also enables experienced traders to get to know new strategies from other investors and to adapt them to their own investment strategy.
Visit the test winner of the crypto brokers
To copy another investor, you select the desired trading good or a corresponding copy trader in which you would like to invest and make the remaining settings according to your personal preferences. With a selected commodity you get an overview of possible investors. The desired trading capital must then be defined and confirmed using the “Invest” button. If you have any questions or requests, Etoro supports you with a comprehensive help section that includes some FAQs. The frequently asked questions are answered there.
In addition to a daily market overview, eToro offers an economic calendar and a quarterly calendar. There is also an eToro blog with platform news and a deeper insight into the world of cryptocurrencies and other types of trading.
With its simple and modern design, eToro enables you to quickly and easily invest in various cryptos and to upgrade your own portfolio. With a few clicks you can get from the registration to the first coins in the wallet.
Via eToro you can buy cryptocurrencies and then easily sell them again. This step-by-step guide explains how to trade cryptocurrencies and how to buy via eToro Bitcoin or another cryptocurrency.
The source currency chosen is decisive for the price and the fees. You choose the desired currency pair and the platform immediately shows the current exchange rate for the day, week and month. To buy one of these currencies, click on the “K”.
The currency is then selected for payment. Payment can be made via another cryptocurrency or via FIAT. The exchange rate and potential prices are shown. An overview of eToro fees can be found in the FAQs for the eToro Fees and below in the article. Each individual percentage for all possible currencies, stocks, raw materials and cryptocurrencies is listed here.
The currency is then securely stored in the user account. It depends on the respective token whether you can then send it to your in-house wallet. From there, the coins can then be transferred to other digital wallets. All other coins are managed by the eToro platform. A payment can only be made after conversion into real currencies, such as euros.
Before completing the purchase of a cryptocurrency, you can see all the data in an overview. The eToro fees are shown here again. To confirm the purchase contract, the trade is accepted with a click of the mouse.
The brokers created a special eToro wallet. This can be downloaded from the Android or iOS store. If you have purchased supported tokens, you can manage them via the app.
Visit the test winner of the crypto brokers
The eToro app was designed in April 2011 for Apple and Android smartphones. This enabled investors to carry out every transaction on the go. The app works on pretty much any mobile device. Alternatively, the eToro website can also be called up without installing an app in the smartphone's browser.
This means that trading cryptocurrencies and other assets can be done flexibly whenever and wherever you want. According to the operator, the app contains pretty much all functions of the desktop version, including currency trading, stock and CFD trading. In the eToro test, all live prices of tradable cryptocurrencies were also displayed. You also get the mobile option to view an overview of all purchases and sales made.
The eToro app has been downloaded over a million times. At 69 MB, it is also compact enough not to take up too much space on the end device. eToro support in stores is usually answered directly by eToro Support. Regular updates ensure a safe eToro app experience.
The website is programmed in a modern way, clarifies every new and experienced investor several times about the risks in trading and shines through constant further developments of the offer. The eToro test shows that the website has a wide range of stocks, currencies, digital currencies and commodities. For one or the other, it should be a shortcoming that only 16 cryptos are directly tradable, which is only mediocre compared to other exchanges. But where else can you expand your portfolio so elegantly with stocks and CFDs and copy competent investment strategies quickly and easily via the social functions? In addition, the eToro app offers a variety of investment opportunities.
The ability to follow other users and mimic their transactions is remarkable. It is logical that the exchange between investors is also promoted here.
- Wide range of trading opportunities
- Many types of deposits
- PayPal available
- Good customer service
- Clear and modern trading platform & app
- Social trading
To be able to make a deposit on the platform, you need a Visa or Mastercard credit card, a Diners Club member or an account with PayPal, Skrill, Neteller, UnionPay, Webmoney or Yandex. Any future investor should have such a payment option if they want to deal with online trading.
- Diners Club
According to their own information, security is very important on the website. Accordingly, the account and money of investors should be protected at all times. eToro keeps its customers' funds in European Tier 1 banks. A tier 1 bank is an institution with very high core capital. They are considered to be particularly risk-bearing. The site also works with SSL encryption, so attacks from outside are not expected.
At eToro (Europe) Ltd. is a financial service provider, licensed (license number 109/10) from the Cyprus Securities Exchange Commission (CySEC), who is committed to its regulations. Source: eToro website
The broker's license comes from the EU country Cyprus. So European regulations must be complied with, otherwise eToro could not offer its service at all. The deposit guarantee goes up to 20,000 euros.
It should be noted that cryptocurrencies are still not regulated. So if you venture into crypto trading, you will do so without securing the international community.
As soon as a problem or questions arise during trading, you can contact support. At eToro there are several ways to contact customer service. Under “Online help” you select the appropriate tab as a registered investor. You can also use the practical live chat or pick up the phone.
For future investors there is the possibility to make a new request and to leave his email address in a contact form with a message.
Customer service works around the clock from Monday to Friday. Even in the Android or iOS store, broker employees reply with a personal message after just a few days. Another advantage is that the support can also be used in several languages.
The underlying pricing at eToro is much simpler than most of its competitors. There is no deposit fee and no commission, instead eToro makes its money on the spread. An overview of the eToro fees can be found on a subpage of the FAQs. The individual transaction fees per currency, raw material, share or foreign exchange are clearly listed and you get a transparent insight into all other eToro fees. The fees for cryptocurrencies currently range between 0.75% for Bitcoin and 3.5% for TRON. As a rule, the spreads for crypto positions are larger than for classic assets because they are characterized by higher volatility.
There are variable fees for other investment options. ETF fees are surprisingly low at just 0.09%, which can be explained by the broad diversification and the high stability. Individual share positions are also advertised at 0.09%, but this does not include additional overnight fees and a so-called weekend rollover fee if the positions are held for longer than 24 hours or over the entire weekend. A detailed description with clear examples can also be found on the eToro FAQ page on trading hours and fees. When trading Forex or Forex, spreads are measured in pips (“Percentage in Point” – the smallest price change that a platform can register). Pip spreads are very small for stable, popular currency trading pairs. For example, EUR / USD only has a spread of 3 pips with eToro. For unusual pairs like USD / TRY, the spread is 50 pips. For foreign exchange CFDs, the overnight fees are calculated in relation to the corresponding pips and the investment amount.
Likewise e.g. an inactivity fee. This only applies if the account has been inactive for more than 12 months (no active registration has been made). In such a case, an eToro fee of around EUR 10 per month will be charged until the credit available on the account has been used up. However, no open positions are closed to cover the inactivity fees and a single login is sufficient to reset the inactivity.
When transferring money back to the original bank account, you also have to pay eToro fees of 25 euros. In this eToro test, in addition to the usual conversion fees, no other negative costs were discovered.
Is eToro legitimate or fraudulent? After a comprehensive evaluation of the online experience reports and an intensive eToro test, a clear conclusion can be drawn: An eToro Scam can be excluded. The risks associated with trading are consistently and transparently pointed out and the fees incurred clearly stated. The website is also used by over nine million users and is a licensed broker. Furthermore, the eToro app has been downloaded a million times and given 4.0 out of 5 possible stars.
eToro is regulated by the Cypriot Cyprus Securities to Exchange Commission (CySEC) and therefore has a cross-border EU license to offer the services in all member states to the European Economic Area. The same applies to the licenses and regulations in the United Kingdom, which is supervised by the FCA, the United States, where registration is made as a money service business with FinCEC, and Australia, where the Australia Securities issues the licenses to Investments Commission (ASIC).
- EU license and regulation
- Many users
- Transparent risk warnings
- SSL certificate
- Easily accessible support
eToro is probably one of the best addresses when it comes to online trading. You can buy and sell cryptocurrencies via the eToro app and the website meets all modern security standards. A comprehensive and visually appealing FAQ serves almost all inquiries and problems. If you have any special questions, customer service is immediately on hand to offer help-seekers useful tips and an individual solution to almost every problem. The site also impresses with its professional, easy-to-understand, intuitive design and encryption using an SSL certificate.
The eToro experience report clearly shows that there are few exchanges or exchanges that can offer such a variety of trading products. A wide variety of positions can be brought into the portfolio, from cryptocurrencies, shares and CFDs to foreign exchange. Both the website and the app impress with their modern designs and intuitive user guidance, the offer and the app are now available in 20 languages and the customer service is quick and helpful. With the range of social trading and copy trading, eToro gives the topic of trading a breath of fresh air and devalues many obstacles that previously prevented young traders from entering the world of trading,
EToro is a reputable platform that lives up to its reputation and we even go as far as to say:
Of all exchanges and exchanges, eToro is one of the best to judge and the easiest to use.
Our recommendation: buy cryptos at eToro
- Incl. Wallet
- Buy and sell cryptocurrencies directly in the wallet
- Paypal, credit card and instant transfer
- Regulated provider
- Real cryptos or CFD trades
Disclaimer: 62% of private CFD accounts lose money
Did you like the review? The article is part of our large series on the best exchanges and crypto brokers on the net. Are you wondering whether cryptocurrencies are still worthwhile in 2020? Or do you want to learn more about a chosen cryptocurrency? Do you need a wallet for your coin? Do you want to invest in Bitcoin via stocks? Kryptoszene.de helps!
The provider is an online broker who can speculate on stocks, forex, cryptocurrencies and other assets.
EToro was convincing in our test. The diverse trading options and excellent customer support attract many customers, most of whom are very satisfied with the provider
The minimum deposit amount at eToro is set at € 190 ($ 200). The amount of your own investment should be made dependent on both your own liquidity and the chosen asset, as well as your own willingness to take risks. In general, you should never invest money that you actually need otherwise, since profits can never be guaranteed.
The platform can also convince here. Withdrawals are processed very quickly and, depending on the payment method selected, are on your own account within a few minutes to 2 working days.
You should always know what you are investing in. The provider provides an academy in which you can continuously improve your skills and be informed in detail about all trading options. If you have the necessary know-how, as well as the occasional bit of luck, there is nothing standing in the way of early profits.
Fees at eToro are limited to the spread and payout and vary by asset. There is a flat fee of $ 5 for each withdrawal with a minimum withdrawal of $ 30.
Every trade is risky. No guarantee of profit. All content on our website is for information purposes only and does not constitute a buy or sell recommendation. This applies to assets as well as products, services or other investments. The opinions communicated on this page do not constitute investment advice and independent financial advice should be sought whenever possible. This website is available to you free of charge, but we may receive commissions from the companies we offer on this website.
Crypto.com Extends Insurance Coverage to $360 Million After Securing $100 Million Policy Led by Arch Underwriting at Lloyd’s Syndicate 2012
– Policy expands as the company sees rapid growth, reaching the 2M user milestone
HONG KONG, May 11, 2020 /PRNewswire/ — Crypto.com today announced it has secured a US $100M direct insurance policy led by Arch Underwriting at Lloyd’s Syndicate 2012. This is the largest coverage that Crypto.com has secured for its cold storage assets on custodial partner Ledger Vault. The new policy brings Crypto.com’s total cryptocurrency insurance to $360M, including direct and indirect coverage via custodians. It will significantly expand security protection for its rapidly growing user base, which has just surpassed 2+ million, against physical damage or destruction, and third-party theft.
As cryptocurrency adoption rises, insurance coverage has lagged behind. The total market value of cryptocurrencies has grown to $250-300B today, however Forbes reports that there exists only $1B available insurance coverage, leaving the vast majority of crypto assets unrecoverable amidst a rise in fraud and thefts that reached $4.5B globally in 2019. According to a recent survey Crypto.com conducted with the Economist Intelligence Unit (EIU), security concerns were cited by nearly ⅓ of respondents as a barrier to greater digital currency adoption.
Kris Marszalek, Co-founder and CEO of Crypto.com said: “The crypto market is woefully under-insured, which puts both custodial firms and users at risk of theft or loss of their assets and presents a roadblock to mainstream crypto adoption. We have committed deeply to the security of our platform, a top concern shared by early adopters and those new to crypto. This additional insurance policy from Lloyd’s, coupled with our previous large policy and ongoing proactive ‘Defense in Depth’ approach, provides another layer of protection for our users.”
Recent Crypto.com Growth
Crypto.com also announced that its platform has reached 2 million users, a key milestone achieved just six months after the company hit its 1 million user mark. The rapid growth in users led to transaction volumes on Crypto.com’s platform more than tripling between December 2019 and April 2020. The Crypto.com App has reached top 50 in the Finance category in the UK, France, Italy and Spain, with plans to ship its cards to the rest of Europe soon. The company’s CRO token saw the third-highest growth on market cap in Q1 2020 according to CoinMarketCap.
Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. With over 2 million users on its platform today, Crypto.com provides a powerful alternative to traditional financial services, turning its vision of “cryptocurrency in every wallet” into reality, one customer at a time. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance. Crypto.com is headquartered in Hong Kong with a 250+ strong team. Find out more by visiting https://crypto.com.
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11 May, 2020, 16:01 BST