Attention Traders: The Crypto Market May Experience a Massive Crash Soon, Here’s the Timeline!
After the crisis experienced by the traditional finance system due to the pandemic, cryptos were widely adopted and attracted many authorities. Since then, the space has been closely monitored in an attempt to bring it under control. While the crypto companies were under the radar, it appears that stablecoins may soon join the fray.
As per some reports, the largest stablecoin, USDT, has been widely used by Russia to send money to the west, evading KYC & sanctions imposed. Nearly 3 OTC (over-the-counter) brokers have been identified in Moscow who sell thousands of dollars in stablecoins for cash and further exchange it to the UK for pounds sterling. These are all carried out for cash but without any KYC.
So with this, the global regulatory bodies may soon shift their focus onto USDT and search for a strong excuse to ban it. The USDT dominance is waning and has been under bearish influence for a quite long time as traders are now more focused on Bitcoin & other altcoins. However, if the authorities hit hard on Tether, the whole crypto market may come under threat.
Presently, the market cap and the USDT dominance, are both falling apart and may soon reach lower support as they are both trading along the descending trend line. If this happens, then more problems could arise in the coming days.
Therefore, cryptos may soon come under attack from all sides of technology, despite their constructive intentions. Hence, if the levels drop as mentioned above, then there is a fair chance that a significant crash may chase the crypto space.
Bitcoin May Crash To $15k To Form A Fresh Bottom Soon, Predicts Crypto Trader
The turbulence in the banking industry has influenced the world of cryptocurrencies, particularly Bitcoin. While there was apprehension about the viability of digital currency, recent developments reveal a renewed sense of optimism among traders and analysts as Bitcoin rose to its highest value since June 2022. However, the question remains: is Bitcoin’s recent surge sustainable?
Some traders are bullish on Bitcoin, while others warn that the recent rally may be short-lived. Altcoin Sherpa, who trades pseudonymously, warns that Bitcoin could hit a new high of over $30,000 before tumbling by more than 50% to up to around $15,000.
However, his analysis is based on macroeconomic conditions, and he notes that if inflation is dying down and the Federal Reserve Bank wants a soft landing, Bitcoin may not dip as far as he predicts.
Despite Altcoin Sherpa’s warning, some traders remain bullish on Bitcoin, citing its growing institutional adoption and potential as a store of value. Others are more cautious, noting that Bitcoin’s volatility makes it difficult to predict its future price movements.
At the time of writing, Bitcoin is worth $24,680, leaving traders to speculate on whether it has bottomed out or if there’s still more room for it to fall. It is important to keep an eye on market trends and make informed decisions based on research. While predictions are a good starting point for investors, the crypto market remains unpredictable, and investors should take them with a grain of salt.
Whales Withdraw $4B Tether Amid Market Volatility: Crypto Crash Or Enticing Opportunity?
According to on-chain analytics provided by Lookonchain, a crypto whale made over $3.3 million over the weekend by purchasing USDC at its lowest point during the USDC de-pegging incident.
The whale then sold USDC after the stablecoin re-pegged, demonstrating the benefits of having a high-risk appetite.
Bitcoin Purchases Amidst Banking Crisis
Amidst the U.S. banking crisis, whales were also observed purchasing Bitcoin as a hedge against the declining bond and stock markets. Despite Bitcoin’s price rejecting $26.4k in the last 24 hours, the amount of BTC being transferred from exchanges has spiked.
Whales Withdraw Tether USDT at Unprecedented Rate
As Bitcoin prices remain uncertain, analysts at Santiment have observed crypto whales withdrawing Tether USDT at an unprecedented rate. Almost $4 billion in Tether USDT has been transferred out of exchanges in the past ten days, signaling a potential shift towards stablecoins.
Stablecoin Appetite on the Rise – Call for Worry?
As stablecoin purchases increase, a possible market crash may be on the horizon. While the USDC stablecoin reported exposure on SVB, Tether USDT reserves were unaffected, and the company printed $1 billion in the recent past, leading to a market cap of approximately $73.7 billion.
Crypto and Stock Markets Might Crash Within Days: Warns Larry Mcdonald
The second-largest stablecoin, USDC, from Circle Internet Finance, which has a $42 billion market valuation, de-pegged from the dollar as a result of the Silicon Valley Bank collapse. The price of the USDC/USDT trading pair on Kraken fell as low as $0.94, marking its lowest level since April 2021. Concerns over the effects of Silicon Valley Bank’s bankruptcy caused USDC to decline from $1 on Friday, despite the fact that it is intended to retain a 1-to-1 peg with the U.S. dollar.
Lately, the market has been chaotic with the collapse of the SVB Bank and Signature Bank. This is bound to have negative long-term extents. Let’s assess to what extent.
Biden Administration to bail out collapsed banks
Emergency procedures were implemented by US banking regulators on Sunday night to stop any possible spillover from Silicon Valley Bank’s failure. One of the procedures is making sure depositors at the bankrupt bank can access all of their funds. The news was made after regulators on Sunday liquidated Signature Bank, the second failed institution in a week. According to the announcement, depositors in Signature would likewise be fully reimbursed.
Larry Mcdonald Predicts Crash
The Bear Traps Report founder Larry McDonald said on “Mornings with Maria” that the Fed is trying to catch up as inflation has started to rage. He added to this by saying that the 21 Lehman systemic risk indicators that look at equity and credit point to one of the highest probabilities of a crash in the stock market looking out 60 days.
As the Fed begins its most aggressive rate hike campaign since the 1980s to combat decades-high inflation, McDonald claimed that the outflow of capital from middle-class families has been “spectacular”. The consumer price index is still around three times higher than the pre-pandemic average, but gradually declining from a peak of 9.1% reached in June of last year.
Given the current state of affairs, McDonald’s prediction does not appear to be far-fetched.
But, every cloud has a silver lining, and there are ways to profit from such markets. Make sure your investments are diversified and do extensive research.
Will USDC’s Sudden Collapse Trigger Crypto Market to Crash? Here’s What to Expect from Top Assets
The world of cryptocurrency is known for its volatility, with prices rising and falling on a regular basis. However, the recent collapse of the USDC stablecoin has caused investors to fear that the entire market could be on the verge of a catastrophic crash. Though several analysts assure a rebound for the crypto market soon, the rising FUD situation is forcing investors to liquidate their holdings to avoid any massive loss.
USDC’s Dramatic Fall Sends Shockwaves Through Crypto Industry
Following a significant sell-off, the global crypto market experienced a widespread rebound on Saturday morning, with Bitcoin and Ethereum prices increasing by 5% and 6%, respectively. Nonetheless, top stablecoins USDC, DAI, and USDD saw significant depegging, attributed to the lingering effects of the Silicon Valley Bank crisis on the crypto market.
Amid a tumultuous week for cryptocurrencies, the loss of its U.S. dollar peg by Circle’s $43 billion USDC stablecoin has left Bitcoin, Ethereum, and other major cryptocurrencies preparing for significant volatility. For the first time since November, the total market capitalization of cryptocurrencies fell below $920 billion, and within the past 24 hours, over $200 million in futures tied to cryptocurrency were liquidated.
What to Expect from Market Next?
Even though the USDC’s price has lost value, some traders are wagering on a slow rebound towards the $1 mark by purchasing USDC at a lower price, which could result in a potential 10% profit if USDC reaches its dollar peg.
Market experts believe that USDC will soon gain the $1 mark as Circle has five more banks for its cash reserves, and its $3.3 billion exposure out of $40 billion will not affect the USDC much. However, leading assets like Bitcoin and Ethereum are currently experiencing a short squeeze, with massive funds being poured in the last 24 hours.
If USDC continues to decline, it may lead to a significant downward trend for the price of Bitcoin, given that the average funding rates have reached their most negative point since the FTX incident in November 2022. If Bitcoin opens a daily candle below the $19.5K level, it may initiate a death rally in the market, plunging several assets to December levels.
This week, the price of Bitcoin has declined by 10% following the collapse of the crypto-friendly Silvergate Bank. As a result, the combined crypto market has lost $100 billion, and the prices of the top ten cryptocurrencies, such as Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon, and Solana, have all experienced significant drops.
In addition, the forthcoming CPI data could potentially trigger a sharp decline in the crypto market, especially if the data leads to a 50-basis point rate hike, which would result in an extended bearish trend for numerous assets.
Crypto Market Crash: Altcoins Plunge as Crypto Whales Offload Holdings
The cryptocurrency market is known for its volatility, and the past few days have been no exception. Some altcoins have been experiencing a massive sell-off, and the reason behind it may be the whales offloading their holdings. Crypto whales are individuals or entities that hold a large amount of cryptocurrency, and their actions can have a significant impact on the market.
The Altcoins Dumped by the Whales
According to Ran Neuner, the host of the popular YouTube channel “Crypto Banter,” altcoins are currently being dumped by the whales, adding additional supply pressure to the market. He believes that this is the reason why certain altcoins have sold off more than others. Neuner pointed out that the worst-performing tokens right now belong to Voyager, a crypto brokerage firm that owes its creditors $500 million.
The graph indicating Voyager’s Ether balance shows a sharp decline in the last couple of days. They have been sending 7 to 8 figures of crypto to Winter Moon and Coinbase daily. Neuner shared a screenshot of Voyager’s main portfolio, which includes assets like Decentraland (MANA), Phantom (XRP), Apecoin (APE), and Uniswap (UNI).
Neuner stated that the sell-off is putting additional pressure on a lot of these other alts. He warned that it’s much worse for top-end tokens like Shiba Inu (SHIB) and Chainlink (LINK), which are where the majority of the sell volume is happening. However, it’s still putting pressure on many other altcoins.
The Voyager Sell-Off
Voyager has been aggressively selling off its crypto holdings to pay off its creditors. This has put a lot of pressure on the altcoin market, as these assets are getting hit a lot more than other alts. Neuner noted that Voyager-related altcoins are significantly dropping, including Ether, SHIB, and LINK.
The Impact on the Market
The impact of the sell-off is felt more by altcoins that do not have as much volume, do not have as many buyers, and are not as popular. Neuner stated that the sell pressure did not matter when there was enough demand in the market. But with sentiment being so low and buyers not wanting to buy as aggressively, Voyager still needs to sell its assets to pay off its creditors.
Neuner advised investors to be cautious, especially with top-end tokens like Shiba and Link. These tokens are getting hit the most, but other alts are also being affected. The Voyager sell-off is putting additional pressure on the already uncertain market. Investors need to be cautious and keep a close eye on the market to make informed decisions.
Crypto Market’s Outlook for Next Week: Is a Severe Crash Waiting for Traders?
The crypto market has witnessed a severe plunge this week, and traders are now wondering if the market has reached its bottom or if another crash is on the horizon. As several macro events continue to shake the industry, the next week is crucial as several game-changing events will take place, determining the crypto market’s movement in the upcoming week.
Volatile Sessions Will Rule The Market
Today, the crypto market witnessed a massive selloff as investors identified risks after the collapse of the crypto-friendly bank Silvergate. Moreover, President Joe Biden’s proposed budget aims to “reduce mining activity” and could potentially subject crypto miners in the United States to a 30% tax on their electricity costs, resulting in a negative impact on the crypto space’s future.
The U.S. jobs data is under close scrutiny by traders, who are looking for signs of strong growth like in January with a low unemployment rate. Recently, the Labor Department released data showing that the U.S. economy added 311,000 jobs in February, with the unemployment rate increasing to 3.6 percent. The gain in jobs exceeded economists’ expectations, potentially increasing pressure on the Federal Reserve to accelerate rate hikes.
This could result in an extension of rate hikes and a 50-bps rate hike announcement this month. However, doubts over the Fed’s monetary policy in the upcoming months will be clarified after the release of U.S. CPI inflation data on March 14.
Hence, a rate hike after 14 March will eventually bring more volatility for crypto assets and lower the demand from investors willing to invest in the sector.
Bitcoin To Determine Next Week’s Trend
If the Fed comes up with strict monetary policies and rate hikes to combat the high inflation rise, it may significantly affect Bitcoin’s price and plunge the asset with another crash to the $15K level.
As of writing, Bitcoin price trades at $20K, with a decline of over 7% in the last 24 hours. The sharp decline in the BTC price chart has forced other assets to witness a similar meltdown. Over the past day, Dogecoin, Shiba Inu, Solana, and XRP have all experienced losses of approximately 10%, 9.20%, 9.50%, and 8%, respectively. The global crypto market also saw a downturn, falling by almost 8% and dropping below the $1 trillion mark for the first time since mid-January to reach $918 billion.
If the crypto market comes across another bad news next week, it may plunge Bitcoin’s price to December levels near $16K, marking another crash for the industry.
Top 3 Crash Gambling Sites
Crash gambling has exploded in popularity in recent years thanks to its exciting gameplay and huge reward potential. If you’re new to crash gambling, then no worries as it’s straightforward to understand and fun to play. Discover more about crash crypto gambling and the best crash gambling sites right here.
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Top Crash Gambling Sites
In this first section, you can expect to find a brief overview of the top crash gambling sites online today.
Stake.com – offers the best player community
BC.Game – offers the best bonuses
Cloudbet – offers the best range of sports
Current offers from the Best Crash Crypto Game Casinos
Here’s a handy overview of three of the most popular crash casinos and their strongest features:
| Site | Best For | Bonus Offer | Games |
| Stake.com | Overall game selection | 10% Rakeback offer and 200% Welcome bonus up to $1000. | 811 slots and a wide mixture of table and live dealer games including blackjack, roulette, and baccarat. |
| BC.Game | Bonus offers | Up to 270% Bonus on your First Deposit. | 1350 slots and 128 casino games, as well as 18 original BC games. |
| Cloudbet | Sports betting | 100% Deposit Bonus for New Players. | 40 slots, 28 video poker games, and 22 table games, from roulette to blackjack. |
Win Money Playing at Crash Casinos
Crash gambling is an online game that’s been gaining in popularity with players all over the world. It’s played on a grid layout, with a multiplier that steadily increases over the game, until it suddenly plummets (or crashes). Players make their bet and try to hold on for the biggest multiplier before the game crashes. If you manage to beat the crash, you’ll win the multiplier you exited the game with but, if the market crashes before this, you’ll lose your stake. Some casinos will even give players a chance to cash out early if they’ve reached a particular multiplier.
How Does The Currency System Work?
As crypto casinos, Stake.com, Cloudbet and Bc.game, allow players to deposit currencies such as Bitcoin and Dogecoin to play crypto games including Crash. However, you can also play this game at some social casinos, which don’t require players to make a crypto fund deposit.
If you’re playing at a social casino, such as Stake.us, then the currency system works a little differently. Rather than depositing or buying crypto funds, players at social casinos use Sweep Coins (at Stake.us these are called Gold Coins) and Stake Coins/ Cash as currency to play games. Different social casinos use different terminology for these but they work in the same way as standard currencies to allow you to stake on games. Neither Sweep Coins or Stake Coins have a real world monetary value as social casinos are for entertainment purposes only. Here’s a quick overview of these two types of currency:
Sweeps Coins: Sweeps coins are earned by players by logging into their social casino account or by taking part in specific competitions and challenges. They can also be purchased.
Sweeps Cash: Sweeps Cash can’t be bought but can be won through competitions and via bonus offers. For example, you might win sweeps cash for reaching a certain level in a game. Sweeps cash can’t be exchanged for real world money but can give players the chance to enter competitions and giveaways to win prizes including casino merchandise and cryptocurrency. These vary between social casinos.
How Does the Coin System Work?
As we’ve discussed, social casino players use Sweeps Coins to play games. They’re used in exactly the same way as normal currency to place a bet on a slot or table game. Social casinos give players a certain amount of Sweeps Coins every day but if gamers find themselves running out, they can also purchase more before the next top-up. Sweeps Coins are bought in ‘bundles’.
How to Play Without Buying Coins?
As social casinos, for entertainment only, players don’t have to purchase any coins to play games on sites such as Stake.us. Each game can be played in demo mode, without having to commit any coins at all.
How to get Free Sweeps Coins?
Free sweeps coins can be gained at social casinos in lots of different ways. Stake.us offers rewards for signing up to their site and posting on their online community board. You can also get free sweeps coins by logging into the site every day, referring friends to the site, and taking part in social media competitions and challenges, special giveaways, and bonuses and promotions.
Best Crash Crypto Game Casinos
Crypto casinos offer players the chance to play their favorite games with cryptocurrency. The best crypto casinos offer players a great range of bonuses and guarantee that players keep coming back with a catalog of exciting games, including slots, table games and more, as well as mega popular Crash games. The best casinos meeting these requirements right now are Stake.com, Bc.Game, and Cloudbet. All offer a range of different games and promotions that are great for new players and old hands alike. Read on for our detailed guide on each of these casinos.
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Stake.com was established in 2017 and is owned and managed by Medium Rare N.V. It is famous not only for its downright cornucopia of different games including slots, live dealer, and casino favorites, but also for its massive selection of Stake.com original games, including a Crash game which many players consider to be one of the best around. It also has a varied sportsbook that lets players bet on everything from sporting events to presidential election results.
As a crypto casino, Stake.com offers players a broad range of crypto currencies to use to play games. It also has a first class VIP program which lets players ascend through different tiers, all the way up to Obsidian level. Every time you play, you’ll build up points towards your VIP level so the more you bet, the more likely it is you’ll become a VIP. The VIP program offers exclusive treats and perks including weekly and monthly bonuses, and rakeback rewards (where you’ll get a certain percentage of every bet back).
Pros
– Site works equally well on desktop and mobile
– Regular promotions
– Excellent reputation among gamers
– Brilliant variety of games
BC.Game were also founded in 2017 and are owned by Media Games Malta (EU Limited). Unlike Stake.com, they don’t have a sportsbook but do offer a massive range of games. They also offer some of the best bonuses in the business, including the chance to level up every time you make a bet. Their bonus codes are affectionately referred to as shitcodes.
Once you’ve reached SVIP status (which is level 69 on the VIP program), you’ll receive more perks, including an invitation to the SVIP player’s annual party. You can also gain more rewards for chatting with your fellow players or for catching the site’s mascot, Coco the dinosaur, as he runs across the site.
BC.Game has two site specific cryptocurrencies: JB coin and BCD. JB coin can be used to play BC.Games but not games provided by third parties. It also can’t be exchanged, withdrawn, or deposited so is only really used to test out the site’s own games.
Pros
– Shows the house edge for all games
– 2 Factor Authentication protects player’s security
– You’ll be rewarded for chatting
– Vault Pro allows you to win interest on deposits
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The Best Slot Selection Casino: Cloudbet Casino
Cloudbet started life in 2013, making them the oldest of these three crypto casinos. They are owned and operated by Halcyon Super Holdings BV. Cloudbet offers a huge mixture of games, including slots and live dealer and table games. They also have a very popular sportsbook that lets you make live bets on sports as diverse as tennis and MMA, as well as quirky wagers on other events happening around the world (like who will be the next President of France for example). You can even live stream esports action (although no other sports can be watched live at the moment), which is something not many sportsbooks provide.
Cloudbet also has a regular range of bonus deals and promotions, and a special loyalty program for players. Loyalty points are won whenever you make a bet on the sportsbook or play a casino game with slot games winning the most points. There is also a VIP program, but you’ll be contacted about this only if you become eligible. Therefore details are limited about what it provides.
Pros
– One nice feature of the website is that you can change the background theme
– You can use your Google, Facebook or Github profile to make an account quickly
– Sportsbook lets you make wagers live in play
– Massive range of games
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How to choose the best Crash Casinos
When it comes to choosing the best Crash casino for yourself, you’ll want to consider a few different factors.
Game selection
If you’re a slots lover, then you’ll want to look for a site which offers a great range of games from the biggest and best-known names in the industry. Live dealer and table games are all available, and BC.Game and Stake.com also have a wide selection of their very own in-house games. Before you start playing any game, it’s worth finding out its RTP (Return to Player) rate as this tells you how much the house and you are likely to win on average.
Offers and free sweeps
All of these crash casinos have regular promotions and offers for players to keep things exciting.
As we mentioned, if you’re interested in social casinos, they also offer the chance to win regular free Sweeps Cash.
Cash prizes
Crypto casinos let players withdraw wins as cryptocurrency.
Social casinos, such as Stake.us, may offer competition prizes including cryptocurrency, casino merchandise, free games, and even holidays.
Is an app available?
At the moment, Stake.com doesn’t have an app for players, but its website is very easy to use and works absolutely fine on a mobile or tablet. Bc.Game is available to use on a mobile, but Cloudbet falls slightly here as it’s not particularly well optimized for anything other than desktop website use.
Loyalty and reward programs
All of these crypto casinos offer a loyalty program for players which rewards regular play and interaction with the site (or even posting in the community page in the case of Stake.com). Points can be won towards perks, including special bonuses and promotions.
What to look out for on Crash casino sites?
Before choosing a crash crypto gambling site, it’s important to consider the following factors, which will give you an overall picture of the playing experience:
Security
When visiting all of these sites to play Crash games, you can rest assured that they’re all completely safe. All are fully licensed to operate and use the latest SSL technology to ensure players’ details remain completely safe and confidential.
Usability
One of the biggest factors influencing a player’s choice of sites to play Crash games is the platform’s usability. All of these websites are easy to use and quick to navigate around, with a quick, smooth action that doesn’t have any major waiting times or delays.
Bonus offers
All of these crypto casinos offer a brilliant range of bonus offers to keep players interested. This includes Rakeback bonuses where you’ll get a percentage of every bet back, reload bonuses, and even hourly and weekly giveaways.
Customer support
Luckily, there are no worries with any of these crypto casinos as they all offer great customer support options if you have any queries. All of them offer a Help Centre where you’ll likely find the answers to the most common questions players face, including setting up accounts and making deposits. They also all offer online support 24/7, or the chance to email or use an online contact form; however, Cloudbet is probably the hardest to locate.
Payment methods
All of these crash casinos offer a mixture of payment methods for both deposits and withdrawals. All of them are crypto only; however, one great feature of Stake.com is that those without cryptocurrency holdings can use Stake.com’s exchange service to use other methods to deposit funds, which will then be turned into cryptocurrency (this includes debit and credit cards but bear in mind that there is a fee involved in doing this). Stake.com accepts the largest selection of cryptocurrencies; however, they all accept the most common varieties, including Bitcoin, Ethereum, Litecoin, and Dogecoin.
Overall selection of games
Whether you’re a slot lover or you prefer a few rounds of table games like blackjack and roulette, you’ll find it at all of these crypto casinos. Slots at all of the sites come from the best names in the industry, like Spinomenal and Play’n Go, and table games are varied enough to include craps, baccarat, and much more. Stake.com and Bc.game also have their own range of specially produced games that are exclusive to them.
Terms and conditions
You can find each casino’s terms and conditions on their site. These outline information, including what you’ll need to set up an account and details about promotions. It’s especially worth carefully reading the terms and conditions around promotions as there may be time limits to spending your bonus.
Best Crash crypto casino games – Summary
It’s easy to see why crash crypto games have gained in popularity over recent years. The ease of playing and the downright fun of the game make it a great option for all players while Provably Fair technology guarantees that you can rest assured that all of the games are completely transparent and legitimate.
You’ll find a brilliant selection of Crash games at all of these crypto casinos, as well as plenty of other gaming action to keep you entertained, from slots to sportsbooks. Each one has a slightly different offering, and distinct pros and cons, but whether you’re a newbie or an old hand, these three options are a super place to start when you’re looking for the best Crash casinos.
Crash casinos FAQ
That depends on your individual preference. If you’re after a huge selection of games, then go for Stake.com, but if you’d rather enjoy a juicy bonus for joining up, then BC.Game might be the one for you.
Yes, Stake.com, Bc.game, and Cloudbet are all completely legit and fully legal. They all offer Provably Fair games, something which is unique to cryptocurrency casinos. A new server seed is generated every few games, which guarantees that the point at which the game crashes is completely random.
All of these crash crypto gambling sites are brilliant for beginners. They’re easy to navigate and setting up an account is straightforward-all you’ll need to do is visit each site and enter your details. You can also try a Crash game in free mode to see how it works.
Withdrawals are made into crypto wallets, so you’ll have to exchange these into fiat currency if that’s your preference. Withdrawals are requested through your account and are pretty much instant (although you might have to wait 5-10 minutes on Bc.game). There are no limits on how much you can withdraw at once.
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Bitcoin Price Crash: How Low Can BTC Price Drop?
The cryptocurrency market appears to be uncertain with some cryptocurrencies experiencing price growth while others are continuously falling, due to the unclear pattern of Bitcoin price during the first week of March.
The price of bitcoin was unable to surpass the $22,200 resistance level. BTC experienced a sharp increase in selling activity, which caused a decline under the $21,500 support region. There was a drop toward the $20,000 support and the price is down more than 8%. At $19,800, a new monthly low was formed, and the price is presently consolidating its losses close to the $20,000 region.
What Next For Bitcoin Price?
A cryptocurrency expert and trader, Jason Pizzino, predict the short-term direction of Bitcoin, the largest crypto by market cap.
Pizzino is optimistic about Bitcoin’s long-term direction but warns that the cryptocurrency asset could potentially drop by about 15% from current levels to below $19,000 in the short term. He points to the daily chart and identifies support levels of $21,500, $20,000, and, in the worst-case scenario, perhaps around mid-$18,000. Pizzino suggests that there is a solid buying opportunity for under $22,000 and emphasizes that he remains bullish on Bitcoin’s long-term prospects.
Pizzino believes that prices below $22,000 for Bitcoin offer an opportunity for accumulation. He notes that at about $20,500, Bitcoin may only reach its halfway mark, and recommends that investors keep this in mind if they are looking to dollar-cost-average into Bitcoin over the long term. The analyst also warns that Bitcoin’s long-term positive thesis will be proven false if the price falls below $18,500.
Crypto Market Crash Might Get Worst In Coming Days – Here’s Why
The recent interest rate hikes by the Federal Reserve are having a negative impact on the cryptocurrency market, which could result in a potential shift in investor sentiment away from cryptocurrencies. According to recent news from Reuters and the Financial Times, the central bank plans to start a tougher rate hike path soon.
Many analysts predict that the impact of the interest rate hikes on cryptocurrencies like Bitcoin could be severe. The higher interest rates will make it more expensive to borrow money, which could lead to a decrease in investment and spending in the economy.
This, in turn, could lead to a decrease in demand for cryptocurrencies, leading to a further drop in their value. With reduced demand, cryptocurrency investors may start to shift their attention toward traditional assets, which may result in decreased liquidity in the crypto market.
Jerome Powell, the US Federal Reserve Chair, has faced criticism from some experts for the decision to increase interest rates. Some are concerned that the move could slow economic recovery, while others worry about its impact on the stock market and the housing sector.
Additionally, some critics argue that the move is premature, as inflation has not yet reached levels that require such action. Furthermore, the rise in interest rates could have a negative impact on emerging economies, as it could lead to an outflow of capital from these countries.
The Federal Reserve’s Interest Rate Hikes May Trigger a Significant Downturn in the Cryptocurrency Market
Nicholas Merten, the host of the YouTube channel DataDash and a well-known cryptocurrency analyst, has warned that the Federal Reserve’s recent decision to raise interest rates and reduce its bond-buying program could result in a significant downturn in the crypto market.
According to Merten, the Fed’s actions could lead to reduced liquidity, increased competition from traditional assets, negative sentiment towards cryptocurrencies, and uncertainty in the market. As a result, investors could be hesitant to invest in cryptocurrencies, leading to a drop in demand and prices.
Merten added that the Fed’s plan to raise interest rates again to combat inflation could do much more harm to the cryptocurrency business. He predicted that the Fed’s new liquidity traps, hinted at in recent testimony by Chairman Jerome Powell, will cause Bitcoin’s price to go below the $20,000 mark very soon.
Merten claims that the Fed has been intentionally fostering an atmosphere of unbridled optimism in order to funnel money from the actual economy into the more liquid financial markets. Such outcomes include a steep drop in cryptocurrency prices that could take a while to recover from.
Although Merten’s forecast has been met with skepticism from industry insiders, he nevertheless recommends that crypto investors be ready for a potential market catastrophe. He said that Bitcoin bulls should be pleased to pick up BTC between $13,000 and $14,000 if it goes that low, as the past weeks have shown how entwined crypto is with traditional markets.
Overall, investors need to keep a careful eye on the situation as it unfolds and take measures to reduce their exposure. Bitcoin is currently trading at $22,095, inside the $22,000 – $22,100 range it has been in for the past few days.
Bitcoin (BTC) Price To Crash More Ahead of Interest Rate Hikes
The well-known cryptocurrency trader Michael van de Poppe posted his most recent technical analysis for the Bitcoin market today in the wake of remarks made by the U.S. Federal Reserve Chairman Jerome Powell on Tuesday that sent the stock market and Bitcoin into a wild dive.
Powell stated in a hearing before the U.S. Senate Banking, Housing, and Urban Affairs Committee that recent inflation data indicates the Fed may eventually need to raise interest rates higher than anticipated.
According to Poppe, the stance was that we would have a relatively hawkish power in which we might receive a higher federal funds rate, meaning that Powell is increasing his interest rates on a monthly basis based on events and the data when it comes to CPI inflation, labor markets, and more.
“However all of a sudden the inflation data comes in higher and as a result, we can see that the markets are correcting right now and the Fed wants to continue doing its policy. The question is are they going to do and are the markets buying it and what’s actually taking place when it comes to the inflation data.”
The inflation data, according to him, has been a little bit twisted. He said one argument could be that China wakes up and comes out of the lockdown, meaning that there is some sort of higher prices coming out of that country and as a result, the inflation every day is a little bit higher at this point.
The other argument he cited is that the metric being used to determine the inflation data has been adjusted, meaning that there is a little higher number coming out right now.
Talking about the Bitcoin price action, he said that it is consolidating right now but it is still in a higher time frame support area.
“Looking at in terms of a technical standpoint here well we’ve got a clear resistance point at 22.6K and we had a clear support level around 22k.”
These Two Catalysts Can Crash the Crypto Market This Month!
The crypto market has recorded bearish sentiment in the past 24 hours, with Bitcoin and Ethereum prices down 5 percent. With the top two digital assets on a bearish trend, the entire altcoin industry is expected to record more selling pressure during the weekend.
According to the latest crypto price oracles, the total digital assets’ market capitalization stands at around $1.07 trillion on Friday, down approximately 4.5 percent in the past 24 hours.
The sudden cryptocurrency crash is partially fueled by the Silvergate Capital Corp. collapse, whereby the bank’s shares dropped over 57 percent on Thursday. According to on-chain analytics firm Santiment, Silvergate Capital withdrew 312M $USDC from Circle and transferred to exchanges during the past few hours. Notably, cryptocurrency exchange Coinbase Global announced that it would no longer accept or initiate payments to or from Silvergate.
As more cryptocurrency traders fear the repercussions of the Silvergate Capital collapse, the crypto market could continue dipping during the weekend.
Analysts Identify More Catalyst That Could Send Crypto Prices Lower
According to a recent YouTube post by altcoin daily titled “‘people are panicking’ Bitcoin Ethereum massive unlock,” there are far more pressing issues the crypto market should be concerned with. At the top list is the recent announcement by the United States Securities and Exchange Commission that crypto staking is unregistered security. Notably, the SEC charged cryptocurrency exchange Kraken with providing unregistered securities through its staking program.
The second big catalyst that could send crypto prices much lower is the Mt.Gox Bitcoin unlock and the Ethereum staking withdrawal that comes with the upcoming Shanghai upgrade. As Elon Musk has predicted, Bitcoin will make it, but the crypto winter will be long.
Crypto Crash Looming? SEC Might Label All Cryptocurrencies Except Bitcoin as Securities
The United States Securities and Exchange Commission (SEC) has intensified its altcoin crackdown, with Bitcoin narrowly escaping the regulator. The SEC Chair Gary Gensler has time and again argued that cryptocurrency projects that participated in initial coin offerings (ICOs), initial DEX offerings (IDOs), and initial exchange offerings (IEOs) are to be considered a security.
Additionally, Gensler has argued that cryptocurrency projects with people working on their prosperity with investors hoping for profit based on their efforts are simply operating as unregistered securities.
As a result, most altcoins, including Ethereum (ETH), with development foundations behind them, are facing regulatory upheaval in the coming months. Moreover, most crypto projects are interested in United States investors since the country controls approximately 25 percent of global economic activities.
Nonetheless, some projects have begun looking elsewhere to base their companies to navigate the crypto winter. The ongoing Ripple vs SEC lawsuit has seen Brad Garlinghouse state that the company could relocate to crypto-friendly nations should the court deem XRP unregistered securities.
Reactions to SEC and Gensler’s Take on Crypto Regulations
With the SEC already on crypto staking projects – following the Kraken exchange’s $30 million settlement – most PoS-secured blockchains like Solana, Ethereum, and Cardano, among others, are facing regulatory uncertainty. Nonetheless, Chief Policy Officer at Blockchain Associations Jake Chervinsky thinks the SEC and Gensler lack the authority to regulate all crypto.
Notably, Chervinsky argued that the SEC and Gensler should prove their case in court against each crypto asset instead of generalizing the entire altcoin market.
Meanwhile, Bitcoin maximalist Michael Saylor responded to it indicating that Bitcoin is the only digital asset worth using as global money.
Is History Repeating Itself with a Dot Com-Style Crash? Analyst Issues Warning!
The dot-com bubble, which affected tech stock prices in the late 1990s and early 2000s, was caused by media coverage of the burgeoning Internet business and investors’ expectations of dot-com profits. When interest rates soared, the dot-com crash was directly caused.
The Federal Reserve raised the fed funds rate, which affects most other interest rates, and this drove investors away from risky assets like internet startup stocks and into bonds. The second factor was the March 2000 Japanese recession, which caused a global selloff that drove more money out of risky markets and into bonds.
Now, popular crypto expert Benjamin Cowen is warning traders about Bitcoin’s first weekly death cross. When a short-term moving average falls below a long-term one, a death cross occurs. Cowen explains that BTC’s 50-week SMA is $24,678, and its 200-week SMA is $24,999. In a bear market, prices often do not drop below the 200-week simple moving average.
However, we have been mostly trading below that level since June. Cowen predicts a worst-case scenario for Bitcoin would be for it to behave like the Nasdaq in the midst of the dot-com meltdown in 2000-2002. He quoted a 77% pullback, a 60% recovery to the 50-week SMA, and a sluggish bleed towards the ultimate bottom follow.
A glimmer of hope comes from statistics showing whales within the Bitcoin community are using the opportunity to buy at current levels. However, people are concerned about whether the BTC death cross hypothesis would hold water in the event that the markets crash due to a big shock in terms of macro factors. Currently, one Bitcoin is worth $22,012, and the 24-hour trading volume is $16.6 billion. Bitcoin’s price has risen by 1.54% in the past day.
Bitcoin (BTC) Price To Crash to $10,000: Here’s When and How?
In response to actions taken by the sector by the US SEC, the cryptocurrency market once again turned from green to red. At the end of the weekend, the top two cryptocurrencies, Bitcoin and Ethereum, stopped their growth rally and even though BTC has recovered from a recent setback it is still under pressure to hold onto its recent level of $22,800.
Jason Pizzino, a trader and cryptocurrency expert, said that it is unlikely that the market leader Bitcoin (BTC) will return to its 2022 lows. While Bitcoin could continue to fall from its present levels, it is more likely to form a higher low than to go below the projected low of $15,500 in 2022. He claimed that he has given up on the $15,000 retest.
However, he also said that $10,000 is not entirely lost to bitcoin. When the market moves forward and it may begin to establish a higher low, even if this market may decline, it will come back and test $18,000, $19,000, or $20,000, which may be the higher bottom that we are all hoping for.
According to Pizzino, after the leading cryptocurrency asset breaks the peak high of just over $25,000 reached in August 2022, hopes of Bitcoin falling below $10,000 would progressively fade away.
“Going back to these points here – ‘Bitcoin will go to $10,000’ – we’re still hearing that. But that will possibly and probably eventually fade if over the next month or two we do get this higher low and the market breaks away.”
The leading digital asset’s decline below the $18,000 support level, according to the crypto analyst, will prove his bullish thesis for Bitcoin useless.
“Once these highs are broken [$25,000], the show’s over. There is going to be a lot of pain to investors who are still waiting for any sort of $10,000 or $12,000 or $14,000 Bitcoin, maybe even a retest of $15,000.”
Because the structure changes if Bitcoin falls below $18,000, he believes that these levels, around between $18,000 and $22,000, are good.
A ‘Crypto Crash’ Meeting Will be Held on Valentine’s Day! Here’s What Traders Can Expect
Although the market for cryptocurrencies started to rise at the beginning of 2023, the overall prognosis is still uncertain because of the ongoing economic downturn. Nevertheless, it is now safe to say that the cryptocurrency market had a declining trend in 2022.
For instance, the recent collapse of FTX, a Bahamian cryptocurrency exchange established by Sam Bankman-Fried, has created a significant deal of uncertainty in the cryptocurrency industry.
U.S. lawmakers are spinning two different stories about the aftermath of the FTX collapse. However, the Senate Banking Committee is all set to hold a hearing on February 14 to discuss safeguards for the financial system against the risks associated with digital assets. The hearing is called “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets.”
U.S. Sen. Tim Scott (R-S.C.), the chair of the Senate Banking Committee and the top Republican on the committee said in a statement on Thursday that he wanted to begin work on a bipartisan regulatory framework for cryptocurrencies on that day.
Sen. Scott said, “Recent years have seen expansive growth in the digital assets industry, including an increasing number of consumers interacting with cryptocurrencies. Several high-profile failures resulted in lost consumer assets, exposed regulatory gaps, and highlighted concerns with illicit finance.”
A Difference of Opinion
Congress had a meeting to discuss what Washington should do in the wake of the shocking collapse of the cryptocurrency exchange FTX. Senators urged for immediate legislative action to protect consumers, but there are still numerous differences of opinion over the specifics of such efforts. The debate over how precisely cryptocurrency should be regulated in the United States is expected to last for months.
The FOMC announcement on Wednesday brought bad news to the cryptocurrency industry, and the price of Bitcoin eventually fell below $24,000. However, on the flip side, the Fed’s shift to a dovish policy after remaining hawkish throughout 2022 has been a signal for the cryptocurrency market to rally, and the market has capitalized on this by increasing liquidations.
Bitcoin’s Fate Depends on the Federal Reserve’s Next Move – Will It Crash or Hit New All-Time Highs?
Experts speculate on the probable influence of the upcoming monetary policy adjustments by the Federal Reserve on the cryptocurrency market, particularly on the price of Bitcoin, as it nears $23,000 and the majority of the crypto market remains in green with the global crypto market moving over $1 trillion for the first time in what has been a while.
What Will Bitcoin’s Fate Be?
Given the dollar’s status as the world’s reserve currency, it comes as no surprise that the price of bitcoin is highly sensitive to fluctuations in the availability of US dollars across the world.
The market’s recent performance indicates that participants are expecting the Federal Reserve to change its stance on monetary policy. If the Federal Reserve follows through with a policy move, some analysts believe it might sustain the current advance in Bitcoin and spark a secular bull market.
One thing is certain as the world watches the future of monetary policy and its possible influence on the crypto market: Bitcoin and digital currencies are in a state of constant development, with substantial room for both volatility and growth.
Traders paved the way for the new Bitcoin gains amid worries of a severe drop, and Bitcoin prices kept rising to new multi-month highs. Bitcoin’s value has increased by nearly 9% in the last twenty-four hours and 11.5% in the last seven days, to a current price of $$22,848 as of this writing.
Analytics tool built directly upon the blockchain Meanwhile, yesterday’s removal of ask liquidity on Binance was spotted by Material Indicators, paving the way for Bitcoin’s debut surge beyond the $22,000 barrier.
Some familiar voices like Toni Ghinea are still warning traders to brace for the worst, while others are saying that this is only the beginning of a lengthy bull run, proving that Bitcoin is never beyond suspicion at its highs. Which one is it going to be? All we can do is wait and see.
March 2020-like Crypto Crash Coming in Q2 2023, Bitcoin (BTC) Price May Witness Highest Drop in History!
Bitcoin price after fluttering below $18,000 for a few months has jumped beyond the crucial resistance at $22,500. The prices are inflating heavily and appear to be at the initial stages of the bull run that may end up forming a new ATH in the near future. However, before being optimistic about the upcoming bull run, here are the possibilities of the rally being programmed and could be executed shortly.
An extract replication of 2019-2020 rally is underway where-in the first leg bouncer off from 200-day WMA initially and later the Q1 2024 crash may begin. A popular analyst, forecasts the Bitcoin price prediction for 2023 and says that the price may reach $25,000 in the next few weeks which will be followed by a massive pullback in February.
Referring to the above chart, the analyst says, there could be a continuation to $23,100 which could be followed by a pullback to $22,000. However, this plunge is believed to trigger a massive leg up towards $25,000 to accomplish the ‘2023 bull run’ and by the end of the first week of February, the bears may begin with their actions.
Bull Run Or Bull Trap? What Next For Bitcoin Price
In one of Coinpeida’s compositions, it was reported that whales have been aggressively accumulating Bitcoin. Therefore, it may not be considered a normal price jump if the volume does not appear to be real. Hence, a well-known analyst, il Capo of Crypto says that this could be the biggest bull trap ever which may foresee a major impact soon.
Collectively, the Bitcoin bull run presently appears to be a trap. No significant confirmation of bullish reversals was seen while the conditions for an intrinsic upswing have not been met. Therefore, one needs to keep a close watch on the BTC price movements as it may fade away in just the blink of an eye.
SOL Price Explodes: Solana’s Comeback From FTX Crash Lows, Is This the Start of a Massive Rally?
The Solana (SOL) cryptocurrency has seen its value more than double since reaching its lowest point following the FTX and Alameda incident. It has moved from trading below $9 in the last three weeks to as high as $24.75.
Market analysts are optimistic about the long-term potential of the Solana ecosystem, citing its vibrant global community and dedicated DeFi developers as reasons for this optimism.
As of today, the total value locked (TVL) in the Solana ecosystem stands at approximately $258 million, down from over $11 billion a year ago.
Despite the decline in TVL, the Solana ecosystem has seen an increase of approximately $50 million since the collapse of FTX and Alameda. Ethereum co-founder, Vitalik Buterin, believes that the Solana network has a promising future without the presence of bad actors. Riyad Carey, a research analyst at cryptocurrency data firm Kaiko, commented, “with Alameda gone, the protocol is in some sense free of that baggage and can become more community-centric.”
However, the Solana market is showing signs of bearish behavior following a strong two-week rally. One notable factor is the daily traded volume, which dropped by over 48% to $736,053,464 on Friday. Additionally, the Solana price in the 4-hour time frame is on the verge of breaking a three-week bullish trend line, which could potentially push the price to the next consolidation level of around $16.
The Solana ecosystem is supported by a dedicated team of DeFi developers and over 2,000 validators, which has led market analysts to remain optimistic about the network’s potential for growth. With the exit of FTX, the future of Solana looks promising as the network continues to gain traction.
As Messari Senior Research Analyst, Tom Dunleavy, notes “It is certainly an open question as to how sticky this new level of volume is; however, at the very least, a consistent level of volume with FTX exiting the ecosystem is a positive sign.”
Altcoin Market Dominance Reaches 50%: Another Crypto Crash Imminent?
The current spike in the trading of alternative cryptocurrencies has prompted the dominance of the altcoin market, which refers to the percentage of the cryptocurrency market made up of altcoins (cryptocurrencies other than Bitcoin), to reach 50%. The community as a whole is excited about this trend, but some experts are already predicting that it could lead to a collapse in the near future.
Beware: A Crash Is Coming!
According to JA Maartun, a crypto analyst and the community manager for CryptoQuant, the fact that the trading dominance of altcoins has reached 50 percent is quite worrying. See Maartun’s chart below:
Maartun presented the above chart to support his claim that, in the past, when altcoins’ share of trading volume rose above 50%, a significant drop in the price of BTC often led to a similar decline in value across other markets.
The chart shows that the November 2022 dump in value was preceded by a period of increasing altcoin dominance, with alternative cryptocurrencies making up 55% of the total trading volume.
This occurred at a time when market sentiment was already negative and many investors were hesitant to engage with risky assets, despite evidence of expected crypto investment in 2023.
Conclusion
The United States Consumer Price Index (CPI) data is set to be released on January 12, and some experts predict it will show an increase in inflation. If this is the case, the Federal Reserve may continue to raise interest rates, which has previously caused a decline in the market capitalization of cryptocurrencies.
If future interest rate increases are paired with the current negative market attitude, the potential for DCG bankruptcy, and reduced market liquidity, it could lead to another collapse in not only the altcoin market but the overall cryptocurrency market as well.
XRP Price Might Crash Hard in 2023: Analyst Maps Low Levels
The price of XRP has recently been rejected at important points as the asset continues to be impacted by numerous events, from legal to market sentiment.
cryptocurrency analyst Michal van de Poppe stated that XRP has encountered resistance at the $0.37 level and may return to the $0.343 level quickly based on its previous movement.
As per analysts, there is significant liquidity on the downside that could be taken advantage of if the price does not bounce back. He drew parallels between the current state of XRP emphasizing the importance of the $0.265 level as a significant support level for the token.
Ali Martinez, another cryptocurrency expert, agrees with van de Poppe’s assessment and believes that XRP’s price may halt its climb due to certain technical indicators.
The TD Sequential, a technical indicator used to identify the end of a trend and the potential for a price reversal, is reportedly showing a strong sell signal on the XRP price chart for the four-hour time frame.
The price of XRP has fallen below key levels like $0.3616 and reached a new monthly low only the week before last. It is likely to continue declining as there is no clear support in sight and the Relative Strength Index is not close to being in oversold territory.
At the time of writing, one XRP is worth $0.3439, representing a 1.17% increase over the past 24 hours but a 2.3% decrease over the past seven days.
Sellers may try to take advantage of any weakness in XRP to bring the price down to the key support level of $0.30. If they are unable to stop the decline and the price breaks below the $0.30 support level, it could lead to new, lower lows in 2023 and a pessimistic start for XRP.
Altcoin BloodBath on Horizon! Analyst Warns of Drastic Crypto Crash
The pseudonymous cryptocurrency expert, Capo of Crypto, who predicted the fall of Bitcoin (BTC) earlier this year is now delivering a warning to investors about an oncoming collapse of alternative cryptocurrencies.
According to him, the situation for alternative cryptocurrencies is far more dire than it seems to be for the financial markets.
He went on to say that even if altcoins were to drop by an average of 50-55% from this point, pure shitcoins could easily drop by 60-90%.
Recently, the analyst forecasted record bear market lows for both Bitcoin, the world’s largest cryptocurrency, and Ethereum (ETH), which is now the biggest altcoin by market value. According to Capo, the price of bitcoin might go as low as $12,000, while the price of the most popular smart contract platform could fall to the $600-$650 range.
In spite of the fact that Bitcoin bulls have been successful in igniting a recovery from the current bear market bottom of roughly $15,700, Capo argues that the latest bounce is noticeably weaker in comparison to BTC’s prior surges since June this year.
In his words:
“Every bounce is smaller. Lower lows and lower highs. Support is becoming resistance. $12k is like a magnet.”
He shared this chart alongside his analysis:
A move to Capo’s aim of $12,000 would signify a loss for the king cryptocurrency of more than 28%. Additionally, the analyst claims that market participants are most likely unprepared for the sharp decline.
He goes on to say that the present trading climate in crypto and the stock market looks to be setting an ideal backdrop for a real surrender, which he believes is imminent.
According to Capo, the stock markets are in the red, cryptocurrencies are breaching critical supports, indicators are heading downward, and bulls are becoming smug and ecstatic about little price pumps.
The state of the cryptocurrency market as a whole is not too great at the moment. However, it’s possible that we’ll witness a revival in 2023. And I intend to keep my fingers crossed that it does.
Ethereum Price Crash: If History Repeats ETH Price Might Drop To this Level!
The final day of the week is neutral for the cryptocurrency market as certain coins are in negative territory while the prices of others are climbing, so it appears that the holiday spirit did not spread to the market.
However, with the uncertainty of the cryptocurrency market, anything can cause a price change and the crypto wires are constantly being flooded with FTX updates and regulatory noise.
Talking about the second-largest cryptocurrency, Ethereum, the price fell in the middle of December, it instantly slid sideways and broke through some important support levels.
Ethereum may be heading toward an epic collapse. Expert and analyst Nicholas Merten issued a dire warning and said that ETH Price has serious issues that might cause it to lose up to 75% of its value from its current price of $1,220.
“Our target range for Ethereum is somewhere around $300 to $500. I don’t think it’s going to live there for long, but it has to do with the fact that right now, there is a big skeleton closet that is over $1.5 billion of cumulative liquidations that can potentially happen in the DeFi [decentralized finance] ecosystem for Ethereum.”
Merten used a graph to show the Ethereum DeFi protocol liquidation levels. The crypto strategist claims that if ETH drops to a specific level, these protocols will cause a big sell-off event. There might be a cascading impact on the sell-side of the Ethereum market if it starts to go towards approximately $750 to $550.
He talks about the pressure which may push the price of ETH from $750 and $550 to $300 very soon. Merten compares the scenario to Ethereum’s significant fall during the 2018 crypto bear market.
“If we repeat history, just simply repeat history not even considering the macro environment, that takes us down to $300.”
Ethereum Price Crash: If History Repeats ETH Price Might Drop To this Level!
The final day of the week is neutral for the cryptocurrency market as certain coins are in negative territory while the prices of others are climbing, so it appears that the holiday spirit did not spread to the market.
However, with the uncertainty of the cryptocurrency market, anything can cause a price change and the crypto wires are constantly being flooded with FTX updates and regulatory noise.
Talking about the second-largest cryptocurrency, Ethereum, the price fell in the middle of December, it instantly slid sideways and broke through some important support levels.
Ethereum may be heading toward an epic collapse. Expert and analyst Nicholas Merten issued a dire warning and said that ETH Price has serious issues that might cause it to lose up to 75% of its value from its current price of $1,220.
“Our target range for Ethereum is somewhere around $300 to $500. I don’t think it’s going to live there for long, but it has to do with the fact that right now, there is a big skeleton closet that is over $1.5 billion of cumulative liquidations that can potentially happen in the DeFi [decentralized finance] ecosystem for Ethereum.”
Merten used a graph to show the Ethereum DeFi protocol liquidation levels. The crypto strategist claims that if ETH drops to a specific level, these protocols will cause a big sell-off event. There might be a cascading impact on the sell-side of the Ethereum market if it starts to go towards approximately $750 to $550.
He talks about the pressure which may push the price of ETH from $750 and $550 to $300 very soon. Merten compares the scenario to Ethereum’s significant fall during the 2018 crypto bear market.
“If we repeat history, just simply repeat history not even considering the macro environment, that takes us down to $300.”
Crypto Price Analysis: DOGE, BNB, and DOT Price To Crash Soon?
Dogecoin, Binance Coin (BNB), and Polkadot (DOT) are some of the top cryptocurrencies in the market right now. But their prices have been on a rollercoaster ride lately, and there’s no telling when they might crash. This can be especially worrying for investors investing heavily in these cryptos.
Most of the time, when a digital currency takes a hit, it’s because of market conditions and investor sentiment. When there’s a bearish attitude towards the asset, people hesitate to invest in it, and its price may dip.
The case of Dogecoin has been hit by recent negative news about Elon Musk, who’s been a vocal supporter of the asset. This could be one reason for its recent dip. On the other hand, Polkadot and Binance Coin have been affected by Bitcoin’s price movements in recent weeks, as they tend to follow BTC’s lead.
Analyst Sentiments on DOGE, BNB, and DOT
Altcoin Sherpa is a famous cryptocurrency trader who regularly tweets about market trends and predictions. He’s been quite vocal recently about his bearish outlook on Dogecoin, Binance Coin, and Polkadot.
Altcoin predicts that the price of DOGE will return to the .057 area again. However, he also mentions that it could go even lower than that. Sherpa continues and talks about BNB and says that he does not see any positive catalysts for it to go higher in the near future.
Lastly, he mentions that Polkadot looks bearish, and soon it will grind down to sub $4 and doesn’t expect it to break out of its current downward trend anytime.
Looking at the 4-hour chart for DOGE, we can see that it is stuck in a descending channel, which means that it has been making lower highs and lower lows. The RSI indicator also indicates bearish momentum. The coin is trading today at a low price of $0.07417. The Bollinger bands are indicating some levels of volatility as the price is bouncing off them. Buyers need to be careful as there is a risk of the price falling further.
BNB is currently trading at a price of $248.62 within the last 24 hours. It has shown a downtrend of 0.03% and is trading within a descending channel. The RSI indicator also indicates bearish momentum, and the Bollinger bands indicate high levels of volatility. If buyers don’t come in soon, BNB could experience a further drop.
Polkadot is currently trading at a price of $4.60 within the last 24 hours. It has shown a downtrend of 0.49% and is trading within a descending channel. The RSI indicator also indicates bearish momentum, and the Bollinger bands indicate high levels of volatility. If buyers don’t come in soon, DOT could experience a further drop.
Conclusion
The prices of Dogecoin, Binance Coin, and Polkadot have been on a rollercoaster ride lately, and investors should be cautious before investing in any of these assets. Altcoin Sherpa has predicted a bearish outlook for all three, and investors should take note of his predictions. It’s also important to keep an eye on the market conditions and overall sentiment before investing in any crypto asset.
Crypto Market to Face Acute Miner Capitulation as the Bitcoin Set to Crash After December 25!
The crypto market has been range-bound recently, with no clear buying or selling pressure on Bitcoin’s price. Some indicators are also becoming bearish, which could potentially push the price lower.
However, it’s important to note that this period of consolidation doesn’t necessarily indicate a bullish reversal. In fact, some analysts are predicting a major crash in the crypto market between December 25, 2022, and January 10, 2023. It’s worth keeping an eye on developments and remaining cautious in the face of these bearish forecasts.
He believes that the major reason for the crash may be the current FUD which is circulating around Binance and is expected to intensify in the coming days. Moreover, the real crisis maybe when the price approaches February to end or by mid of march.
Besides, the stagnant trend of the BTC price has compelled the miners to work under extreme losses. The BTC hash rate is elevating constantly, forming new highs every new day. It’s been more than a month now, the price is trading below $20,000 and the real miner’s capitulation is expected to begin from now.
Collectively, Bitcoin’s (BTC) price has been trading within a decisive phase for quite a long time now and hence it is now required for the star crypto to break above the consolidation. In such a case, a jump beyond $20,000 is possible, or else a new low may be expected immediately with the beginning of the new year 2023.
XRP, DOGE, ADA, and MATIC Price Will Crash Heavily – Warns CNBC Host Jim Cramer
The market has seen digital assets being hammered by the Federal Reserve’s interest rate rises, and the collapse of FTX, the world’s former second-largest cryptocurrency exchange, valued at $32 billion at its height, has brought the crypto industry under severe scrutiny and triggered rising losses.
Jim Cramer, presenter of the American financial news program Mad Money on CNBC, is well noted for his negative views on the cryptocurrency market. Cramer publicly criticized SOL, DOGE, and XRP as scams just a week ago.
He went on to say that he thinks even more obscure coins like XRP, DOGE, ADA, and MATIC will crash to 0 or near zero prices in the near future.
Cramer has also pointed out that the market value of Tether, a so-called stablecoin that is meant to be kind of anchored to the dollar, is still at a $65 billion market valuation, and that there is still a whole industry of crypto boosters trying frantically to keep all of these things up in the air, not unlike to what occurred with terrible stocks after the dotcom crash.
Cramer is Taking a Jab at XRP again
Cramer just does not like cryptocurrencies in general, but the cryptocurrency Ripple (XRP) seems to be the one he dislikes the most, and he has once again taken a dig at the coin. Regarding XRP, DOGE, and LTC, he said that he has not yet found anybody who accepts them as payment.
The media celebrity expressed his most recent thoughts on cryptocurrencies when appearing on an episode of CNBC Squawk Box only the day before. In this most recent interview, he made it quite plain that he thinks these cryptocurrencies are destined to be eradicated from existence.
His words:
“I think you should be negative on crypto. I’m negative on XRP, LTC, and DOGE because I haven’t been able to find anybody who really takes them. It’s like $80 billion worth of non-Bitcoin that’s destined to be wiped out.”
Cramer said that he is not especially gloomy about assets such as crude oil because he thinks that there will be a rebound when he was asked to provide his perspective on the current generally bearish mood.
It’s interesting to note that Cramer put his money into the top two digital currencies in 2020 when Bitcoin was priced at $12,000 a coin. A year later, when the price of the king cryptocurrency reached an all-time high near the level of $69,000 and the price of Ethereum also soared, he utilized the profit he made from BTC and ETH to purchase a farm and a boat.
Demand Spike Causes Orbeon Protocol’s Site to Crash, Solana Outages Leaves Investors Disappointed
Orbeon Protocol (ORBN), a nascent blockchain platform on the rise, experienced a major outage following an unprecedented 655% surge in demand this week. But while Orbeon Protocol investors are causing website outrages, other investors are running from the outages occurring on the Solana (SOL) blockchain.
What is Orbeon Protocol (ORBN)?
As one of the first investors in a startup, you can reap the biggest rewards. However, the first seed rounds are usually only reserved for a select few. Orbeon Protocol (ORBN) solves this problem by democratizing access to early-stage investing for anyone with an internet connection.
Equity-based NFTs are what allow Orbeon Protocol to offer this opportunity to the masses, providing liquidity and verifiable ownership rights. With Orbeon Protocol (ORBN), investors can buy fractionalized assets at low prices and allow their portfolios to scale as the company grows.
This game-changing platform is great for startups too, since it allows them to raise capital without appeasing venture capitalists or having to wait for an IPO. They can simply issue equity-based NFTs to a global network of investors and get their capital in a matter of minutes.
Smart contracts protect startup funding by taking control of the money and distributing it as needed. In fact, there are no middlemen when it comes to investing in startups with Orbeon Protocol (ORBN). Solid Proof regularly audits the smart contracts to ensure everything is above board and secure.
Why Is There So Much Demand for the ORBN Token?
Orbeon Protocol’s native token ORBN is the fuel that powers the platform and is used to pay for the services offered. But that’s not all – holding ORBN also brings exclusive benefits like reduced trading fees, access to the hottest investment opportunities, staking rewards, and more.
With so much utility baked into the ORBN token, it’s no wonder why investors are rushing to buy it up. The demand for Orbeon Protocol is so great that it has caused a surge in the trading price and an increase in website traffic. Unfortunately, this led to an unexpected outage as the system was overwhelmed by the sheer number of transactions and requests.
Thankfully, the team was able to quickly identify and solve the issue, and phase 3 continues to progress smoothly with over 10 million ORBN tokens sold at a discounted price of $0.0302 per token. Analysts predict a 60x increase from Orbeons Protocol’s initial price to $0.24 by the end of year.
What About Solana (SOL) Outages?
Meanwhile, investors in the Solana (SOL) blockchain have been experiencing outages of their own. However, these outages are on the blockchain itself, not just the website. The outages have caused significant delays in transactions on the Solana (SOL) network, leaving investors disappointed and frustrated.
There are a number of reasons for Solana’s outages, but the main culprit appears to be consistent attacks on the network. These attacks are leading to the Solana (SOL) team halting network transactions to protect the network from further malicious activity.
However, this only causes further damage to the reputation of Solana (SOL), which is now under fire for being too centralized. Should a ‘decentralized’ blockchain as big as Solana be able to start and stop its own transactions? Investors are divided on the issue, but most would agree that this is a worrying sign for Solana.
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Was Sam Bankman-Fried To Blame For Terra’s Unfortunate Crash In May?
According to recent reports, federal prosecutors are investigating whether Sam Bankman-Fried, the founder of FTX, manipulated the market for two cryptocurrencies this past spring, causing their demise and setting off a chain reaction that ultimately led to the collapse of his own cryptocurrency exchange last month.
It is unclear at this time what the outcome of the investigation will be, and what impact it may have on the cryptocurrency industry as a whole. It is also unclear what Bankman-Fried’s stance is on the matter. Moreover, was there a link between FTX and Terra’s crash?
Was Bankman-Fried involved with the Terra/Luna Crash?
The likelihood that Bankman-Fried manipulated the prices of two interconnected currencies, TerraUSD and Luna, to benefit the firms he controlled, such as FTX and Alameda Research, a hedge fund he co-founded and owned, is being looked into by US authorities in Manhattan.
Since this investigation is only just beginning, it’s unclear whether or not authorities have found evidence of Bankman’s crime or when they began looking into the TerraUSD and Luna trades. The case is part of a larger inquiry into FTX’s collapse and the alleged loss of potentially billions of dollars in customer assets.
Previous reports have also indicated that Terra’s stablecoin unpegged from the dollar in May. The company that created it, Terraform Labs, flooded the market with LUNA tokens to keep the peg stable. That plan backfired, LUNA crashed, and UST dropped even further, triggering the year’s first widespread cryptocurrency panic, the effects of which we are still experiencing to this day.
According to some shocking insider sources, FTX was the source of a deluge of sell orders for US Treasury securities (USTs). Small quantities were ordered rapidly.
It should be emphasized that people who were pushing the initiative may have made significant profits from Luna’s price drops. However, the entire system broke down, wiping away up to a trillion dollars from the cryptocurrency markets and causing a subsequent meltdown.
Six months later, the aftermath of that crash effectively put an end to SBF’s crypto empire.
Wrapping up
The reasons behind the two cryptocurrencies’ fluctuations are unknown at this time and it could be harmful to try and assume anything.
All we can be hopeful of is that some big market players aren’t able to profit from the misfortune of others and are served justice soon enough.
Crypto Market Might See One Last Major Crash – Predicts Bloomberg Analyst
The Fed, the ongoing crypto winter, and the FTX collapse have all begun to erode investor confidence in the market. While everyone waits for a trend reversal, one analyst predicts what will happen to the cryptocurrency sector next.
According to Mike McGlone, who is a commodity strategist for Bloomberg, the reversal of the trend in the cryptocurrency market may take some time to happen. He said that the worst of the crypto winter is probably behind us.
In a recent interview with Stansberry Research, He said that we might be in the final stages of the ongoing bear market, and typically such bear markets according to him will ‘make you lose your hair and take money from everybody and they will be volatile and difficult.’
“Cryptos have already backed up 80%, and you just don’t want to get too bearish when a thing is down 80%,” he advised.
He said that this is not a crypto winter and added that it’s a ‘everything winter’ but except for one asset class. “This an everything winter, except for one asset class. Those are commodities. Commodities have to go down. If they don’t, the Fed is going to keep tightening until they do, and so that that’s to me the way I look at it.”
Ethereum to Start an Upward Trajectory?
Talking about the second-largest cryptocurrency, McGlone recalled the time when Ethereum was trading at $100 at the end of 2019. Ethereum will grow because of the strong foundation of the smart contract platform, according to him. He said that the currency is still 12X up and it is holding good support at $1000.
“I fully expect that to come out ahead and to continue that upward trajectory over time,” he added
“The key thing to remember… Bitcoin and Ethereum, the two stalwarts in the space have declining and definable diminishing supply, and increasing adoption and demand.I fully expect the adoption point to increase after bumps in the road, and prices have to go up over time,” he concluded.