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Buy Your Favourite Football Club – With Crypto

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Buy Your Favourite Football Club - With Crypto - blockchain24,co

Being a football enthusiast is one thing. But what about owning shares in your favorite club? Apparently, blockchain may make such dreams reality. 

Today’s case was previously mentioned in the last Weekly Update – but it is interesting enough for a separate article. After all, not every day, we can witness the situation in which an institution not-related to the blockchain industry is bought by a cryptocurrency-based entity.

Unexpected transaction

Our story begins with Perth Glory, an Australian football team. As we learned last week, it is going to be acquired by the London Football Exchange Group (LFE). The company calls itself a football club stock exchange, and it is strictly related to the cryptocurrency industry. LFE gained in significance with 2018 ICO when it raised $70 million, which allowed it to launch its own token, LFEC, based on Stellar blockchain.

Perth Glory is playing in the Australian A-League – the highest-level league of professional football in the country. As you can see, we are not dealing here with some marginal sports club, but the established player on the worldwide scale. It makes the last revelations somehow an important matter both for the cryptocurrency industry and the sports world.

The club owner, a well-known Australian businessman Tony Sage, has recently confirmed the sale of 80 percent of the club to the LFE. Both sides are now only waiting for the confirmation from Football Federation Australia, the country’s main sports governing body. According to LFE, there won’t be any changes in the management structure of the club, nor in the operations or functionality.

Crypto football manager

But what exactly is the London Football Exchange, and why is it acquiring an Australian football club? According to the company’s website, LFE is aiming to utilize blockchain for the benefit of both football clubs and their fans. As for the first ones, the platform is meant to be a form of funding alternative for clubs, allowing clubs to raise new capital directly from people interested in such investment.

As for the fans, LFE is going to create a tokenized marketplace, offering various products related to their favorite clubs. The wide range of services started with ticket sales and merchandising, but the platform is also going to include accomodation, broadcast, and football retail services. On top of that, most devoted fans will, of course, be able to invest in particular clubs. 

All of those functions will be supported by LFEC token. And the company is not going to stop at only one club – the idea of LFE assumes gathering funds for buying more football teams. This way, sports enthusiasts will own shares in their favorite clubs by buying LFEC. At least in theory.

Community takeover

Although the case is still new, and we can’t be sure what the relationship between LFE and Perth Glory will look like in practice, the very idea of fans buying shares in firms is intriguing. In theory, it is going to utilize the blockchain to have more significant influence on their favorite entities. But on the other hand, how will such a process differ from owning traditional shares on a stock exchange? 

The only hope remains in the blockchain technology, which could possibly give such stakeholders some tools to influence – for example, via voting systems. But it still leaves us with one problem: the owners who acquired a larger number of tokens are likely to have a more significant influence. 

Nevertheless, the detail about the functioning of Perth Glory is still unknown. And since Tone Sage assures that LFE won’t influence the management of the club, then maybe owning tokens actually won’t have any particular meaning other than contributing to the favorite club. Yet the idea of community buying off some entity and self-governing it via blockchain is still very interesting.

Various reactions

According to Tony Sage, LFE is currently negotiating with other football clubs about a similar deal, and he believes that the community-oriented blockchain marketplace will own up to seven football teams in the next two years. The businessman himself strongly believes in the success of this cooperation. And he surely has a nose for various investments, since he made his fortune on the mining (the physical one, not blockchain).

Yet, not everyone is as enthusiastic about the deal as Sage. Outside the blockchain industry, information about being acquired by a cryptocurrency-related company is still quite a new thing. Many sports enthusiasts might be skeptical about such a situation rather than be happy about the possibility of closer integration between a sports club and their fans. But on the other hand, if funds for buying Perth Glory are indeed coming from its supporters, then everyone should be happy about that outcome.

Artykuł Buy Your Favourite Football Club – With Crypto pochodzi z serwisu Blockchain24.co | portal with cryptocurrency bitcoin & blockchain news.

Source: https://www.blockchain24.co/buy-your-favourite-football-club-with-crypto/

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Crypto Price Analysis & Overview September 25th: Bitcoin, Ethereum, Ripple, Chainlink, and Tezos

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Bitcoin

Bitcoin dropped by a total of 3% over the past seven days of trading as it reached the $10,600 level today. The cryptocurrency briefly pushed above the $11,000 mark last Friday but could not sustain this level as it broke beneath it during the weekend. On Monday, BTC saw a precipitous 7.5% fall as it dropped from $10,910 to reach as low as $10,200.

Bitcoin continued to head lower on Wednesday as it reached $10,140 before the buyers regrouped to initiate a rebound, which happened yesterday. During the rebound, BTC managed to break back above the 100-days EMA and reach as high as $10,760 – where it ran into resistance at the bearish .382 Fib Retracement.

The coin has dropped slightly from there to trade at $10,600 today.

Looking ahead, if the bulls can continue above the $10,760 level, higher resistance lies at $10,900 $11,000, and $11,200. Added resistance is expected at $11,340 (bearish .618 Fib Retracement), $11,500, and $11,600.

On the other side, the first level of support lies at $10,430 (100-days EMA0. This is followed by support at $10,330, $10,140, and $10,000.

btcusd-sep25
BTC/USD. Source: TradingView

Ethereum

Ethereum suffered a steeper 11.3% price decline over the past week as it reached the $346 level today. The coin was trading above $380 last Friday but started to drop lower during the weekend. On Monday, Ethereum fell from $365 to reach as low as $335 (100-days EMA).

The price decline continued on Wednesday, which saw ETH drop as low as $320. Luckily, the bulls regrouped for a rebound on Thursday in which ETH managed to reach the $252 resistance (bearish .236 Fib Retracement). It also produced a bullish engulfing candle, which is a strong bullish signal.

Moving forward, if the buyers can break the $352 level, resistance lies at $364 (2019 high), $382, $390, and $400.

On the other side, support is first expected at $336 (100-days EMA). Beneath this, support lies at $320, $306, and $300.

ethusd-sep25
ETH/USD. Source: TradingView

Ethereum also struggled against Bitcoin this week as it fell from 0.035 BTC to reach as low as 0.0311 BTC yesterday. The coin had found support yesterday at the .618 Fib Retracement, which allowed it to bounce higher to the current 0.0326 BTC level.

Looking ahead, if the bulls push higher, the first level of resistance lies at 0.033 BTC. Above this, resistance is located at 0.0337 BTC (March 2019 Support), 0.0347 BTC, and 0.0352 BTC.

On the other side, the first level of support lies at 0.032 BTC. This is followed by support at 0.0315 BTC (100-days EMA), 0.0311 BTC (.618 Fib Retracement), and 0.030 BTC.

ethbtc-sep25
ETH/BTC. Source: TradingView

Ripple

XRP witnessed a 5.5% price fall this week as the coin dropped from $0.25 to reach as low as $0.22 yesterday. The cryptocurrency managed to rebound from there to get as high as $0.24 today. However, the market is facing resistance at the 100-days EMA and must pass this to continue higher.

If the bulls break $0.24, the first level of resistance lies at $0.251 (bearish .382 Fib Retracement). Following this, resistance lies at $0.261 (bearish .5 Fib Retracement), and $0.271 (bearish .618 Fib Retracement).

On the other side, the first level of support lies at $0.235 (200-days EMA). This is followed by support at $0.23, $0.22, and $0.217.

xrpusd-sep25
XRP/USD. Source: TradingView

XRP is also struggling against BTC as it posted a fresh 2-month low at 2165 SAT (downside 1.414 Fib Extension) yesterday. The coin had slipped from 2300 SAT last Friday and continued lower until it hit the 2165 SAT support.

XRP has since bounced higher to reach the 2250 SAT level today.

If the bulls can break 2250 SAT, resistance is first located at 2300 SAT (bearish .382 Fib Retracement). Above this, resistance lies at 2350 SAT (bearish .5 Fib Retracement), 2400 SAT, and 2460 SAT.

Alternatively, support lies at 2200 SAT, 2165 SAT, and 2111 SAT.

xrpbtc-sep25
XRP/BTC. Source: TradingView

Chainlink

LINK saw a substantial 10% price fall over the past seven days, which saw the coin breaking beneath the $10 level and hitting as low as $7.31. There, it found support at a downside 1.272 Fib Extension level, which allowed it to rebound yesterday to reach the $9.90 resistance level today.

If the bulls can break $10, the first level of resistance lies at $10.40. Above this, resistance is found at $11.37 (bearish .382 Fib Retracement), $12, and $12.63 (bearish .5 Fib Retracement).

On the other side, support first lies at $9.00. Beneath this, support is found at $8.67, $8.00, and $7.31.

linkusd-sep25
LINK/USD. Source: TradingView

Against BTC, LINK dropped as low as 0.00072 BTC during the week. It was trading above a 3-month-old rising trend last Friday, but it went on to collapse beneath this support over the weekend. After reaching 0.00072 BTC, LINK bounced higher to get to the current 0.000935 BTC level today. Notice that it has returned to the previous rising trend line, which is now acting as resistance.

Looking ahead, the first level of resistance lies at 0.00095 BTC. This is followed by resistance at 0.001 BTC, 0.00103 BTC (bearish .382 Fib Retracement), and 0.00112 BTC (bearish .5 Fib Retracement).

On the other side, support is first found at 0.00091 BTC. This is followed by support at 0.0082 BTC, 0.00072 BTC, and 0.0007 BTC.

linkbtc-sep25
LINK/BTC. Source: TradingView

Tezos

XTZ saw the steepest price fall on this list as it dropped by 13% over the past 7 days. The coin fell beneath the $2.32 (.618 Fib Retracement) support on Friday and continued lower to crate a new 5-month price low as it reached $1.91. This support held over the past few days, and Tezos rebounded from here yesterday to reach $2.15 today.

Looking ahead, if the bulls break $2.20, resistance is found at $2.32, $2.53 (bearish .382 Fib Retracement), and $2.72 (bearish .5 Fib Retracement).

On the other side, the first two levels of support lie at $2.00 and $1.91. Beneath this, support is expected at $1.74 (.786 Fib Retracement), $1.68, and $1.56.

xtzusd-sep25
XTZ/USD. Source: TradingView

Tezos is suffering further against BTC as it produced a 7-month price low this week after reaching 18,600 SAT. The coin has since bounced from here to break back above 20,000 SAT today.

Looking ahead, the first level of resistance lies at 21,000 SAT. This is followed by resistance at 22,000 SAT, 21,750 SAT, and 24,300 SAT.

On the other side, beneath 20,000 SAT, support lies at 19,380 SAT, 18,600 SATm ad 17,600 SAT (.886 Fib Retracement). Added support lies at 16,600 SAT and 15,600 SAT.

xtzbtc-sep25
XTZ/BTC. Source: TradingView
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/crypto-price-analysis-overview-september-25th-bitcoin-ethereum-ripple-chainlink-and-tezos/

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Bitcoin Maintains $10K As Crypto Market Lost $16 Billion in 7 Days: The Weekly Crypto Market Update

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Another action-packed week took place in the crypto field. Unfortunately, the market is currently in decline as the entire capitalization lost around $16 billion over the past seven days.

The good news for Bitcoin bulls is that BTC managed to maintain itself above the critical psychological and technical support of $10,000. Things were looking rather promising until Monday when the price shot up to about $11,000.

Unfortunately, it was then when Bitcoin’s price took a sharp turn in the wrong direction and tanked to about $10,400. From there, it was a couple of days of sideways action until Wednesday when it dipped even further, calling questions whether or not $10,000 will hold. In the late hours of Thursday, however, Bitcoin bulls woke up and pushed its price to where it currently rests around $10,650.

Elsewhere, on Sunday, Buzz Feed reported that major banking giants such as JP Morgan Chase, Bank of America, Standard Chartered, HSBC, and more, were knowingly facilitating the transfer of up to $2 trillion related to suspicious and even criminal activity. This further supports the narrative that cash is used for illicit activities way more than Bitcoin. After all, $2 trillion is roughly 10x Bitcoin’s total market capitalization.

In another interesting development, the world will finally have its first official Bitcoin exchange-traded fund, though it may not be quite where people expected. It’s a collaboration between Nasdaq and a regulated Brazilian fund manager and will be launched on the Bermuda Stock Exchange (BSX).

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DeFi markets continue to boom as the total value locked in lending protocols surpassed $10 billion this week.

In any case, it’s interesting to see whether or not the hype will continue or if we will soon witness the burst of what many consider to be a DeFi-fueled bubble.

Market Data

Market Cap: $337B | 24H Vol: 105B | BTC Dominance: 58.3%

BTC: $10,613 (+2.46%) | ETH: $344.46 (+2.61%) | XRP: $0.237(+5.3%)

cryptopost_friday_1

World’s First Bitcoin ETF Approved with Expected Launch in Bermuda by End of Year. Nasdaq has collaborated with a regulated Brazilian fund manager to launch the world’s first Bitcoin exchange-traded fund (ETF). It should go live by the end of the year on the Bermuda Stock Exchange (BSX).

CoinGecko: 23% Participate In Yield Farming, But 40% Can’t Read Smart Contracts. According to a recent report by CoinGecko, 23% of people involved in the cryptocurrency field invest in yield farming. However, 40% of them can’t read smart contracts, leaving them seriously exposed to inherent risks associated with failures in the code.

FEW Brings Out DeFi Risks: Ethereum Proponents Caught Planning to Dump on Investors. Leaked screenshots of a Telegram group chat that includes some of the most popular Ethereum proponents have sparked a tweetstorm in Crypto Twitter. It appeared as if the participants were planning to create a token, airdrop it to themselves, hype it up, and dump it on the community.

Social Capital CEO Chamath Palihapitiya: Bitcoin Is My Best Investment Bet. The popular venture capitalist Chamath Palihapitiya has said that his best investment bet so far has been on Bitcoin. This is despite him having invested in countless successful companies and startups.

Gemini Has Now Opened Doors to Crypto Investors in the UK. The popular US-based Bitcoin trading platform Gemini has officially launched operations for its entire range of services in the United Kingdom. This comes weeks after it received a license from the country’s Financial Conduct Authority (FCA).

Document Leak Suggests Major Banks Facilitated Transfer of $2 Trillion in Dirty Money – 10x Current Bitcoin’s Market Cap. Buzz Feed reported on a major document leak that suggests that major banks have been facilitating the transfer of up to $2 trillion associated with illicit and criminal activities. To put things in perspective, this is roughly 10x Bitcoin’s total market cap.

Charts

This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Chainlink, and Tezos – click here for the full price analysis.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-maintains-10k-as-crypto-market-lost-16-billion-in-7-days-the-weekly-crypto-market-update/

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Bitcoin Price Needs to Break This Key Level Before $11,000 is Possible (BTC Analysis)

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Bitcoin bulls appear to be recharging after successfully breaking back into the main channel (yellow) above $10,360 and surging to $10,790.

An influx of $5 billion into the global crypto market cap over the past 24 hours has really helped prop up BTC prices above $10,700 and is also giving several altcoins a moment in the sun.

However, while this is promising news, we still need to see the global crypto market set a new higher-high above $355 billion (total market cap) to break the current downtrend and confirm the market has flipped bullish.

Right now, the only thing standing in the way of Bitcoin returning to the psychological $11,000 level is the 50-EMA line (blue) on the following daily BTC/USD chart. Currently around $10,780.

Price Levels to Watch in the Short-term

The daily 50 EMA is the main target right now for bullish traders; however, just slightly above that at $10,787, we also have the 4-hour 200 EMA (red), which received a noticeable reaction from bearish traders yesterday during Bitcoin’s surging rally.

These two price points will need considerable buying pressure to break, but if bulls are successful again, it should be an easy ride to $11,000.

Looking above that, we have the $11,200, the $11,360, and the $11,530 as the next set of likely resistances if Bitcoin manages to sustain its current momentum.

If bearish traders manage to defend the daily 50-EMA line, however, then we should look to the $10,580 as the first area of support, followed by the $10,440 and the main channel support line at approximately $10,390.

On the daily RSI indicator, we can see that Bitcoin has still not broken above the long-standing resistance (yellow arrow) with a higher high since August 1, 2020. This will be a crucial factor to observe over the next week as the leading crypto asset attempts to retake $11,000. If the indicator line moves above this resistance it will provide a strong buy signal to traders and could help drive prices up towards a new monthly high.

Total market capital: $347 billion

Bitcoin market capital: $198 billion

Bitcoin dominance: 57.1%

*Data provided by Coingecko.

Bitstamp BTC/USD Daily Chart

bitcoin price chart
BTC/USD chart via Tradingview

Bitstamp BTC/USD 4-Hour Chart

bitcoin price
BTC/USD chart via Tradingview
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-price-needs-to-break-this-key-level-before-11000-is-possible-btc-analysis/

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