• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit

Polkadot Snags No. 1 Spot In Dev’t Activity This Month – Time To Go Long On DOT?

Christian Encila by Christian Encila
4 months ago
in Cryptocurrency news
Reading Time: 3 mins read
Advertisement
Advertisement

Certainly a welcome change for those who work in crypto. Despite widespread doom and gloom, Polkadot native coin, DOT, has become the most discussed cryptocurrency in the community. Still, that’s not the end of the good news.

A recent tweet by @PolkadotInsider explained how Polkadot has more active developers than Ethereum. This demonstrates the ecosystem’s widespread appeal within the cryptocurrency sector as Polkadot is able to secure the top top spot in terms of development activity this month.

However, the question of whether or not DOT is a solid buy in the present needs to be addressed. In the meantime, with this decent achievement – is it a good time to go long on the crypto?

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
Related Reading: MATIC Backpedals Into Bearish Track Despite Its Social Dominance

⚡️TOP #Polkadot #DOT Ecosystem Coins by Social Activity
19 November 2022$DOT $CELR $LIT $KSM $DIA $PHA $CQT $EWT $ANKR $OCEAN pic.twitter.com/2cLLptJBve

— 🇺🇦 CryptoDep #StandWithUkraine 🇺🇦 (@Crypto_Dep) November 19, 2022

Polkadot Falls Short In Hitting New Peaks

The crypto market, as you may be aware, is now witnessing a bearish market mood takeover due to external factors of uncertainty and doubt.

All expectation of a DOT-beneficial relief rally in the near future has been dashed.

DOT’s value has decreased significantly over all time frames, but it has lost 23.7% in the past two weeks, as measured by CoinGecko.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Image: TradingView

As of right now, the token is selling for $5.15, which is a loss. Correlations with Bitcoin and Ethereum, two of the most popular cryptocurrencies, show that its price is tracking the market as a whole.

This could result in a catastrophe for DOT. If its association with BTC and ETH continues to decline, it will be dragged down with them.

As of the time of writing, the correlation between DOT and both ETH and BTC is 0.96, indicating that it will definitely move in the same direction as ETH and BTC.

RSI readings are also declining, with the indicator moving into the oversold region. The fact that the token’s price has never risen above the 50s portends a bleak outlook for its immediate future.

DOT is a DON’T Purchase, For Now

The downtrend is backed by lower lows and lower highs, as well as a widening Bollinger band, which indicates increased market volatility in the immediate future.

In the following days, the EMA ribbon provides a convincing signal for short positions as the price continues to decline.

As prices decline, short positions would be the most profitable strategy for investors and traders in this bear market.

As the price approaches the 161.80 Fibonacci retracement level, investors and traders with a buy-low, sell-high mentality should be cautious, as a near-term rally is unlikely.

Even with the good development activity and social activity of the ecosystem, these will not be sufficient if the market as a whole is in recession.

Related Reading: Curve Finance Sheds 31% Of Value In Last 30 Days – Are Things Really Bad For CRV?

DOT total market cap at $5.9 billion on the weekend chart | Featured image from Medium, Chart: TradingView.com
Tags: crypto newscryptocurrencyDOTPolkadot Ecosystemtechnical analysis
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Christian Encila

Christian Encila

Related Posts

Bitcoin

Is Bitcoin’s Security at Risk? Experts Weigh In

4 hours ago
Best Betting Sites Not on Gamstop in 2023 Betbeard

Best Betting Sites Not on Gamstop in 2023 Betbeard

7 hours ago
Bitcoin Bull

Bitcoin Net Taker Volume Nears In On Bullish Crossover

11 hours ago
XRP

John E. Deaton Claims XRP Is The Top Altcoin With A Comeback Story

13 hours ago
Ethereum Layer 2

Arbitrum, Optimism, And Polygon: Which Is The Ultimate Ethereum L2?

16 hours ago
Bitcoin price

Bitcoin Price Reclaims $28,000 Territory Amid Mounting Market Pressures

16 hours ago

Premium Partners

Play Finance

Trending Projects

  • 4 Best Upcoming ICO For 2023

    1 week ago
  • Crypto Investment for Long Term Growth in 2023

    1 week ago
  • 5 Cryptocurrency To Invest In 2023

    1 week ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
  • The Future Of The Crypto Industry And One Of Its...

    13 hours ago
  • Don’t Miss TMS Network (TMSN) 100x Growth Train; Algorand...

    15 hours ago
  • Riding The 2023 Bull: How Bitcoin, Ethereum, And SignUp...

    16 hours ago
  • Three Unique Top Presales To Buy in 2023: RobotEra...

    16 hours ago
  • Meta Masters Guild On Track to Become Web3’s Largest...

    17 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.