Cryptostreet

  Since the crypto crash , investor interest in digital collectibles like NFTs has waned. In May 2022, interest in non-fungible tokens (NFT) fell to a new low for the year. Research from BeInCrypto and data from Google Trends shows that interest in NFTs has waned rapidly after hitting an all-time high earlier in the year. Interest over time includes the number of Google searches for NFT content and is represented with a value between 0 and 100. A value of 0 or almost 0 means that there is little interest in the topic. On the other hand, a value above 50 means that the term accounts for a large proportion of searches worldwide. The term “ Non-Fungible Token ” reached a search count of 26 in the last few days of May, down 74% from the last all-time high of 100 in January 2022. NFT marketplaces are losing trading volume In January 2022, the monthly trading volume of the major NFT marketplaces hit an all-time high of $16.54 billion. In the last days of May, the total monthly trading vo...

  Billionaire venture capitalist Tim Draper still believes his lofty prediction of a $250,000 Bitcoin price later this year, driven by women. Yes, you read it right. Women will push BTC to $250,000: Draper Tim Draper told veteran crypto trader Scott Melker that he is sticking by his bullish $250,000 bitcoin price target for this year. Despite the recent downturn, the early bitcoin investor is undeterred in his enthusiastic outlook for the number one cryptocurrency. He stated that more women will start using the cryptocurrency and this will significantly broaden the asset's user base. “All of a sudden, all women will have bitcoin wallets, and they will buy things with bitcoin, ” Draper said. Considering that over 50% of wealth in the United States is managed by women, it's not too optimistic when the tech investor says the female faction could help push BTC price to unprecedented heights to drive. Draper also pointed out that retailers currently operating on low profit margins h...

  Exchange OKX has brought McLaren Formula 1 driver Daniel Ricciardo on board as a brand ambassador. This emerges from a press release from May 27th. Accordingly, Ricciardo is said to have an “ambassador role” during the 2022/2023 racing season in a “multi-year partnership” with the crypto exchange. As part of the cooperation, the Formula 1 driver should, for example, provide educational work on trading in cryptocurrencies. "The fan experience will be at the heart of what we do together, so expect big things from us this year," Ricciardo explained. He himself is a crypto fan, according to the press release. "After spending time with Daniel and talking about his passion for crypto trading, it was obvious that he would be a seamless fit for OKX," said Haider Rafique, Chief Marketing Officer at OKX. Other crypto exchanges are also pursuing the strategy of sports sponsorship to increase their reach. In particular, the Exchange Crypto.com is known for its numerous partne...

  With an increase of around 5.5% today, the Bitcoin course starts the new week very bullish. The weekend was also very bullish for the BTC price, which Bitcoin seems to be following today. Bitcoin bounced off golden ratio support again on Thursday and Friday after days of sideways trading and showing bearish tendencies. If Bitcoin now continues its upward movement, it will find the next significant resistance at the 0.382 Fib level at around USD 43,200. Bitcoin also encounters the 50-day EMA there, which serves as additional resistance. If Bitcoin breaks this resistance, it could rally to the golden ratio around $40,000. A little higher, at around USD 40,600, the 200-day EMA is also waiting for the BTC price, which acts as additional resistance. Additionally, the MACD is clearly bullish on the daily chart as the histogram is ticking bullishly higher while the MACD lines are bullishly crossed. The RSI, on the other hand, is neutral. What has to happen for the Bitcoin price to be ba...

  At the end of the last week of trading , Bitcoin was again in the red, setting a negative record. Investors are often misled into thinking that because of such a series, a change and thus a positive week must follow. In fact, there are other indicators that suggest a gradual recovery may begin. These include, for example, the RSI, which reached a value of around 33 points in the weekly chart for the last week of trading and was therefore at the same level as the Corona crash in March 2020. But that alone does not mean anything, because in this context it is more important that no new lows have been reached since May 12th. At press time, Bitcoin is trading at $30,700, starting the week on a positive note. A “ local bottom ” therefore seems possible, although the next Fed meeting in two weeks and a generally bearish sentiment remain as residual risks. So even if Bitcoin should recover in the short term, this does not necessarily mean a long-term change in trend. Bitcoin network is ...