TrendsWide
Contact US
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
No Result
View All Result
Home Economie

Should I invest in Arweave after the current sell-off?

by souhaib
November 16, 2021
in Economie
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT


You might also like

‘momentum is continuing into 2022’

Astra Space stock closed down 20% on Monday: here’s why

Ripple, Dogecoin, Litecoin price forecast for February 2022

Arweave AR/USD has weakened from $90 below $55 since 05th November, and the current price stands at $59.

The cryptocurrency market remains under pressure, Bitcoin went below the $59000 price level this Tuesday, and the price of Arveawe can weaken even more in the upcoming days.

Decentralized storage platform


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

Arweave is a project that seeks to store files across a distributed network of computers allowing its users to truly store data forever. Arweave is very similar to other decentralized storage platforms like Filecoin and Sia, and it is built and run by its community.

Arweave stores its data in a graph of blocks, and each block is linked to two earlier blocks in Arweave, which differs from Bitcoin. AR token is the native currency of Arweave, and it is important to mention that the number of AR tokens in circulation is limited to 66 million tokens.

Arweave backs data with sustainable endowments, and users who want to store data on Arweave must buy AR tokens to pay for distributed data storage.

Arweave’s native AR token has achieved an impressive gain in the first trading days of November, and it has reached a record high above $90. Since then, the price has collapsed, but the current price depreciation has a less fundamental background.

The cryptocurrency market is losing its value this Tuesday, the price of Arweave can easily back below the $50 level, and probably it is not the best moment to buy this cryptocurrency.

From its peak of $69,000, Bitcoin is currently down more than 12%, and the upcoming days may bring more pain for the cryptocurrency market. Jon Cunliffe, deputy governor for financial stability at the Bank of England, added:

As the top crypto asset, Bitcoin carries the biggest risk. Cryptocurrency volatility, the primary concern for regulators, could bubble over to the traditional financial market.

$50 represents strong support

Arweave (AR) has weakened from $90 below $55 since 05th November, and the current price stands at $59.

If the price of Bitcoin falls below the $55000 support level, it would add further pressure to the whole cryptocurrency market.

Should I invest in Arweave after the current sell-off?
Data source: tradingview.com

The strong support level for Arweave (AR) stands at $50, and if the price falls below it, the next price target could be around $40 or even below.

On the other side, if the price jumps above $80, it would be a strong “buy” signal, and we have the open way to the $90 resistance level.

Summary

The cryptocurrency market remains under pressure; Bitcoin went below the $59000 price level this Tuesday, which also negatively influenced the price of Arweave (AR). The price of Arweave can easily back below the $50 level, and probably it is not the best moment for investing in this cryptocurrency.

Where to buy right now

To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use:

  1. Etoro, trusted by over 13m users worldwide. Register here >
  2. Skilling, simple, easy to use and regulated. Register here >



Source link

Share this:

  • Twitter
  • Facebook
  • More
  • Pinterest
  • Telegram
  • Email
Share30Tweet19
Previous Post

Sun-wrinkled retirees on the streets of 1970s Miami Beach are captured by photographer David Godlis 

Next Post

El-Erian says he bought BTC but sold too early; Looking to buy again 2021

souhaib

Recommended For You

‘momentum is continuing into 2022’

by souhaib
February 7, 2022
0

Shares of Chegg Inc (NYSE: CHGG) are up 10% in extended trading on Monday after the student services company said it performed better-than-expected in Q4, despite COVID-19 uncertainty....

Read more

Astra Space stock closed down 20% on Monday: here’s why

by souhaib
February 7, 2022
0

Read more

Ripple, Dogecoin, Litecoin price forecast for February 2022

by souhaib
February 7, 2022
0

The cryptocurrency market is advancing this Monday, and this situation also supports the price of Ripple XRP/USD, Dogecoin DOGE/USD, and Litecoin LTC/USD. Bitcoin is trading above the $44,000...

Read more

Analyst: ‘Apple would be forced into it if Amazon goes after Peloton’

by souhaib
February 7, 2022
0

Read more

Should I buy Uber shares in February 2022?

by souhaib
February 7, 2022
0

Uber Technologies, Inc. (NYSE: UBER) will announce fourth-quarter earnings results this Wednesday, February 09, after the market closes. Uber shares have weakened more than 10% since the beginning...

Read more
Next Post

El-Erian says he bought BTC but sold too early; Looking to buy again 2021

No Result
View All Result

Recent Posts

  • Women at work: The club that says no at work | Opinion
  • California is experiencing a water crisis, while its use increases
  • In the United States, “people from minorities are most likely to feel the impact of an abortion ban”
  • Kendall Jenner and Devin Booker share a rare glimpse of their relationship while playing board games
  • They evoke Carlos Fuentes “owner of the word” and “creator of our city”

Browse by Category

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Categories

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Pages

  • Contact US
  • Newsletter
  • Privacy Policy
  • Terms & Conditions

© 2021 - TrendsWide

No Result
View All Result
  • Home
  • Contact US
  • Privacy Policy
  • Trending
  • U.S.
  • Economie
  • Deals
  • Reviews
  • Cryptocurrency
  • Health
  • Life Style
  • NBA

© 2021 - TrendsWide

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.