Macro Strategist Warns: 2022 Is Not A Bull Year For Bitcoin Macro strategist Lyn Alden made several warnings on the subject, stating that 2022 is not in a bullish trend for the leading cryptocurrency Bitcoin (BTC) and is still susceptible to a capitulation event for BTC. Classified as a "risk asset" by many capital pools In an interview with Stansberry Research, macro strategist Lyn Alden states that he looks at the Purchasing Managers Index (PMI) to determine the overall trend of Bitcoin (BTC). So what is PMI? PMI is an economic indicator that aims to show the health of the manufacturing and service sectors. Strategist Lyn Alden, stating that he is not very optimistic for 2022, also adds the following words for investors; “Bitcoin's biggest bull is historically moving. We have seen PMI rising in 2011, 2013, 2017 and 2020. So overall the current period type cannot be called historically great for Bitcoin's price action. Currently, most capitals are due to Bitcoin's volatility. It's classified as a risk asset by the pool, so I'm not particularly optimistic for the 2022 calendar year." The United States' PMI currently stands at 58, marking a 9.38 percent drop from 64 in March last year. Macro strategist Lyn Alden points out that a falling PMI in the midst of a tightening currency environment can act as a catalyst for a capitulation event. Alden's words on the subject are as follows; “If you experience some kind of market turmoil, you may have a capitulation similar to March 2020 or the fourth quarter of 2018, which the Fed is still trying to tighten into a falling PMI environment. If you get such a capitulation, I would consider it a buying opportunity. I don't know if we can take it. We can definitely see a break below $30,000 in this kind of capitulation environment.” Despite its bearish outlook for 2022, Alden also states that Bitcoin is in an upward trend in the long run; “When I look at multiple years, say three to five years time frame, I still see structural bullishness in Bitcoin when I look at the ecosystem.” As we previously reported as cryptoarena.com, the leading cryptocurrency Bitcoin (BTC) has increased by 6.6 percent in the last 24 hours and is instantly traded at $ 44,470.46.

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Bitcoin Continues to Rise! So What Do Analysts Expect in the Long Term? Today, while the prices of Bitcoin (BTC), ethereum (ETH) and crypto market are rising, some researchers and analysts suggest that the crypto market has reached the bottom and may start to rise towards the end of the year with the effect of some positive developments. Still, they call for caution. At 5:32 p.m., BTC is trading at $43,400, up about 5% in a day and 14% in a week. ETH is trading at $3,118 and is up 4% in a day and 19% in a week. Bitcoin's rally on Monday allowed the coin's price to rise above the 50-day moving average, an important level on the chart often watched by technical analysts. This move marks the first time since November last year that Bitcoin has traded above the key level and could indicate that more bullish chart structure is under construction. “Bitcoin has broken some key levels and a downtrend line and is showing bullish signs,” Vijay Ayyar, Asia Pacific Head of crypto exchange Luno, told Bloomberg today. Ayyar added that "BTC is capped at 50-DMA and needs to close above it," adding that the short-term target could be the region of $46,000-47,000. At the time of writing, crypto exchange Binance shows that Bitcoin's 50-day moving average stands at $42,795. BTC rallied above $40,000 on Friday after trading below the psychologically important level for two weeks, while ETH rallied above $3,000 the next day. Ethereum's gains come at a time when other smart contract protocols' tokens are posting even bigger gains, with Solana's SOL token up 6%, Polkadot's DOT token 7% and Avalanche's AVAX token up 11% in the last 24 hours. Commenting on Twitter, Eric Wall, Chief Investment Officer of Arcane Assets, said that between $40,000 and $43,000 is "fear of missing out (Fomo) territory for Bitcoin, and people selling in the $33-35,000 region will panic buy from this region." Financial research firm FSInsight said in a report last week that it expects macro tailwinds to bring BTC to $200,000 in the second half of the year, with the expected increase in Bitcoin's market cap-actual value (MVRV). Various potential catalysts are also on the horizon for Bitcoin this year, the report said. According to the company, these catalysts include the approval of a possible spot-based exchange-traded fund (ETF) in the US, sovereign nations adopting BTC as official currency, following in El Salvador's footsteps, and wider exposure in emerging markets with floating currencies like Turkey. includes the potential for adoption. Finally, on-chain analysis firm Glassnode said in its weekly report today that the $30,000 to $40,000 area “proves to be a solid support level”, saying it could be the bottom for Bitcoin. In the Glassonode report, he warned that "there is a reasonable degree of momentum behind this rally," he also warned that the market "remains at the highest level in supply delivery" with more than 25% of all Bitcoin having unrealized losses. “The key to monitoring progress is whether long-term investors and older coins will receive exit liquidity and whether the rally can be supported by renewed demand, which has been generally lacking since the May sales,” the report said. BTC and ETH's gains today came as the stock performed mixed, while US S&P 500 futures were lower during the European trading session before entering positive territory ahead of the market open on Wall Street. Strong employment numbers and a drop in equities Monday morning after Friday's higher-than-expected hourly earnings report has traders worried that the US Federal Reserve may be more aggressive in its fight against high inflation, according to Reuters. Meanwhile, the moves seen in the crypto market this week come after a volatile week for many tech stocks. Among the biggest losers is Meta, owner of Fecebook, which lost $200 billion in market value in the week of disappointing results. On the other hand, e-commerce giant Amazon added the same amount of value to its market cap after sharing better-than-expected results.

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Vitalik Buterin: Ethereum (ETH) Will Never Be Faster Ethereum (ETH) founder Vitalik Buterin explains why the network can't get any faster Vitalik Buterin thinks that the Ethereum network cannot get any faster than it is now. Buterin said reducing block time means compromising elements like "security and decentralization." Buterin's comment came in response to a question he received on Reddit. As with most blockchain-related problems, optimizing one variable (like speed) will likely be at the expense of another (like network security). According to Buterin, the "fundamental problem" with Proof-of-Work is the built-in randomness of block time. Ethereum's average block time may be 13 seconds, but that doesn't mean a block is written to the point every 13 seconds. Buterin explains that a new block has a chance to be approved just one second after the last one is approved. When this happens, the miner with the better network connectivity is more likely to propagate the next block first. Reducing block times makes this problem worse. Reducing block times will result in many signatures being excluded from the blockchain, and “highly centralized actors” will be in an increasingly favorable position to reap disproportionate rewards. Therefore, Buterin concludes that future upgrades will not significantly reduce “pro-slot time” and applications that require rapid approval will need to rely on channels or aggregations. There was also a discussion on the subject on Twitter. Emin Gün Sirer, founder of Ava Labs, which developed Avalanche, tweeted to Buterin and criticized him.

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Ethereum co-founder Vitalik Buterin continues to be interested in Dogecoin. Talking about Dogecoin, the most popular prank-themed crypto asset, Buterin confirmed that the Dogecoin Foundation is making an effort to move the crypto-asset generation process towards the PoS (Proof of Stake) consensus, and he is helping them. As it is known, the Ethereum network has been in the process of moving from the PoW (proof of work) consensus to the PoS (proof of stake) consensus for a long time. Vitalik Buterin is one of the most important advocates of this process, which was previously called ETH 2.0. Like the Ethereum network, Dogecoin is a project that wants to transition to a proof-of-stake consensus, and they said they needed the help of the Ethereum founder in this regard. What are the advantages of PoS (Proof of Stake) consensus? There are mixed opinions about the two most important methods used in the production of crypto money, PoS and PoW system. Although many projects intend to move to the PoS consensus, some industry participants argue that PoS is a weaker system in terms of security. On the other hand, the world's largest cryptocurrency Bitcoin is produced using the PoW method. For the mining of the largest cryptocurrency, a consensus change is not on the agenda. The criticism against PoW is that this method only provides an advantage to large miners. At this point, the Dogecoin Foundation emphasizes that all active users can generate income in the PoS method. Another advantage of the PoS consensus is that very little energy is required. That's why this form of cryptocurrency production stands out as an environmentally friendly method. Because in recent years, cryptocurrencies produced using high energy, especially Bitcoin mining, have been subjected to criticism by the authorities in many countries, and some have made attempts to ban mining. Dogecoin Foundation wants to be more active this year Apart from the consensus change plan, the Dogecoin Foundation has several plans to expand further into the cryptocurrency industry. Among these projects are providing DOGE integration to the play-to-win games that have become popular recently, increasing the usage in payment platforms and creating a platform with educational content. Latest situation on DOGE price DOGE stabilized at an average of $0.13 after seeing hard selling in the second half of January. Looking at the short-term price movements, it is seen that DOGE/USD moves sideways in the narrow band of $0.135 – $0.143. Dogecoin was at $0.14 in the morning, gaining 1.33 percent in value in the last 24 hours. The token of the project, which has a capital value of $ 18.61 billion, is in the 11th place in the crypto money ranking.

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Bitcoin Continues to Rise! So What Do Analysts Expect in the Long Term? Today, while the prices of Bitcoin (BTC), ethereum (ETH) and crypto market are rising, some researchers and analysts suggest that the crypto market has reached the bottom and may start to rise towards the end of the year with the effect of some positive developments. Still, they call for caution. At 5:32 p.m., BTC is trading at $43,400, up about 5% in a day and 14% in a week. ETH is trading at $3,118 and is up 4% in a day and 19% in a week. Bitcoin's rally on Monday allowed the coin's price to rise above the 50-day moving average, an important level on the chart often watched by technical analysts. This move marks the first time since November last year that Bitcoin has traded above the key level and could indicate that more bullish chart structure is under construction. “Bitcoin has broken some key levels and a downtrend line and is showing bullish signs,” Vijay Ayyar, Asia Pacific Head of crypto exchange Luno, told Bloomberg today. Ayyar added that "BTC is capped at 50-DMA and needs to close above it," adding that the short-term target could be the region of $46,000-47,000. At the time of writing, crypto exchange Binance shows that Bitcoin's 50-day moving average stands at $42,795. BTC rallied above $40,000 on Friday after trading below the psychologically important level for two weeks, while ETH rallied above $3,000 the next day. Ethereum's gains come at a time when other smart contract protocols' tokens are posting even bigger gains, with Solana's SOL token up 6%, Polkadot's DOT token 7% and Avalanche's AVAX token up 11% in the last 24 hours. Commenting on Twitter, Eric Wall, Chief Investment Officer of Arcane Assets, said that between $40,000 and $43,000 is "fear of missing out (Fomo) territory for Bitcoin, and people selling in the $33-35,000 region will panic buy from this region." Financial research firm FSInsight said in a report last week that it expects macro tailwinds to bring BTC to $200,000 in the second half of the year, with the expected increase in Bitcoin's market cap-actual value (MVRV). Various potential catalysts are also on the horizon for Bitcoin this year, the report said. According to the company, these catalysts include the approval of a possible spot-based exchange-traded fund (ETF) in the US, sovereign nations adopting BTC as official currency, following in El Salvador's footsteps, and wider exposure in emerging markets with floating currencies like Turkey. includes the potential for adoption. Finally, on-chain analysis firm Glassnode said in its weekly report today that the $30,000 to $40,000 area “proves to be a solid support level”, saying it could be the bottom for Bitcoin. In the Glassonode report, he warned that "there is a reasonable degree of momentum behind this rally," he also warned that the market "remains at the highest level in supply delivery" with more than 25% of all Bitcoin having unrealized losses. “The key to monitoring progress is whether long-term investors and older coins will receive exit liquidity and whether the rally can be supported by renewed demand, which has been generally lacking since the May sales,” the report said. BTC and ETH's gains today came as the stock performed mixed, while US S&P 500 futures were lower during the European trading session before entering positive territory ahead of the market open on Wall Street. Strong employment numbers and a drop in equities Monday morning after Friday's higher-than-expected hourly earnings report has traders worried that the US Federal Reserve may be more aggressive in its fight against high inflation, according to Reuters. Meanwhile, the moves seen in the crypto market this week come after a volatile week for many tech stocks. Among the biggest losers is Meta, owner of Fecebook, which lost $200 billion in market value in the week of disappointing results. On the other hand, e-commerce giant Amazon added the same amount of value to its market cap after sharing better-than-expected results.

180 views ·

Vitalik Buterin: Ethereum (ETH) Will Never Be Faster Ethereum (ETH) founder Vitalik Buterin explains why the network can't get any faster Vitalik Buterin thinks that the Ethereum network cannot get any faster than it is now. Buterin said reducing block time means compromising elements like "security and decentralization." Buterin's comment came in response to a question he received on Reddit. As with most blockchain-related problems, optimizing one variable (like speed) will likely be at the expense of another (like network security). According to Buterin, the "fundamental problem" with Proof-of-Work is the built-in randomness of block time. Ethereum's average block time may be 13 seconds, but that doesn't mean a block is written to the point every 13 seconds. Buterin explains that a new block has a chance to be approved just one second after the last one is approved. When this happens, the miner with the better network connectivity is more likely to propagate the next block first. Reducing block times makes this problem worse. Reducing block times will result in many signatures being excluded from the blockchain, and “highly centralized actors” will be in an increasingly favorable position to reap disproportionate rewards. Therefore, Buterin concludes that future upgrades will not significantly reduce “pro-slot time” and applications that require rapid approval will need to rely on channels or aggregations. There was also a discussion on the subject on Twitter. Emin Gün Sirer, founder of Ava Labs, which developed Avalanche, tweeted to Buterin and criticized him.

140 views ·

Ethereum co-founder Vitalik Buterin continues to be interested in Dogecoin. Talking about Dogecoin, the most popular prank-themed crypto asset, Buterin confirmed that the Dogecoin Foundation is making an effort to move the crypto-asset generation process towards the PoS (Proof of Stake) consensus, and he is helping them. As it is known, the Ethereum network has been in the process of moving from the PoW (proof of work) consensus to the PoS (proof of stake) consensus for a long time. Vitalik Buterin is one of the most important advocates of this process, which was previously called ETH 2.0. Like the Ethereum network, Dogecoin is a project that wants to transition to a proof-of-stake consensus, and they said they needed the help of the Ethereum founder in this regard. What are the advantages of PoS (Proof of Stake) consensus? There are mixed opinions about the two most important methods used in the production of crypto money, PoS and PoW system. Although many projects intend to move to the PoS consensus, some industry participants argue that PoS is a weaker system in terms of security. On the other hand, the world's largest cryptocurrency Bitcoin is produced using the PoW method. For the mining of the largest cryptocurrency, a consensus change is not on the agenda. The criticism against PoW is that this method only provides an advantage to large miners. At this point, the Dogecoin Foundation emphasizes that all active users can generate income in the PoS method. Another advantage of the PoS consensus is that very little energy is required. That's why this form of cryptocurrency production stands out as an environmentally friendly method. Because in recent years, cryptocurrencies produced using high energy, especially Bitcoin mining, have been subjected to criticism by the authorities in many countries, and some have made attempts to ban mining. Dogecoin Foundation wants to be more active this year Apart from the consensus change plan, the Dogecoin Foundation has several plans to expand further into the cryptocurrency industry. Among these projects are providing DOGE integration to the play-to-win games that have become popular recently, increasing the usage in payment platforms and creating a platform with educational content. Latest situation on DOGE price DOGE stabilized at an average of $0.13 after seeing hard selling in the second half of January. Looking at the short-term price movements, it is seen that DOGE/USD moves sideways in the narrow band of $0.135 – $0.143. Dogecoin was at $0.14 in the morning, gaining 1.33 percent in value in the last 24 hours. The token of the project, which has a capital value of $ 18.61 billion, is in the 11th place in the crypto money ranking.

147 views ·