MATIC is designed to scale the Ethereum Mainnet. This layer-2 scaling solution is based on a decentralized security model, enabling secure, easy, and fast transactions. Popular blockchains like Bitcoin and Ethereum have one drawback, i.e., it is not scalable; Polygon comes with a solution. It is used to meet the transaction volume, and security level users demand. The platform also has a smooth, user-friendly interface. Moreover, it offers features like scalability, horizontal scaling, and sidechain. 

It is an Indian blockchain platform, but it bloomed when American Mark Cuban invested in it, and he promoted the network and successfully created hype in the market. The price rises as it offers faster, cheaper, and secure transactions and integrates well with the Ethereum blockchain network. It has four distinct layers: Ethereum layer, Security layer, Network layer, and Execution layer.

At the time of writing, Polygon’s price is trading around a support level of $1.52. Based on MATIC price prediction, it will break the level in the next few months in this volatile market. Otherwise, it will consolidate within a range of $1.36 and $2. The price of Polygon crypto will stay at this level for a couple of weeks in the short term. 

On the daily chart, MACD is bearish, and the RSI is around 40. The Bollinger Band shows a sign of short-term recovery, but it will not last long because the candlestick will face resistance of around $1.60.

After reaching an all-time high of $2.90, MATIC is in a downtrend. On the weekly chart, MACD is bearish, the RSI is around 46, and the candlesticks are in the lower half of the Bollinger Band. All these indicators suggest bearishness. Last year, it formed higher highs and higher lows, but it changed the momentum from the 2nd week of January. 

We think $1.08 would be the ideal price to buy MATIC coins for the long term, and it is not the ideal chart for short-term investment. As a long-term investor, you can start accumulating some coins from this range, and you should buy more coins if the price breaks the support level. 

This coin is backed by solid fundamentals and use cases. Polygon is a popular network that enhances the scalability of the Ethereum blockchain, and investors think it has a vast potential to give a good return in the future. For short-term investors, the target price would be $1.92, and for the long term, the sky’s the limit.

Litecoin was at its high on November 10, after which it declined and reached its low of $102. The coin started to uplift at the beginning of February but couldn’t cross the high of $143 and returned back to its lows. In a period of 3 months, the coin has reduced 199% and has been hugely profitable for the bears. In an intraday session on February 11, there was a price movement of 11% in favor of bears. The price is moving at the edges of the downtrend line, and once it closes below the support zone, a bearish momentum can be expected. LTC is moving in the sideways channel in between the price range of $168 and $102. Once the price closes above the swing high of $114, the coin may reach its resistance of $168.

On the above chart, the MACD line trades below the signal line, indicating a bearish move. The RSI is 33 may head towards the oversold zone. On February 18, the volume bar favored bears, and a shooting star candlestick was formed, after which the coin price declined 11.7%.

On the weekly time frame, the indicators have been in the bearish zone since December, and Litecoin is trailing at the support zone. Based on the LTC price prediction, an upliftment in the price can be expected once the price closes above the support zone. However, if the coin closes below $97, it may reach its lower lows, and a bearish momentum may be followed in the long run. In the previous week, the bearish candle returned 22%. 

If the bulls push the price up, the coin may reach its resistance of $168; however, if the coin continues to fall, it may reach its lows of $70.  A turnaround in the coin may happen if the bullish candles continue to form with the supporting volume, and it may be an opportunity for the bulls.

Shina Inu is not new to recording whale interests towards its native coin. In fact, the meme-coin entered amidst great expectations of a bullish streak which made the Ethereum whales buy the token in bulk. However, the first month of 2022 has not been very supportive of the financial sector, with all the assets losing a significant portion of their value. Even the king-crypto lost nearly 50% of its highest position from 2021. The whale who bought the Shiba Inu incurred loss in billions as per the whale trackers.

Now, after successfully enduring the hard times from January, the market seems to be getting back on track. And the craze towards the meme-coin also seems to spring up as an Ethereum whale just bought a bulk of SHIB worth 115 million US dollars. The Shiba Inu community looked excited to welcome the arrival of this new whale. The excitement is also followed by an expectation about SHIB’s future price movements after this bulk transaction. 

The interest in SHIB directed the attention of investors towards its predictions for 2022. According to CryptoNewsZ, SHIB is potential enough to reach the range of $0.0000623 by the fourth quarter of the current year. As the market is stabilizing slowly, SHIB could start the predicted bullish streak anytime soon. Could this current dip be the right time for a  revision of your portfolio? Learn from this Shiba Inu coin price prediction here.

The following tweet by WhaleStats claimed that Shiba Inu also became the biggest holding in the Ethereum wallets, next only to Ethereum. After this bulk transaction from this new Shiba Inu whale, the meme-coin dethroned FTT to claim this position behind Ethereum by USD value. The new transaction brought the value of SHIB in the wallets to $1.8 billion, accounting for 16.85% of the entire holdings. FTX, on the other hand, accounts for 16.07%, valued at over $1.7 billion. Polygon’s MATIC holds the last position and is making rapid progress in the Ethereum wallets, accounting for 2.71%.  MANA holds the position above MATIC in the top 10 Ethereum Whales’ holdings.

The whales also showed increased interest in MATIC and LINK in the last few days. This could be due to the proven positive trend of the coins in the last 24 hours. MATIC has shown a growth of more than 11% in the last 24 hours and is currently trading just short of $2. The massive MATIC  purchases could be a short-term hustle by the whales, and they are also known for having one of the best long-term projections. This native Polygon token also became the most traded coin in the top 100 Ethereum wallets, a position previously occupied by SHIB. The wallets also recorded the purchase of LINK worth $8 million.

Understanding Ripple

The criticism on the valuation of Ripple is mainly focussed on XRP which is the native cryptocurrency of its platform. Many people stated that XRP still has not gained any sort of traction in the market to estimate its real valuation. But the traction of XRP can be estimated because its valuation is calculated as an asset and a channel of the transaction between banks on its platform. The role of XRP in the ecosystem of Ripple has transformed into a critical determinant of its overall valuation of the industry.

What Is Ripple(XRP)?

Ripple (XRP) is one of the reputed cryptocurrencies of the globe which also has strong competitors. The best part is centralized unlike other cryptocurrencies such as ethereum or bitcoin. In fact, cryptocurrency is interlinked with various banks, businesses as well as investment institutions across the world. It is extremely counterproductive as the investors believe that the selling point of cryptocurrency is the external companies as well as its freedom. Cryptocurrency experts are also claiming that it is the main factor behind the success of Ripple. Now to understand the price prediction of Ripple, the most important point to understand what is Ripple XRP is and how is it different from other cryptocurrencies. You can view the complete crypto future details here to know more information.

How Does Ripple Works?

The majority of the banks use the Society for Worldwide Interbank Financial Telecommunications (SWIFT) system for processing international transactions. And this technique is very effective and it also involves operational overhead due to the use of the new technologies. Ripple ails in offering an efficient system for the direct money transfer which settles in real-time. When it comes to traditional money transfers, investors should interact with one another to figure out how to coordinate numerous systems and determine whether or not they are compatible. However, with Ripple, you may connect it and construct a worldwide network while adhering to the norms and standards. Not only that, but you may communicate with people in a more clear and straightforward manner. Furthermore, because there are several systems involved, traditional financial institutions may take a few days to complete transactions. This will make the current environment sluggish, costly, and error-prone, perhaps harming the ecology. RippleNet now has On-Demand Liquidity, which helps to eliminate the need for pre-funding for cross-border transactions.

What is Ripple vs. Bitcoin?

Ripple is a private company that aims to develop the cryptocurrency XRP as well as the RippleNet network. Another thing to be noted is that it is a cryptocurrency as well as a payment settlement system. Bitcoin on the other hand is a blockchain-oriented technology. Now we will be discussing the key differences between ripple and bitcoin.

Transaction Speed

Ripple mainly provides a cheap and fast transaction by allowing the high-speed exchange of currencies, low cost, and payment settlements. On the other hand, Bitcoin acts as a decentralized digital currency that focuses on the resistance to centralization and censorship.

Supply

The total supply of Ripple is 100 billion XRP among which more than 45 billion are currently circulating in the market. And the supply of Bitcoin is 21 million out of which over 18 million is in circulation.

Technologies

The bitcoin network depends on blockchain technology which is a shared public ledger that includes all the confirmed transactions as well as the mining concept for validating transactions. Ripple on the other hand makes use of the consensus ledger.

Will Ripple’s Price Go Up?

The Ripples plays a similar role to that of U.S. dollars in the international market. Its current price is $0.831 as well as a market cap of $39.337 billion. This makes XRP the 8th largest cryptocurrency in the globe. According to the latest forecast, the Ripple price is estimated to reach $2.5778 at the end of 2022. For a long-term xrp forecast you can get more details here.

Experts Talk About XRP Price Prediction

The price of XRP is going to rise high in 2022 and could touch $2.054 as per the WalletInvestor. But in the end, it can also decline to $0.56 at the end of the year as the Economy Forecast Agency. The highest price of the Ripple XRP is predicted to reach $12 by PrimeXBT.

Conclusion

The technology trend has altered dramatically in terms of convenience and speed, and information is now going all over the world. However, money transfers have proven difficult, as has the changeover to email form letters. In terms of value transfer, cryptocurrency has seen substantial development. Crypto, on the other hand, when viewed in a larger sense, lacks interoperability with traditional money systems. Ripple’s major purpose is to smoothen and speed up money transfers by utilizing blockchain technology.

The majority of stock exchanges in Asia suffered a slight setback with the Japanese benchmark index Nikkei slipped 0.5% in the early hours of trading. Decline along the same lines was registered in Kospi index of South Korea while Hang Seng of Hong Kong dropped by 0.5%. 

Experts attributed the lack of enthusiasm to the relatively quiet sentiments from Wall Street besides the weak economic data put out by the Japanese government. According to the official government data in Japan, the coronavirus pandemic has hit the economy in a significantly negative manner leading to a decline in transactions and business activities. There is also a shortage of chips an important production component for the auto industry, thereby further exaggerating the woes for the Japanese economy which is currently the third biggest economy in the world after the US and China. 

The recent decline in customer spending is caused by the new set of restrictions imposed by the government. According to new emergency measures, restaurants have been ordered to close early while open theatres are asked to limit the crowd within the premises. It’s important to note that Japan has never imposed lockdown even during the peak of Covid-19 though government, from time to time, kept on implementing a state of emergency to contain the spread of infection. 

Contrary to the initial expectations, Japan is now expected to recover from the devastating impact of the pandemic not until the start of the next fiscal year 2022. That said, there is no space for extreme pessimism as the shortage of chips is only temporary in nature and expected to become normal in this ongoing quarter of the fiscal year. 

Investors are also keeping a close eye on the policy meeting that is scheduled to happen in South Korea next week. The policymakers from the Central Bank of the country will decide on the key rates, and any upward revision will have implications for investors as well as the market. In the US market, S&P 500 registered a decline of 0.3%, the Dow Jones Industrial Average fell by 0.6%, and U.S. crude sank by 72 cents to come at $77.64 a barrel in electronic trading.

Bitcoin is a digital currency created in 2009 by Satoshi Nakamoto; however, his real identity has never been revealed; it can be a person or an organization. Unlike fiat currencies like dollars or Euro, Bitcoin is not a tangible item and exists only in the virtual world, i.e., the Internet. Blockchain ledgers keep track of Bitcoins, which can be received or sent by anyone anonymously through Bitcoin address and peer-to-peer transactions.

There are several similarities with traditional currencies. Bitcoin is traded on various crypto trading exchanges worldwide, and this supply and demand help determine its price. But the price of this cryptocurrency can be very volatile when it comes to the exchange rate with government-issued currencies. There are two reasons for this. One, the volume of available Bitcoin is limited as mining the digital coin requires the skilled technicians’ expertise and the installation of very advanced computers. Few people can afford it. Two, speculation mainly powers Bitcoin prices, and here the sky is the limit.

Statutory and Legal Issues with Bitcoin

Bitcoin can be issued and mined by anybody with the necessary infrastructure, and the marketplace for the coin is not regulated. Without a centralized issuing authority, countries do not have any control over trading or transactions in Bitcoins. The address that a Bitcoin is linked to does not have any identification marks like Social Security Numbers or bank accounts details. Hence Bitcoins are untraceable and thus prone to be used in illegal activities.

When Bitcoin was first introduced, it became a standard form of currency for drug peddlers and traffickers. The famous Silk Road market in the USA is testimony to it. It consisted of the dark web where all dealings were hidden, and users paid in Bitcoins to procure drugs. Eventually, the FBI latched on to this network and shut it down in October 2013.

However, those seeking anonymity for illegal activities are now moving away from Bitcoin to other cryptocurrencies like Monero and Zeash that offer more enhanced privacy protection than Bitcoin. In Bitcoin, a permanent public record is created on the Blockchain, an immutable part of the coin’s digital structure. Whenever a person is linked to a Bitcoin address, he/she is automatically linked to that address for all transactions.

The fact that the type of transactions and its purpose can be hidden from the public domain has resulted in several countries banning Bitcoin, while in many others, this virtual coin is legit.

Countries where Bitcoin is Banned

Several countries have banned the Bitcoin’s use mainly because of the decentralized nature and the threat it poses to the official mainstream financial system. Some countries have banned the crypto coin until a regulatory framework is framed.

Countries that have banned Bitcoins are Afghanistan, Albania, Bolivia, Bangladesh, Pakistan, Qatar, Saudi Arabia, The Republic of Macedonia, Vanuatu, and Vietnam.

There are others where Bitcoin has not been fully banned, but severe government restrictions have been placed on usage and cannot be used for payments or trading. Financial service providers and banks have been prohibited from transacting with companies dealing in crypto. These countries are China, Ecuador, India, Indonesia, Morocco, Nepal, Egypt, Zambia, and American Samoa.

Countries where Bitcoin is Legal

It is heartening to note that there are 111 countries globally where Bitcoins are recognized by law and legitimate. Most crypto-friendly countries, while legalizing Bitcoins, have implemented strict anti-money laundering laws to ensure that transactions are above board and legal. Crypto exchanges operating in these countries scrupulously follow the statutory norms as required.

Among the most Bitcoin-friendly countries are Japan, the U.K, the USA, Germany, Singapore, Switzerland, Hong Kong, Bermuda, Estonia, Slovenia, and the Netherlands.

Even though Bitcoin is legit in these countries, it is not treated as legal tender and, for tax calculations, considered property instead of currency. Hence, holders of Bitcoins are liable to pay taxes.

The 2020 Landmark Bitcoin Case in India

After the Indian Prime Minister banned almost 80% of the country’s fiat currency and brought in new denominations, there was a sudden rise in crypto transactions and a string of frauds in 2018, months after the ban was implemented. This led to Bitcoin and other crypto being prohibited from trading or for any transactions. But the crypto exchanges fought back and filed a lawsuit for lifting the ban in the Supreme Court in the country.

In a landmark judgment in March 2020, the Court decided to reverse the Government decisions, which saw a nearly 450% surge in crypto transactions, including Bitcoin.

However, stung by the reverse, the Government is introducing a bill in Parliament, which will encourage Blockchain technology on which Bitcoin is founded but will prohibit trading in the cryptocurrency. If you want to trade or invest in Bitcoin then you must choose the best trading platform that can lead you to earn good money. Bitcoin robot is one of the innovative & unique platforms that can lead you to earn a good chunk of profit from Bitcoin trading. Check out the list of Best Bitcoin Robot and choose from them to maximize your profit.