Bitcoin (BTC) Price Can Hit $35K in Next 4-8 Weeks – Predicts Analyst Michaël van de Poppe
After a promising rally last week, Bitcoin (BTC) has faced challenges maintaining its bullish momentum over the past two days, leading to a rise in short-term bearish sentiments. With a decline of approximately 4 percent in the last 24 hours, Bitcoin’s price now rests on a crucial support zone.
The ability to hold this support will be pivotal in determining whether a bullish trend will continue in the coming weeks. Additionally, historical data suggests that during the pre-halving year, October tends to be a bullish month for the entire cryptocurrency industry.
Analyst Michaël van de Poppe Predicts a Bitcoin Rally to $30k
Renowned crypto analyst Michaël van de Poppe, based in the Netherlands, has noted that Bitcoin has consistently held above the 200-weekly Exponential Moving Average (EMA) in recent months. This suggests the bulls may have the upper hand in the weeks ahead.
However, van de Poppe emphasizes that Bitcoin’s price must maintain higher lows in the lower time frames for this upward momentum to continue. If this condition is met, there is potential for a significant rally in the $30,000 to $35,000 range within the next two months.
Looking at the Bigger Picture
As the U.S. government shutdown crisis was averted at the last moment, Bitcoin’s liquidity is expected to continue improving. This comes as investors prepare for the fourth Bitcoin halving event, scheduled for around April 25th next year. Nonetheless, the upcoming trial ruling concerning former FTX boss Sam Bankman-Fried (SBF) tomorrow is anticipated to impact Bitcoin’s volatility substantially.
Ripple News: Analyst Predicts XRP Price Rally – Is $0.66 Possible?
XRP Price has shown positive signs of growth, breaking key barriers and sparking predictions of reaching $0.66 soon. This relies on XRP staying above $0.50. Ripple, the company behind XRP, recently released a billion XRP tokens, slightly boosting the price. For a sustained rise, it needs to maintain above $0.50. Even though Ripple’s proper party failed to boost the coin price,
XRP Price Prediction – Is ATH on Horizon?
An analyst named Dark Defender pointed out a breakout in XRP’s price, similar to a rally in July after a legal win against the SEC. Dark Defender suggests $0.66 as a potential target if XRP doesn’t dip below $0.50. October usually sees good trading activity in the crypto market, favoring assets like XRP and Bitcoin.
Adding fuel to the fire, a technical pattern points to a possible upward shift. Thanks to Ripple’s latest ‘Clawback’ feature, that is seen as a positive for XRP’s value. This feature adds intensity to enhance control over tokens issued on the ledger, potentially positively impacting XRP’s performance.
Let’s see how and why it’s important for XRP to achieve a new ATH.
Analyst Projects a Breakout Rally for XRP
Historically, it’s proven that October is a good samaritan for the crypto market, especially after a relatively quiet third quarter. QCP Capital, a crypto asset trading firm, pointed out historical data indicates this seasonality in the crypto market. If this pattern holds, it could bolster XRP’s performance in the short term.
In a technical analysis, the analyst highlighted that XRP ended September with a “doji” candlestick pattern. But what this pattern suggests is more interesting: there is a silver lining between buying and selling pressure, hinting at a possible reversal from the recent downtrend. According to the analyst, this could indicate that XRP might move towards $0.66.
A Long Dive Possible if…
From here onwards, the analyst sees a long-term channel that may hit resistance levels at $0.91 and $1.33, with the potential for a new all-time high at $5.85 if it surpasses $1.8815. Currently, XRP trades at $0.50797, seeking support at the 38.2% Fibonacci retracement level at $0.5083 on the 4-hour chart.
If XRP can breach this critical resistance level, the analyst anticipates that the all-time high (ATH) will come into play. However, should further capitulation occur, the crypto analyst foresees a substantial support zone ranging from 39 to 46 cents.
Ripple News: Analyst Predicts XRP Price Could Break All-Time High Record Soon
Over the past 24 hours, Ripple (XRP) Price has shown a 2.5% price increase, making it one of the stronger performers. In seven days, XRP has risen by 1.83%. However, short-term price prospects remain uncertain. Despite this uncertainty, there is growing optimism about XRP’s future, driven by its recent legal victory.
In his X post, Matthew Dixon, CEO of crypto valuation platform Evai, shared his belief that an XRP bull run is possible based on insights from market analysts. However, he advises cautious short-term trading and closely watching key resistance levels before committing to a long-term investment strategy.
But what is adding to this bullish theory, especially since post-Ripple abandoned a 15M deal and moved 75M for XRP asset redistribution? Let’s take a look.
Analyst Paints a Bullish Scenario for XRP Pump
Dixon noted that XRP’s recent legal triumph, where a US District Judge ruled in its favor, has catalyzed its bullish trend. The judgment clarified that certain XRP sales do not qualify as securities. As the crypto community closely watches XRP’s performance, whether it can sustain its positive momentum remains. Dixon notes the need for XRP to convincingly breach key resistance levels before committing to a long-term investment strategy.
While others see Ripple’s planned exit from Fortress Trust in September as a positive trigger for the XRP price, ripple will continue to support Fortress Trust as an investor. This decision may be related to the SEC case’s high legal costs of $200M, allowing Ripple to reallocate resources. XRP’s price has seen recent gains, possibly influenced by this development and concerns raised during a hearing involving SEC Commissioner Gary Gensler.
XRP Price -Take it with a Grain of Salt!
Despite the positive shift in market sentiment, Dixon remains cautious. Given the volatility and regulatory uncertainties in the crypto market, he advises a measured approach. While some analysts project substantial gains for XRP, predicting prices as high as $250, Dixon stresses the importance of vigilance. He intends to monitor XRP’s performance closely and will consider becoming a long-term investor if the bullish trend persists.
This makes sense, as after breaking out of the falling channel, XRP faced resistance at the 200-day EMA. However, the price retraced to retest the channel breakout, gaining bullish momentum afterward. Currently, the XRP price trades at $0.5162 with an intraday fall of 1.05%, reflecting a minor pullback as bears get active at the EMA.
A Short-Term Overhal, Long-Term Potential
Dixon, while staying cautious, favors short-term positions with close stop losses until overhead resistance is definitively breached. If this occurs, he is willing to adopt a long-term investment perspective, provided the conditions for a sustained bull run remain robust. Do you agree with his sentiments? Tell us.
LINK Price Prediction : Chainlink Poised for a Massive Rally, Analyst Maps High Levels
After a period of volatility earlier in the month, Chainlink (LINK) has shown bullish momentum, emerging as a top performer in the crypto market over the past week. The coin is currently trading within an upward channel and has recently experienced a golden cross, hinting at potential value appreciation in the near future.
However, a glance at the Relative Strength Index (RSI) builds a possibility of red candlesticks or sideways movement in the coming days. The RSI is nearing the overbought zone above 70.0, which typically leads to corrections as the market cools down after a period of overheating.
At present, LINK is trading above the $6.50 level and the 100 simple moving average on the 4-hour chart. Additionally, if the bulls gain power and ignite bullish momentum, the price is predicted to break out of the rising channel and test its resistance level of $7.25. If there’s an upward push, resistance may be encountered near $7.45, followed by significant levels at $7.50, $8.00, and $8.20. The next major hurdle is anticipated around $8.50, with a potential test at $8.80 following a breakthrough.
Here’s are the target’s revealed by analyst.
Analyst Predict Short-term Bullish Trend
Crypto analyst Kevin Svenson suggests that Chainlink (LINK) could be on the cusp of a breakout rally. He points out that LINK recently surpassed the 500-day Simple Moving Average (SMA), a significant long-term indicator. Is it a potential sign of a broader shift in the cryptocurrency’s trajectory? Giving his nod, Svenson anticipates a short-term bullish trend, possibly rallying towards the macro resistance level.
Moreover, looking at the RSI indicator he cautions that LINK might require more time before entering a full-fledged bullish phase. He highlights a resistance line at around $10.90, suggesting a range of interest between $10.13 and $11. In the event of a breakout, a retest of lower levels may occur before a sustained upward move. Currently, LINK is valued at $7.60, marking a 2% decrease in the past 24 hours.
On the other hand, it appears that the price is currently waiting to reflect the decision of the Federal Reserve, crypto legislations, economic turbulences, and more!
Floki: The Next Dogecoin? Analyst Predicts Bullish Breakout
Floki, the fifth-largest meme coin by market capitalization, has experienced a downward trend since February of this year. However, recent developments have brought increased excitement to the meme coin market.
Investors have been drawn to Floki thanks to its notable liquidity, making it easy to buy and sell. According to the latest data from the decentralized finance (DeFi) aggregator, Dex Screener, Floki boasts total liquidity of approximately $3.2 million on Pancakeswap and $3.8 million on Uniswap.
Floki Price Action Analysis
Prominent digital asset analyst Crypto Tony, with a substantial following of over 339k on the X platform, believes that Floki is poised for a price rebound in the months ahead. He points to a critical support level on Floki’s weekly chart, hinting at a potential breakout.
As a result, Crypto Tony encourages meme coin enthusiasts to consider accumulating more Floki assets for promising returns in the near future.
Also Read: Floki Inu Coin Price Prediction: Will FLOKI Price Reach $0.00005 By The End Of 2023?
Another Dogecoin in the Making?
Notably, Crypto Tony suggests that Floki’s price action may mirror that of Dogecoin (DOGE), which has displayed early signs of a bullish breakout. Previously, the analyst had predicted that Dogecoin’s price could dip to around $0.04 before making a comeback towards its all-time high (ATH).
Also Read: Top Reasons Why Dogecoin Will Surpass All-Time High in the Next Bull Rally
With the meme coin market heating up and influential figures like Elon Musk and Crypto Tony showing interest, Floki could be a coin to watch for sure.
Chainlink Price Analysis: LINK Price Positioned for a Breakout, Analyst Predicts Strong Performance
Chainlink (LINK), a prominent provider of reliable price oracles for DeFi developers, appears poised for a significant breakthrough after several months of consolidation. The Chainlink ecosystem boasts a robust community comprising node operators, data consumers, and investors. Furthermore, the Chainlink team’s collaboration with developers through the BUILD program has strengthened its position in the crypto space.
Chainlink Price Rally
A renowned crypto analyst, Altcoin Sherpa, shared insights on Chainlink’s future performance, predicting it to be one of the leading performers in the upcoming crypto bullish cycle. From a technical standpoint, Altcoin Sherpa noted that LINK has remained within a price range of $5.527 to $9.33 for the past 505 days, with an average trading volume of approximately $2.7 billion.
Altcoin Sherpa emphasized that LINK may not be ideal for active trading but is a reliable choice for long-term investment, suggesting holding it for a minimum of six months.
Although a weekly death cross between the 50 and 200 Moving Average (MA) indicators may indicate short-term weaknesses, the rising divergence on the weekly Relative Strength Index (RSI) has increased the likelihood of an imminent breakout. Notably, LINK’s price closed above the 50 MA the previous week.
In the past, when LINK attempted to rally beyond the upper boundary of the horizontal range, it resulted in capitulation and significant liquidation. With increasing buyers showing interest in Chainlink, crypto analysts are confident in its performance during the next crypto cycle.
Market Overview:
On Monday, the Chainlink ecosystem had a Fully Diluted Valuation (FDV) of approximately $7.2 billion, with a 24-hour average trading volume of around $214 million. According to our latest crypto price oracles, LINK’s price was trading at approximately $7.22, marking an increase of about 1.3 percent in the past 24 hours.
Bitcoin Price To Hit 34,500 Level in November – Analyst Predicts
As financial markets worldwide respond to varying economic indicators, the cryptocurrency landscape, particularly Bitcoin, remains a focal point of discussion. Captain Faibik, a distinguished figure in Bitcoin analysis, has provided insights into the potential trajectory Bitcoin might follow this coming October.
Consolidation is the Game
Captain Faibik suggests that Bitcoin will likely remain confined within a particular trading range, referring to it as a “wedge.” This price range is between $26,000 to $24,000. It’s speculated that Bitcoin might drop to $23k throughout this month, only to rebound with a potentially stronger force in November, eyeing a rise to around $34,500.
Market Indicators and the BTC Path
At the time of writing, Bitcoin’s value is $26,557, recently dropping below the critical $27,000 mark. This decline comes on the heels of the financial sector’s reactions to the Federal Interest Rate decisions, which often profoundly impact various market assets, including cryptocurrencies. With such volatile factors in play, it’s possible Bitcoin’s slide could extend further, even dipping below the $26,000 mark.
Major financial events, including reports emerging from the Federal Open Market Committee (FOMC), invariably influence the trajectory of assets, and Bitcoin is no exception. With increasing downward pressures, market trends suggest that Bitcoin might approach, or even breach, the $25,400 mark. Should this materialize, a definitive bearish trend for the cryptocurrency could be established.
A Silver Lining for Investors?
However, not all indicators suggest a sustained downturn for Bitcoin. Key market indicators, like the Relative Strength Index (RSI), provide a glimmer of hope. If the RSI moves confidently above the 50-point threshold, it could be an early sign of Bitcoin breaking its current slump. Such a move would signify the potential for Bitcoin to break the $27,455 barrier, which could then clear the way for the currency to climb up, perhaps even surpassing the $28,000 level.
Bloomberg Analyst Warns of Significant Downside Risk for Bitcoin Amid Rising Interest Rates
In the cryptocurrency world, Bloomberg analyst Mike McGlone raises cautionary flags about the future of Bitcoin, warning that the cryptocurrency may be facing a significant “800-pound gorilla” downside risk. He highlights a significant downside risk that the cryptocurrency is currently facing.
McGlone’s Warning Regarding Bitcoin and Rising Interest Rates
In a recent interview on macroeconomic trends, senior macro strategist Mike McGlone from Bloomberg Intelligence expressed his concerns about the current state of Bitcoin.
McGlone highlighted that Bitcoin’s low-interest rates had given rise to a new era characterized by increasing interest rates—a factor that could significantly impact its future trajectory.
McGlone even suggests that Bitcoin is currently experiencing a “reversion” process, which is influenced by the Federal Reserve’s tightening of monetary policy. This shift holds potential consequences for the value of Bitcoin.
When interest rates rise, it can have consequences in various assets. For instance, riskier investments like Bitcoin may experience a decline in value. This happens because investors seek safer alternatives with more attractive returns, such as government bonds. According to McGlone’s analysis, this could potentially result in Bitcoin losing over 5% of its current value.
Moreover, McGlone draws a comparison between Bitcoin’s trajectory and that of traditional assets. He specifically highlights the excessive price surge that Bitcoin has recently experienced. Additionally, he points out the resemblance to Amazon’s stock and other high-risk assets, suggesting a potential shift in Bitcoin’s future behavior.
Analyst McGlone Reveals Bitcoin’s Possible Price Trajectory
Mike McGlone expressed his concerns regarding the downside risk of Bitcoin. Additionally, he outlined potential price targets for the cryptocurrency in the upcoming months.
McGlone suggested that breaking below the $25,250 support level in Bitcoin may trigger a deeper bearish trend. This could potentially push the price down to $24,170 or lower.
McGlone pointed out the potential upside of a sustained break above the $31,000 resistance level. Such a breakthrough could pave the way for an optimistic trend, possibly pushing the value to new all-time highs beyond $35,000 throughout the year.
ETH Price Analysis: Analyst Predicts a Bullish October for Ethereum
In recent days, Ethereum (ETH) has encountered short-term bearish sentiments as it undergoes a daily death cross between its 50 and 200 Moving Averages (MA). Many traders anticipate imminent weakness, coupled with a price rejection around the $1,737 support/resistance level, the emergence of a double tops pattern, and a declining daily RSI divergence. Additionally, historical data suggests that September tends to be a bearish month, especially in Bitcoin’s pre-halving years.
Ethereum Price Analysis
Prominent crypto analyst Crypto Tony predicts an impending Ethereum relief rally in the coming months, followed by a deeper correction toward a support level near $1,370. He suggests that Ethereum’s price could surge as high as $1.9k before the bullish momentum wanes. Notably, Crypto Tony anticipates a bullish October for Ethereum, drawing parallels with historical patterns observed in Bitcoin’s pre-halving years.
Given Ethereum’s pivotal role in the altcoin market, Crypto Tony foresees most altcoins following a similar price trajectory, characterized by periods of rapid price increases followed by corrections.
Development and Market Outlook
The Ethereum network continues to dominate the DeFi (Decentralized Finance) ecosystem, boasting a total value locked (TVL) exceeding $20 billion. This stronghold has prompted other smart contract-oriented blockchains to develop EVM-compatible environments to secure future growth prospects. Furthermore, Ethereum’s on-chain activity remains robust despite the challenges posed by the recent crypto bear market.
While Ethereum faces immediate bearish pressure due to technical indicators and historical trends, Crypto Tony’s analysis suggests a potential relief rally in the near future. Traders and investors should closely monitor these developments and exercise caution in this volatile market.
The broader crypto landscape, including altcoins, is also expected to experience similar price movements in the coming months. Ethereum’s continued influence on the DeFi space highlights its significance in the evolving blockchain ecosystem.
Ripple (XRP) News: Analyst Predicts SEC Appeal Denial in Ripple Lawsuit Will Send XRP Price to New Highs
XRP Price has experienced a resurgence, climbing back above the 50-cent mark within the past 24 hours, trading at approximately $0.5078 during the early Asian market hours on Tuesday. This resurgence has sparked optimism for a new bullish momentum, despite a recent correction that erased the gains made following the July summary judgment. While there has been a prevailing short-term bearish outlook, the sustained interest in digital assets by both institutional investors and retail traders, driven by concerns about high inflation and interest rates, has effectively prevented a crypto market downturn.
Crypto analyst Crypto Kaleo, a prominent figure in the digital asset space, suggests that XRP’s price is poised for a rebound, having established a robust support level of around 49 cents. The analyst contends that both XRP’s USD and Bitcoin pairs have broken free from a logarithmic descending trend and appear ready to rally on higher timeframes. Furthermore, He anticipates that a denial of the SEC’s interlocutory appeal against the summary judgment will serve as a catalyst for a significant bullish trend in both XRP’s USD and Bitcoin pairs.
Taking a broader perspective, XRP’s price is also benefiting from the decreasing dominance of Bitcoin, which has been on a downward trajectory since reaching its peak earlier this year in June. Additionally, it’s worth noting that crypto funds often shift from Bitcoin to top-performing altcoins as investors seek lucrative trading opportunities.
In the bigger picture, Ripple continues to actively develop infrastructure for mainstream adoption of XRP. The company has recently made several acquisitions and entered partnerships with various financial institutions to facilitate seamless cross-border transactions through XRP. Consequently, XRP’s price is anticipated to be among the leading performers in the eagerly anticipated crypto bull market.
Bitcoin (BTC) Price to Surge Above $30K in October – Predicts Crypto Analyst
Bitcoin’s price in 2023 has been marked by volatility and uncertainty. While recent setbacks have raised concerns, technical analysis, and market factors indicate the potential for a bullish trend. Popular analyst Michael Van De Poppe has shed light on Bitcoin’s recent trend and has also opened up about the potential levels.
Bitcoin started 2023 on a positive note, gaining an impressive 83% to reach a high of $31,035. However, it faced a setback in mid-August, witnessing a 7.2% drop in less than 24 hours, from $29,000 to $26,000.
Several factors are influencing Bitcoin’s price movements in 2023. The European Central Bank’s decision to raise the interest rate has contributed to the strengthening of the US dollar. Additionally, inflation data and labor market strength in the United States have impacted market sentiment.
Poppe said, “You can see that we’re building a beautiful range, which means this is very much comparable to the price action we witnessed in 2015. Let’s go there. Here [in 2015] we had been establishing a range of sideways action for a long time, and couldn’t break through it until the pre-halving run took place.”
Bitcoin’s price action has shown signs of consolidation and range-bound trading. It has rebounded from key support levels, indicating the potential for an upward move. One crucial level to watch is $26,800, which, if broken, could lead to consolidation before a potential breakout.
The trader believes that Bitcoin could potentially reach $45,000 before the next halving event, which seems likely. In simpler terms, the trader expects Bitcoin to go up to around $32,141 in the next month, then dip to approximately $28,700 before making a move to higher prices.
At the time of writing, Bitcoin is trading at $26,300 and is down by more than 2 percent in the last 24 hours.
Don’t Expect XRP Price In Ripple’s “Proper Party”, It is a Community Celebration Says Wall Street Analyst
Wall Street veteran Linda P. Jones has shed light on Ripple’s upcoming “Proper Party,” dispelling rumors that it’s solely about XRP’s price. Instead, Jones revealed that the event represents a celebration of Ripple and XRP’s freedom from legal constraints.
Jones expressed her enthusiasm for the “Proper Party,” slated for September 29 in New York City, following a crucial legal triumph on July 13. She anticipates the event to be remarkable and encourages those attending, believing it will be a worthwhile experience.
The party is Not About XRP Price, Its Firm’s Hard Work to Overcome SEC
Crucially, Jones advised against fixating solely on XRP’s price during the celebration. She emphasized that the party signifies more than just a price rally; it signifies the removal of regulatory shackles that have long hindered Ripple and XRP. This newfound freedom, she believes, paves the way for a brighter future for both Ripple and its digital asset, XRP.
Moreover, Jones also highlighted the key opportunity to connect with the vibrant XRP community, underscoring the value of physical meetings and interactions. The step is to gain investor faith back in its native token and showcase the company’s recent achievements.
“The frosting will be meeting the incredible people in the XRP community.” Said Jones
It’s a Larger Than Life Event for the XRP Community, Find all the details here
Jones concluded her remarks by extending gratitude to Brad Garlinghouse, CEO of Ripple, and the entire Ripple team. She commended their dedication, means, and enthusiasm in organizing the celebration. As for the event itself, Ripple has provided detailed information on its website, offering free registration. Attendees must register using their legal names, and the event is exclusively for individuals aged 21 and above, requiring government-issued ID for verification.
Will they Make Any Major Announcement?
Even though Ripple’s “Proper Party” is not just about XRP’s price nobody has also denied the possibility of launching an IPO in the event and rumours of XRP case Settlements. The party surely represents a milestone celebration of Ripple and XRP’s liberation from regulatory chains. It’s an event that promises to be memorable and offers attendees a chance to connect with the broader XRP community, marking an exciting moment in Ripple’s journey.
With or Without Party XRP is Facing Rejections?
XRP prices are not having the best times, as they plunged by 2.85%, in the past 24 hours. While the global market cap has increased by 1.54%, it indicates that market sentiment is bullish. However, Some fractals imply a positive reversal in the next few days, which may boost XRP prices. Hope it recovers and breaks the $0.50 mark.
Is XRP Price Due for a Rebound? Analyst Maps Next Levels
In the wake of the groundbreaking summary judgment in the SEC vs. Ripple case this July, XRP experienced a dramatic rollercoaster ride, surging over 100 percent initially only to subsequently erase all those gains. This legal development has left the cryptocurrency community buzzing, especially when it comes to analyzing its price action.
Recent reports from crypto market experts reveal that XRP’s value plummeted to as low as 46 cents during early trading in New York on Monday. The prevailing bearish sentiment surrounding XRP is primarily attributed to a series of uncertainties, coupled with stiff competition from other digital assets offering similar cross-border solutions.
XRP Price Action: A Statistical Perspective
Respected digital asset analyst Egrag Crypto, boasting a substantial following of over 35,000 enthusiasts on the X platform, has offered a fresh perspective on XRP’s current market correction. Employing the widely recognized Heikin Ashi method, this analyst meticulously analyzed all the corrections that followed a three-week rally in XRP’s history. The outcome of this analysis revealed that, on average, XRP experienced a drop of approximately 51.045 percent during these correction phases.
Significantly, the ongoing correction in XRP has reached approximately 53 percent, placing it in line with the historical average decline after a minimum of three weeks of bullish momentum. Based on these data-driven findings, the analyst has drawn a promising conclusion: a price rebound appears imminent in the coming weeks.
Nevertheless, it’s essential to note that XRP’s price may continue to dip, potentially reaching as low as 40 cents before securing a significant recovery. Additionally, historical data indicates that September, especially in the pre-halving year, tends to be a bearish month for the broader cryptocurrency market.
In summary, XRP’s price action remains a hot topic within the crypto sphere, with market experts closely monitoring its movements and offering valuable insights into its future trajectory.
Crypto Market Prediction: Analyst Maps Buy Levels For Bitcoin and Major Altcoins
In the world of cryptocurrency, the winds of uncertainty are blowing, with many predicting a forthcoming market selloff. If these predictions materialize, the total valuation of the crypto market may dip below $1 trillion once again. Historically, September, particularly before Bitcoin’s halving, has proven to be a bearish month for the leading cryptocurrency and the broader altcoin industry.
Notably, on-chain data reveals that institutional funds are steadily flowing into the market, regardless of the price volatility that has been witnessed recently. Just last month, an address holding more than $3 billion worth of Bitcoins was traced back to Robinhood Markets, further underscoring the growing institutional interest in the crypto space.
Bitcoin and Altcoins Predictions
According to a prominent crypto analyst, known as Blockchainedbb on the X platform, the crypto market is on the cusp of a significant buying opportunity. The analyst anticipates a drop in Bitcoin’s price, with a projected range between $19,000 and $21,000 in the near future. However, Blockchainedbb does not foresee Bitcoin falling below the $18,000 mark again.
Turning to the altcoin market, the analyst anticipates a similar trend, with Ethereum poised to drop by approximately 23%. Ethereum’s price is expected to range between $1,000 and $1,200 in the coming weeks. Furthermore, the analyst has issued price targets for select altcoins, including Solana (SOL) at around $10, OCEAN at $0.20, Ripple’s XRP at 40 cents, TRIAS at $2.90, and Elon Musk-backed Dogecoin (DOGE) at $0.04.
However, it’s worth noting that the crypto market has displayed a propensity for sudden upswings, even amidst bearish sentiments that have led to mass trader liquidations.
XLM Price Prediction: Analyst Predicts Stellar Price To Surge 500% In Coming Months
In recent times, the blockchain payment project Stellar (XLM) has witnessed substantial growth, primarily attributed to a surge in adoption by institutional investors. This ascent comes as its closest rival, Ripple Labs, grapples with regulatory hurdles stemming from programmatic XRP sales.
Stellar Lumens (XLM) has not only managed to navigate these challenges but has also thrived, forming strategic partnerships with prominent entities such as BlackRock, Circle USDC, and humanitarian aid organizations.
Despite its success, the price of XLM has been closely mirroring the fluctuations of XRP, owing to market speculation about regulatory implications. According to the latest cryptocurrency market data from Tradingview and Coingecko, XLM was trading at approximately $0.1245 against the United States dollar on Friday, marking a decline of about 2.54 percent over the past five days.
XLM Price Analysis
Digital asset analyst Egrag Crypto, a well-known figure in the crypto community, shared insights on the X platform. Egrag Crypto suggests that Stellar Lumens (XLM) could be on the verge of a significant breakout, potentially exceeding $1 in value.
This bullish outlook is contingent on a cross between the 21 Exponential Moving Average (EMA) and the 200 Moving Average (MA) in the weekly time frame. If this bullish crossover materializes in the coming months, Egrag Crypto anticipates a staggering price rally of over 500 percent, reaching approximately $1.10.
Notably, the analyst draws parallels between the current bear market for XLM and the one experienced between 2018 and 2021. Presently, the XLM price is undergoing a retest of the support level at approximately 11 cents, which coincides with the 50 Moving Average (MA) on the weekly timeframe. However, the stability of this support level is under threat due to prevailing bearish sentiments within the crypto market.
XRP Price Prediction: Analyst Anticipates Dip to $0.28, Then Surge to $1
XRP stands at a pivotal crossroads. A comprehensive assessment by Poseidon, a well-acknowledged crypto pundit, offers insights into the coin’s future trajectory. With the recent turbulence, where does XRP go from here?
Let’s break down Poseidon’s prediction and analysis.
Diving into Monthly XRP Price Predictions
In its heyday, XRP stood out among its heavyweight peers, experiencing a meteoric rise, particularly during market bubbles. However, events like a lawsuit against it prompted a surge, which was unfortunately not sustained due to a lack of buyers, said Poseidon. The recent erratic behaviors point towards two crucial levels – $0.40 (mid-point) and $0.28 (the lower limit). With the previous month closing below the high range, Poseidon predicts an imminent dip to $0.40.
A Glimpse of the Weekly Chart
The weekly landscape reveals XRP’s abrupt ascent, primarily driven by news influences. While a continued bullish trend would have seen the coin settling above its high range, it appeared to falter due to scarce buyers. The present scenario indicates a potential drop to the $0.40 mark. Post this, a slight surge is expected, only to be followed by a slump to the $0.28 mark. The crypto market’s volatile nature is highlighted with Poseidon’s statement: “This market is unforgiving.”
Day-to-Day Speculations
On the daily front, the charts illustrate a series of rapid hikes, only to be shadowed by a slower, more painful descent. The swift fall from its peak has left a gap in its wake, creating a window of uncertainty. Poseidon stresses that if XRP dips below $0.28, he’d reconsider investing, eyeing a 15-fold return on a bullish run. And while there’s no certainty regarding its all-time high, the odds of XRP touching $1 in a favorable bull market remain promising.
At present, with XRP trading at $0.50 and showing bearish signs both daily and weekly, the market awaits its next move.
Could Bitcoin ETFs Be Bad News for Crypto Exchanges? Bloomberg Analyst Thinks So!
As the crypto world eagerly anticipates the U.S. Securities and Exchange Commission’s (SEC) verdict on Bitcoin exchange-traded funds (ETFs), Bloomberg’s senior ETF analyst Eric Balchunas is making an impactful prediction. In a sizzling recent episode of the “Unchained Crypto” podcast, Balchunas said that the advent of Bitcoin ETFs might be bad news for crypto exchanges like Coinbase which operate by charging high fees.
Why Is This a Big Deal?
Balchunas says that if Bitcoin ETFs get approved by the U.S. government, a lot of people will start buying them instead of actual Bitcoin. Why? Because it’s cheaper and simpler. This could mean less business for crypto exchanges that charge high fees for trading.
So, Are Exchanges in Trouble?
Maybe. Balchunas warns that crypto exchanges should watch out. Many of them charge really high fees, sometimes 1.5%, while a Bitcoin ETF might charge as low as 0.35%. People like saving money, so they might move to ETFs if they can.
While the situation appears grim, it’s not all doom and gloom for exchanges. The rise of Bitcoin ETFs could also signal a lucrative shift towards custody service fees. After all, those investment firms rolling out ETFs aren’t exactly planning to stash their Bitcoin under a digital mattress.
Public Sentiment: An Uphill Battle for ETF Acceptance?
Balchunas may be bullish on the prospects of Bitcoin ETFs, but he faces stiff opposition. Numerous social media users have countered, claiming decentralized exchanges won’t just roll over and play dead. These platforms cater to a different risk profile, one that may not be easily wooed by the allure of ETFs.
The ticking clock of the U.S. Securities and Exchange Commission’s upcoming decision on Bitcoin ETFs adds another layer of suspense. Following a court ruling that deemed the SEC was incorrect in rejecting Grayscale’s Bitcoin ETF application, Balchunas and his colleagues are raising their bets. They now see a whopping 75% chance of spot Bitcoin ETFs launching this year.
As we await the SEC’s decision, scheduled for mid-October, the future of cryptocurrency exchanges hangs in the balance. Will ETFs be the meteor that causes an extinction-level event for high-fee crypto exchanges, or just another evolutionary pressure in the rapidly adapting world of crypto? Only time will tell!
BTC Price Today: Crypto Analyst Michael van de Poppe Warns of September Being Historically Worst For Bitcoin
Bitcoin enthusiasts might be on edge, especially with prominent crypto analyst Michael van de Poppe raising alarms over the recent market fluctuations. He’s highlighted the rocky terrain Bitcoin seems to be treading, especially with its value dipping below crucial benchmarks.
Bitcoin’s Vulnerable Stance in September
Van de Poppe firmly believes that September historically stands as a challenging month for Bitcoin. He recalled the last green month for the digital currency as far back as 2016 and 2015. Following those years, Bitcoin typically faced losses ranging from 5-8% each September. With such trends, he forecasts the price might plummet further to figures between $23-24k, lurking beneath the 200-week EMA.
Market Indicators and Predictions
This crypto maestro further dissects the recent aggressive price sweep at $25,800. Although it signified a promising entry point for many, van de Poppe was skeptical. He opined that after such a substantial dip, another drop could be imminent. His predictions seemed accurate when the price took another hit, slipping below the critical $25,700 mark and stagnating there.
With the recent price downturn, many might expect a cascade of short-sellers expecting the bear trend to continue, especially amidst ETF approval delays. Yet, van de Poppe believes this might be the “final dip before we can proceed in up only.” Citing historical patterns, he added that 2015’s last quarter saw a massive upswing. If history repeats itself, the end of this year could mark a remarkable turnaround for Bitcoin, especially with 2024 earmarked as a pivotal year for the cryptocurrency.
Price Points to Watch
According to van de Poppe, the Bitcoin price range of $24,700 to $25,200 is one to monitor closely. Should the currency linger around this bracket, it may signify the end of the lows, heralding a potential bullish surge. However, if this zone is breached, he warns of further dips to regions around $23-23.5k or even as low as $20K.
As usual, insights from experts like Michael van de Poppe offer a valuable lens to gauge future trajectories of crypto markets. For potential investors, the closing months of this year and the dawn of 2024 might present crucial decision-making junctures.
Ripple Shares May Reach $140,000 After IPO, Predicts Wall Street Analyst
Ripple’s recent victory over the SEC is a game-changer, enabling the company to regain its lost stability and embark on new ventures to enhance its hallmark cross-border payment solution. The icing on the cake? The Mastercard partnership. Even amidst a recent crypto market dip, Ripple’s native token, XRP, has garnered positive attention.
XRP, Ripple’s native digital currency, recently experienced a significant boost, with its price climbing to an impressive $0.94, tantalizingly close to the $1 mark. As of today, XRP is trading at $0.51.
Jones’s Bullish XRP Theory
Renowned Wall Street expert, Linda Jones, believes that investing in Ripple shares at their current price, which hovers around $40, ahead of its potential Initial Public Offering (IPO), is a shrewd move. Despite the present share price, Jones encourages investors to look beyond the immediate numbers and consider Ripple’s underlying value, which she estimates at approximately $6.6 billion.
Jones asserts that Ripple holds significant growth potential in the upcoming years, drawing a parallel with Coinbase, a US-based cryptocurrency exchange, which went public with a staggering $86 billion valuation.
Read More: Here’s How XRP Could Boost Ripple’s IPO Valuation!
Buy Now, Reap Later!
Since Ripple’s current valuation stands at least ten times lower than Coinbase’s, Jones suggests that individuals who purchase Ripple shares today could potentially witness a more than 10x increase in their initial investment.
She offers an example to illustrate this point: if an investor allocates $10,000 to Ripple now, this investment could potentially grow to $100,000, even if Ripple doesn’t surpass Coinbase’s performance.
Understanding the Future Impact
What makes it interesting is the distinctive accounting practice. Currently, Ripple assigns zero value to its XRP assets on its balance sheet. On this, Jones argues that if Ripple were to fix a value to its XRP holdings at the current price of $0.5 or based on its previous high of approximately $3.84, the growth potential would be substantial.
Simply, a $10,000 investment in Ripple might earn an impressive return on investment (ROI) of $140,000, assuming Ripple follows a similar trajectory as Coinbase. However, it’s important to remember that investing in stocks always carries a degree of risk, and past performance is not necessarily indicative of future results.
Have your say: Are you riding the Ripple wave?
XRP Price Faces Potential Drop to $0.41 If Drops Below This Crucial Level – Warns Analyst
The price of XRP has experienced a significant decline, erasing all the gains it previously made following Judge Torres’ ruling, which granted Ripple a partial victory in the SEC lawsuit. Moreover, whales have been steadily offloading their XRP holdings over the past two months, contributing to the downward pressure on the asset.
Potential Bottom for XRP Price Hinges on $0.6
EGRAG CRYPTO analysis suggested that XRP must reclaim the $0.6 price level to confirm that its recent decline has reached its nadir. Failure to do so could lead to a short-term drop to around $0.41.
The analyst highlights that XRP Price should re-enter a previous trading channel and close above the pivotal levels of $0.6 and $0.67 to regain the bullish momentum. Currently trading at $0.5256, achieving $0.6 would necessitate a 14.13% increase. A failure to reach this level might indicate a short-term bearish trend. On a different note, EGRAG projects a possible pullback for XRP within the range of $0.41 to $0.43, potentially setting the stage for the next upward movement.
Bearish Trend Factors: A Closer Look
Several key indicators suggest that XRP bears may be losing their grip. Firstly, there’s been a noticeable uptick in trading volume, indicating heightened participation in XRP trading. This surge could signify growing belief in XRP’s potential and a heightened interest among traders.
Secondly, bears are struggling to maintain control over XRP’s market value. This challenge arises from XRP’s unusual resilience, defying the typical pattern where prices often dip after a prolonged growth phase. Instead, XRP has sustained its upward momentum.
As XRP balances on crucial support levels, traders and enthusiasts are closely monitoring how the cryptocurrency navigates these challenges. They eagerly await signs of a potential bullish rally. Currently, the coin is trading at $0.5308, reflecting a significant increase of 2.97% in the last 24 hours.
In the dynamic world of cryptocurrencies, XRP’s future trajectory remains uncertain, with its value influenced by a complex web of factors. The coming days will undoubtedly bring further insights into the cryptocurrency’s fate.
Probability Skyrockets To 75% For Spot Bitcoin ETF Approval, Says Bloomberg Analyst
According to a recent post on X, senior Bloomberg analysts have predicted that the odds for the approval of a Spot Bitcoin ETF have soared to an impressive 75%. Following Grayscale’s victory against the SEC, the US market might soon get the first Bitcoin ETF.
SEC’s Dominance Declines Following Lose
According to two senior Bloomberg ETF analysts Eric Balchunas and James Seyffart, the probability for the approval of Spot Bitcoin ETFs within this calendar year has been revised upward to 75%, with an impressive 95% likelihood projected by the end of 2024.
While the previous estimate of 65% had already accounted for Grayscale’s favorable outcome, the unanimous and decisive nature of the recent ruling has exceeded expectations. This leaves the U.S. Securities and Exchange Commission (SEC) with minimal discretionary leeway for future decisions on the matter.
Following Grayscale’s recent legal victory over the SEC, wherein the court mandated the regulatory body to reconsider its rejection of a Spot Bitcoin ETF application, the likelihood of such an ETF being approved this year has surged by an additional 10%. The momentum for approval appears to be accelerating daily.
In the final analysis, experts indicate that the SEC’s recent legal setback signals increasing challenges for the regulatory agency. They specifically point out that the SEC will find it increasingly difficult to rationalize additional rejections, given the pressure from strategic deals, adverse public relations, and Hashdex’s innovative strategy. As a result, the prospects for the inaugural Spot Bitcoin ETF receiving approval for U.S. operations this year are becoming increasingly likely.
While the United States has not yet greenlit the establishment of a Spot Bitcoin ETF, the tide appears to be turning.
Eric said, “Getting asked about deadlines coming this Friday. We will not be surprised if the SEC delays given the ruling JUST happened. That said, not sure timelines will matter as much in this situation, prob more likely we wake up one day and hear SEC has given in and launch imminent.”
Next Week Is Crucial For The Crypto Market
The U.S. SEC is approaching its initial deadlines to render decisions on a total of seven Spot Bitcoin ETF applications. This comes in the wake of its legal setback against Grayscale Investments in a U.S. federal appeals court.
According to multiple SEC filings, investment firm Bitwise is slated to receive a decision regarding its ETF application on September 1. Other major firms such as BlackRock, VanEck, Fidelity, Invesco, and WisdomTree are all anticipating the SEC’s rulings on their respective funds by September 2.
Concurrently, Valkyrie is scheduled to receive the SEC’s decision on its application on September 4.
According to Eric Balchunas, the approval of a Bitcoin Spot ETF by the SEC could potentially unleash a staggering $30 trillion in capital into the Bitcoin market.
Bitcoin’s Price Holds at $26k Support, Analyst Anticipates Volatility Ahead
Bitcoin’s (BTC) price has held precariously onto the support level of around $26k since August 18. Most crypto traders are looking at the zone between $24k and 25k as the next major support, which Bitcoin bulls can recuperate. Undeniably, Bitcoin’s volatility is on the horizon, following the recent capitulation that significantly rejuvenated the cryptocurrency bears.
Moreover, high-impact news is scheduled later this week including the United States Gross Domestic Product (GDP) second release, scheduled on Tuesday, the US unemployment claims on Thursday, and the unemployment rate on Friday.
Poppe’s Take on Bitcoin Price Action and Market Outlook
According to a post by a popular crypto analyst and influencer, Michaël van de Poppe, Bitcoin price is likely to continue dropping in the coming weeks based on historical data analysis. Notably, Bitcoin price has historically performed poorly in August and September, apart from the bull market years. However, Bitcoin price has performed well historically in October through December.
“In that regard, it’s currently the period to DCA and accumulate your positions and I’d be taking a weekly/monthly DCA approach on this, through which you can get a balanced position into the markets,” the analyst noted.
From the short-term perspective, Poppe expects Bitcoin price to find temporary support at around $25.7k. If the mid-range support level fails to hold in the near term, the analyst expects the crucial support zone between $24.8k and $25.1k to hold.
Meanwhile, Poppe highlighted that the weekly 200 EMA, which is currently acting as a strong support level, should determine the next Bitcoin price action.
BNB Hits Annual Low, Uniswap Volume Soars, Analyst Predicts Everlodge Gains
Within the dynamic crypto space, select altcoins stand out for their growth potential and opportunity to provide passive income. Among them is Everlodge (ELDG), which is making a name for itself in the real estate space.
Moreover, Uniswap (UNI) is also making waves as it surpassed Coinbase in spot volume. On the opposite end of the spectrum, Binance Coin (BNB) has dipped under its annual low, leaving investors worried. Today, we will jump into the price performance of these altcoins to see how far they can climb.
Summary
- BNB to reach $307.41 by the end of the year despite the dip
- Uniswap crypto projected to climb to $8.44
- Everlodge can spike by 20x at launch
Join the Everlodge presale and win a luxury holiday to the Maldives
Binance Coin (BNB) Dips to Annual Low
The BNB crypto made waves across social media as it dropped to $2.04, its one-year low, as the WSJ reported that Binance helped Russian users move money abroad.
Due to the legal and regulatory scrutiny of the Binance exchange and a large distressed BNB-secured loan weighing in on the crypto’s price, many are now diversifying. The BNB crypto has since recovered to $216. The BNB price saw a strong bounce from the support level, measured from the local low.
The RSI climbed back above the neutral 50 mark on the chart. This, however, does show potential bullish momentum on the lower timeframes. In addition, the market structure was bullish, and if the BNB price breaches past $216, it will reach new heights. According to the BNB price prediction, it can reach $307.41 by the end of the year.
Uniswap (UNI) Spot Volume Surpassed Coinbase
The Uniswap (UNI) quarterly spot volume exceeded Coinbase for the first time in Q1. The exchange facilitated approximately $155B and $145B worth of trades.
This has sent Uniswap crypto down a bullish pattern. With the crypto trading around the $4.5 price range, the Uniswap price is expected to climb even further.
The on-chart data suggests that Uniswap broke the rising channel pattern and fell below the significant moving averages. Moreover, the technical details suggest that further selloff could occur to retest the demand zone near $3.5.
But analysts are bullish, and its candlestick formation showcases a nullified selling pressure. The trading volume also increased, at around $89.38 million. Based on the Uniswap price prediction, it can reach $8.44 by the end of the year.
Everlodge (ELDG) To Spike by 20x
Through the introduction of fractional property ownership through NFTs, Everlodge promises a solid proposition to investors. Anyone can own a share of a $9 million luxury home through the platform for as little as $100.
Real estate has traditionally been seen as one of the most stable investments. With the agility and flexibility found through blockchain technology, Everlodge has created a system that can attract millions of users.
Instead of needing a lot of upfront capital, like millions of dollars, anyone from any walk of life can invest with just what they have. Properties get digitized and minted as NFTs. These NFTs can then be fractionalized and offer unparalleled security, transparency, and accessibility.
There’s even a dedicated Rewards Club, where investors can earn complimentary stays in luxurious properties. All of this is powered by the ELDG token. Its holders can stake it to get passive income opportunities and use it for governance.
Analysts predict that the token can surge by 20x at launch. So far, it has grown by 20% and trades at just $0.012. In the next stage, it will jump by 33%. Consequently, now is the best time to get into it before losing value.
Find out more about the Everlodge (ELDG) Presale
Website: https://www.everlodge.io/
Telegram: https://t.me/everlodge
Beware of Fake Bitcoin Breakout Amid ETF Approvals, Warns Analyst
The Bitcoin price has experienced a sharp decline, dropping below the $26,000 mark. Known for its unpredictable price swings, this infamous cryptocurrency is currently facing significant volatility, which has dampened its promising start-of-year bull run. However, it falls notably short of recovering even half of its highest value from the previous year. As a result of a substantial increase in supply at the $30,000 threshold, Bitcoin’s value is now undergoing a consolidation phase, hovering within the $25,000 range.
What lies ahead for you, the investor? Let’s read on.
Market Remains Optimistic But Cautious
The market’s optimism surrounding potential Exchange-Traded Fund (ETF) approvals for Bitcoin is juxtaposed by a stark warning from DonAtl. This industry expert cautions that Bitcoin bulls could be walking into a trap if a spot-based Bitcoin ETF gains regulatory approval. In a recent strategic analysis, DonAtl astutely notes that sellers might seize upon the ETF approval as an opportune moment to unload their Bitcoin holdings. This move could bring more turmoil than prosperity in a short span of time.
DonAtl’s concerns revolve around the possibility that even without an ETF rejection, the market’s course could shift. This scenario raises two possible outcomes: an unprecedented decrease in price or a wave of unfavorable news. Though the precise result remains uncertain, the inherent vulnerabilities of the market do raise legitimate concerns.
Read More: Bitcoin Price Prediction: Can BTC Reach $50,000 in 2023?
Two Scenarios Emerge
In a scenario where the ETF secures approval, it’s projected that the price might only manage to ascend to a range of $32,000 to $35,000, owing to the current market frailty. Conversely, if the ETF is rejected, the price could plummet to the range of $20,000 to $19,000.
Glimmers of Hope
Amidst the prevailing uncertainty, there are glimmers of hope. Recent positive developments include substantial investments from Blackrock and Valkyrie into mining firms, as well as a multitude of Bitcoin and Ethereum ETF applications. The launch of live ETFs in Europe, crypto initiatives in Hong Kong, and a significant Bitcoin investment by Oman contribute to the growing positive sentiment.
Read More: SEC Closer to Approving Bitcoin ETF? Marathon CEO Says Chances Have Crossed 50%
Adding to the optimism are the approaching deadlines for Bitcoin ETF applications by industry giants Blackrock and Grayscale’s GBTC, scheduled for September 1st. These deadlines have sparked expectations of a potential market resurgence. Additionally, the possibility of SEC delays in ETF approvals could lead to a period of market stabilization.
XRP Memo Revealed: Legal Analyst Spotlights New Dimension in Ripple vs. SEC Case
In a recent tweet, legal analyst John E. Deaton delves into the ongoing Ripple vs. SEC case, shedding light on significant developments that have caught the attention of the cryptocurrency community. Among these revelations, Deaton highlights a memo or statement by SEC lead prosecutors, indicating that Ripple’s CEO, Brad Garlinghouse, and the company were aware of the SEC’s investigation by June 14, 2018.
This revelation aims to undercut Ripple’s reliance on a speech by former SEC official William Hinman. Interestingly, while the memo’s details remain undisclosed due to privilege, it has stirred controversy for reportedly not recommending any action against Ripple’s sale of XRP tokens.
The Memo’s Enigma
Deaton underscores that as of June 13, 2018, the memo likely indicates that SEC lawyers were not yet considering XRP as a security. However, if the memo now carries weight, it could potentially implicate Ripple executives in breaching securities laws. Notably, Deaton points out that an independent auditor was approved by the government in 2015 to scrutinize XRP sales every six months and provide reports.
By June 2018, authorities had amassed three years of XRP sales data. Ripple’s presentations to regulatory bodies such as CFTC, SEC, and FinCEN, along with public portrayals of XRP as a decentralized payment system, are now under scrutiny. Does Deaton imply that the SEC grew uneasy about Ripple’s positioning?
Deaton also invokes John Reed Stark, known for his critical stance on cryptocurrencies and a likely belief that Ripple violated laws. Despite this, Stark acknowledges the necessity of an inquiry, creating a thought-provoking angle. The complexities of the case leave anyone who values the SEC and justice concerned.
SEC’s Clarity in Question
Bill Morgan, a legal expert, enters the fray with criticism aimed at the SEC’s perspective on digital assets’ value, specifically XRP. Morgan argues that the SEC aims to simplify matters by asserting that digital assets lack tangible value. This strategy, he believes, facilitates the application of the Howey Test to determine investment status. However, Morgan contends that the SEC overlooks the intrinsic value digital assets can possess based on functionality and utility.
The Ripple vs. SEC battle continues to evolve, evident from the agency’s recent request for an appeal and the availability of trial dates in 2024. This indicates that the legal tussle retains its complexity.
XRP Attracts Young South Korean Investors
Amid regulatory hurdles, a positive trend emerges: XRP gains significant traction among South Korean investors in their twenties. Recent data reveals that XRP constitutes 20.7% of their investment portfolios, surpassing the combined presence of Bitcoin and Ethereum at 17.5%. This surge propels XRP to the second-largest coin in the country, signaling its popularity among young investors.
Will Bitcoin Price Dip Below 10K? Bloomberg Analyst Predicts Economic Slowdown
Bloomberg analyst Mike McGlone has expressed concerns about the global economy, forecasting a severe economic slowdown akin to the Great Depression of 1929. McGlone’s assessment revolves around multiple factors. He draws parallels between the current economic climate and the onset of the Great Depression. As economies grapple with challenges like recessions, contraction projections, and ongoing geopolitical tensions, McGlone’s analysis suggests an impending global economic reset.
The analyst also delved into the topic of Bitcoin, stating, “The issue with Bitcoin is that it’s still in its infancy; it exhibits the highest volatility in the space. While I acknowledge the broader perspective and concur with the potential decline, envisioning it as a global digital gold, the present hitch is that it stands out as the best-performing asset in world history. The driving force behind this asset’s remarkable performance is digital gold and the zero interest rate environment.”
He went on to say, “We’re in the era of digitization. This transformation propelled Bitcoin to its current status. Even if it were to drop to ten thousand, it would still arguably remain the most exceptional performing asset to date. This, to me, presents a dilemma.”
McGlone particularly emphasized the unparalleled infusion of liquidity into markets during the pandemic, which he views as a precursor to the existing economic instability. McGlone meticulously examines economic indicators such as mortgage rates, new home construction, and existing home sales. These indicators, as per his analysis, augur a potential crisis waiting to unfold.
Drawing from historical events like the Great Depression and the market crash of 1929, McGlone draws parallels with the present situation. He observes that major stock indices continue to hover near peak levels despite economic turbulence, raising apprehensions about a substantial correction. This concern is further underscored by the fact that the S&P 500 remains relatively elevated when compared to historical recession corrections.
Analyst Issues Warning for Dogecoin and Shiba Inu – Here’s What Next For DOGE and SHIB Price
In the dynamic realm of cryptocurrencies, the fate of Dogecoin (DOGE) and Shiba Inu (SHIB) has been the center of attention. Altcoin Sherpa, a prominent analyst, has weighed in on their potential trajectories.
DOGE Price
Starting with Dogecoin, Altcoin Sherpa highlighted a critical juncture for the coin. DOGE had previously touched a pivotal support level at $0.057, which has become a point of interest. However, Altcoin Sherpa cautioned against hasty investments, noting that DOGE’s price might exhibit erratic behavior around this level.
If the support at $0.057 falters, the analyst warned that the next support level at approximately $0.045 could be tested. Altcoin Sherpa refrained from recommending Dogecoin as an attractive purchase in the current landscape, advising a patient stance instead.
SHIB Price
The analyst extended this approach to Shiba Inu (SHIB). Despite a fleeting upward surge, SHIB retraced swiftly. Altcoin Sherpa observed a downtrend in SHIB’s 200-day Exponential Moving Average (EMA), mirroring the bearish sentiment seen in Dogecoin.
The 200-day EMA breaking down indicated a potential descent to lower levels, specifically around 0.00000742. This prompted Altcoin Sherpa to conclude that SHIB’s market structure remains bearish.
Altcoin Sherpa recommended a watchful stance. SHIB was deemed unappealing due to its limited volatility and lackluster market conditions. The analyst cautioned against rushing into investments in these cryptocurrencies without thorough consideration. The prevailing downtrends and uncertainties surrounding DOGE and SHIB underscored the need for vigilance in the current crypto landscape.
Bitcoin (BTC) Price Won’t Surpass $30k Again Anytime This Year – Predicts Analyst
Renowned crypto analyst, Mags, has recently shed light on Bitcoin’s current market scenario, drawing comparisons to its 2019 behavior. According to Mags’ analysis, the digital currency may not breach the $30,000 mark again for the entirety of 2023, hinting at a potential rebound only in early 2024.
Echoes from the Past
In a reminiscent twist to 2019, Bitcoin seems to be replaying a similar pattern. Three years ago, after moving below its Bull Market Support Band, Bitcoin’s price lay dormant for almost an entire year before resurging. Presently, as Bitcoin drifts away from its Bull Market Support, Mags predicts it might hover between the $22,000 and $30,000 bracket for the remainder of this year.
At the time of writing this article, the crypto giant stands at $26,007. On August 23rd, it made an unsuccessful attempt to overcome a resistance at $26,833. This signifies that market pessimists are capitalizing on any price surges. Consequently, Bitcoin’s value remains trapped, fluctuating between $24,800 and $26,833.
Bulls vs Bears: The Tug of War
Consolidation near a range’s support traditionally denotes a bearish aura. The reason? It points to the absence of robust buying momentum from optimistic traders. This sentiment is further solidified by the descending 20-day Exponential Moving Average (EMA) marked at $27,463 and the Relative Strength Index (RSI) reflecting an oversold market – clear indicators that pessimists have the reins.
If Bitcoin’s price spirals below the $24,800 mark, it could activate multiple trade stop losses. This cascade could propel Bitcoin toward a significant support point at $20,000. On the brighter side, any move beyond the 20-day EMA could signal a resurgence, potentially steering the currency towards the 50-day Simple Moving Average (SMA) benchmarked at $29,055.
Bitcoin’s journey, often marked by its volatile nature, has always kept the global community on its toes. One thing is clear though – eyes will be on early 2024 for a possible revival.
Analyst Project Massive Growth for Arbitrum (ARB), Stellar (XLM) and Everlodge – Here’s Why?
The post Analyst Project Massive Growth for Arbitrum (ARB), Stellar (XLM) and Everlodge – Here’s Why? appeared first on Coinpedia Fintech News
Everlodge (ELDG) has showcased a solid display of market potential, where its beta stage sold out quickly. The unexpected level of attention has appealed to traders and investors. However, other established projects like Arbitrum (ARB) and Stellar (XLM) are also projected to grow, and today, we will see what kind of forecast each altcoin has.
Summary
- Arbitrum to reach $1.46 by the end of the year
- Stellar is expected to climb to $0.17
- Every lodge to spike in value by 4,000%
Join the Everlodge presale and win a luxury holiday to the Maldives
Arbitrum (ARB) Price Prediction
The Arbitrum (ARB) crypto’s price increased in April but dropped to $0.9 in the third quarter. Even though the Arbitrum crypto attempted to go up, it did not see much success. Yet analysts are optimistic about the future Arbitrum price outlook.
If the price stays higher than the moving averages for 7 and 14 days, it could keep heading up and reach $1.28 in the upcoming days.
The RSI index also suggests an upswing in value, as it exceeds the 50 level. With this in mind, however, according to the Arbitrum price prediction, it can reach $1.46 by the end of the year.
Stellar (XLM) Future Outlook
As for the Stellar (XLM) cryptocurrency, its price has steadily increased since August 17, creating a support area at the $0.1 price range. The price is trading at a confluence of a diagonal and horizontal level of resistance at $0.13.
If the Stellar crypto manages to see a successful breakout, it will indicate a bullish trend is coming. Analysts say the Stellar crypto can lead to a 30% increase in the upcoming months. However, if the Stellar price faces a rejection, it could drop to $0.1.05 again.
Moreover, the daily timeframe analysis presents an uncertain perspective for the Stellar price movement. Despite its recent rebound, it could surpass its descending resistance line soon. According to the Stellar price prediction, analysts believe it will climb to $0.17 by the end of the year.
Everlodge (ELDG) to Surge In Value
Aside from Arbitrum and Stellar, Everlodge has also gained high attention. The platform is now revolutionizing the property investment domain by making luxury real estate attainable for just about anyone.
For example, most luxury properties can range from $1 million to $10 million, especially in locations such as New York. However, through the power of Everlodge’s ecosystem, they can become accessible for as low as $100.
Through blockchain technology, Everlodge enables the creation of NFTs, which are fractionalized. As a result, people can buy a fraction of the property they are interested in. Moreover, by merging the benefits of NFTs with timeshare values, the platform can offer a robust and inclusive model for any enthusiast.
There’s also a dedicated Rewards Club, where members can get free stays across various upscale properties. These can also be resold, assuming the investors do not plan on using them for themselves.
ELDG is the native token behind the platform. Its holders can stake it and get passive income. Moreover, the Stage 1 presale value for the token is $0.012. It’s predicted to surge by 33% at Stage 2, to $0.016, and by 4,000% at launch.
Find out more about the Everlodge (ELDG) Presale
Website: https://www.everlodge.io/
Telegram: https://t.me/everlodge
Hashdex’s Bitcoin ETF Filing: Insights from Bloomberg’s ETF Analyst
The digital asset management firm, Hashdex, has just filed a 19b-4 with the NYSE, radically repositioning its DeFi ETF into a full-fledged Bitcoin ETF. This move is done without leaning on Coinbase’s Supervisory Sharing Agreement (SSA).
Let’s begin by appreciating the dramatic rebranding: the DeFi ETF is no more, and in its place stands the Hashdex Bitcoin ETF. Hashdex is changing its core strategy to hold spot bitcoin directly.
But Hashdex isn’t looking to tie up with just anyone; they’ve chosen a very particular partner in the CME Market. Rather than relying on Coinbase’s SSA, which has been the foundation for many prospective “pure” spot bitcoin ETFs, Hashdex will secure spot BTC through the CME Market’s Exchange for Physical (EFP) transactions.
What’s an EFP?
EFPs are a specific type of Exchange for Related Position (EFRP) transaction. These are special financial instruments that allow investors to seamlessly switch between futures and ETFs or baskets of stocks in the underlying index—without exposure to intraday market fluctuations. Essentially, Hashdex is aiming to swap futures for actual bitcoin.
Now, let’s talk about some of the details in this filing. Hashdex continually refers to Coinbase as “unregulated” throughout its documentation. While the decisions are clear—that Hashdex will not be relying on any “unregulated bitcoin spot exchanges”— this is indeed a competitive move.
SEC’s Regulatory Maze
Hashdex’s strategy to not rely on Coinbase’s SSA might offer a unique path to pacify regulators. The SEC has previously stated that the CME’s bitcoin futures market is a “regulated market of significant size,” which could potentially alleviate some of their concerns around market surveillance and manipulation.
BlackRock and other major players in the spot Bitcoin ETF space have been betting on surveillance-sharing agreements to satisfy the SEC. But so far, there’s no evidence that this is working. Hashdex’s daring move could either be a brilliant end-run around the regulatory obstacles or may bring a fresh set of complications.
Once the SEC acknowledges the filing and posts it to the federal register, the countdown will begin. The SEC will have 45 days to make an initial decision, which could be delayed up to a total of 240 days. All eyes will now be on how regulators react to this.
In the words of Nate Geraci, President of the ETF Store, ETF innovation never ceases to amaze. Hashdex’s move showcases the relentless ingenuity in the crypto asset management space, which Geraci likens to the “Silicon Valley of asset management.”
So what’s the bottom line? Hashdex is setting a new standard and challenging the status quo. They’re giving the SEC a solution on a silver platter. And if the SEC approves this, what we’re looking at is a potential sea change in how everyday Americans can securely invest in Bitcoin.