As many as 41.4% of cryptocurrency investors are crypto newbies, and 60% of them declare they have invested between USD 2,500 and USD 5,000 in crypto, according to the results of a recent survey by alternative investment firm Invictus Capital.
“Today’s investor resembles a 35-year-old German engineer named Günther. He derives his crypto investing information from YouTube, because he values learning how to generate high returns on his investment more than the idealism of cutting out the middleman,” the company said in the survey’s summary.
They are referring to the finding that the country with the highest percentage of surveyed alternative investors was Germany, at 14.1%, followed by the US and Spain, with 7.7% and 6.8%, respectively. The UK and Turkey were ranked fourth, both at 4.8%.
Furthermore, the survey indicates crypto investing is dominated by those aged 31-45, with 41.8%, while respondents aged 25 and below represent 25.1% of the total. Investors aged 25 to 30 hold a 22.9% share, while those aged 45 and above represent only 10.2% of the total.
The survey collected answers from some 3,473 respondents spread across a total of 60 countries. Ofir Sever, a PR spokesperson for Invictus Capital, told Cryptonews.com that the survey’s focus was to determine the modern investor profile, media consumption habits, crypto investing sources, as well as investing habits. The survey was carried out online last February and March, and it targeted investors.
Data was sourced from respondents with access to high-speed Internet, with a significant share of responses from the European Union’s member states and Asian countries, according to the spokesperson. Mobile users provided 94% of the responses, with desktop and tablet users generating a further 5.5% and 0.5%, respectively.
The average sum invested in crypto is reported to be USD 2,500 – USD 5,000, with 60% of those surveyed marking this option. 40% also reported investing USD 100 – USD 2,500, while more than 30% of the respondents have also made investments under USD 100.
With regards to the respondents’ professional profiles, engineers lead the way, at 12.5%, followed by tradesmen and lawyers, both at 9.6%, and finance professionals with 8.6%. Among the listed professions, IT is at the bottom of the list, with 1.6%.
The survey’s summary further stated that:
68% said high returns remain a motivation;
54% see crypto investing as a method to future proof their money;
25% invest to mitigate dealing with middle men;
50% noted high fees on exchanges, quality, and volume on exchanges as the biggest challenges they faced.
And speaking of exchanges, 69% of surveyed investors listed Binance as their exchange of choice, followed by Coinbase with 42.6%, and Kraken with 13%.
74% of the surveyed individuals chose YouTube as their preferred social channel.
Meanwhile, almost 40% percent of respondents said that they invest on a weekly basis, 34.3% said they invest monthly, and 7.7% said they invest once a year, Invictus Capital concluded.
Despite the best efforts by bulls for what has been several weeks now, Bitcoin price can’t seem to get back above $60,000 and spend any meaningful time above it. Fundamentals are as bullish as it gets for the top cryptocurrency, but bearish technicals might have finally caused sellers to step in.
BTC/USD 4-hour chart | Source: TradingView
Bitcoin price bull run on the ropes as technicals face off against fundamentals
Bitcoin price has had its best year on record yet dollar for dollars and fundamentals, the stock-to-flow, and just about all other data suggests that the bull run isn’t near finished yet.
Technicals have been long overheated given the strength of the showing by bulls, leaving a large string of green monthly candles on the price chart without any serious corrective behavior. The once trending strong cryptocurrency has begun to slow, struggling specifically with anything around $60,000.
Indicators such as the logarithmic MACD are turning down on weekly timeframes for the first time since the bull phase began, and the quarterly candle just closed with the first-ever bearish divergence in history. Yet the top cryptocurrency hasn’t corrected anywhere near it has in the past.
At press time, Bitcoin unexpectedly turned around to increase more than $ 2,100, while the top cryptocurrencies also increased sharply, pushing the total market cap to $ 1,980 billion.
Over the previous 24 hours, Bitcoin’s price traded as low as $ 55,758 billion and as high as $ 58,231 billion. Trading volume reached 53 billion USD, capitalization increased sharply to 1,088 billion USD.
Many other cryptocurrencies also climbed following Bitcoin such as Ethereum up 4.7% to $ 2,094, Binance Coin up 9% to $ 418, XRP up 10.9% to $ 1.05, Cardano up 2.5% to $ 1.22. , Polkadot increased 3.6% to $ 41.7… As a result, the total market capitalization reached 1,980 billion USD, up 4.2%.
Bitcoin’s price has risen sharply since the beginning of the year, thanks to increasing interest in the cryptocurrency market by businesses and financial institutions. Many other large investment institutions also announced that they are considering investing and accepting the currency as a form of payment. Private bank Donner & Reuschel of Germany announced it will provide crypto buying and depository services to its customers.
JP Morgan Bank predicts that Bitcoin can reach a theoretical level in the long term of $ 146,000 when it starts to compete with gold.
According to Citibank analysts, the digital currency price could reach $ 318,000 by the end of this year. Strategist Mike McGlone suggests that Bitcoin could be traded for over $ 400,000 by 2022 if the market follows previous trends, which we have seen throughout 2013 and 2017.
The information has continued to give investors an optimistic view about the future of Bitcoin in particular and the crypto market in general.
The city of Jackson is shaping up to be Tennessee’s cryptocurrency hub. In the coming weeks, Mayor Scott Conger will form a blockchain task force to explore how to adapt the novel asset class.
Following Miami’s example, Jackson mayor Scott Conger plans to integrate cryptocurrencies into his city
Conger told that his plan is to encourage the use of cryptocurrency by incorporating it into the city:
“The plans are very simple right now. We want to encourage the use of cryptocurrency. I want to get people with a much greater knowledge of blockchain, than myself, in the room to discuss how we can incorporate cryptocurrency into our city.”
In 2020, Tennessee state representative Dennis Powers introduced a bill that calls for an in-depth study of blockchain technology, focusing on its use cases in banking, payments, lending, and other industries.
Jackson is the eighth largest city in Tennessee, but the rest of the state might be tempted to follow its lead due to exploding cryptocurrency adoption. Last week, the Bobby Hotel, one of the most popular hotels in Nashville, added cryptocurrency payments, a first for the state capital.
Conger says that he is taking pointers from Miami Mayor Francis Suarez, who is determined to refashion the South Florida city as the world’s biggest Bitcoin hub.
In February, city commissioners voted to explore Suarez’s proposal to pay municipal employees in Bitcoin and invest a portion of the treasury into the cryptocurrency. Should they proceed with the audacious plan, Miami would easily become the most crypto-forward city in the U.S.
In a March interview, Suarez also mentioned that he wanted to turn Miami into a Bitcoin mining hub, offsetting China’s dominance in the industry. Meanwhile, crypto exchange FTX recently scored a deal to rename Miami Heat’s AmericanAirlines Arena to FTX Arena.
Bitcoin broke past the $60,000 mark on March 13, 2021, to surpass Facebook in total market value. To learn more about this and other stories, keep reading this article.
Bitcoin Hits Over $60,000 and Surpasses Facebook in Value
On March 13, 2021, bitcoin recorded a high of $61,683.86. This is yet another milestone that the cryptocurrency has achieved after recording a series of several all-time highs in the past three months.
Institutional investors continue to boost bitcoin’s price with Chinese firm Meitu being the latest company to purchase crypto. The firm bought $22.1 million in ether and $17.9 million in bitcoin.
“Beeple’s $69 million [non-fungible token] record demonstrates the true power of crypto, adding curiosity and fuel to the retail fire. Expect volatility but a landing of $100K levels by Q3,” said Jehan Chu, Managing Partner of trading firm Kenetic.
Furthermore, bitcoin’s market cap has risen to the eighth position, surpassing Facebook. Currently, bitcoin has a market capitalization of about $1.07 trillion while Facebook has a market cap of $808.76 billion.
Luno Users Can Now Earn Interest on Ether and USDC Savings
Luno users can now add ETH and USD coin (USDC) to their savings wallet where they can earn 4 percent and 7.6 percent APR, respectively. The exchange introduced the savings wallet five months ago allowing users to earn up to four percent on their bitcoin savings.
“The addition of two new cryptocurrencies to the savings wallet gives customers even greater flexibility and potential to earn interest as they grow their crypto savings. A high percentage of Africans who own cryptocurrency do so for speculative investment purposes, with the majority holding their crypto for the long term. If your crypto investment strategy is holding your crypto long-term, the savings wallet earns you additional interest for what you were already doing,” said Marius Reitz, the General Manager for Africa, at Luno.
According to a Luno 2020 survey, more than a third of the respondents (35 percent) were not earning interest on their traditional cash savings. On the other hand, 54 percent were not earning interest on their current bank accounts. As a result, Luno wants to change these statistics with its crypto savings wallet.
The savings feature pays out interest monthly and users can access their savings 24/7. Moreover, 250,000 people are using the savings wallet since its launch.
South African Company Invests in Bitcoin
It is not large companies alone that are investing in bitcoin. According to an article on Tech Central, open-source software firm LSD Information Technology has purchased R2 million in bitcoin (about $135,570.70).
The company’s board agreed to invest in the digital asset on January 4, 2021. In the initial purchase, it bought R1 million in bitcoin then bought the other R1 million over the next two weeks. The firm used the crypto exchange BitFund to buy and hold the BTC.
“Our vision is to make the world more open, and bitcoin supports our philosophy on how we believe the world works best. Working in the open-source space seems to attract many crypto enthusiasts for whom the decentralised open nature of cryptocurrencies appeals,” said LSD founder and CEO Stefan Lesicnik.
The firm participates in running and maintaining bitcoin full nodes.
If you thought you’d read all there was to possibly read about non-fungible tokens (NFTs), think again, because a Spanish platform giving out hundreds of USD worth of crypto to Pokémon Go-style augmented reality (AR) hunters – as part of a plan to sell NFTs.
Per La Voz de Galicia, residents of Viga, a city on the northwest coast of Spain, the project is part of a promotional campaign from a firm named OVR, which calls itself an “open-source, decentralized augmented reality platform.”
To drum up interest in the token, the media outlet reports, the firm has placed NFT “treasure chests” containing varying amounts of its Ethereum blockchain-based OVR tokens at strategic points of the city. Would-be participants are obliged to make use of a designated app, and must also connect via their social media profiles.
And just as was the case with Pokémon Go around a decade ago, “treasure hunters” armed with the OVR app on their smartphones can roam around the city in pursuit of the chests.
A local blockchain business leader named Antonino Comesaña was quoted as stating,
“I went hunting with my six-year-old son. We found chests full of 100 tokens and we made two or three dollars a day. But the price has risen and we managed to get up to […] USD 475 euros one morning. I have given them to my son so he can save them.”
“Veteran” hunters, however “only get one award per day” as “they want to encourage new people to play to promote the use of their cryptocurrency,” Comesaña added.
But it appears that gaining attention for the token is not OVR’s only goal. The media outlet added that the app divides the city up into 22 quadrants, and offers advertisers the chance to place AR ads at points around the city, in a further bid to catch treasure hunters’ eyes. This, it said, can be done by buying OVR-issued NFTs.
One advertiser paid “between and USD 1,783 and USD 4,753 for 22 AR NFT “billboards” at and around the 29,000-capacity Balaídos Stadium, the home of Celta Vigo, the city’s La Liga football club. Other popular spots for treasure hunters include the Alameda de Bouzas park, the Príncipe commercial district and the Vigo Maritime Station.
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
USD 48bn hedge fund giant Millennium Management invested in Grayscale Bitcoin Trust (GBTC), TheStreet reported, citing two undisclosed sources familiar with the matter. “While the price premium GBTC long traded at against bitcoin collapsed recently, it’s unclear if New York-based Millennium booked any losses on the crowded trade,” the report added, without providing any numbers about the investment.
Jamie Dimon, the CEO of JPMorgan, placed the legal and regulatory status of cryptocurrencies on a list of “serious emerging issues that need to be dealt with – and rather quickly.” Per a letter to shareholders, others such issues include the growth of shadow banking, the proper and improper use of financial data, the risk that cybersecurity poses to the system, the proper and ethical use of AI, the effective regulation of payment systems, disclosures in private markets, and effective regulations around market structure and transparency.
A collective of Russian crypto and blockchain players has launched a bid to convince politicians not to pass restrictive a new set of crypto laws, per Izvestia. The new campaign has been masterminded by the pro-business pressure group Investment Russia, the law firm the Digital Rights Center and the public organization RosKomSvoboda, a body that claims to support open self-regulatory networks and protection of digital rights of Internet users. The campaign addresses the country’s finance ministry, Duma financial chiefs, tax bodies and the Central Bank. A manifesto calls for amendments to draft laws that the parties say “will have an extremely negative impact on the Russian crypto industry” if they are adopted.
Latvian airline airBalticsaid that it will become the world’s first airline to issue non-fungible tokens (NFTs). The airline will issue limited collector NFTs showcasing an individual Airbus A220-300 with its registration and a piece of art of the Kuldiga city to promote tourism and Latvia in the world. Starting with Kuldīga, the cities and towns which were voted as the people’s favorites will one by one be represented on the digital art pieces issued by airBaltic. The initial drop of the first airBaltic limited NFT will be announced later in April.
The seven-time Super Bowl champion Tom Brady is launching an NFT platform called Autograph this spring, CNN reported, citing a representative for Brady. The platform “will bring together some of the biggest names in sports, entertainment, fashion, and pop culture to work with creators to develop unique digital collectibles,” it added.
Blockchain technology company Ebang International Holdings Inc.announced the official launch of its crypto exchange for qualified investors to register and trade on. This launch will “not only expand the revenue sources from our cryptocurrency business but also optimize the development of our blockchain industry chain,” said the company Chairman and CEO Dong Hu.
bitFlyer has gotten their third president in two years. The new president is Goldman Sachs alum Kuniyoshi Hayashi, who replaced the outgoing President Kimihiro Mine on March 30, they said.
ShapeShift announced support for simultaneously connecting multiple wallets. Per an emailed announcement, users can switch between KeepKey, Trezor, Ledger, Portis, and ShapeShift mobile wallets on the ShapeShift web platform, without needing to reconnect. Support for additional wallets is coming soon, they said.
South African crypto exchange iCE3said they “will not return to operation” and that they “have been advised to initiate liquidation proceedings.” “All withdrawals from the platform have been disabled, and we have processed the withdrawals which have already been submitted via the form today, manually. We currently have no withdrawal requests pending for any currencies other than BTC and LTC,” they said.
Coinme, a US-based cryptocurrency cash exchange, announced its entrance into Florida with the launch of over 300 bitcoin-enabled Coinstar kiosks located at select Winn-Dixie, Fresco y Mas, Harveys, and other grocery outlets across the state.
The Miami HEATsaid it has entered into a long-term partnership with crypto derivatives exchange FTX.us, making this platform “The Official and Exclusive Cryptocurrency Exchange Partner of the Miami HEAT.” This deal works in tandem with the recent announcement that, starting with the 2021-22 NBA season, the home of the Miami HEAT will be known as “FTX Arena.”
Chinese online lottery company 500.com has acquired Bee Computing, a Hong Kong-registered maker of Bitcoin mining machines, in a USD 100m deal, according to a filing with the US Securities and Exchange Commission (SEC). 500.com will pay Bee Computing USD 35m in stock by the end of the second quarter and send the other USD 65m worth of stock after the company has produced a certain number of 7nm ASIC bitcoin mining machines, as well as made higher performance bitcoin, ethereum (ETH), and litecoin mining machines.
Crypto adoption news
A new deal with the Valencia-based crypto exchange Criptan will allow Spanish travelers to make claims for airline-related delays and other incidents – and receive crypto rather than fiat as compensation. Per El Mundo Financiero, the exchange has teamed up with the Wings to Claim platform. The parties will allow travelers to make claims from travel agencies or airlines in situations whereby customers experience delays of three hours or more, lose baggage, if their flights are canceled or overbooked, or if they miss a connecting flight.
Daegu, one of the largest cities in South Korea, has introduced a blockchain-powered ID authentication system for users of its online and offline public services. Per the Daegu Shinmun, the new platform makes use of a smartphone app that allows users to reserve city-operated facilities, make use of city-funded electric scooters and borrow library books using blockchain-based innovations. In a separate development, Law Issue reported that the electricity provider Nambu Power will also make use of blockchain-powered ID solutions on its renewable energy certificates platform.
Michael Hlady pled guilty before a US Chief District Court Judge to conspiring to extort a startup company for millions of dollars in ethereum. When sentenced, Hlady faces up to 20 years in prison, as well as a fine, said the US Department of Justice. The startup was a mobile-based business that issued cryptocurrency as loyalty rewards for generating user traffic to its clients’ products. Hlady and his co-conspirator Steven Nerayoff issued threats to the company executives that included destruction of the company if they did not agree to demands for additional funds and tokens, claims the press release. As a result of this threat, the startup transferred ETH 10,000 to Nerayoff. He has entered a plea of not guilty to extortion charges and is awaiting trial.
Bitcoin fell by a sharp 4% so far today as it dropped as low as $55,600. The cryptocurrency had started the month with another attempt to breach the $60,000 benchmark level. Unfortunately, it was unable to overcome this resistance through the week as it set a range between $60,000 and $57,000.
Today’s price drop caused bitcoin to break beneath this range as mentioned above. As of writing these lines, and as seen on the following 4-hour chart, it is currently holding the critical support around $56,200 – $56,100, provided by a short-term .382 Fib and a 4-HR 200 moving average line.
BTC Price Support and Resistance Levels to Watch
Key Support Levels: $56,200, $55,600, $55,000, $54,675, $54,200.
Moving forward, if the bears push back beneath the current support at $56,200 (MA-200 on the 4-hour chart), the first support lies at today’s low around $55,500 (which is also a descending trend-line started forming towards the end of January).
This is followed by $55,000, $54,675 (.382 Fib), and the critical level of $54,200 (50-days MA). This last support is further strengthened by an ascending trend line that has been in play since early March 2021.
On the other side, if BTC price will hold here, the first resistance now lies at the daily MA-20 around $56,800. This is followed by $58,355 (February highs), and the crucial area of $60,000. The latter had been rejected at least 5 times over the past month.
The daily RSI has now crossed beneath the midline, indicating bearish momentum has taken control within the market, in the short term. This comes after the RSI produced a bearish divergence signal earlier in the week as we mentioned here in the previous price analysis.
Late last week, stockmarkets were rattled as the share prices of a handful of big-name tech and communications stocks – including Chinese tech giant Baidu and US media group ViacomCBS – plunged, as huge blocks of their shares were sold into the market. It turned out that a family office called Archegos Capital Management, run by former hedge-fund manager Bill Hwang, had run into trouble in the wake of a “margin call” (see below) from its lenders, triggering the sale of more than $20bn-worth of shares. So what happened, and is it anything that you need to worry about?
Archegos’s problems appear to have been triggered by ViacomCBS specifically. Between the start of the year and 22 March, shares in the media conglomerate almost tripled in value. Viacom decided to take advantage by issuing new shares. The share price fell, partly because existing shareholders would be diluted, but also because it had already seen such extraordinary gains, and no doubt some investors were looking for excuses to take profits. The decline appears to have triggered the margin call, and the resulting share sale exacerbated the decline.
The cryptocurrency world is exciting, and there are a plethora of crypto exchanges out there, which makes our task of crypto management tougher. This is where a trading terminal that connects with multiple exchanges comes as a time savior.
Today, you will learn about Atani which is one popular desktop based trading terminal that anyone can use it for free.
What is Atani:
Atani is a trading app that lets you trade on multiple crypto exchanges (22+) from a single app. You can trade like a pro with advanced orders: Stop Loss, Take Profit, OCO, and more. Atani is fully non-custodial, and they don’t have access to your funds or API key. The app connects with a crypto exchange using the API key. In the further section of this review, I have shared how to use the Atani app.
ATANI was founded between London, Madrid and Barcelona in 2019 by Paul and Haydée Barroso to address the frictions and inefficiencies associated with navigating the crypto ecosystem. Paul and Haydée are not only siblings, but also early investors in crypto.
They got into Bitcoin in 2013 and have been actively involved in the ecosystem ever since. Over the years, they have experienced the whole roller-coaster of emotions of the crypto market and have suffered first-hand the growing pains and frustrations that go hand in hand with managing crypto, trading on multiple exchanges, using different crypto-related services, interacting with decentralized protocols, or dealing with taxes.
They could not understand why it was so complicated to invest in crypto, and the lack of better alternatives drove them to build their own solution. That first platform was the genesis of ATANI, and now they are on a mission to deliver the best crypto experience ever and share it with the world.
Features of Atani:
Before we look into the walkthrough of Atani, let’s have a look at some benefits and features of Atani.
Desktop app: Atani is available for all popular desktop operating system, and they do have watch only mobile app as well.
Trading Terminal: You can trade on over 20+ exchanges using Atani app.
Real-time Price Alert: You can set price alerts to get notified via push notifications, SMS, email or call. This is a golden nugget for serious traders.
Non Custodial: The platform is non-custodial, and API keys are encrypted and stored locally on your device leveraging military-grade encryption (AES-256). In the unlikely event that Atani gets hacked, attackers would not be able to access your funds.
Tax reporting: Atani automatically analyzes the history of spot trades at connected exchanges and generates an audited tax report that can be downloaded in just one click.
Free: At the time of writing this review, Atani is completely free to use. In the future, they plan to introduce a freemium model (ex: Spotify).
How to start using Atani?
Getting started with Atani is simple, and you need to download their app from the downloads page.
Once you have installed the Atani app, create an account and you will be greeted with this screen. You can connect with your existing exchange or simply add those whose market data you want to see.
After selecting the exchange, click on next. At this stage, you can either connect with your exchange using an API key or you can do that later.
If you are new to API keys; you should check out this video to understand how to create an API key on Binance exchange. The process is more or less the same for other exchanges:
Once you have generated an API key, simply add the API key for the specific exchange in the settings, and you should be able to use the trading feature.
You can always connect your exchanges later on by going to the exchanges tab. This is ideal for curious users who want to check out the terminal of Atani before connecting with their exchange.
Next is to select the tax report’s settings, where you need to select your country of tax residency, and it will fetch all the past transactions to generate the tax report.
Click on next, and you will access the Atani trading terminal. Now, before you take your first trade, I recommend you to go to settings > Security > Backup Device sync and create a backup of the code.
You can use your backup code to use ATANI on multiple devices (sync your accounts) and to recover your account if you can’t access Atani (broken or lost computer, reboot…). It allows you to make a device sync.
Note: You can always toggle between Dark theme and light theme from settings.
Interface of Atani:
Atani interface is easy to get started for a beginner and a pro user.
On the left side, you could see the currency pairs, and you can mark them favorite to see your favorite pair under the favorite tab. The chart is powered by our favorite TradingView, so now you have one less website to navigate when using Atani.
The portfolio tab is where you can see your past trades and all open trades. Here you will also be able to generate tax reports. Though in my limited experience of Atani, I believe the portfolio tab could be improved, and closed/open trades should get a separate tab altogether. By clicking on exchanges, you can connect with any of your favorite exchanges for trading or just to see the chart.
Now on the right side, you will have quick access to your portfolio. You can see a consolidated portfolio or you can select an individual exchange to see the portfolio on that.
Below that you have the option to take a trade. There are various advanced order types are available, which would make your trades more profitable.
Here you will also be able to see your open trades, and you can make quick changes according to changing conditions.
Overall, Atani would help you save time between switching from one exchange to another for taking trades and help you bring everything within one app. Especially for those who are looking to trade from their desktop, Atani is a splendid solution.
Conclusion: Atani Review
As a non-custodial desktop-based trading tool, Atani seems to be doing a wonderful job. Real-time price alerts would ensure that you don’t miss out on any important trade and make more profit.
I would like them to see adding option to connect with multiple Binance accounts, which is currently limited to one. The mobile app is in progress, so it’s just a matter of time we should be able to use the Atani mobile app. Overall, as a crypto trader you are going to enjoy using Atani app.
Let me know which other desktop trading app are you using? Let me know your feedback and review of Atani app in the comment section below. If you find this review useful, do check out our other reviews to level up your crypto trading game.