Bitcoin’s fair bottom with terra 2.0 quick launch-Swissblock analysis.
Bitcoin is unable to hold the support level and now trading below it. This is not good for the whole market as BTC is losing momentum. This is no trade zone, the weekend is here and trading volume is dropping. We see a big move on either side very soon. We will see a more clear picture by next week. Bitcoin is currently trading at the lowest possible level before either a high strength and high volume bullish breakout or a complete confirmation of a long term bear market, meaning that the risk is higher, but there’s a high probability of seeing at least a couple of 10-20% moves up from here.
Bitcoin bottom as predicted by the analysts and keen observation of the analysts is going to be another dip. Recently, we have predicted the market crash due to terra disruption that causes huge loss to the investors and the Bitcoin price fell to $29000.Bears are in control now a days and we can see the $23000 mark looking at the on chain data and indicator analysis of swissblock insider .Even due to the disruption of the support, bitcoin’s dominance has not decreased but its at 44% levels showing a great upholding in the market.
Terra 2.0 is officially activated by the team and launched by activating the first block of the blockchain. The terra is on different blockchain and not on fork. Users can do several things including staking on terra station to gain rewards. Talking about the price of the token, the price plunged high after its launch on Hotbit and MEXC exchange but right after airdrop completion, the price got reduced to 60%.
1 Billion tokens to be distributed among the holders.
However, at the press time, Terra’s price dropped to 6.30%. Its trading volume has seen a massive surge of 2408%. According to the Coinmarketcap, its fully diluted market cap stands around $5.95 billion. Meanwhile, the Terra Classic price has almost reduced to stand at zero.
Earlier, Terra announced that eligible users who’ll be getting LUNA airdrop can check their wallets on the new Chain. They need to select the Phoenix-1 network in their browser extension. It also mentioned that the supply of the Airdrop is limited to 1 billion only. Out of which 30% will be allotted to the community pool, 35% will be given to pre attack LUNA holders. While pre attack a UST holders and post attack LUNA holders will be assigned 10% each. Post attach UST holders will get 15% of the airdrop.
Swissblock analysis and bitcoin
In todays swissblock analysis we are going to analyze some of the tokens that have strong technical support with the ability to shoot within few days. SAND- short setup.
While talking about the short term scalp trades, technicals on swissblock trading charts shows that FTM,HBAR,HNT,ICP,IST and IOTA. Please note that this analysis is purely made on the crypto technical analysis that are showing on the swissblock charts. The analysis carried out by swissblock can be easily interpreted and made into action by the swissblock exchange users .
The changing momentum on the crypto tokens price action is precisely integrated and analyzed in the swissblock analysis generator to give accurate analysis of the coins. Banking system along with the exchange has also provided a user based opportunity to make the things easy and in control .Users can easily redeem the cryptocurrency from the swissblock and can spend anywhere they want without the difficulty of hefty amount of fees and commissions.
Swissblock analysis can also be analyzed by looking into the basic learning material in the swissblock academy to better under the terminologies and technical analysis of the trading .Swissblock is always ready to comfort the users with easy and fast transactions.