With major cryptocurrencies like BNB and ethereum currently facing challenges, market watchers suggest that investors can cut through the titans with bitcoin Spark’s brilliant model.
BNB Price Outlook
Binance Coin (BNB) price has had a difficult time moving away from its support just above $200. Furthermore, both volume and momentum indicators show weakness and bearish trends on the daily chart.
The daily moving average convergence divergence (MACD) has also shown a bearish crossover, solidifying the prevailing sentiment that sellers dominate the current BNB market. Analysts foresee the possibility of another test of key support at $206. They suggest that if this support is broken, BNB price could fall further to the $180 level.
ethereum Price Outlook
ethereum (eth) price failed to hold above the $1,665 level and moved towards a bearish zone, trading below the 100 hourly simple moving average.
Analysts suggest that if ethereum price fails to overcome the $1,665 resistance, it could continue to decline, with initial support near the $1,620 level and the next at $1,600. There is also palpable concern that a break below the $1,600 support could trigger a strong bearish wave, which could push Ether price below the $1,585 threshold.
What is bitcoin Spark?
bitcoin Spark is an innovative blockchain with a mission to overcome the limitations of its predecessors and usher in a new era of cryptocurrency transactions. It is rooted in the vision of Satoshi Nakamoto and therefore shares a notable similarity with bitcoin (btc), which has a maximum supply of 21 million BTCS coins. However, bitcoin Spark has a more impressive technical architecture. It has a short block time, a high transactional capacity per block and a large number of nodes, allowing for faster and more profitable transactions.
Additionally, bitcoin Spark features multiple layers, with a dedicated smart contract layer that includes separate execution systems, all of which achieve their purpose on the mainnet. This layered approach fosters a highly scalable ecosystem, allowing developers to leverage a variety of high- and low-level programming languages. Therefore, bitcoin Spark presents itself as a solid platform for various smart contracts and decentralized applications (Dapps).
Perhaps the most revolutionary feature of bitcoin Spark is its proof-of-process (PoP) consensus mechanism. Unlike conventional crypto mining practices, PoP non-linearly rewards miners for confirming blocks and contributing their processing power to the network. The non-linear approach, coupled with large nodes, makes BTCS mining accessible and profitable even for people with low-powered devices. The bitcoin Spark team is set to introduce an easy-to-use mining app compatible with popular operating systems including iOS, Android and Windows, further democratizing the mining process.
bitcoin Spark’s innovative vision extends beyond mining; plans to lease the energy provided to people and organizations that need remote computing resources, who must pay for the service in BTCS. Additionally, the network will incorporate discrete advertising spaces into its app and website, subject to community monitoring to ensure compliance with terms and conditions. Advertisers will remit payments in BTCS, and network participants will receive 50% of the revenue generated, along with additional incentives for monitoring ads.
Notably, BTCS mining rewards will run on an elastic system that takes into account revenue generated within the bitcoin Spark network. If more revenue is generated, the mintage is reduced proportionally, moving the bottom line even further. Therefore, the ability to supply unlimited processing power, coupled with the burgeoning marketing industry, suggests that network participants will remain consistently profitable despite market fluctuations.
bitcoin Spark (BTCS) is currently selling for $3.00 with a 7% bonus in Phase 7 of its Initial Coin Offering (ICO), but will launch on November 30 at $10. Analysts suggest that the combination of favorable market conditions at launch, technological innovation, and token scarcity position bitcoin Spark as a promising candidate for significant price growth.
To learn more about bitcoin Spark:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
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