Maverick Thomas May 15, 2022

Bitcoin Directionless, Struggling for Recovery – Top Trader Looks at $24k

Minning
May 15, 2022

Events continue to roll over in the crypto markets. Bitcoin keeps falling below $30,000, Analysts expect further downward movements. A top trader is even looking at $24,000 as his next target.

Bitcoin is fighting for $30,000

Crypto investors are currently well advised to stay away from the portfolio tracker and enjoy the nice weather. The crypto markets are struggling – as they have not been for a long time. The mood among investors is filled with fear, the “Crypto Greed and Fear Index” is currently even on “extreme fear”.

Where the eye falls: Cryptocurrencies are falling along with it. Thus, Bitcoin has withdrawn a whopping 23.54% within the last 7 days, coming to daily losses of 7.25%. Within the last few hours, Bitcoin has even had to accept a decline below $ 30,000, falling again and again to $ 29,300. A new yearly low for BTC.

Currently, the number 1 cryptocurrency by market capitalization is again trading at $ 31,200. Previously, bulls had been desperately trying to push the coin above the resistance at $30k.

How low can BTC fall now? What development do traders and analysts think is likely?

The much-quoted pseudonymous bestselling author Cheds (@BigCheds on Twitter) there is little hope in this regard. He believes: BTC is now moving to $ 25,000:

Eyes on 25k $BTC https://t.co/cwZOfZcjER

– Cheds (@BigCheds) May 11, 2022

Mr ShardiB is even more pessimistic, looks at $24,000 for BTC. According to his assessment, Bitcoin threatens to fall through the support at $ 28,800. reason: the recent events around (and the total crash of) Terra (LUNA). The trader to his 228,000 followers:

“Sad days friends….. 24k$BTC in focus… doesn’t feel like 28.8k is holding… damn $LUNA“

Sad days friends….. 24k $BTC in focus…does not feel like 28.8k is going to hold… fucking $LUNA pic.twitter.com/11RtRCZ1WF

– Don’t Follow Shardi B If You Hate Money$ (@ShardiB2) May 11, 2022

After all, Rekt Capital keeps a cool head. The popular crypto strategist expresses optimism about the recent crash, suggests: Now is a good opportunity to invest. Rekt Capital:

“Your future #BTC wealth will be built in times like these”

Your future #BTC wealth is built in times like these$BTC #Crypto #Bitcoin

– Rekt Capital (@rektcapital) May 11, 2022

Tip: DeFi Coin with new decentralized Exchange

Investors looking for a little green in the portfolio can hardly find coins with a positive chart performance at the moment. An exception is the relatively new cryptocurrency DeFi Coin (DEFC), an asset from the rapidly growing field of decentralized finance (DeFi). The project has just been achieve a significant milestone and launch its decentralized exchange DeFi Swap. This made the associated token DEFC go through the roof without further ado: DEFC was able to move from an all-time low to an all-time high by 500%. At the moment, DEFC costs 0.43 cents according to PancakeSwap and comes to a 7-day volume of $ 512,000.

How to Buy DEFC Defi Coin?

Step 1: Call Pancakeswap

First, visit Pancakeswap to buy DeFi Coin. Just click on the orange link below, it will take you directly there.

Step 2: Connect Wallet

To buy DeFi Coin (DEFC), you need to connect a wallet to Pancakeswap. To do this, click on the “Connect wallet” button and you can select a wallet. For example, MetaMask or TrustWallet are available.

Then just follow the instructions on the screen to connect the wallet.

Step 3: Buy DeFi Coin

If the wallet is connected, you can invest in DeFi Coin DEFC at Pancakeswap. The most convenient way to do this is to exchange BNB for DEFC. Therefore, you should first have BNB in your wallet if you want to buy DEFC. BNB is available at Binance, for example.

To exchange BNB for DEFC, click on the “Trade” button. A window appears on the right. Here you now have to enter the purchase data.

Select “BNB” in the upper field and “DEFC” in the lower field. This is how BNB is exchanged for DeFi Coin.

Buy DeFi Coin on PancakeSwap

Now you enter the desired amount of BNB, which should be exchanged for DeFi Coin. Then you click on the “Swap” button – and the exchange is carried out immediately.

Last updated on May 11, 2022