Bitcoin Consolidates as DeFi Grows to $29-B ‘Locked’

#Bitcoin #Ether #Defi

$BTC $ETH

BTC’s price is still consolidating as investors take profits and enter other market opportunities including DeFi, the decentralized finance ecosystem, which hit a record level of value locked Wednesday.

  • Bitcoin (BTC) trading around 31,266.50 Slipping 1.4% over the last 24 hrs.
  • Bitcoin’s 24-hr range: 29,298-32,939 (CoinDesk 20)
  • BTC is trading above the 10-hr but below the 50-hr MAs on the hrly chart, a sideways signal for market technical analysts.

The price of Bitcoin lost ground for the 2nd day running Wednesday. The world’s oldest and largest cryptocurrency fell to as low as 29,298 at 15:00 UTC (10a ET), according to CoinDesk 20 data. 

Technically, BTC is in a descending triangle, a continuation pattern showing lower highs and lower lows with currently a floor price at 29,000 a clear break there then 25,000 is in sight.

The 2nd-largest cryptocurrency by market cap, Ether (ETH), was down Wednesday, trading at 1,290.84 and slipping 3.8% in 24 hrs as of 21:00 UTC (4:00pET).

The total value locked in DeFi (decentralized finance), which is primarily run on the Ethereum network crossed $29-B for the 1st time Wednesday, a 30X+ spike over the past year. On 27 January 2020, the amount “locked” in DeFi was just $850-M.

The Lucky Club is a Decentralized Finance (DeFi) initiative at the forefront of innovation in Fintech using blockchain and other proprietary protocols to allow people to not only use services like brokerage, banking and investing but to also participate directly in earning money in a way previously only available to Financial Institutions.

As we build out the environment we need real world members to help us recognize and resolve issues in the technology and the processes, so for a limited number of people and a maximum value of $30m USD we are going to run everything commission free, return all profits to the Beta investors and allow those with investments of $30,000 or more to maintain a revenue stream not only from their referrals but from the complete downline that is created from those referrals.

The Lucky Club offers many benefits to members aside from their ability to gain a strong APR, it also allows them if they wish, to trade markets including Crypto, to maintain a fixed investment and earn interest, to participate in AirDrops of Crypto Currency and Stocks as well as the ability to make transfers to others internationally (Minimum Balance $30,000) all from a single platform.

As the application develops we intend to add a great many more commoditized products, this would give people the ability to list anything for trading provided it is verifiable, legal, and can be monitored by our compliance staff, race horses, Air Time on Private Jets, Hotel Rooms and Corporations are just some of the things that will be available over the next 12 months.

This would create an Amazon of Tradable Items that have been thoroughly vetted and approved by our compliance team, every listing and every trade directly benefits members as they are participating in that revenue stream. How the Investment Works There are various minimum levels for a person or corporation to become involved. The amount invested, $100 to $500,000 goes in to your account and is available for trading, investing or purchases within the environment. There is no lock up period on that investment, should you choose to take advantage of the Crypto farming then there are choices as to how long you will be invested for in advance.

Have a healthy day, Keep the Faith!

The following two tabs change content below.

Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   
#Bitcoin#DeFi#ether