Arbitrum Airdrop Confirmed!
March 18, 2023 Crypto Roundup. (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) Arbitrum
(Source: Kucoin BTC/USDT)
It is a very interesting situation we are seeing this week that puts us in a more clear picture compared to where BTC was last week. BTC is currently trading at around $21.6k, which is quite a significant drop from last week’s market observations.
We were talking about our consolidation level around the $23.2k range, and we were watching for any candlestick movement below our 50-day moving average (blue). This week, BTC fell below our 50-day moving average and fell to our next support level of $21.6k (the yellow support line).
Falling below our 50-day moving average on the daily chart is our first indicator of losing some confidence in our midterm direction. Breaking below this moving average entails that we are no longer in a midterm bullish uptrend and may be seeing a reversal of the rally that we have been seeing since the beginning of January.
But, we now have a clear support level that BTC has touched today where we can gauge where BTC will be headed next. The RSI has cooled off as well, as we are currently around a level of 37 RSI points, which means that we are returning back to an oversold valuation on the daily chart.
If we are able to catch support at this current level of $21.6k, then we do have a healthy RSI level and a definite support level to find some momentum to return back to touching our 50-day moving average. In the event that we are unable to bounce from this support, well, we will see BTC fall straight to $20k with the possibility of taking a breath at around $20.7k.
(Source: Kucoin BTC/USDT)
On our weekly chart, our death cross proved correct as of now, and stating that the weekly chart has more influence on the BTC price action also proved correct, as BTC managed to reject off of our 50-day moving average on the weekly chart, all beginning with a rejection from the 200-day moving average (orange) and a downward cross of the 50-day moving average under the 200-day moving average.
We are looking pretty bearish on the weekly chart, more so than the daily chart, as BTC is now below both the 50-day moving average and the 200-day moving average by a significant amount compared to when our candlesticks were actually touching the 50-day moving average.
As of right now, the current level that BTC is at will be a great indicator as to whether we will see further downside or stabilization.
I do think that seeing $20k is possible, as many indicators are telling us that BTC could see some further downside in the near future. This would most certainly reset our RSI levels on both the weekly and daily charts, which could allow us to find another support point for a more healthy push back upwards.
(Source: Federal Reserve Image)
According to a Reuters article this week on the Federal Reserve and matters regarding rate hikes, the Federal Reserve believes that there will likely be a need to raise interest rates again, even though prior months have expected a slowdown in interest rate hikes. However, Jerome Powell stated that recent economic data have been much stronger than they had expected, meaning that both the FED and investors are expecting interest rates to be set higher. Again.
Investors were expecting a slowdown in interest rate hikes, such as only quarter percentage point steps in BPS bumps; however, as we are currently in the range of 4.50% to 4.75%, a 50 BPS point bump is expected after this month.
Yes, crypto’s main fundamentals are in fact a hedge against inflation, and we did see events of this occurring back in 2020, but we must also admit that the crypto space got pushed by money printing as well, thus allowing more people to have money to throw into the space. This is clearly not what we are really seeing these days, as news that interest rates may be hiked higher causes both equity markets and the crypto markets to see turbulence and downward volatility, as we are seeing this week with BTC.
It is so important to keep up with inflation news and announcements regarding what the Federal Reserve is doing in order to make yourself a better investor and a more knowledgeable individual about the economy. There is still so much that we are not seeing with the current state of the economy, and more pain will certainly cause shifts in the crypto markets that will cause us to see even lower prices for BTC and altcoins.
CryptoGPT is a ZK layer 2 blockchain that revolves its model around the merging of artificial intelligence with blockchain technology that is able to monetize your data. And yes, we are seeing so many more companies now building on and riding the hype of AI and blockchain.
With a play on the word ChatGPT, by far the platform that has sparked so much hype around the AI industry with a ripple effect into both the traditional tech industry and into Web3, CryptoGPT works to store you, the user, and your data into an NFT with AI technology tracking your consumer data and logging it into this NFT.
Instead of big tech companies stealing your data, you could be earning GPT tokens in exchange for data such as your consumer activities.
CryptoGPT offers the services and products of AI-to-Earn, CryptoGPT Core, which allows users to use a predetermined set of apps to share data with to earn GPT tokens, and the CryptoGPT SDK, which allows developers to build for their users.
If you are very interested in AI tokens, although their use in blockchain is up for debate in today’s market, CryptoGPT will be launching their token with the ticker GPT tomorrow at 11:00 UTC on Bybit, Bitget, and Bitfinex.
(Source: Forkast Labs)
In Tuesday’s report, we discussed Forkast Labs, an Animoca-backed company formed by the merger of CryptoSlam and Forkast News.By far, CryptoSlam was one of the best places to go in order to get NFT market data such as sales volume on a certain EVM chain. Knowing this, we can put some trust in the index that Forkast Labs has created in order to gauge the overall NFT and chain-specific markets.
To reiterate on the model that they built out,
The Forkast NFT 500 is their flagship product, which uniquely tracks NFT tokens and assets from various chains such as Ethereum, Polygon, Solana, Cardano, BNB Chain, Arbitrum, Avalanche, Algorand, Fantom, Cronos, and OEC. So we can see that Forkast really gets a wide array of chains to choose NFTs from to implement in their data tracker. And we can infer what their other products, such as the SOL or ETH composite, would entail. These indexes would track the NFT assets under each chain, and Forkast will be focusing on building out new indexes as well.
For today’s NFT update, why not give it a try to track the NFT markets with this new tool that came out this week?
This index shown above is the Forkast 500 NFT, which is currently at 4,225.19 points, which is a decrease of 3.59% in the past week. We will be using this indicator frequently in order to get a better sense of where we are in the NFT markets, but for now, the NFT markets have not improved at all in the past week.
A cool thing about this new index is that it’ll also show the top gainers and decliners within a certain time period in the NFT markets.
Today’s top gainers were Sappy Seals, Doge Club, Fifa+, OnChainMonkey, and BVDCATs. Our top decliners today were LILY, Moonrunners, Cathletes, Weirdo Ghost Gang, and Moonbirds.
March 18, 2023 Crypto Roundup. (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) Arbitrum
March 17, 2023 Crypto Roundup. (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) Could
March 14, 2023 Crypto Roundup (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) All
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To provide our Services we may collect some of your data some of which may under certain circumstances be considered personal information. We at Hector Network are committed to fully protecting your privacy and being a responsible and transparent custodian of the information we collect.
Therefore, please find all the necessary information on how we may collect and process your personal data gathered in connection with your use of our Site and our Services in this Privacy Notice.
Notice: Please, read this Privacy Notice carefully and in addition to the Terms and Conditions to understand our practices regarding the information that may be considered personal. If you do not wish for your personal information to be used in the manner described herein, you should not access our Site and all subdomains thereof, utilise our Services, participate in the offering of our tokens or otherwise provide Hector Network with your information which may be considered personal.
Please ensure that any relevant individuals are made aware of this Privacy Notice prior to providing their information to us or us obtaining their information from another source. In such a case, you or they must first ensure that you or they have the authority and appropriate legal basis to do so.
We do not knowingly collect or ask for data, including personal information, from people under the age of 18. If you are such a person, please do not use our Service or send us your data. Otherwise be informed that we erase such data the moment we learn it is collected from a person under the age of 18.
The administrator of our Site, provider of the Services and thus controller of your personal information processed in connection for purposes described hereinbelow is Hector Enterprise Inc.
Registered office: Trinity Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands
We will usually respond to all legitimate enquiries within 30 days. Occasionally it may take us longer if your request is particularly complex or you have made numerous requests. We will notify you and keep you updated.
‘Personal information’ is any information that, either alone or in combination with other data, enables an individual to be directly or indirectly identified (for example, name, email address, contact details, or any unique identifier such as an internet protocol address (‘IP address’), device ID or other online identifier).
We may collect the following basic personal information from you:
You can choose how Cookies are handled by your device through your browser or through our cookie banner, including refusing or deleting all Cookies. If you choose to receive no Cookies at any time, websites may not function properly and certain services may not be provided. Each browser and device is different, so check the settings menu of the browser or device you are using to learn how to change your advertising settings and Cookie preferences.
We may receive information about you from other sources, including third parties that can lawfully share the information with us and help us update, expand, and analyse our records, prevent or detect fraud or other suspicious activities and process payments. In addition, our Site may also include integrated content or links to content provided by third parties (such as live chat, social media content, plug-ins and applications).
Please be informed that we do not process special categories of personal data (such biometric data, data concerning health, racial or ethnic origin, political opinions, etc.).
We do not use either automated decision-making or profiling in terms of your personal information you provide to us.
We may use the information gathered primarily for the following purposes:
We may also use the information we collect:
We retain the information we collect for no longer than is reasonably necessary to fulfil the above purposes and to comply with our legal obligations.
Your personal information as described above is processed by us on a basis of the following legal grounds:
Taking steps prior to entering into a contract and necessity for performance of a contract with you – We may need to collect and use your personal information in order to enter into a contract with you or to perform a contract that you have with us, for example, when you provide personal information to us in order to purchase our tokens, if necessary for such purchase.
In such a case, the provision of your data is necessary in order to enter into a contract and also a contractual requirement as without such data we are not able to enter into a contract with you.
Compliance with legal obligations – We may process your personal information as may be required by respective legal or regulatory obligations that may apply to us.
In this case, the provision of your data is a statutory requirement without which we are not able to comply with our legal obligations.
Our legitimate interests – We may use your personal information for our legitimate interests to improve our Services, thus maintain and develop our business activities as well as to protect and enforce our or third party’s rights, if necessary.
Please be informed that you have the right at any time to object to the processing of your personal information which is based on our or third party’s legitimate interest.
Your consent – We send to you direct marketing e-mails upon your previous consent. Each such e-mail also contains a link that allows you to opt-out from receiving such e-mails, update your contact information or change your preferences at any time.
To withdraw any consent to processing your personal information, please use our electronic form or by clicking on a link provided in every e-mail sent to you to unsubscribe from such marketing electronic communication.
We may disclose information:
Important note: We do not sell, rent, or otherwise share personal information that reasonably identifies you or your organisation with unaffiliated entities for their independent use except as expressly described in this Privacy Notice or with your prior separate consent. We may share information that does not reasonably identify you or your organisation as permitted by applicable law.
When you voluntarily make your personal information available online in our environment shared by third parties (for example, on messaging applications, social media, message boards, web logs, or emails), that personal information may be viewed, saved, collected, heard, used and/or shared by third parties outside of Hector Network. We are not responsible for any unauthorised third party using such information. Please be mindful whenever you share any information in such environments.
Our Site may include integrated content or links to third parties’ content (for example, social media content, plug-ins and applications, video materials, etc.) which are governed by the third parties’ privacy settings and policies, which may differ from this Privacy Notice. This Privacy Notice does not address, and we are not responsible for or able to control, the privacy, security, or other practices of such third parties.
We deploy organisational, technical and physical safeguards designed to protect the information that we collect. This includes, when required or appropriate and feasible, obtaining written assurances from third parties that may access your personal information that they will protect the information with safeguards designed to provide a level of protection equivalent to that adopted by Hector Network.
We may store the information we collect on our servers both cloud-based or in servers located in countries where we or our service providers have facilities. Therefore, we may transfer information to countries outside of your country of residence which may include countries outside the EU member states.
Please note that if you are the EU citizen and provide us with your personal information, it may then be transferred for the purposes stated herein to third countries outside the EU/EEA under conditions set in this Privacy Notice and you consent to this by using our Site or Services.
You have the right to withdraw your consent at any time, without affecting the lawfulness of processing based on consent before its withdrawal. Therefore, the marketing e-mails we send to you include the opt-out link for you to unsubscribe from receiving such communication (as well as update your contact information). We will honour your choice and without delay refrain from sending you such e-mails.
Under local law, you may have certain rights regarding processing of your personal information, in particular, you have the right to request: (i) access to your personal information, (ii) rectification or erasure of your personal information, (iii) restriction of processing concerning you, (iv) objection to processing that is based upon our legitimate interests (as already stated above), and (v) data portability to other service providers.
We are committed to working with you to obtain a fair resolution of any complaint or concern about your privacy. If, however, you believe that we have not been able to assist with your complaint or concern, you may have the right to lodge a complaint with a respective supervisory data protection authority, as applicable, in your jurisdiction.
If you would like to contact us, please use the methods stated above.
Your ability to exercise these rights will depend on a number of factors and, in some instances, we will not be able to comply with your request, for example because we have legitimate grounds for not doing so or where the right doesn’t apply to the particular information we hold on you. Where so entitled to access to your personal information, you will not have to pay a fee unless your request is clearly unfounded, repetitive or excessive (upon which we may charge a reasonable fee or refuse to comply with your request). If you would like to discuss or exercise the rights you may have, you can contact us through the methods stated above.
Please keep us informed if your personal information changes whilst we continue to retain such information. We encourage you to contact us to update or correct your information if it changes or if you believe that any information that we have collected about you is inaccurate or out of date.
We may update this Privacy Notice from time to time and we encourage you to periodically review this Privacy Notice. If we make any material changes to this Privacy Notice regarding the way we collect, use, and/or share the personal information that you have provided, we will notify you by posting notice of the changes on the Site or, if we hold your email address, by email.
The use of certain of our Services may also be governed by other applicable terms and policies regarding privacy and the sharing of personal information, which supplement, and should be reviewed alongside, this Privacy Notice.
Unless otherwise defined in this Privacy Notice, terms used have the same meaning as in the Terms and Conditions.
Effective Date: 10 May 2022
This disclaimer (the “Disclaimer”) explains the terms and conditions governing your access to the https://hector.network/ website (the “Site”) and/or our services as described on the Site (the “Services”; unless the context provides otherwise, the Services shall be deemed to include the Site). This Disclaimer, together with the Terms and Conditions (the “Terms”), forms a binding legal agreement between you and Hector Enterprise Inc., with its registered office at Trinity Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands (“Hector Network” or “we” or “our” and its derivatives).
You must read this Disclaimer carefully. By accessing the Site and/or using the Services, you signify that you have read, understand and agree to be bound by this Disclaimer in its entirety and understand the risks related to the Services and crypto-assets in general. You agree to comply with this Disclaimer even if our methods to prevent the use of the Services are not effective or can be bypassed. If you do not agree with anything in this Disclaimer, you may not use the Services. We may implement controls to restrict access to the Services from any jurisdiction or persons prohibited pursuant to this Disclaimer.
You agree to indemnify and hold Hector Network harmless from any losses, costs, liabilities and expenses (including legal fees) relating to or arising out of: (a) your use of, or inability to use, the Services; (b) your violation of this Disclaimer or the Terms; (c) your violation of any rights of another party, including but not limited to any other users of the Services; or (d) your violation of any applicable laws.
Hector Network may, at its own discretion, assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you shall fully cooperate with Hector Network in asserting any available defenses. This provision does not require you to indemnify Hector Network for any fraud, gross negligence, or willful misconduct of Hector Network.
You confirm that you fully understand that (i) our crypto products and related services are unregulated and can be highly risky; (ii) there may be no regulatory recourse for any loss from crypto-related transactions; (iii) investment in crypto-assets or similar products carries a high risk, may not be suitable for retail investors and the entire amount invested may be lost.
Hector Network is not a bank, securities firm, financial institution, financial services provider or provider of similar services and does not provide investment, tax or financial advice, financial services or consulting services to users of the Services. We are solely the provider of the Services. Your logged digital assets are not covered by insurance against losses or subject to any deposit insurance schemes or protections.
You understand that you are solely responsible for any tax reporting and payment, levies or similar duties applying to you in relation to your use of the Services (including but not limited to your purchase and/or sale of any digital assets) and you agree to hold us harmless and indemnify us for any tax-related obligations applicable to you in relation to your use of the Services.
You may not use the Services if you are located in, or are a citizen or resident of any state, country, territory or other jurisdiction where your use of the Services would be illegal or where your use of the Services would amount to any violation of any applicable law either by you or by Hector Network, which is your obligation to check before using the Services, including but not limited to:
any jurisdiction for which the Services, or any offer or solicitation in respect of the Services, would require registration or licensing or otherwise would be unlawful.
The Services are also not available to any person who is the subject of economic or financial sanctions or trade embargoes administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control (OFAC) or the U.S. Department of State or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom; or (c) any other relevant sanctions authority (“Sanctions”) or is organized or resident in a country or territory that is the subject of country-wide or territory-wide Sanctions.
The information on this page and all other pages owned, operated by, or related to Hector are for educational purposes only and do not constitute any sort of advice. Cryptocurrencies, NFTs and other blockchain offerings are unregulated assets and users should do extensive research into how they work, the potential risks and the tax liability of owning them in their native regions. Users should carefully read all the documents above before accepting.