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CoinStats Launches AI-powered Exit Strategy Feature to Maximize User Profits

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In a meaningful development for cryptocurrency investors, CoinStats, the all-in-one digital asset management platform, has launched its new Exit Strategy feature. 

Exit Strategy enables investors to plan the ideal selling price of their cryptocurrency holdings directly within the CoinStats app.

As the Bitcoin ETF fever propels the crypto bull market to new all-time highs, it’s becoming increasingly important for investors to take profit from their open positions. The Exit Strategy feature is here to maximize investor profits, by enabling users to set specific selling prices for their crypto portfolio.

New users connecting their portfolio to CoinStats will be automatically prompted to set up this feature and define the target prices at which they intend to sell their coins. Once set, the Exit Strategy feature is always just a glance away — allowing users to seamlessly switch between the portfolio view and the Exit Strategy view to review their target selling prices.

Premium CoinStats users can benefit from Exit Strategy’s AI Suggest — a tool powered by artificial intelligence (AI) designed to predict the Bull Market Price (BMP) of specific cryptocurrencies.

 

 

For investors without an intricate exit plan, AI Suggests leverages cutting-edge AI algorithms to offer peak bull market estimates for their crypto holdings. AI-powered analytics are crucial in the volatile and unpredictable field of cryptocurrency, as they provide an additional data-driven approach to securing profits.

The biggest mistake for most crypto investors is not having a plan, wrote Narek Gevorgyan, the Chief Executive Officer of CoinStats.

 

CoinStats enables over 1 million monthly active users to track and manage their crypto holdings in real time across 300 different wallets and exchanges.

CoinStats is the only crypto tracker on the market that supports all major cryptocurrency platforms and DeFi protocols — including over 20,000 cryptocurrencies, over 1,000 DeFi protocols, and over 70 blockchain networks.





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Nigeria Blocks Access Coinbase, Binance And Kraken

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Nigeria has taken drastic measures in an attempt to stabilize its plummeting national currency, the naira, by blocking access to major cryptocurrency exchanges like Coinbase, Binance, and Kraken.

This move comes as the Nigerian government attempts to crack down on currency speculation amid record lows for the naira.

See Also: Nigerian Currency Depreciation: Central Bank Of Nigeria (CBN) Head Reaffirms Commitment to Reviving Confidence in the Economy

The Nigerian Communications Commission (NCC) issued orders to telecoms companies late on Wednesday to restrict consumer access to websites of major cryptocurrency platforms like Binance, Coinbase, and Kraken. 

As a result, consumers experienced only intermittent access to these sites on Thursday.

Bayo Onanuga, Special Adviser Information and Strategy to the President of Nigeria, took to X to say a local report of the government blocking access to the exchanges was correct.

Cryptocurrency exchanges have played a big role in establishing unofficial market prices for the naira, with platforms like Binance often serving as benchmarks for local foreign currency exchange rates. 

The government’s move to block access to these platforms is an effort to regain control over the currency valuation of the naira.

“Binance, facing regulatory showdown in many countries, and causing disruptions in the currency market, should not be allowed to dictate the value of the naira, not on its crypto exchange platform,” Onanuga further stated. 

See Also: Binance Adopts USDT Price Cap To Align With Local Rules In Nigeria

“Crypto should be banned in our country or else this bleeding of our currency will continue unabated.”

Nigeria’s adoption of rash methods to defend its currency, including shutting down price-setting websites and declaring certain cryptocurrency entities illegal, highlights the challenges the country faces in managing its economic stability. 

Nigeria’s national currency has lost over 70% of its value since their central bank lifted its dollar peg in June.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

 

#Binance #WRITE2EARN



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Bitcoin Target $63,000 By March 2024, Is This Achievable: Matrixport Report

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A new report from Matrixport predicts that Bitcoin (BTC) could reach a target of $63,000 by March 2024. 

In its report, Matrixport identified four key catalysts that could propel Bitcoin to new heights, including the recent approval of spot Bitcoin ETFs, the upcoming halving event, and interest rate cuts. 

Since the SEC greenlighted spot Bitcoin ETFs on January 10, there has been a growing demand for these products. 

Earlier this week, daily spot Bitcoin ETF trading volume amounted to nearly $2 billion, the highest level since the first day of trading on January 11.

As reported earlier, spot Bitcoin ETFs witnessed a substantial influx of approximately $2.3 billion last week, nearly doubling the previous week’s inflow of $1.2 billion.

These inflows accounted for almost half of the total net inflow since the inception of BTC ETFs, which currently stand at approximately $5 billion.

See Also: There Is No Reason to Sell Bitcoin Anytime Soon: Michael Saylor

Bitcoin Halving To Further Drive Bitcoin Price Higher

The Matrixport report noted that the Bitcoin Halving event, slated for 2024, will further drive the price of BTC higher by reducing supply. 

The Bitcoin halving is a pre-scheduled event that reduces the reward for mining new blocks by half, effectively slowing the rate at which new bitcoins are created. 

Historically, halving events have been precursors to substantial price rallies, attributed to the reduced supply of new Bitcoins entering the market.

The report also mentioned that expectations of interest rate cuts following the Federal Reserve’s Federal Open Market Committee (FOMC) meetings could tilt the scales in favor of riskier assets like Bitcoin. 

Lower interest rates typically reduce the appeal of yield-generating investments, making growth-oriented assets more attractive.

Furthermore, the upcoming US presidential elections and policy uncertainty could also affect Bitcoin prices. 

Such periods have often seen investors flocking to alternative assets like Bitcoin as a hedge against potential economic policy shifts.

However, the impact of such political events on cryptocurrency markets is quite complex, making it challenging to make a clear prediction.

Bitwise CIO Sees Bitcoin Surpassing $80,000

Bitwise Chief Investment Officer Matt Hougan also expects Bitcoin to soar beyond $80,000 this year thanks to the recent success of spot ETFs.

In a recent interview, Hougan highlighted the sustained demand for ETFs, which has exceeded his expectations.

He said that this wave of interest from traditional finance, akin to Bitcoin’s IPO in the US market, will lead to further institutional investment and drive up prices.

“Think of the ETF launch as Bitcoin’s IPO in the U.S. market. It has just unleashed a huge wave of interest from traditional finance, and it has exceeded my expectations.” 

Likewise, analysts at investment firm Bernstein expect Bitcoin to resume its upward trajectory, surpassing its previous all-time high of $69,000 and potentially reaching $70,000 this year.

See Also: Bitcoin Exchange OKX Announced The Listing Of Smart Layer (SLN) On Its Spot Trading Platform

The analysts have expressed confidence in the cryptocurrency’s risk-reward profile, stating that no significant challenges are anticipated to impede its ascent.

Meanwhile, Anthony Scaramucci, the founder and managing partner of hedge fund SkyBridge, has suggested that the price of Bitcoin could potentially reach $170,000 in the coming year.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

#Binance #WRITE2EARN





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Reddit Announced Its Bitcoin (BTC), Ethereum (ETH) Holdings

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  • Social media platform Reddit has announced its crypto investment holdings by revealing how much Bitcoin and Ethereum it holds in the crypto market.

In line with Michael Saylor’s MicroStrategy and Elon Musk’s Tesla, Reddit has also announced its plans for cryptocurrency investments, signaling a tactical shift in its financial strategy. 

On the 22nd of February, the social media giant filed for its Initial Public Offering (IPO) with the U.S. Securities and Exchange Commission (SEC). 

As part of the filing, the social media company disclosed that,

“We invested some of our excess cash reserves in Bitcoin and Ether.”

The Story So Far

According to the filing, Reddit has invested surplus funds into Bitcoin [BTC] and Ethereum [ETH] since 2022. As of 31st December, 2023, Reddit held only Bitcoin and Ether in its treasury.

See Also: Nigeria Blocks Access To Coinbase, Binance And Kraken As Naira Falls To Record Lows

The filing further showed that the firm has also acquired Ether and Polygon [MATIC] as a form of payment for sales of specific virtual goods and will continue this strategy in the future.

The company did not disclose the amount of crypto it holds, but added that the value of the assets were “immaterial.”

Reddit said,

“The net carrying value of our cryptocurrencies, primarily Bitcoin and Ether, along with all associated cryptocurrency activities, was deemed immaterial for the periods covered.”

The Potential Outcome

Reddit also expressed its belief in the “significant potential” of blockchain-related technologies, although it remains uncertain about the sustained adoption by both businesses and consumers.

“The popularity and prevalence of cryptocurrencies is a relatively recent trend, and whether cryptocurrencies and blockchain technology will continue to be adopted by consumers and businesses in the long term is uncertain.”

See Also: Winklevoss Twins Donate $4.9M To Support Pro-Crypto Candidates In US Elections

In conclusion, despite the firm’s reported net losses of $90.8 million, the news of its cryptocurrency holdings caused minor price shifts in Bitcoin, ether, and its DONUT token.

Thus, it would be interesting to see how the firms’ experiment with blockchain technology would unfold.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

#Binance #WRITE2EARN



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