The one-month stochastic chart for BTC/USD suggests that bitcoin is gearing up for a bull run that could take its price to $35,000. If that is the case, the broader market will follow suit, aided by the impending downturn in traditional markets.
Bitcoin is Nearing a Turning Point
According to Twitter trading influencer Alan, a big bitcoin rally is on the horizon. The world’s largest cryptocurrency, which has been down for quite some time now, is tracing a pattern that resembles the 2014 and 2018 bear markets.
#Bitcoin forms Flag over the previous Flag configuration. Yellow zone form Stochastic indicator shows (at least) second half of the flag, where we are right now.
Next pole low = $35k
Quick rebound always follows a dip.
— Trader Tardigrade (@TATrader_Alan) October 13, 2022
A stochastic oscillator is a momentum indicator heavily used in the stock and crypto markets. It forecasts price turning points by comparing the closing price of an asset to its price range. Although many industry experts have predicted that bitcoin will continue to tumble down this year, the on-chain indicators suggest otherwise.
“The bottom of bitcoin is perfectly repeated with the behavior of RSI-MA (14) in similar downtrend lines, touching points, breakout, retest, and resumption,” Alan noted in a recent tweet.
Bitcoin bottom by RSI-MA, credits: @TATrader_Alan (Twitter)
Investors Find Haven in IMPT
Amid the long-drawn crypto winter, investors are stocking up on solid tokens like IMPT. The green crypto is known for its underlying Web3 ecosystem that connects credible environmental initiatives with businesses and individuals who want to reduce their carbon footprint. Currently in the presale stage, IMPT has raised almost half of the targeted hard cap in just under two weeks.
The crypto community has always welcomed presales of solid crypto projects with open arms. IMPT outshines its contemporaries with a visionary whitepaper and an ambitious, yet realistic roadmap. Its focus on usability and engagement has gone a long way in making it one of the best green crypto projects of our time.
The ecosystem has three elements, primarily:
- IMPT marketplace: A platform where anyone can buy, sell, and retire carbon credits, tokenized into NFTs. Tokenized carbon credits are near impossible to tamper with. The platform is open to both voluntary and mandatory carbon markets.
- IMPT shopping app: An online shopping app that allows anyone to earn IMPT tokens while shopping, which can then be converted to tokenized carbon credits. IMPT has already secured partnerships with high-profile global retailers who will allocate a share of their sales margin for the program.
Did you know that carbon credits can be used to offset your carbon footprint? ?
The #IMPT.io platform allows you to earn carbon credits and protect the environment while doing your regular shopping! ♻️♻️
— IMPT.io (@IMPT_token) October 17, 2022
- IMPT social platform: A social media platform for carbon-offsetting users. Anybody, including businesses, can track the impact of their contributions to climate action using the IMPT score.
IMPT’s ongoing presale proves that the crypto community will support quality projects, despite the ups and downs in the market. The token is predicted to climb by 50X next year.
|Presale – 1
|600,000,000 tokens (20%)||$0.018|
|Presale – 2||660,000,000 tokens (22%)||$0.023|
|Presale – 3||540,000,000 tokens (18%)||$0.028|
IMPT presale overview
Casper Continues to Inspire
Casper broke off from its arduous red trail early in October. Interestingly, the coin has managed to maintain momentum over the last few days. The token has gained 13.0% in the last 24 hours alone (at the time of writing). With a market cap of $510,979,555, it ranks #60 on Coingecko’s list of top cryptocurrencies. It has also been one of the most trending crypto projects for the last few days.
Casper 1-month price chart, 17 Oct 2022, Source: CoinMarketCap
Casper is a fast-growing proof-of-stake (PoS) blockchain that claims to be future-proof. The mainstream adoption of the blockchain and the active networking initiatives launched by the project will cater to its growth in the coming days.
Phala Upturn is not Temporary
Phala Network made the list of hot cryptos during the weekend, after touching an all-time high of $0.46. The token has gained 130.97% in the last seven days.
Phala Network 7D Price Chart, 17 Oct 2022, Source: CoinMarketCap
The privacy-preserving cloud computing service is one of the most promising projects that offer crypto passive income through credible methods. As a result, it is likely to grow its user base and market cap, in turn, in the coming months.