Factoring in expert foresight is one of the characteristics of those who earn great profits from crypto. On that note, let’s explore recent expert analyses of Shiba Inu (SHIB), Luna Classic (LUNC), and Bitcoin Spark (BTCS).
After spending the past few weeks and months in the oversold region, Shiba Inu (SHIB) is now in a great position for a very strong price rebound, highlighted by its rally of the past couple of days. The coin’s relative strength index (RSI), which stood at 40 just a week ago, has climbed to around 60, indicating a steadily increasing momentum with significant potential for further intensification before the overbought levels are reached. Additionally, SHIB’s 30-day exponential moving average has recently halted its decline below the 200-day average, suggesting that it may have just begun a journey toward the longer-term average. And despite SHIB’s medium-term support level having declined since August, the meme coin might consolidate its recent gains into a higher base level. These developments would imply sustained price increases for Shiba Inu (SHIB) in the coming days.
The Terra Luna Classic (LUNC) price surged by 4.5% on 1st November after a heavy drop the previous day. However, a closer look at LUNC’s chart suggests that the bulls may not be in firm control at the moment. The coin’s relative strength index is showing a steep decline toward 50, with the potential to drop even further. Additionally, LUNC’s 30-day average has flattened out after a recent steady rise, indicating a loss of buying momentum. The negative signals extend to a decrease in trading volume and a declining medium-term support level.
Bitcoin Spark is a new Satoshi-inspired crypto project that seeks to bring a new generation of digital transactions. Its blockchain facilitates fast and cost-efficient transaction processing, attained through a short block time, high individual block transaction capabilities, and a massive number of nodes. The Bitcoin Spark blockchain will also support the development and utilization of smart contracts and decentralized applications (dApps). Its layered architecture, complete with a dedicated smart contract layer, ensures scalability and supports both high-level and low-level programming languages, promoting diversity within its ecosystem.
Notably, Bitcoin Spark uses its own consensus mechanism, the Proof-of-Process (PoP), which will non-linearly reward users for conforming blocks and contributing their processing power to the network. The nonlinear rewards functionality, coupled with the extensive nodes, will enable low-powered devices to run the network. The native Bitcoin Spark application will facilitate seamless participation for users with Windows, macOS, Linux, iOS, and Android devices.
The power provided by validators will be rented out for remote computing through the Bitcoin Spark network, with payments made in BTCS. Network validators will receive 97% of the revenue earned plus minted BTCS and transaction fees from validating blocks, with the remaining 3% going to the network.
Additionally, the Bitcoin Spark application and website will have small spaces for advertisements, which will be community-policied and paid for in BTCS. Network participants will get 50% of the generated revenue plus extra incentives for those involved in ad policing.
The Bitcoin Spark (BTCS) price increased by more than 120% to reach $3.50 on 1st November, as the project entered the second-to-last phase of its Initial Coin Offering (ICO). The ICO has received millions in investments, and the team behind it has taken proactive steps to ensure and assure the security of the investors’ assets. Bitcoin Spark is to launch at $10 on November 30, and its launch is close to a potential bull market, combined with a low market capitalization, limited supply of 21 million, innovative features, and real-world uses points to massive price appreciation in both the short and long term.
While these analyses provide a glimpse of what could be next for Shiba Inu (SHIB), Luna Classic (LUNC), and Bitcoin Spark (BTCS), it’s essential to conduct your own research before investing.
To get more information on Bitcoin Spark:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
Photo by Kanchanara on Unsplash
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