Bitcoin, the leading cryptocurrency by market cap, has once again fallen below the $31,000 threshold and stands at $30,710 as of this writing. The 24-hour trading volume is 10.6 billion US dollars.
In the last 24 hours, bitcoin is down 1.01%. Despite the current low price, the currency is still the best on the CoinMarketCap ranking, with a market cap of almost $597 billion. Technical analysis shows that Bitcoin is currently facing around $31,000.
Also, Bitcoin is facing resistance around $31,350. If it manages to clear this level, the next target could be around $32,500 or even higher at $34,150.
Various technical indicators, such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), are showing positive sentiment for Bitcoin despite the recent pullback. The 50-day exponential moving average is also supporting the uptrend.
On the downside, expect immediate support for Bitcoin around $30,500 or possibly $29,650. A break below $29,650 could lead to a drop to $28,650 or even as low as $27,900.
At the moment, the Bitcoin course cannot really decide where it wants to go and cannot predict when a new upswing will occur. Fortunately, however, there are other crypto projects that offer investors a higher chance of above-average returns. yPredict is one of the most promising at the moment.
yPredict: A great alternative to bitcoin investing
Rapid progress in the crypto world has given rise to a variety of digital currencies that go far beyond Bitcoin. Bitcoin may be the first and most famous cryptocurrency, but it is far from the only choice for investors. With the increasing digitization of the financial world, new opportunities are constantly emerging, and one such option is the yPredict project.
The project represents an interesting alternative to traditional bitcoin investing. It is a next-generation cryptocurrency platform that uses artificial intelligence and machine learning to collect and analyze data from financial markets. With this approach, yPredict offers a set of predictive tools that can help investors improve their trading strategies.
Unlike Bitcoin, which functions primarily as a store of value, yPredict is primarily a service network. It allows traders to make informed decisions based on data-driven insights instead of relying on guesswork. In addition, yPredict offers an innovative forecasting platform where financial data analysts can sell their predictive models or trading signals, adding additional value.
Another significant difference between Bitcoin and yPredict is the way transactions are processed. Although bitcoin transactions need to be processed and confirmed on the blockchain, which can cause delays, yPredict enables instant transactions. This is especially useful for traders who need to make quick decisions to adapt to market changes.
Finally, yPredict encourages investors through its native token, YPRED. Token holders have free access to the yPredict analytics platform and can use YPRED tokens to pay for subscriptions to the yPredict prediction platform. Investors can also redeem their tokens and earn attractive APYs, which Bitcoin cannot.
Dive deep into the yPredict project: how it works and mechanics
As such, this is a revolutionary cryptocurrency platform that harnesses the power of artificial intelligence and blockchain technology to offer deep data-driven trading analytics. But how exactly does yPredict work and what mechanisms make it a unique project?
The core of yPredict is the combination of AI technology and blockchain-based infrastructure. Here, advanced algorithms and machine learning tools are used to analyze financial markets and generate data-driven insights. Instead of relying on guesswork or unreliable information, users can use these insights to make informed trading decisions.
One of the most important features of yPredict is the market prediction platform. It is open to everyone and offers price predictions for thousands of cryptocurrencies developed by the in-house tools. This platform serves not only to demonstrate the credibility of yPredict’s AI-driven tools, but also as a preview of other core offerings, such as the analytics platform and the prediction market.
Another key element of the ecosystem is the yPredict analytics platform. It offers a range of features including pattern recognition tools, technical indicators and sentiment and transaction analysis. With a freemium pricing structure and three tiers of membership, this platform gives users access to powerful analytical tools that can improve their trading strategies.
The prediction market from yPredict is also very innovative. Here AI/ML developers can offer their predictive models and signals as a monthly subscription service. Traders can then choose from hundreds of forecasting models and subscribe to their favourites.
The yPredict mechanism is as impressive as the platform itself. Using YPRED tokens to access services and reward contributions to the platform creates a strong and sustainable ecosystem. From the developers who sell their innovative predictive models on the market to the traders who take advantage of the data-driven insights, all participants are appropriately rewarded.
$YPRED token and the ongoing Presale: A worthwhile investment
YPRED tokens, yPredict’s native cryptocurrency, play a vital role in the entire yPredict ecosystem. They not only serve as a means of payment for the various services offered on the platform, but also provide some additional benefits to the holders.
First, YPRED token holders have free access to the yPredict analytics platform. With the ability to access a wealth of data-driven insights and advanced analytical tools, this is a great asset for anyone looking to get involved in crypto trading.
Secondly, the tokens can be used to pay for subscriptions to the prediction market. This gives traders the ability to choose from hundreds of forecasting models, thereby optimizing their trading.
Thirdly, yPredict offers the opportunity to accept YPRED tokens and achieve attractive APYs. By providing liquidity from a portion of the platform’s proceeds, investors can earn steady returns on their investments.
Besides these benefits, traders can earn YPRED tokens as a reward by participating in various activities on the platform, such as voting or completing courses. These different use cases make YPRED one of the best utility tokens out there.
yPredict is currently in the pre-sale phase. This is a time when investors have the opportunity to invest early in a project, often at a discounted rate. The yPredict PreSale has already generated significant interest, with the platform raising nearly $2.8 million in just over two months.
Of the total supply of 100 million YPRED tokens, 8 million will be sold in the PreSale. The PreSale pricing structure is divided into eight tiers, with the price increasing at each tier. This means that early investors can benefit from a discount.