Sudden declines in the value of Bitcoin are frequent due to the turbulence of the cryptocurrency market. The cryptocurrency market has had significant collapses on a cyclical basis, and the most recent one resulted in losses for several currencies, including Bitcoin (BTC) and Dogecoin (DOGE). Numerous indicators thus show that some cryptocurrency projects, like Yachtify, will perform better.
Yachtify (YCHT) First of Its Kind
On Yachtify, a first-of-its-kind marketplace, users will be able to buy, sell, rent, or own fractional timeshares in a range of watercraft, from Sunseeker to Jet Ski Yachts. Each investment results in the creation of an NFT, which can be purchased and used to claim ownership of the tangible asset.
Additionally, Yachtify will allow international nautical schools to hire yachts. This will provide steady, ongoing income. Anyone who purchases the YCHT token will have access to the ecosystem’s NFT marketplace and lending platform in addition to enjoying VIP benefits.
Only 58,000,000 of the 100,000,000 total tokens are available for presale, allowing early investors to lock in their investments. Additionally, individuals who invest in the presale will receive a 30% incentive. Don’t pass up this wonderful chance. You can purchase a token at the current presale price of $0.1.
Bitcoin (BTC) Takes a Hit
The price of Bitcoin (BTC) failed to break beyond the $30,000 barrier. At $29,750, Bitcoin (BTC) encountered a big rejection and started a fresh plunge. The values of $29,200 and $29,000 have decreased.
It traded close to the $28,000 support. A bottom has formed at $28,100, and the price of Bitcoin (BTC) is now consolidating its losses. Bitcoin (BTC) is trading beneath both the 100 hourly Simple moving average and $28,800 at the moment. A big negative trend line with resistance at $28,650 is also forming on the hourly chart of the BTC/USD pair.
Near $28,600, there is a Bitcoin (BTC) resistance level. It is not far from where the most recent decline, which occurred from the swing high of $29,128 to the low of $28,100, is retracing 50% of its prior climb.
The price of Bitcoin (BTC) may advance toward the $29,000 resistance zone or the 100 hourly Simple Moving Average if it breaks through the trend line zone or the 61.8% Fib retracement level of the most recent slide from the $29,128 swing high to the $28,100 low.
Bitcoin (BTC)’s price may drop further if it is unable to overcome the $28,650 barrier. Near the $28,000 mark and the most recent low, there is immediate support on the downside.
Dogecoin (DOGE) Fails to Live Up To Hype
Two years ago, one of Barron’s articles stated, “With a $78 Billion Market Cap, Dogecoin (DOGE) Needs to Be Taken a Little More Seriously.”
At the time, the whimsical spoof coin was able to ride the excitement wave thanks to a passionate online community and endorsements from notable figures like Tesla CEO Elon Musk. But when we stop and think about it, it’s clear that the phrase hasn’t aged well, much like the house of cards built on the hype around the meme-based digital currency.
The CEO of ETF Store, Nate Geraci, tweeted about the story, writing, “Might be my favorite headline of all time.”
Dogecoin (DOGE)’s value skyrocketed early in 2021, increasing from less than a penny at the start of the year to over 69 cents by May. The digital currency attracted the attention of retail investors.
Coming to today, Dogecoin (DOGE) has made an 89% decline from its all-time high, serving as a sobering reminder of the volatile nature of the cryptocurrency industry.
Dogecoin (DOGE)’s collapse serves as a warning about the risks of pursuing speculative investments based only on excitement, even though the Dogecoin (DOGE) online community is still active.
To learn more about Yachtify, visit;
Join Presale: https://buy.yachtify.market
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
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