Bitcoin reached a cycle high of $55,556 on Wednesday, before retracing to $54,200 by press time
The latest BTC rally pulled the market cap above $2.3T mark and made BTC a trillion-dollar asset
October has brought considerable bullish momentum
Bitcoin continues its stellar performance that started at the beginning of October and has managed to break into the $55,000 price territory for the first time since May. Yesterday’s peak value of $55,556 marks a cycle high and the highest Bitcoin value in the last 21 weeks.
Bitcoin grows by 25% since the start of the month
On October 1, BTC was still trading at $43,800. What followed was absolutely explosive price action, which saw BTC reach a cycle high and gain more than 25% in the span of 7 days.
After a prolonged period of up and down price action, BTC has broken through the $50K level with ease.
On Tuesday, Bitcoin managed to break $50K, however, the price has stayed relatively stable for the next 24 hours, with many people in the community wondering where it will go from here. The answer came in the early hours of Wednesday, when the world’s largest crypto went on a tear and went from $50,400 to $54,700 in the span of three hours. BTC managed to reach over $55,500, before it dipped to $54,200 at the time of this writing.
The total market cap is rapidly approaching new ATH
Amidst the latest rally Bitcoin surpassed $1 trillion market capitalization and increased its dominance rate to 44%.
As Bitcoin accounts for by far the largest share of the cumulative value of crypto assets, it comes as no surprise that the overall market cap increased drastically on the heels of BTC’s latest rally.
The current market cap value of $2.33T is less than 10% away from the market’s ATH.
In the last 24 hours, the market recorded a 5.43% gain, good for a $2.33T valuation. Looking at a 7-day chart, we can see that the market has grown by more than $400B. If the market grows by just half as much as it did over the last week, we will see the highest crypto market valuation in history.
When looking at the chart of the top 100 largest coins by market cap, 93 out of 100 projects are trading the green zone over the last week. Several coins managed to renew their respective ATHs in the last week due to fundamental reasons combined with overall positive market sentiment.
Bulls had the upper hand in the last 24 hours of trading action in the crypto markets. With an over 5% increase in market cap value, the cumulative value of crypto assets manages to break through the $2 trillion mark after falling to $1.82T on September 21. Virtually all coins in the crypto top 100 by market cap are trading in the green zone, with several projects posting high double-digit gains.
Avalanche (AVAX) reaches a new all-time high just shy of the $80 mark
Avalanche has had amazing results in the last 2-month period, increasing by 640% since July 23.
After a few rocky days, Avalanche has rallied to a new ATH price of $79.48 on a 21% gain, before retracing to $76 at the time of this writing. Zooming out and looking at the 3M AVAX chart shows how much success the crypto has enjoyed in the last 40 days, after experiencing a prolonged period of sideways trading action. AVAX is now the 11th largest crypto with a $17.36B market cap value at press time.
Avalanche rally coincides with the announcement of the Avalanche Rush incentive program on August 18, which guaranteed $180 million worth of AVAX to boost the decentralized finance (DeFi) ecosystem. The program has attracted some of the biggest names in the DeFi sector, including Aave and Curve, to launch versions of their protocols on the Avalance platform. The market responded to the news with extreme optimism, quadrupling the value of AVAX in a little over a month-long period. For a more detailed look at AVAX and its future potential, you can check out our latest weekly edition of Top 3 Coins to Watch.
Arweave (AR), Cosmos (ATOM), and Terra (LUNA) are the biggest gainers in the Top 100
19 out of the top 100 cryptos have posted double-digit gains in the last 24 hours.
The top spot on the list of biggest gainers among the cryptocurrency top 100 largest coins by market cap belongs to Arweave, which is a decentralized cloud storage protocol. Arweave uses Proof-of-Access (PoA) and so-called Blockweave technology to build a decentralized network of connected storage devices, which provides a high level of data replication and security without the need for a middleman. The price of AR has increased by more than 26% today, and more than 100-fold since Arweave’s AR token started trading in May 2020.
A similar thing can be said for today’s third-biggest gainer, LUNA, which has started trading in August 2020 and has since grown 150-fold. In the last 24 hours, LUNA has reversed the negative week-long trend, which saw the crypto lose 35% of its volume, by recording a very healthy 23% price increase.
Cosmos’ last 7-days of trading action was akin to a rollercoaster ride.
Cosmos, a Proof-of-Stake (PoS) decentralized interoperability blockchain, has experienced rollercoaster-type price swings over the last week. After reaching a weekly peak value and ATH of $44.31 on September 20, the price of ATOM dipped below $30, a more than 30% drop. In the last 24 hours, however, ATOM recovered much of its losses and is now just 7% away from its ATH.
Crypto market cap is back above $2T, while Bitcoin climbs over $44,000
Following a market drop, which saw the total capitalization value slip by almost $400 billion, from $2.21 trillion on September 16 to $1.82T on September 21, the recent uptick pushes the cumulative value of crypto assets just above the $2T mark.
Bitcoin has momentarily dipped below the $40,000 level on September 22, for the first time since the beginning of August. It wasn’t for long though, as the world’s largest crypto quickly regained some of its lost value and is trading at $44,100 at press time. Although the current market trend, which started on September 7, following a severe flash crash that wiped almost $400 billion in the span of hours, might instill feelings of disappointment, it might be a good idea to take a look at BTC’s long-term performance for a quick refresher.
When the market sours, it is easy to forget how far the world’s biggest crypto has come in just a few short years. Compared to most traditional investment opportunities, BTC is still offering tremendous upside. For reference, the S&P 500 index, which is widely regarded as a hallmark of market efficiency, has increased by 18% year-to-date (YTD), and 103% in the last five-year period.
It is clear to see that cryptocurrencies are becoming mainstream. Everyone is talking about Bitcoin, Ethereum, and even DeFi and NFTs, be it on traditional media outlets or just regular people on the street, crypto is on everyone’s mind. One thing’s certain, we’re currently in the midst of a bull market.
Despite the increase in exposure and adoption, we can easily note that for most people, crypto is still something very new and only a small portion of people can actually understand the most basic principles behind blockchain technology and all the innovations that come along with it.
At the time of writing, there are more than 9,200 cryptocurrencies with a global market capitalization of roughly $2.3 Trillion and an average trading volume of $200 Billion every day. In fact, the market capitalization of Bitcoin, alone, is bigger than the whole Brazilian stock exchange market (B3).
Moreover, new projects and altcoins are appearing every day. DeFi, NFT, Data Oracles, Exchanges, Crypto Derivatives, you name it. New coins and projects are launching on a daily basis and that makes the crypto space even harder to navigate.
So, how can you, the entrepreneur, make your businesses stand out amongst so much massive competition. What can a new project do to excel and stand out in this very competitive environment? The answer is simple: powerful, yet cost-effective crypto marketing!
What are the best cryptocurrency marketing strategies and what really works in 2021?
Website: Your website is like your business’ face. It’s the first contact people will have with your project and first impressions count! As your website needs a clean user interface, it needs to be informative but not overwhelming. Make it short and sweet, straight to point and make sure to have an appealing design. Most importantly, your website needs to provide all the necessary information about your project – whitepaper, litepaper, github links, team information, and so on.
Direct messaging: A one on one approach is still a very important way of making contact and letting people know about you and your business. Actively reach out to people you know and that will support you. Let them know you’re developing a project and get their feedback!
Bring Opinion Leaders On Board: Some crypto influencers have a big following on social media, especially on Twitter and YouTube. Reaching out to influencers and attracting them to your project can really give you a much needed popularity and visibility boost.
Bitcoin and cryptocurrency communities: Crypto enthusiasts are very active on social media, especially on Twitter, Telegram, Bitcointalk forum, Discord and Reddit. There will always be people willing to talk about crypto. That’s an important way to introduce yourself and your project, making first contacts and finding leads to market your project to. Once you find your target audience, it’s very important to create, build and engage your community. A strong community will do your crypto marketing work for you. Most importantly, your community will support, protect, and be an integral part of your project, playing an important role in its success.
Crypto conferences: Long gone are the days of crypto conferences and face-to face networking. Before this whole COVID-19 debacle, cryptocurrency events were extremely popular, especially in Europe and Asia. Many blockchain enthusiasts, investors and entrepreneurs gathered in these events to meet new people. Once these events are back, be sure to hit them up and in the meantime, participate in online conferences and webinars.
Social media and community marketing: Currently, this is the most important marketing strategy for cryptocurrency projects. You have to be very active and on social media, especially on Twitter, Telegram and Reddit in order to build a strong community around your project.
One of the popular crypto communities on Reddit
Press release distribution: To crypto specialized media and to other media providers such as Yahoo, MSNBC, Forbes, NewsWire and others will help you get exposure
Guest interviews and AMAs: just like press releases, having an interview with a prominent expert in the area or with an influencer is an interesting way to make sure that people get to know your project. Usually, the bigger the influencer and his audience, higher the chances to get the desired reach
Display campaigns/ Paid promotion: These can be quite effective especially when you’ve done all of the above. Using your budget wisely is imperative but you will also want to explore any options that can bring you a return on investment (ROI). This includes Google ads, Facebook ads, and, of course, bitcoin ad networks like Bitmedia, A-Ads, Coinzilla etc.
Affiliate marketing: This is an efficient way to create engagement and also fidelity in a community. Giving them incentives to bring new users to your platform works, but be careful, as such practices can often be seen as too aggressive or over the top. Use this tool wisely. Some platforms we just mentioned also offer affiliate programs with up to 10% revenue share rate.
Launching a cryptocurrency project, a DeFi platform or NFT token is not an easy task
The marketing budget can play an important role in your project’s success or failure, however, the best marketing professionals alone are not able to turn a poorly developed project into a big success. The most important thing to do here is to have a high quality team working on the product /project.
Sometimes, it’s also best to leave the hard work to the pros, and hiring an advertising agency can take a load off your plate when it comes to dealing with all the nuances that are involved with cryptocurrency advertising.
The most common ways how to make money in cryptocurrency while playing online games. Learn all about it in the new article.
Simple Ways to Earn More BTC in 2021
According to statistics, the BITCOIN trading volume per day fluctuated around 56.57 billion US dollars during the last month. And during the same time stretch, 272,006 BTC transactions were carried out in total.
And judging by the fact that the value of bitcoin has begun to gradually grow over the past year, finding ways to earn it is a highly demanded initiative right now. Let’s figure out the details of how to earn cryptocurrency almost effortlessly.
5 Ways to Earn Real Crypto
Here are the 5 top most common and hassle-free bitcoin earning tricks:
Play to earn
Yes, there are online bitcoin mining games that enable players to earn cryptocurrency along with gaming achievements. In particular, we are talking about RollerCoin – a free Bitcoin (BTC), Dogecoin (DOGE), and Ethereum (ETH) mining simulator. You don’t even need any extra blockchain knowledge to participate – you simply need to complete missions in a casual videogame.
Have you been wondering how to make money in cryptocurrency? With RollerCoin, you can set up your own data center for cryptocurrency mining, buy the latest equipment and change mining settings to increase the speed of cryptocurrency mining. And you don’t need to go far – just register, log into your account, customize your character, and you are ready to start playing and earning real cryptocurrency at the same time.
The game in which you will learn how to make money with cryptocurrency is in early access right now and it also has its own RLT token, which is used as the foundation of the in-game economy and earnings model.
Try mining
The essential way to make money with bitcoins and other currencies is to start mining crypto. To do this, you need a computer with a powerful graphics card that is capable of ultra-fast computation and block generation.
One of the easiest ways of making money with cryptocurrency via PC is to use the Honeyminer app that runs in the background.
Note that depending on the size of the particular pool you are mining, the load on your PC’s GPU may vary.
How expensive is mining?
The start-up costs of purchasing hardware suitable for mining can be quite high. Thus, Antminer, a popular manufacturer of computing equipment for miners, asks for $199.99 for the S7 ASIC bitcoin miner. And given the fact that you may need about four such devices to get decent earnings, not everyone can afford the initial expenses.
On top of that, you should take into account the associated costs for electricity (powerful computing equipment consumes a lot of resources), as well as for maintenance: buying coolers, repairs, etc. Therefore, this way to earn bitcoins online, unfortunately, is only suitable for those who are ready to invest.
Get online shopping cashback in bitcoin
Ebates is a popular extension for Google Chrome that lets users get cashback for purchases on the Internet. Collaborating with thousands of well-known websites from all over the world, this extension allows you to deposit funds in the form of cryptocurrencies. How to earn bitcoin online even easier?
All you need to do is download the extension, install it, create an account, and enjoy profitable online shopping! By the way, Ebates sends notifications about the hottest promotions taking place in partner stores. This will allow you to spend even less money when buying the desired products or services.
Lolli is a solution used by Sephora, Macy’s, and CVS, that works in a similar way. You can get a cashback of up to 9% from the purchase amount, which can also be credited to BTC at the current exchange rate.
Lastly, a few words about the Pei app. This solution is designed to convert your cashback into the desired currency, be it US dollars, bitcoins, or even gift certificates. The only nuance is that you need to link your credit card to your Pei account to get cashback.
Use affiliate marketing
Affiliate marketing is a very popular way of making bitcoins online for influencers. As a rule, their main responsibility is to post content on their own microblog or website. Affiliate marketing allows them to reference partner offers via backlinks for money.
You can set the conditions for crediting funds yourself and, in particular, offer your partners to pay for your services with bitcoins (as a rule, the monetization format, in this case, occurs according to the pay-per-click model; although you can also agree to receive a percentage of the amount of the referenced customer’s check).
A special case of an affiliate marketing platform is Binance, which provides up to 40% commission for transactions made through your online platform. For bloggers with an audience of several hundred thousand people, this form of earnings can bring tens of thousands of dollars a month.
Participate in auctions
One of the last but not least ways to earn cryptocurrency is bitcoin trading – a perfect solution for those who are interested in the concept of exchange transactions. Nevertheless, in order to make the right decisions, you will have to regularly monitor the spikes in prices, as well as learn at least the basics of conducting stock exchange activities.
For instance, you can start your trading activity with the proven Push Money platform, which has one of the most transparent conditions and intuitive interfaces.
Despite the fact that all of the above methods are good, well-tried-and-tested ways to earn bitcoin online, the most exciting and interactive way is to earn money through the game.
BitMEX has lost an enormous amount of its market, and the exchange’s BTC balances indicate this trend
Two significant events occurred for the exchange that caused many traders to jump ship
The March 2020 cryptocurrency crash and the October 2020 lawsuit against the company were two defining moments for BitMEx
BitMEX was the number one crypto derivatives exchange in the recent past. But now, it has lost first place in the space. Two significant events happened to the business, causing an exodus of traders from the platform. One of them was the massive sell-off in March due to the pandemic crisis.
During the sell-off, the BitMEX platform performed poorly, which frustrated a large part of its userbase. In October, the exchange faced a twin lawsuit from the U.S. government. In response to these events, many traders decided to pull their BTC from BitMEX and go to other exchanges.
A significant decline in market share
BitMEX has a fair market share regarding the open interest for BTC futures. The percentage decreased by around 13% in 2020. BitMEX’s BTC balance has decreased by over 62% since March 2020. Now, BitMEX is far from its glory days and faces many challenges.
According to data from The Block, as of January 17 of this year, the exchange’s total holdings are around 117,510 BTC.
In December, BitMEX completed the process of verifying all of the platform’s users. Previously, anyone could create an account on BitMEX just with an e-mail address. Now, the exchange is looking to comply with regulations and requires every trader to verify their identity.
Ben Radclyffe, the commercial director of BitMEX operator 100x Group, told The Block that despite the obligatory KYC for users, BitMEX experienced an increase in sign-ups recently. He thinks the recent bull-run attracted more people to the crypto world, and now, they want to trade on a regulated exchange.
Radclyffe believes BitMEX has an advantage over the other platforms, and it is the performance of the exchange in periods of volatility like what we see now. He thinks the future for BitMEX is promising, and regulations play an essential role in the future of crypto services.
Paul Tudor Jones is a legendary investor who currently manages Tudor Investment Corp. He rose to prominence in 1987, when he predicted a collapse in the equities markets. Jones also works as the chairman of Just Capital, which classifies US firms based on communal and environmental standards. Jones is a respected figure in the investment world, and many people from across the globe are imitating his strategies.
Jones first entered the Bitcoin market in 2017, but he exited after he doubled his invested. In May of 2020, he started advocating for Bitcoin again. At the time, he discussed the aggressive money printing policies of central banks as a reaction to the COVID-19 and called them the “Great Monetary Inflation”. Jones claimed:
“We are witnessing the Great Monetary Inflation — an unprecedented expansion of every form of money, unlike anything the developed world has ever seen”.
Paul Tudor Jones is bullish on bitcoin
Jones was recently interviewed by CNBC and expressed his bullish instance of Bitcoin. He reiterated that considers BTC as a haven against the quantitative easing policy of central banks. Jones also said he thinks Bitcoin plays an important role in maximizing the yield of his fund. He sees Bitcoin investment similar to investing in high-profile stocks like Apple.
Now, Bitcoin’s price action is in a good position as BTC has made a tremendous recovery from its March lows. PayPal made headlines in October when it authorized its users to purchase, sell and hold crypto. It was a massive piece of news, and it attracted a lot of attention from experts and large firms. After PayPal’s entrance to crypto space, many finance giants have started to take cryptocurrencies much more seriously.
Paul Tudor Jones pointed to the fact that a lot of smart people are in the Bitcoin space. Earlier, he had talked about some fundamental properties of bitcoin, and the scarcity of this currency attracted him. Bitcoin has a limited supply, and only 21 million bitcoins will be available at the end. No one can print bitcoin more than this determined supply, and a central authority does not control it.
Jones has his reasons for suggesting Bitcoin as an investment. He compared Bitcoin to assets like copper and gold, and he even thinks Bitcoin can be valuable than these kinds of assets. We can transfer bitcoin around the world very rapidly, and we can easily divide it into smaller units called Satoshi.
In the interview, he revealed that his view on Bitcoin become even more bullish than before:
“I like bitcoin even more now than I did then. I think we are in the first inning of bitcoin, and it’s got a long way to go.”
Jones thinks the quantitative easing policy and the COVID-19 pandemic will prepare a background for inflation to increase. We’ve seen unprecedented money printing activity by central banks lately, and it will have its consequences. Conversely, Bitcoin is a store of value that has deflationary properties baked right into its code.
