Make Money In Crypto With These Three Ways, Without Investing Much Of It

Crypto is back in the game! Even though months ago, the Bitcoin was in the $3,000s which was very low, today it oscillates somewhere around the mark of $10,000 (even less, under $8500 as of writing), which many crypto junkies find to be satisfying. The reality is that the playing field is still alive.

With all seriousness, this isn’t some get rich quick schemes which are quite common nowadays. But for crypto enthusiasts who are connected to their mobile devices all day, some money can be earned in airdrops and also in bounty programs. The objective: crypto companies are going to compensate you with a couple of dollars ( or in their very own tokens) if you happen to spread the word about that particular company on social media.

Telegram airdrop

For instance, here’s an airdrop for the users of Telegram: CUDOS, which happens to be a cloud computing startup, is currently airdropping tokens in $7 value to those who become a part of their Telegram community. All you have to do for some tokens is to accomplish pretty straightforward assignments, chat with a Telegram bot, and give your info to the airdrop form.

Bounty Types

Startups use two bounty types: the pre-offering one and the post-offering. The pre-offering bounty is carried out before the project is launched, and the main focus is on marketing to attract potential investors. The goal of post-offering bounty is perfecting the project, communicating and building a strong community on social media like Instagram, for example.

The disadvantages of bounties and airdrops is that people can find them difficult to sell them for fiat currency or even Bitcoin. They can even be scams.

Referral Programs

Here’s why referral programs are probably slightly superior to the two before-mentioned ways of making money in crypto; you don’t have to invest any money into these programs. The only thing that has to do be done is to create an account on the crypto exchange, which offers the affiliate program. There are many exchanges who are trustworthy. You have to know that those aren’t startups, but legitimate companies.

When you look at the best 44 crypto exchanges, exactly 26 of them will give you some financial prizes and 18 of them have affiliate programs. VinDAX and Currency are the newest exchanges in the year 2019, and referral programs in which they offer to crypto admirers.

Bitcoin Falls To $9.6K

Before we get into specifics, first, there’s a couple of facts regarding the recent downfall of BTC:

  • Earlier today, the price of Bitcoin fell to $9,600
  • The Bollinger band breakdown meant that the Bitcoin will probably slide to $9,320
  • Something of the utmost importance is that the break above $10,380 is mandatory to neutralize the bearish setup

The recent low-volatility price squeeze of the biggest cryptocurrency right now, the Bitcoin, has unfortunately ended with a downside break which is probably going to result in an August low of exactly $9,320. The BTC has been trading in a quite narrow range, from $9,600 to $10,500 in a span of eleven days to the 21st September of this year. That resulted that the price volatility of the Bitcoin has reached its lowest level in the previous four months last week. The Bollinger bands represent the two volatility indicators which happen to be placed two standard deviations beneath and also above the price’s simple moving average in a period of 20 days.

The period of volatility usually means that a big move on both sides is quite possible. In the case of the Bitcoin, that big move was directed downwards, unfortunately. On Monday, the price of BTC has fallen by exactly 3.38%. That was the biggest loss in one day since the 29th of August, according to the data of Bitstamp. Also, it closed quite beneath the lower Bollinger band.

Today, at the early morning, the price hit a low of $9.6K, and it is trading beneath the lower Bollinger band, right now, somewhere around $9,767. The conclusion is that sellers take the victory this time in a clash with the bulls and a new low will probably happen very soon. At the moment, BTC trades at $9,730. On the 21st of September, the spread between two Bollinger bands has been narrowed to precisely $656. Since May, it hasn’t been that low- it is a squeeze which has resulted in a complete price breakdown.

But, there’s no time for big discouragements, because Bitcoin is aiming to hit the support at $9,320 in the next few days, which is great news. Also, this famous cryptocurrency could find the support at the level of $9,388- which would be at the lower edge of three months of the contracting triangle.

To make the bearish case stronger is the sub-50 reading on the strength index of a period of 14 days. To add, if a UTC close beneath $9,388 happens, it would only confirm an unfortunate triangle breakdown, and it could also yield a deeper sell-off beneath the level of $9,000. That bearish outlook won’t mean too much if the price of the BTC goes above $10,380- which represented the peak of the bullish hammer on September 19th. It is important that a break happens, just above the upper edge of the three-month contracting triangle, which is now at $10,692. That is needed to successfully revive the bullish outlook and bring stability to the greatest cryptocurrency, the Bitcoin.

Is There A Possibility That The Next-Gen Altcoins Will Boom During The Following Crypto Bull Run?

In the duration of the 2017 ICO boom as well as the crypto craze, retail cryptocurrency investors have put faith in new, untested altcoins in search for new dominant crypto like Bitcoin. The BTC represented a revolution in financial technology at that time. But, unfortunately, after the 2018 bear market, those dreams were completely shattered. Also, there’s a possibility that even if the overall market recovers, the promising altcoins may never reach their full potential. Instead, the following crypto bull run will probably be driven by a whole new and rising wave of altcoins that will satisfy the overall hype of the previous ones, but without the negative sentiment. 

Coinbase Is Exploring The New Wave Of Crypto Assets

Yesterday evening, the crypto exchange Coinbase, which is located in San Francisco, has revealed a new and exciting lineup of altcoins they’re exploring as altcoins that will potentially list in the near future. At first, the crypto community was shocked, because the leader of the cryptocurrency industry didn’t pay much attention to a vast majority of altcoin projects that investors were persistent to be listed.

There are some names in the list like the Telegram, and an older crypto-like Filecoin, but the other ones weren’t released and were quite unknown to the general public such as Chia and Polkadot. What’s common for these new altcoins, is that they’re mainly from businesses in the U.S. The before-mentioned crypto, Chia is from San Francisco and led by Bram Cohen, who was also, once, the frontman of BitTorrent.

New Altcoins That Will Outshine The Old Ones

A lot of crypto investors aren’t happy that their preferred tokens form the bubble of the year 2017, weren’t on the Coinbase’s list of promising additions, but the truth is that Coinbase has its focus on where the money is going or where it’ll be. The harsh reality is that the altcoins from last year that were the main topic of many conversations or were then hotly traded are now the thing of the past, simply, forgotten and dying. Of course, there are some incredible crypto’s among thousands of them on today’s market, but the thing is that most of those altcoins will sadly, never be applied to real-life in absolutely any way.

Crypto is really, a speculative market, because the value of the currencies happens to be driven by some future expectations as well as the general hype about them. And also with the fact that the older altcoins of the cryptocurrency market that are plagued by bagholders who happen to be prepared to dump their assets, as much as 99%. Also, if there were any indications of a price rise, they could never revisit their previous setbacks at the hype bubble height. 

Because of these factors, there is a good chance that the newly-introduced, fresh altcoins are offering hype and potential, are going to outperform every older altcoin in the duration of the following bull run. 

Bitcoin’s $780 Price Recovery

First, you’ll be introduced with some major facts about the recent price recovery of the most known cryptocurrency, the Bitcoin, and then you will get to know the details surrounding this topic. Here is some important information regarding the rise of the Bitcoin:

  • Just yesterday, the most famous cryptocurrency in the world, Bitcoin has made a bullish hammer candle, meaning that today’s UTC close was pivotal. Also, a close just above $10,380 will probably make some very strong buying pressure and will be essential for the rise to $11,000, which is fantastic.
  • If Bitcoin doesn’t manage to hold above 10,000 in the following day, then it could likely fall to $9,600, which was the price from Thursday.

BTC’s remarkable $780 recovery after being at $9,600 for 18 days has surely neutralized the bearish setup. On the other hand, follow-through is a must to put the bulls back on track. Bitcoin, the number one cryptocurrency, currently, by market value, has picked up a bid which was approximately $9,600. That was the lowest level of the BTC since the 1st of September. That was on Thursday by the Asian Trading hours, and it has risen to the satisfying price of $10,380 in the trading hours of U.S.A. That swift recovery kept the bulls in action, as Bitcoin was looking quite fragile beneath the key support of $9,855.

The rise of the price from $9,600 to $10,380 formed a candlestick-like shape, also known as the „bullish hammer.” This pattern can be seen when an asset makes the large early drop disappear to the end of the day on a highly positive note at or somewhere close to the high of the current day. This Thursday, the price of Bitcoin has fallen in a significant manner to $9,600, only to rise to $10,380 before it printed a UTC close right around at $10,271. When a hammer is seen, then it is considered to be an early warning that a rally will happen soon. Nevertheless, traders have a tendency to wait for a quite strong follow-through before they make their bids on the cryptocurrency market. The follow-through should be a UTC close which is just above the high of the hammer candle.

Right now, the main focus happens to be on today’s UTC close. At the moment, Bitcoin is changing hands at around $10,140 on Bitstamp, and it has also made a $10,208 high just earlier today. Bitcoin has made a continuation pattern, the bull flag. If a breakout was to be confirmed, it would without a doubt mean that the rally from $9,600 will resume and it will make some space for a rally to $10,950. The chances that a Bitcoin is going to print an impressive close above $10,380 would rise in a situation where the flag will end up with a bullish breakout.

Although the close above $10,380 will mean a good thing for the BTC, a complete revival of the bull needs an upside break of a contracting triangle in a period of three months. The upper-triangle edge is at $10,822, while the lower edge is at $9,450. That lower edge could possibly go into play if BTC closes beneath the level of $10,000, as of today.

Why Did Tether Volume Hit It’s All-Time High?

In the previous year, China has a made a decision to ban every local fiat-on-ramps regarding the crypto exchanges and Chinese traders are successfully improving the market with the help of the USDT, which happens to be a dollar-pegged stable coin Tether. Usually, traders deal with banking restrictions with the assist of the stablecoins. CoinMarketCap has reported that the USDT hit an all-time high this August. It has successfully exceeded the global market cap of a massive $4 billion. In the reports, it is written that the USDT is used somewhere in between 40%-80% of basically every transaction, particularly on the popular exchanges such as Binance and Huobi. Currently, Binance offers loans which happen to be based on the collateral of Tether.

Tether – USDT – ₮

This asset is extremely popular with the so-called over-the-counter traders, but it is fair to say that the exchange volumes don’t really depict the whole current situation. Blockchain data from CoinMetrics has detected an all-time high this year on the 7th of August. There were over 78000 wallets for the Tether and over 21000 wallets for USDTe, which is based on Ethereum. USDT has spent a whopping amount of $261000 in fees to ETH mines in order to get permission to run this lower-level version of the stablecoin.

When you look at everything, the Tether brokers have established a fruitful niche in the year 2019, especially the ones who ensure flat liquidity. A Chinese investor said that the Tether has above-average liquidity in China. Also, two over-the-counter traders have said that the vast majority of their tractions happens to come from Chinese clients, who use Tether to move their personal assets far beyond their homeland’s capital controls, which are quite strict.

Experts say that this recent burst in USDT usage might be the fact that there’s a fair chance for a bull market return. The over-the-counter traders ensure the before-mentioned fiat-on-ramps to Tether. This has been known to be a gray market in China. The next step for the Chinese traders would be to use Tether in order to liquidate their portfolios on global exchanges such as Binance for example. This has really made an impact on the Bitcoin market because exchanges and traders often use the Bitcoin for fiat liquidity beyond the over-the-counter. Bitfinex and Kraken offer those BTC trading pairs. 

A Hong Kong trader has said that billions of dollars come out of the borders of China that are not related to capital controls. For instance, the FTX crypto market in Antigua that was established in April 2019 facilitates $50-$300 million on a daily basis. The CEO Sam Balkman-Fried told that the boost 10000 FTX users hail from China, and every last one of them is served from Hong Kong.

The asset’s solid stability this year, oscillating only a couple of cents this month despite the fact that the spike in demand seems quite incredible given the fact that this particular stablecoin isn’t really backed one-for-one by USD. Also, the sister company, Bitfinex, is in legal trouble from misuse of Tether to cover some substantial losses of the company.

Tether official page

Current Ethereum Price Status

Right now, the price of Ethereum is trading in a bearish zone compared to these two well-known currencies, one being the USD and the other Bitcoin. First, some relevant facts regarding the current status of the Ethereum price:

  • The price of Ethereum has suffered a downfall recently breaking the supports of $180 and $185 when compared to the U.S currency.
  • Right now, the price is close to the resistances at $172 and $175.
  • There is a slight possibility that a short-term upside correction can happen, but the more likely end-result would be that the outcomes will be capped at around $180.

ETH Price Analysis

Looking at the previous week, a major decline has happened in the most popular cryptocurrency, Bitcoin and Ethereum are just beneath $10000 and $180 respectfully when you compare it to the USD. Ethereum price has also hit a new low below the support of $175 and the 100 SMA, which stands for the simple moving average. Furthermore, a break happened beneath the support of $170, and also the ETH price has traded near the level of $163. For a couple of days, the price began a solid upside correction from the swing low of $163.

The price has successfully risen above the level of $170, adding the Fib retracement level of 23.6% of the most recent fall. The drop had happened from the high level of $195 to the low level of $163. Nevertheless, there are many obstacles close to the levels of $178 and $180. Additionally, a massive bearish trend line which formes close to the resistance of $180. That bearish trend line has almost come to the Fib retracement level of 50% of the most recent drop which had occurred from the high level of $195 to the swing low level of $163.

Just above the current trend line, the following significant resistance happens to be close to the level of $184 and the 100 simple moving average.  A whole new Fib retracement level of 61.8% of the most recent drop which happened form the quite high level of $195 to the low level of $163. The before-mentioned Fib retracement level of 61.8% is waiting close to the resistance zone of $182 to act as a type of resistance. So, the price really has to climb somewhere above $184, $182 and also $180 to go back to the positive zone as soon as possible.

But, the current disadvantage is that immediate support is very close to the level of $165. In a situation where the price of Ethereum doesn’t go above the support area of $165, there’s a big chance that there will be more downsides. In the before-mentioned bearish situation, the price of Ethereum could suffer a new low somewhere below the support level of $160.

At the moment, the ETH price happens to trade in the bear zone beneath the level of $180, but if somehow an upside correction occurs close to the level of $180, then the bears will surely defend the following upsides.