Ripple Transfers $132 Million XRP Tokens Amid XRP Price Dip
Ripple Labs, led by CEO Brad Garlinghouse, has transferred totaling 132 million XRP in the past 24 hours. Notable crypto transaction monitor, Whale Alert, spotlighted these moves, igniting a frenzy of speculation within industry chat rooms. While the larger transfer, involving 100 million XRP, appears to circulate within Ripple’s wallets, a substantial sum of 32 million XRP found its way to the Bitstamp exchange.
The Tale of the 132 Million XRP Transfers
The crypto watchdog, Whale Alert, blew the whistle on two colossal XRP transactions that had community chat rooms humming with theories faster than you can say “blockchain.” Ripple Labs initiated a mammoth 100 million XRP transfer to an anonymous address, only for the XRP to make a U-turn back into another of Ripple’s own wallets. To add to the saga, 32 million XRP were sent directly to the Bitstamp exchange.
The community, predictably, has its eyebrows raised and asked questions. One comment struck a particularly resonant chord, asking, “Do I smell settlement?” only to receive a counter-reply, “No, you smell sell-off.” For those keeping track, XRP’s price slipped to $0.4732 after these moves, casting a slight pall over the crypto.
Institutional Play: A Gamble or Long-Term Strategy?
Meanwhile, CoinShares’ recent weekly report revealed a $0.7 million inflow into XRP-based products from institutional investors—echoing the inflow seen over the past month. Are the big guns looking past Ripple’s current courtroom battles, seeing a long-term golden goose? Or is this a risky gamble that could backfire?
Acquisition and Responsibility: The Fortress Trust Move
Adding another layer of complexity, Ripple announced its acquisition of blockchain startup Fortress Trust, even taking on the liability of a recent security incident impacting the latter’s customer base. While many in the industry applaud the acquisition as a sign of Ripple’s maturity, questions about its financing remain. Some community members ponder whether the firm leveraged its XRP holdings to underwrite the deal—a move that could signal a complex financial strategy or stoke further skepticism.
As Ripple and its flagship cryptocurrency, XRP, stand at a crossroads, one thing is clear: The decisions being made today will have a far-reaching impact on the crypto-landscape of tomorrow.
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.
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.
BTC Price: August Sees a 13% Dip in Bitcoin, Is the Worst Yet to Unfold?
After last week’s Bitcoin hemorrhage, it is safe to assume that the crypto bear-bull rally is behind the picture. Currently retesting a crucial support level around $25.8k, crypto experts believe the Bitcoin bears are catching a break before a continuation of the recent correction.
Moreover, rumors of top crypto investor Binance, likely to suffer insolvency have seen increased fear in the digital asset industry. Reportedly, Binance has been offloading its Bitcoin bag to prop the BNB price which had gained about 1.2 percent in the past 24 hours to trade at around $214 during the early Asian market on Wednesday.
Bitcoin Price Action
According to a Bitcoin analysis conducted by a respected crypto trader, Rekt Capital, the bears are much more likely to continue pushing downwards in the coming weeks till the end of September. The analyst pegged the Bitcoin forecast on historical performance, whereby August and September have proved to be bearish months for the top coin.
Already, Bitcoin price has dropped approximately 13 percent in August but not outshined the worst in prior years. For instance, Bitcoin prices dropped approximately 17 and 18 percent in 2014 and 2015 respectively. However, it is worth noting that Bitcoin price performed exemplary well in August during bull rally markets.
If history repeats itself, Rekt Capital analyst expects Bitcoin price to drop toward $24.5k in the coming weeks. However, the analyst highlighted that the September dip could be in the single digits.
Ripple XRP and Cronos Dip to New Lows, Everlodge A Route Back to Bullish Gains
If Ripple’s catalysts are temporary, the XRP price could dive lower. Cronos’ users see benefits slashed, and everlodge offers a once-in-a-lifetime investment by connecting the housing market with web3. Read on to find out more.
Everlodge presale
Where Will Ripple’s Price Go?
The SEC vs Ripple lawsuit began in late 2020 and concluded in July 2023, with a partial victory in Ripple’s favour. However, the judge’s ruling is now being questioned and could be overturned.
As of the last 24 hours, Ripple’s price heavily depends on the SEC’s decision to appeal the ruling in Ripple’s lawsuit or not. The famous court ruling released on July 14 states that whether Ripple is a security depends on the kind of transaction.
For institutional investors or over-the-counter sales, XRP is classified as a security. However, Ripple is not a security for retail investors who purchased Ripple tokens on exchanges or used on-demand liquidity services. If the SEC appeals Judge Torres’ decision, the XRP price will likely drop to the next major support level of $0.5.
What’s Next for Cronos?
Crypto.com’s native coin, Cronos, is down almost 16%, likely triggered by Crypto.com’s decision to slash the rewards given to Cronos’ users. The bonuses have been reduced to only 0%-2% based on how much Cronos they use.
Cronos holders with an active 6-month stake that started before May 2022 will see no changes until their 180-day period expires. Additionally, from June 1st, Cronos staking rewards will no longer be offered, but holders of Cronos will receive 100% compensation for their payments. A look at the charts reveals a decline in Cronos’ price of over 40% this year.
Everlodge Seeks to Conquer the Market with an Innovative Concept
Connecting the housing market with Web3 is a genius move, considering the success of Airbnb. Everlodge will capture the massive demand of the housing market with its unique co-ownership platform for vacation homes and bring it to Web3. Fractionalizing the assets will make investments of as little as $100 possible.
This unique investment opportunity that Everlodge offers includes options for passive income with staking and lending services, a marketplace and a launchpad.
The ongoing developments see the team finalizing the Windows, Android, and iOS user interfaces. Everlodge will be listed on Uniswap and a major CEX. The Everlodge token has a decent vesting schedule and a total supply of 800,000,000 tokens.
Established analysts forecast a potential 10,000% return for early investors. The Everlodge presale starts soon; all information can be found on the official Everlodge website. The probability of massive demand for the Everlodge token is very high.
Find out more about the Everlodge (ELDG) Presale
Website: https://www.everlodge.io/
Telegram: https://t.me/everlodge
Litecoin Post Halving Analysis: LTC Price Faces a +30% Dip If History Repeats
The Litecoin (LTC) network has achieved significant growth, evolving into a widely accepted digital asset worldwide. The recent halving event has significantly reduced Litecoin’s inflation, doubling the value of existing coins. Despite this positive development, analysts predict a challenging time for Litecoin holders but also foresee potential buying opportunities in the coming months.
Litecoin Halving Event Impact:
The Litecoin network’s third halving event successfully reduced miners’ rewards from 6.25 LTC to 3.125 LTC per block since reaching the block height of 2,520,000. This reduction in newly minted coins has historically contributed to an increase in Litecoin’s value, making it a significant event for investors.
Before the halving, Litecoin’s price consolidated around $90. However, in the past 24 hours, the price has experienced a 5 percent decline, trading at approximately $86.26 as of Thursday. Market analysts, such as Rekt Capital, have conducted technical analyses that suggest a bearish sentiment might prevail in the following months, rather than an immediate bullish breakout.
Rekt Capital’s analysis indicates that in previous halvings, Litecoin’s price has dropped between 73 percent and 83 percent from its pre-halving peak. Currently, Litecoin has retracted about 26 percent from its pre-halving high of $113, suggesting that there may be another 47 percent to 57 percent drop before the market stabilizes.
Factors Influencing Price Movement:
The analysts also highlight that the potential dip in Litecoin’s price may be less severe than historically observed. This is due to Litecoin’s macro price being confined within a consolidating wedge, coupled with diminishing returns, which may mitigate extreme price fluctuations.
Benjamin Cowen, a respected market analyst, shared a similar sentiment, suggesting that Litecoin may experience a new all-time high several months after the Bitcoin halving event scheduled for next year. This insight implies that Litecoin’s price could consolidate as it gathers bullish momentum over time.
Conclusion:
As Litecoin’s halving event ushers in a period of reduced inflation and increased value for existing coins, investors should be aware of potential price drops in the coming months. However, experts also indicate that these price corrections may present buying opportunities for those looking to enter the market or accumulate more Litecoin.
While the short-term outlook remains uncertain, Litecoin’s long-term prospects seem promising as it continues to mature as a vital player in the global digital asset ecosystem. As with any investment, it is crucial for investors to conduct their own research and exercise caution in the ever-changing cryptocurrency market.
Jihan Wu Buys Curve Dip, Cites Importance for Tokenization of Real Assets.
Matrixport and Bitdeer founder Jihan Wu has expressed strong support for the decentralized finance (DeFi) protocol Curve, stating that it is one of the most important infrastructures for the tokenization of real assets. Wu personally bought the dip, as CRV, the native token of the Curve protocol, fell by 14% in the last 24 hours. Wu’s comments highlight the growing interest and importance of DeFi in the crypto industry and the potential for tokenization of real assets to revolutionize finance.
Privacy Coins Monero and Zcash Price Experience Dip, What’s Next? Pomerdoge Picked as the Best Presale for 2023
Monero (XMR) and Zcash (ZEC) experienced a reduction in their value with the latest market dip. However, investors are still bullish on the performance of other projects. One project that gained a significant level of attention is Pomerdoge (POMD), and today, we will analyse the on-chart performance of each altcoin to see why this has been the case.
Summary
- The Monero crypto is down 2.7% during the past week.
- The Zcash crypto has fallen in value by 46.8% in the past year.
- Pomerdoge trades at just $0.007 and can surge by 100x at launch.
Click Here To Find Out More About The Pomerdoge (POMD) Presale
Monero (XMR) Price Prediction
Monero (XMR) has experienced a dip in its value and has fallen into the red zone regarding its weekly chart. While the cryptocurrency has retained its value above the $160 threshold, the bear market might bring it under this point if a bear market occurs.
Analysts are, however, still bullish that it can spike upwards and breach past $160, as evident from the on-chain analysis.
The Monero price was $163.54 on July 27, 2023. During the past week, Monero saw its low price point at $160.34, with its high point at $167.80.
Moreover, within the last 30 days, Monero decreased by 2.2%, and in the last seven days, it’s been down by 2.7%. According to a Monero price prediction, it can reach just $186.27 by the end of 2023.
Zcash (ZEC) Future Outlook After Recent Market Dip
While Zcash (ZEC) is a favourite among privacy-conscious investors, its latest on-chart data has left much to be desired. At one point during the week, the ZEC crypto dipped under the $30 threshold, prompting many investors to panic-sell it.
While since then, it has managed to recover some value, things are not looking too optimal for the short-term performance of this altcoin.
The Zcash price was $30.23 on July 27, 2023. During the past week, Zcash saw its low point at $29.52, with its high point at $32.32. Similarly, the Zcash price decreased by 46.8% in the past year and has been down by 5.4% during the past week.
Regardless, according to a Zcash price prediction, the cryptocurrency can reach $36.65 by the end of the year.
Why Analysts Believe Pomerdoge (POMD) Is The Best Presale For 2023
Pomerdoge (POMD) is an upcoming project that will launch in the rapidly-growing gaming sector that will introduce Play-to-Earn (P2E) elements that appeal to games globally. In fact, Pomerdoge will also feature a unique infrastructure and ecosystem through which anyone can feel comfortable engaging with the crypto space.
Gamers gain the ability to create, strengthen, and customize avatars whilst also being able to get into competitions and earn rewards. Through the Pomerdoges, gamers globally can compete within the Arena. Additionally, they can go on missions together and share strategies.
As a part of the Pomerdoge ecosystem, there’s also the Pomerplace, which is a marketplace through which anyone can trade, sell or buy valuable items. There’s even a unique collection of 7,777 NFTs exclusive to the holders of POMD.
During its current presale stage, a single POMD token costs just $0.007, and analysts believe it can climb by 100x at launch.
Find out more about the Pomerdoge (POMD) Presale Today
US Government Transfers Over 9,800 Silk Road Bitcoins! Should You Sell BTC Before A Dip?
In a surprising moment, the U.S. government has made a significant move in the cryptocurrency market. A whopping 9800 Bitcoins, previously seized from the infamous Silk Road marketplace, have been transferred. This unexpected action has left many investors and market analysts speculating about the potential impact on Bitcoin’s price and left holders on the edge of a bearish downturn.
$300 Million Bitcoin On The Way
Approximately 9,800 bitcoins associated with the Silk Road are reportedly being transferred, as indicated by two unverified transactions. This represents the most substantial movement of funds connected to the defunct darknet marketplace in recent months.
A series of transactions involving bitcoins linked to Silk Road were pending confirmation on Wednesday morning. In total, 9,825 BTC (equivalent to $302.2 million) were lined up for dispatch from addresses associated with the Department of Justice (DOJ).
These addresses are routing the bitcoins to unutilized addresses. Given that the DOJ has previously reorganized its Silk Road holdings, it’s premature to conclude that an immediate sale is intended.
Nevertheless, in March, authorities transferred 9,800 BTC directly to the U.S.-based platform Coinbase at a rate of $21,800 per token, yielding $215 million.
Officials stated at that time that they planned to sell an extra 41,500 BTC (valued at $1.27 billion), which had been confiscated from Silk Road hacker James Zhong, in four separate lots.
Should You Hold Bitcoin?
The movement of such a large amount of Bitcoin, especially when linked to a high-profile case like Silk Road, can have a significant impact on the market. The potential sale of these Bitcoins could increase the supply in the market, which, if not matched by demand, could lead to a decrease in Bitcoin’s price.
Back in November 2022, the U.S. authorities took possession of more than 50,000 bitcoins from an individual named James Zhong. Zhong had confessed to executing a wire fraud scheme that involved hacking the same quantity of bitcoins from the infamous Silk Road platform in 2012.
The court documents associated with Zhong’s case, as well as those linked to Ross Ulbricht, the founder of Silk Road, provided insights into related Bitcoin wallet addresses. This information facilitated blockchain analysis companies in tracing these specific addresses.
For Bitcoin holders, the decision to sell should not be taken lightly. While selling now might avoid a potential dip, it could also mean missing out on future gains if the market recovers or continues its upward trend. As the Government will sell Bitcoins in batches, this will likely have no impact or much selling pressure on the Bitcoin price.
However, a fun fact is that the U.S. government seems to be selling Bitcoin on Coinbase, the very platform the SEC labels as an ‘unregistered securities exchange.’
XRP Price is Preparing for a Bullish Reversal Above $0.5- Should You Buy the Dip?
In the past few weeks, XRP’s price has seen a whirlwind of highs and lows, with no discernible pattern due to the ongoing uncertainty about its status as a security. This has led to a cautious approach from investors. However, market experts have spotted potential signs of an upcoming bullish shift. The price appears to be steadying itself below the $0.5 support level, indicating a possible decrease in selling pressure and the potential for a bullish trend in the near future.
XRP Price May Surge Amid The Chaos
Bitcoin advocate and advisor to El Salvador’s president, Max Keiser, recently responded to a tweet by pro-XRP lawyer John Deaton, discussing Bitcoin, the SEC, and XRP. Keiser refrained from labeling XRP as a scam, instead stating, “XRP is too centralized.”
Deaton had criticized Bitcoin maximalists for supporting SEC actions against crypto companies, except Bitcoin, despite claiming to be Libertarians. Keiser retorted that Bitcoin is the only crypto beyond regulators’ reach, and XRP’s centralization makes it vulnerable to SEC scrutiny.
Ripple’s CEO, Brad Garlinghouse, recently announced the company’s receipt of in-principle approval for a Major Payment Institution license from the Monetary Authority of Singapore. This positions Ripple among a few select firms globally to achieve this. Additionally, Ripple is aiding the Central Bank of Montenegro in launching a Central Bank Digital Currency (CBDC), and Brazil’s Central Bank has plans for a CBDC rollout in 2024.
These developments, along with the announcement of a new digital coin, the Universal Monetary Unit (UMU), by the Digital Currency Monetary Authority, underscore Ripple’s growing influence in the digital currency landscape. Given these positive developments, a surge in XRP’s value could be on the horizon.
What’s Next For XRP?
Recently, XRP experienced a significant decline after reaching the 20-day EMA at $0.49. It subsequently fell below the 200-day EMA and continued to decline to reach a new lower level. However, the presence of a long tail on the candlestick suggests that there was aggressive buying activity at lower price levels. As of writing, XRP price trades at $0.4939, surging over 0.16% in the last 24 hours.
Currently, the 20-day EMA has stabilized, exhibiting a flattened trajectory, while the Relative Strength Index (RSI) hovers slightly below the midpoint. These indicators indicate a delicate balance between the supply and demand forces in the market.
If the bulls manage to maintain the price above the 20-day EMA, it could pave the way for a potential rally toward the resistance level at $0.52. However, it should be noted that this level may once again serve as a strong barrier.
On the other hand, a decline from the current position will force the XRP price to test the support at $0.47. However, bulls will likely accumulate more near this dip, suggesting a bullish rebound to $0.52.
InQubeta Inspires Investor Confidence as Polygon Volumes Dip
The crypto market has experienced stagnation in recent weeks as the hype at the start of 2023 has died down. The hype, largely driven by memecoins, was unsustainable, and the market has responded accordingly.
In addition, the recent crackdown by the SEC on crypto exchanges has also led to uncertainty among investors, with assets like Polygon and Cardano tagged as illegal securities by the regulatory body.
Polygon has experienced a significant dip in its trading volumes, and its native token MATIC is down double digits in recent weeks. In addition, the increased competition for the ideal layer-2 blockchain for Ethereum with Arbitrum has also resulted in reduced volumes for Polygon as investors look to maximize their capital.
One token that has emerged as an alternative option is InQubeta. The AI-focused project has attracted the attention of investors seeking the best coins to invest in for the long term.
InQubeta’s Unique Value Proposition:
InQubeta, an AI-focused crypto crowdfunding platform, stands out with its unique value proposition. It allows investors to participate in AI through a fractionalized NFTs structure. With this, investors can take part in fundraising for AI startups and become part of their community.
To ensure users have the best options, InQubeta has integrated a strict vetting system encompassing technical, financial, structural, and background checks. Therefore users can get relevant information before delegating their funds to an AI startup. This innovative approach combines the growing fields of AI and crypto crowdfunding, providing investors with exposure to the potential of these industries.
InQubeta’s focus on building investor confidence is evident through its commitment to transparency and security. The project has undergone thorough verification by top auditing firms, including Hacken and Block Audit. This validation reinforces the credibility of InQubeta and instils trust among investors, positioning it as a reliable crypto investment.
One of the key factors that set InQubeta apart is its deflationary token, QUBE. This unique token carries a 5% sell tax allocated to a rewards pool. QUBE holders can stake their assets and benefit from the reward pool, creating long-term investment and community participation incentives. The deflationary nature of QUBE helps maintain a healthy token ecosystem.
Don’t Miss Out On Presale Opportunity
InQubeta is currently in its presale stage, which presents an exciting opportunity for investors. The presale has already gained significant traction, raising over $500,000. This substantial amount underscores the market’s interest in InQubeta’s vision and potential. Investors can participate in the presale with a minimum investment of $50, and multiple payment options, including BTC, USDT, and BNB, are available.
InQubeta’s presale has been listed as one of the fastest-growing events, and experts have already hinted that QUBE could be 30 times worth its initial value before the end of 2023. This is due to the increased development and activities on InQubeta.
Looking Towards the Future
InQubeta’s commitment to revolutionizing the AI Crypto crowdfunding space positions it as a project with long-term potential. The ongoing presale stage presents an opportunity for investors to join InQubeta’s journey and potentially benefit from its growth in the AI Crypto crowdfunding space. As investors navigate the crypto market, considering InQubeta as one of the top crypto coins to buy today for long-term potential is a prudent choice.
Ethereum Dip Offers Bullish Opportunities, Here’s Where the ETH Price Can Reach in July 2023
The crypto space has been undergoing extreme volatility for the past few weeks, challenging bullish strength every now and then. While Bitcoin’s dominance is increasing, Ethereum and the rest of the altcoins are trying hard to keep up with the pace. Woefully, the majority of the altcoins continue to trade under the bearish influence, while Ethereum manages to display significant strength, aiming to reclaim positions above $2000 in the next few days.
The ETH price in the daily charts, appears to be extremely strong as it managed to bounce off of the crucial support at the 200-D MA, around $1642. However, the price is yet to climb above the 100-D EMA at $1783, and hence, these levels become crucial resistance and support levels that may decide the next action for the Ethereum price rally.
Ethereum Adoption Widens While Whales Accumulate
The recent price drop attracted many to the platform, due to which the active supply reached new highs. These are the unique addresses that have transacted at least once in the specified interval of time. They can also be considered the new addresses created in a day, which suggests the adoption rate of crypto.
The number of addresses that transacted at least once has begun to add up since the first week of April and has been making new highs since then. This indicates the growing adoption of the token in the past couple of months. Besides, whale accumulation has also been soaring since almost the same time.
The above chart illustrates the supply in the top 1% of addresses, which can also be considered whale addresses as they hold nearly 1% of the circulation. The supply has been rising regardless of ETH price movements since April and has managed to form new highs every day.
Therefore, it may also be speculated that new ETH whales may have entered the ring. This may have a bullish influence on the second-largest crypto in the long term which may propel the price towards higher targets.
Regulatory Crackdown Impact: Bitcoin and Ether Reserves Dip Below 50% on US Exchanges
Reserves of Bitcoin and Ether on cryptocurrency exchanges based in the United States have recently dropped below the 50% mark, coinciding with an ongoing regulatory crackdown in the country.
According to a research report from CryptoQuant shared with The Block, U.S.-based crypto exchanges have experienced a decline in their Bitcoin reserves, reaching the lowest level since January 2017. The report also highlighted that offshore or international exchanges have surpassed U.S.-based exchanges in terms of the amount of Bitcoin they hold on behalf of their customers.
Crypto reserves typically facilitate trading activities and serve as a measure of liquidity. A decrease in crypto reserves may indicate that users are withdrawing their assets from exchanges, potentially due to concerns about security or holding their funds in private wallets.
Crypto Crackdown in the US
The crypto sector continues to face increased regulatory scrutiny from U.S. authorities, including the SEC and CFTC.
Last week, the U.S. Securities and Exchange Commission (SEC) filed lawsuits against Binance and Coinbase, accusing them of violating securities regulations. Meanwhile, jurisdictions such as Hong Kong have recently implemented crypto-friendly policies, attracting more crypto companies and users to those regions.
According to CryptoQuant, the U.S. federal government and regulators have introduced measures that make it more challenging for crypto businesses based in the United States to operate. The SEC’s guidance on compliance with its regulations has been unclear, prompting some exchanges to halt operations in the U.S. In response, certain U.S.-based exchanges have announced plans to establish new platforms operating outside of the country.
It is worth mentioning that the SEC’s lawsuits represent the latest regulatory developments impacting the crypto industry. Over the past few years, governments globally have been intensifying their scrutiny of cryptocurrencies, and there is an increasing possibility of additional regulations that may potentially affect prices in a negative manner. However, despite the recent decline in prices, the overall long-term outlook for cryptocurrencies is still viewed positively.
Investors Tap into Yachtify (YCHT) Presale, As Zilliqa (ZIL) and Flare (FLR) Dip
Due to the widespread skepticism plaguing the Zilliqa (ZIL) and Flare (FLR markets, investors are considering other options. Yachtify is the newest on the block, and it aims to introduce a groundbreaking new platform to the crypto world.
The token presale launch has commenced, with some analysts predicting a possible 4,000x gain in profits for early adopters.
Yachtify (YCHT): First-Ever Yacht Investment
Yachtify’s goal is to establish a community of people who want to invest in and share the benefits of yacht ownership. Investors will receive a share of the rental income based on their percentage of ownership of the yacht.
Investors can buy fractional NFTs representing actual yachts using Yachtify’s native currency, YCHT. Insured and docked in safe ports all over the world, current yacht owners can sell off a quarter or more of their vessels without having to sell the whole thing.
Each NFT is fractionalized so that members of the community can invest as low as $100 if they so choose. Also, investors can make money or increase their net worth by leasing or selling private yachts to ultra-high-net-worth people and leasing companies.
Since SolidProof has audited the smart contract, the team token will be locked for three years, and Yactify has already passed identity verification procedures. As such, investors can feel safe making a financial commitment. To join this investment, you can purchase YCHT tokens during this presale period for just $0.10 per token.
The following are links to more information about the presale:
Join Presale: https://buy.yachtify.market
Website: https://yachtify.market
Telegram: https://t.me/yachtify
Twitter: https://twitter.com/yachtify_market
Zilliqa (ZIL) Announces the Launch of EVM, Zilliqa (ZIL) 2.0
Zilliqa (ZIL) has recently released its Ethereum Virtual Machine (EVM) compatibility on its mainnet. This significant change hastens the platform’s progress toward the release of Zilliqa (ZIL) 2.0 and provides numerous new opportunities for the platform’s developers, users, and community.
In a major announcement, Zilliqa (ZIL) stated that the v9.0.0 update would provide Ethereum Virtual Machine (EVM) compatibility to the mainnet. This significant update went live on Tuesday, April 25, at 08:00 UTC, and it opens up a world of possibilities for the Zilliqa (ZIL) ecosystem.
By adding EVM compatibility, Zilliqa (ZIL) will enable dApps developed in Solidity and other EVM-compatible languages to function normally on its network. So, by welcoming EVM dApps into its ecosystem, Zilliqa (ZIL) paves the way for enhanced functionality, usability and creativity.
Flare (FLR): Does the Reward Outweigh the Risks?
The price of Flare (FLR) has decreased during the past 24 hours, dropping 1.35 percent to $0.028485850. Despite a decrease in volume and an increase in the Flare (FLR) token’s market worth, the trend has just shifted.
In the past 24 hours, $28,840,769.61 worth of Flare (FLR) has changed hands, elevating the total market cap of Flare (FLR) to $418,430,954.55. Flare (FLR) has a low-risk rating due to the small price movement relative to the large volume.
Also, the Flare (FLR) coin’s low-risk score results from its price fluctuation in the last 24 hours relative to volume movements. Investors, if unsure about the viability of Flare (FLR), can instead seek safer and more profitable tokens like Yachtify, which comes with much more benefits. Many smart investors are moving from Zilliqa (ZIL) and Flare (FLR) to Yachtify, which offers investments in secure assets.
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XRP’s (XRP) Legal Troubles and Fantom’s (FTM) Dip Make Yachtify (YCHT) a Better Investment Option
XRP’s (XRP) legal battles might continue for a while, which isn’t good for investment. In addition, Fantom’s (FTM) recent downtrend means investors are on the lookout for more viable and secure investments. Yachtify’s presale is touted as a better investment than either Fantom (FTM) or XRP (XRP) because of its considerable room for growth in the crypto market.
Yachtify (YCHT): The Token With a Considerable Room for Growth
Yachtify is a presale token whose growth has been reported as exponential by analysts and crypto experts due to its unique investment protocol and community backing. Yachtify, besides the hype, is an innovative platform where investors can invest in the maritime industry by purchasing bits of yachts through fractionalized NFTs.
Each NFT represents a real-world yacht, albeit a fraction of it, in which investors can purchase a stake for as little as $100. Further, yacht owners can list at least 25% of their yachts for fractional sale. At the time of writing, the presale currently goes for $0.10, including a 30% bonus. Investment is also secure with the SolidProof audit, total liquidity lock, and the team’s token lock for 3 years.
Due to Yachtify’s fundamentals, it may well end up becoming a blue-chip token, therefore prompting huge participation in its presale.
Check out the project by following the links below:
Join Presale: https://buy.yachtify.market
Website: https://yachtify.market
Telegram: https://t.me/yachtify
Twitter: https://twitter.com/yachtify_market
Fantom (FTM): Twitter Domination or Recent Development Won’t Impact Price?
Fantom (FTM) recently partnered with iME, allowing the token to be traded via Twitter, an impressive move by the network.
While Fantom’s (FTM) integration with Twitter is intended to increase its price, it is currently in a downtrend. At the time of writing, Fantom (FTM) is trading at $0.3 after recording a 5.8% drop in price and a further 7.4% decrease in price in the past 7 days. The bearish trend continues on the 30-day chart, where Fantom (FTM) is experiencing a 17.3% dip in price.
With Fantom (FTM) under intense selling pressure, investors are not interested in the project to avoid being dumped on. Consequently, the Yachtify presale, which promises significant returns on investment in a short time, is touted as a better investment.
XRP (XRP): Legal Battle with the SEC Might Rage on for a While
XRP’s (XRP) legal woes with the U.S. SEC continue, although positive developments have been recorded in the case recently. According to John Deaton, a pro-XRP lawyer, the recent developments around XRP’s (XRP) case have weakened the SEC’s arguments. In addition, XRP (XRP), through its company, Ripple, has also accused the SEC of enforcing regulatory actions without providing clear rules for crypto companies.
The crypto landscape awaits the outcome of the case between XRP (XRP) and the SEC, although recent developments around the case might see XRP (XRP) triumph. Meanwhile, XRP (XRP) continues to trade at $0.43, but in a bearish decline of about 5% in the past 24 hours.
With the legal case between XRP (XRP) and the SEC likely to drag on, investors are searching for more secure projects. The Yachtify presale is a more likely alternative investment for investors because of its considerable growth potential.
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Leverage The Crypto Dip To Buy These Gems. Don’t Miss Out On Uwerx Presale
While the crypto market remains bearish, the recent crypto surge over the past few days has renewed hopes that the next bull run is almost in sight.
As we wait for this bull run, now is the perfect time to leverage the crypto dip and purchase profitable tokens at a lower price. Tokens like Kaspa (KAS) and Conflux (CFX) are gems you might not want to miss out on.
Also, you can take a step further to diversify your portfolio by entering the presale for a soon-to-be-launched token, Uwerx. The project’s unique and disruptive features will give investors and users every reason to buy into it, and this article will highlight them.
Uwerx (WERX): The Future Of The Freelancing Industry
Uwerx will be a freelancing platform aiming to revolutionize the gig economy by adopting blockchain technology. Freelancers will benefit greatly from this as it promotes decentralization, secure and transparent client transactions, and protection of intellectual property rights.
Uwerx aims to maintain partnerships between freelancers and clients and will achieve this by providing other unique features like built-in collaboration tools, built-in resolution tools, personalized matching, and transparent pricing. Uwerx will reward both parties for their engagements on the platform, and new members will be incentivized.
Uwerx will also differ from traditional freelancing platforms in terms of service fees. Uwerx intends to charge only a 1% service fee against the 20% charged by others like Fiverr and 5% through Upwork.
Uwerx’s ICO will enable global investors to become owners of this innovative project. To prevent the possibility of any rug pull and to assure investors of their funds’ safety, the Uwerx team will renounce smart contract ownership of the project when taxes hit zero. Also, Uwerx has undergone audit approvals by InterFi Network and SolidProof. Plus, Uwerx will start a 25-year liquidity locking immediately after the presale ends.
Uwerx will supply at a starting price of $0.0225. Since WERX is a utility token, we are convinced its value will quickly increase and will likely gain over a 2,000% increase between Q1-Q2 of 2024.
Kaspa (KAS) Is Improving Scalability In PoW Projects
Kaspa (KAS) is a decentralized, permissionless protocol that solves the industry’s scalability and speed problems. Kaspa (KAS) uses the Proof-of-Work (PoW) mechanism and integrates a protocol known as GHOSTDAG.
This protocol ensures that the PoW algorithm is not compromised on security. This is because securing transactions is different from verifying them. Hence to ensure secured verification, Kaspa (KAS) utilizes the GHOSTDAG to prune data that are three days old or more. This procedure protects Kaspa (KAS) from hackers since they cannot access data from the protocol.
Recently, Kaspa (KAS) has been gaining momentum. It has witnessed an over 5% increase in the past 24 hours and is trading at $0.022.
Conflux (CFX): Building Blockchains Without Barriers
Conflux (CFX) is a smart contract and public blockchain platform that aims to bridge the gap between Asian and Western economies. It is also enabling borderless connections for everyone.
It uses a Tree Graph consensus mechanism which facilitates high processing speed and low confirmation time. Its scalability and interoperability also make it a user-friendly protocol.
Conflux (CFX) has continued working towards its vision and goals since it launched in 2018. Recently, Conflux (CFX) partnered with China Telecom to launch a blockchain-enabled SIM card. It is trading at $0.27, and the value of its token has increased by over 80%.
Conflux (CFX) and Kaspa (KAS) are good tokens to buy during this crypto dip, but Uwerx is an even greater and better buy. With its utility-driven WERX token and tons of other features, Uwerx will revolutionize the gig economy.
The ongoing presale is a great way to access this gem by purchasing the WERX token at a low price. To learn more about Uwerx and the presale, follow the links below:
Presale: invest.uwerx.network
Telegram: https://t.me/uwerx_network
Twitter: https://twitter.com/uwerx_network
Website: https://www.uwerx.network
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Cardano Plummets Dramatically! ADA Price Nears A Crucial Dip Point
Cardano experienced a remarkable first quarter this year, with both the token and the blockchain demonstrating growth in various aspects. This sparked a sense of optimism among investors that had been absent during the previous bearish period. However, after enjoying robust growth in the past week, ADA price has now initiated an intense bearish rally, breaking below crucial price points. This move came after the crypto market experienced a massive selloff yesterday, impacting the Cardano community negatively.
Cardano Receives A Major Blow
The recent downturn in the cryptocurrency market has dealt a major blow to Cardano (ADA), leading to a staggering $1 billion loss in market capitalization. ADA’s price experienced a sharp decline of over 10%, erasing all of its recent gains at its peak.
Despite this, the Cardano-based algorithmic stablecoin, Djed ($DJED), recently celebrated a remarkable achievement as its total circulating tokens surpassed 4 million. Now boasting 4.2 million tokens in circulation, this milestone underscores the growing interest and adoption of Cardano-powered stablecoins even in the market’s turmoil.
Cardano’s performance in the Decentralized Finance (DeFi) sector appears to be on an upward trajectory. The total value locked (TVL) across its 19 protocols has experienced a remarkable 172% quarter-on-quarter increase, soaring from $50 million to $138 million.
Nevertheless, despite these positive advancements, Cardano has yet to secure a prominent position in the rapidly expanding DeFi landscape. Competitors like Arbitrum have already managed to assert dominance, leaving Cardano with more ground to cover in its quest to establish itself within the ever-growing DeFi space.
ADA Price May Decline More If Breaches $0.4
Cardano (ADA) is currently experiencing a pullback, which has reached the breakout level of the neckline in the inverse head and shoulders pattern. If the price rebounds from the neckline, it will indicate that the bulls have successfully transformed the level into support. This development will trigger a surge beyond $0.45. Consequently, the ADA price can begin its ascent toward the pattern target of $0.61. While the $0.51 level may pose some resistance, it is expected to be surpassed eventually.
However, investors need to watch the $0.4 mark closely, as a downward breakout will suggest bearish domination. ADA price may drop below the EMA-100 trend line and take support at $0.37 before sparking a bullish reversal.
As of writing, ADA price trades at $0.41, declining by nearly 2% from yesterday’s performance. The RSI line is attempting to reach its midline, and a drop below the level will open up short positions. However, the SMA-14 trend line has yet to display a bearish sign, hinting that bulls are still in the game with enough buying pressure to hold the ADA price above $0.4.
Shiba Inu and Dogecoin Prices Take a Dip! Is It the Best Time to Add SHIB and DOGE?
In recent days, investor interest in accumulating meme coins has waned due to limited volatility and diminished social prominence. However, it appears that leading meme coins like Dogecoin and Shiba Inu may be poised for a strong resurgence as they prepare to bounce back from a dip. Consequently, investors are now contemplating if this is the opportune moment to shift their focus to meme coins or if a more bearish trend may still lie ahead.
SHIB and DOGE Prices Show Bullish Hopes
While Bitcoin investors have been reveling in an impressive bull run over the past several weeks, the meme coin market, including Dogecoin and Shiba Inu, has experienced relatively stagnant trading sessions. Nevertheless, investors are showing increasing interest in meme coins due to substantial whale activity, suggesting the possibility of a bull run emerging in the coming week.
Dogecoin (DOGE) Price Analysis
According to a leading crypto tracking service called Whale Alert, a huge transfer of Dogecoin took place between two unknown wallets, which could indicate a buy order. Eight hours ago, when the price of the top meme token dipped by just under 2%, a huge transfer of 350 million DOGE was executed. The value of DOGE at the time of the transfer was worth $26.6 million.
As of writing, Dogecoin’s price is trading at $0.074, with a decline of over 1% in the last 24 hours. The price of DOGE is still facing selling pressure near the resistance level at $0.076, despite the sharp increase. A breakout and a rise to the $0.077 zone could happen if bulls continue their buying pressure despite the market’s turmoil.
Analyzing the daily price chart, DOGE’s price has faced multiple rejections near $0.078 and formed a consolidation pattern below the EMA-50 trend line, keeping bearish domination alive. After forming a dip near $0.074, the meme coin witnessed a huge spike in trading volume, hinting at an upcoming bullish momentum. If the DOGE price breaks above the 38.6% Fib level, traders can witness DOGE surge above $0.09.
Shiba Inu (SHIB) Price Analysis
Shiba Inu’s price stabilized after Shibarium encountered clone allegations. However, there is still a concern if the SHIB price fails to attract bulls’ attention. SHIB price may ignite fresh surges this week as the number of wallet addresses that went into the Shibarium beta protocol has touched a new high, exceeding the 100,000 mark.
Shiba Inu is currently trading at $0.0000106 and is facing a hurdle in surpassing the resistance of $0.000011. As the SHIB price trades below EMA-20, investors are feeling less confident in buying the dip. If SHIB manages to break above the EMA-100 trend line, it may initiate a smooth rally to $0.0000122.
ARK Invest Takes Advantage of Market Dip with Bold $17.7 Million Coinbase Purchase
ARK Invest, the investment management firm founded by the iconic Cathie Wood, has made a bold move in the crypto world, snatching up a substantial amount of Coinbase (COIN) shares amidst market turmoil. While the SEC has sent a Wells Notice to Coinbase, warning of potential enforcement action, ARK Invest saw an opportunity to capitalize on the dip, purchasing 268,928 shares for a whopping $17.7 million. Meanwhile, Cathie Wood’s fund sold 160,887 shares of COIN for $13.5 million just two days prior, when the stock was trading at around $83 per share.
SEC Enforcement Action Looming Over Coinbase:
The Wells Notice sent by the SEC to Coinbase indicates that the regulatory body has concluded its investigation and is gearing up for potential enforcement action against the exchange. Coinbase has until March 29th to respond and decide whether or not to contest the action. This development comes as the SEC announced its plans to sue Justin Sun, the Tron Foundation, the BitTorrent Foundation, and Rainberry for selling unregistered securities and manipulating the market via wash trading.
Coinbase Goes Political:
In a move that could further shake up the crypto world, Coinbase’s CEO, Brian Armstrong, revealed in a recent Twitter space that the company will be getting more politically involved. It plans to urge its US-based users to elect “pro-crypto candidates” and even provide content that allows people to contact their congressman, donate to pro-crypto candidates, attend town halls, and make their voices heard.
Cathie Wood gives thumbs up for crypto assets
Cathie Wood, a well-known investor, shared her thoughts on the banking industry crisis on Twitter. She pointed out that people are now hedging their fiat assets with crypto assets and shifting to higher-yielding money market funds.
Cathie believes that regional banks are now moving towards a solvency crisis that could negatively impact commercial and residential real estate. She also believes that crypto assets, unlike traditional financial assets, have no central points of failure and could provide insurance against policy mistakes that could affect our well-being.
ARK Invest Buys Square:
In addition to purchasing COIN shares, ARK Invest has also acquired 320,557 shares of Square (SQ), with 275,554 of these shares going to ARK Innovation ETF (ARKK). Square, founded by Jack Dorsey, has some exposure to crypto but saw its shares drop 14% after short-seller Hindenburg Research released a report criticizing the company for “wildly” overstating user counts.
Cathie Wood also made a daring move amidst Block Inc.’s stock price plummeting nearly 15% due to a short seller report. Wood purchased over 338,000 shares of the company, despite accusations made by Hindenburg Research of fraud and systematic exploitation of vulnerable demographics.
Block Inc. denies these allegations and plans to take legal action against Hindenburg. With Jack Dorsey’s company holding over $220 million worth of Bitcoins, this battle for the truth could have significant implications for the future of digital payments and innovation.
Despite the market turmoil, COIN is still up by a whopping 97% year-to-date. With ARK Invest buying low and selling high, it’s clear that the investment firm has a knack for taking advantage of market volatility. Will Coinbase’s political aspirations and SEC troubles further impact the market? Only time will tell.
Bitcoin Price Needs to Dip to this Level to Fuel a Bullish Potential! Analyst Ends Waiting Period for BTC Bulls
The cryptocurrency world has been buzzing with excitement as Bitcoin traders await a potential price surge after the BTC price reaches its monthly lows. Experts have been closely monitoring the market, and many believe that more dip in Bitcoin’s price could be the catalyst for a bullish run. As Bitcoin price consolidates in an uncertain region, it leaves investors with confusion if a bullish reversal is on the horizon.
Market Sentiments Are Bullish On Bitcoin’s Price
According to Chris Burniske, a former lead crypto analyst at ARK Invest, the current positioning of Bitcoin’s price on the chart is a matter of perspective. While some bearish investors may see a range moving towards a breakdown, Burniske catches a beach ball that cannot be kept down.
The analyst emphasized that macroeconomic indicators, specifically the dollar index (DXY) and rates, remain crucial in determining Bitcoin’s current state. If both indicators experience a decline, Bitcoin could potentially break through its $25,000 resistance level. Additionally, the analyst is closely monitoring Ethereum’s (ETH) price movement against BTC, as he believes it has the potential to surge significantly in the future.
Despite Bitcoin’s price being trapped in the low of $20,000 range, there is a glimmer of hope as a high time frame momentum tool- LMACD has recently signaled a bullish crossover. This signal has previously resulted in at least a 1,000% return on investment for Bitcoin.
Although selling pressure appears to have eased, Bitcoin’s price chart and several weeks of consolidation suggest a lack of buying activity. In the past, a trend reversal has been marked by momentum measures turning up on a higher timeframe.
Bitcoin To Rebound From $20K
For the third consecutive day, Bitcoin (BTC) has been consolidating above the $22,000 support level, with resistance at $22.5K proving to be a challenge. During this period, the candlestick pattern has transformed into a series of Doji candlesticks characterized by their small body and indicating market indecision.
BTC price is moving just above the EMA-50 trend line with less volatility as investors are waiting for macro events to occur in the next few days. As of writing, Bitcoin trades at $22.3K with a minor downtrend.
Analyzing the daily price chart, Bitcoin may soon make a breakout below its $22K level and head toward its major support level at $20K. A prominent crypto analyst, MMB Trader, predicts that Bitcoin price is set to rebound from the support region of $20K as investors will start opening long positions near this dip.
A surge above the EMA-20 at $23k will push the asset to $26K, from which the BTC price may fly to a new high of $32K.
Ethereum Price In Limbo: Can A Dip In The Dollar Help it Rally To New Heights?
The Ethereum price is stuck around the $1550 level without displaying any possibility of breaking above the consolidation in the near future. The reduced volatility could have indicated that the bulls are currently extremely passive, and not willing to take up any risks. In such cases, the ETH price could still undergo another rally in case the dollar and rates drift lower.
A popular analyst, Chris Burniske, the founder of venture firm Placeholder, tells his 255.2K followers that if this happens, Bitcoin could effectively secure the levels above $25,000 If the Ethereum price follows the star crypto, then it may also kick off a fine upswing.
The primitive token Bitcoin has been experiencing a bearish wave for the past few days with reduced volume. However, the price witnessed enhanced volatility in the past few days to catch a bid after forming an anchored-weighted average price (VWAP) on the daily chart. This pattern usually indicates that the bearish sentiments may cease with a breakout towards either the top end or the bottom.
Currently, the Ethereum price is trading at $1564.79 with a drop of 0.21% with a market capitalization of $191.48 billion. The circulating supply is around 122.37 million and the trading volume in the past 24 hours is around $4,78 billion at the moment.
Is Bitcoin’s Recent Price Dip A Red Flag Or A Buying Opportunity? BTC Investors May Find Relief Above This Level
After a series of sideways trading sessions, BTC price has finally made a thrilling move downward, bringing hope of a big price action ahead. Several analysts see this trend as a prime opportunity for Bitcoin investors to buy the dip and reap the rewards.
However, not everyone is optimistic about the recent price drop, as some noted that the severe bearish momentum below the immediate support level sent shockwaves to the market, and long-term holders’ are losing their bullish sentiments, which may pave the way to close their positions.
Is BTC Price Dip Building A Buying Opportunity?
The recent dip in the Bitcoin price chart has again worried investors as it wiped out more than 50% gain it made in January. After turning investment portfolios red, Bitcoin shows no sign of an upward reversal. While some investors are feeling uneasy, analysts relieve them as the price dip creates a profitable buying opportunity to accumulate more Bitcoins to maximize gain in the upcoming bull run.
On-chain analytic firm, Messari, revealed that Bitcoin price had been significantly influenced by the FTX’s collapse rather than macroeconomic events like inflation, job growth, and interest rate hike. The firm stated that the BTC price decreased by 25% following the demise of FTX.
However, despite a solid bearish divergence and several bankruptcy filings in the space, Bitcoin’s on-chain activity did not witness a slump. According to Glassnode, the number of Bitcoin addresses holding non-zero balances continues to rise exponentially.
It is reported that the metric rose above 43.8 million this week, signifying investors’ entry amid the market dip. Moreover, Bitcoin’s fear and index metric trades at 48, which indicates a neutral sentiment among traders even after the solid plunge.
Bitcoin Is Preparing For A Big Target Ahead
Bitcoin price had dropped over 5% in the last 24 hours as sellers placed short positions when BTC troubled to trade above its crucial price point of $23K. As BTC closed its price below the support of 31.8% Fib retracement at $22K, it witnessed intense bearish domination that plunged its price to $21.7K.
According to CoinMarketCap, the price of BTC moves near $21.8K. The drop below the EMA-20 trend line has strengthened bearish goals that witnessed massive liquidation of over $50 million. Analyzing the daily price chart, Bitcoin is repeating its December consolidation level, which was formed after the BTC price got rejected at 4H-MA50.
A bullish move in the BTC price chart is expected by the end of February as the Stochastic RSI makes a bullish cross inside its oversold support region, which previously marked a bullish rally in January. To confirm a bullish move, BTC needs to hold its price above EMA-20, and a breakout near $23K will again fuel a bullish excitement and set a target of $29K.
Analyst Predicts Bitcoin (BTC) Price to Hit This Level By May – Right Time To Buy The Dip?
At the time of publication, the price of bitcoin remained relatively stable at roughly $23,100. The number of positive predictions for the cryptocurrency that is considered to be the king of cryptocurrencies is growing.
Bitcoin to Hit $50k by May
Aaron Arnold, a crypto analyst and the founder of the YouTube channel dedicated to the cryptocurrency space known as Altcoin Daily, recently had a conversation with Bitcoin tech analyst Carl Runefelt, who said that Bitcoin now has a clear bullish divergence.
Runefelt has expressed his strong belief that it is feasible for BTC to reach 50,000 over the next four months, despite the fact that this could seem a little bit odd to some people.
The analyst says Bitcoin will hit $26,000 to $30,000 in February, $33,000 to $37,000 in March, $39,000 to $43,000 in April, and definitely $50,000 by the end of May. And while Runefelt seems quite sure of his prediction, it would seem that the comment section does not agree with him.
A significant number of people are emphasizing the fact that his forecasts are never accurate. For example, he anticipated that Bitcoin would be worth $300,000 in 2022, but instead, the token fell to $14,000.
Some even went so far as to compare him to Jim Cramer, claiming that whatever he forecasts for Bitcoin, the token will move in the opposite way. For instance, if he claims that Bitcoin will reach $50,000, then it is possible that BTC could fall to $20,000 in value.
If Bitcoin manages to break out of its current trading range and close over $23,250, it might trigger a new wave of buying. Under these conditions, it’s possible that the price would climb to about $23,650. The $24,000 mark may represent the next point of difficulty. Continuing the current upward trend would push Bitcoin’s price to the $25,000 area.
Will Ethereum Take a Dip Amid the Rising FUD? Here’s what Experts are Saying
On January 20, the price of Ethereum recovered above $1,600, wiping out its losses from the collapse of the FTX exchange. However, after reaching a recent high of $1,638, the price crashed to $1,527. The large profit-taking transaction ratio increased on January 20 according to experts at Santiment.
The FUD around ETH, according to analysts at Santiment, may in the medium term feed a bullish narrative for the asset. 21% of conversations on social media sites involved currency.
They saw a sharp increase in the ratio of transactions for profit-taking. The social dominance of the second-largest cryptocurrency by market capitalization also increased at the same time. Data from Whale Alert indicates that a whale today dumped 24,768 ETH worth $38 million into the cryptocurrency exchange Coinbase. Over the previous three days, whales moved ETH worth around $200 million to liquidity pools and crypto exchanges.
What’s Next for Ethereum?
Popular cryptocurrency analyst Michael van de Poppe predicted a further decline in the price of Ethereum to around $1,450. The critical support level of $1,550, according to him, may see some rebounding in the price of Ethereum, but the real bounce for another rally will only come from below that level.
He wrote on twitter, “Some slow grind upwards and then one more sweep in the coming days and the correction should be over and we’ll continue the party.”
Rekt Capital wrote, “$ETH is dipping in an effort to retest the black diagonal multi-month downtrend as support. The diagonal needs to hold firmly however as there is a danger of this Monthly Candle ending up as an upside FOMO wick beyond resistance.”
However, the price of ETH will continue to be under pressure until the U.S. Federal Reserve’s rate hike decision on February 1 and until the release of the fourth-quarter GDP statistics on Thursday. At the time of writing, Ethereum is trading at $1,548 and has lost more than five percent in the last 24 hours.
Analyst Urges Traders To “Buy The Dip” For THESE Assets
The cryptocurrency market has remained exceptionally bullish since January 2023, and especially in the past week. The flagship cryptocurrency, Bitcoin, has successfully reached $18,000 levels after reaching $16,000 levels. A similar pattern has been observed with Ethereum, XRP, Cardano, and other major altcoins.
Meanwhile, a well-known cryptocurrency analyst and trader, Altcoin Sherpa, has made bullish predictions for Bitcoin and Aptos.
Bitcoin (BTC) Analysis
The analyst makes an effort to inform 188,400 Twitter followers that Bitcoin is on the verge of hitting its next bullish target of $19,000. However, he also says that he is not sure if BTC will first see a dip before the bull run or not.
At the time of writing, Bitcoin is selling at $18,146 with a surge of 4% over the last 24hrs.
Aptos (APT) Price Analysis
Altcoin Sherpa talks about Aptos and claims that the altcoin will soon shoot by more than 31% if Bitcoin maintains its bullish move. The analyst believes that Aptos will hit $7 if the bull run continues.
Currently, Aptos is trading at $5.18 with a loss of 1.60% in the last 24hrs.
Furthermore, Altcoin Sherpa alerts his followers that though the crypto market is observing a recovery rally since the start of 2023, the bottom has not yet occurred. By this he means that the crypto market will probably see a bearish pull back before the next bull run. However, he urges traders and investors to turn this into an opportunity to buy the dip.
WOO Network (WOO) Price Analysis
Lastly, the strategist puts light on WOO Network (WOO) which is a liquidity network. He says that WOO is about to experience a downfall if Bitcoin makes a downward movement.
As per Sherpa, if Bitcoin falls, WOO Network will plunge between $0.15 and $0.14 area.
At the moment, WOO is changing hands at $0.16 with a fall of 1.73% over the last 24hrs
Bitcoin (BTC) Price Under Bearish Pressure, Could Dip To $10k Soon! Here’s Why
In November, the U.S. consumer price index (CPI) rose 0.1% from the previous month, slower than the 0.4% pace in October. This is a sign that the Federal Reserve’s efforts to bring down inflation are making progress.
The data also boosted cryptocurrency prices, as less-worrisome consumer-price increases may give the Fed more room to relax interest-rate hikes. Annual CPI growth was 7.1%, according to the Labor Department, below the 7.3% forecast by economists in a FactSet survey.
How Was The Crypto Market Impacted By The Report?
The largest cryptocurrency by market value, Bitcoin (BTC), has been relatively stable in December. However, it saw a 1.6% increase in the minutes after the news of the CPI data was released, reaching over $17,930. The Ethereum native cryptocurrency Ether (ETH) has also seen gains, with a 6.9% increase in the last 24 hours, reaching $1,335.
Sigel’s prediction
Despite the positive news about the CPI data, investing giant VanEck predicts that Bitcoin (BTC) could continue to face challenges as some miners may go bankrupt, overshadowing the overall favorable macroeconomic conditions.
VanEck’s head of digital assets analysis, Matthew Sigel, predicts that the “crypto winter” will reach its lowest point in the first quarter of 2023 when Bitcoin’s value drops to between $10,000 and $12,000. This prediction is based on factors such as the potential collapse of FTX and inflation stress.
How do miners affect BTC prices?
The Bitcoin miners have faced a challenging year, with rising costs and falling prices.
Miners’ income is tied to the price of Bitcoin because they receive it as a reward for solving complex mathematical problems to validate blockchain transactions. These rewards are often sold to fund their operations.
When the price of Bitcoin drops, as it has this year by 61%, weaker miners may sell their reserves, which can cause the price to drop further. This cycle of selling and falling prices, known as a “death spiral,” could lead to the collapse of some mining operations.
In order to survive, miners may be forced to sell their coins. Since July, miner wallet balances have plummeted by $444 million, to 1.818 million BTC. This trend may continue as most mining companies are currently unprofitable.
“Nearly all MVIS Global Digital Assets Mining Index components are burning cash and trading below book value. Due to increasing electricity costs and decreased Bitcoin values, we believe many miners to restructure or consolidate, “Sigel wrote.
2023: Will The Pump & Dump Continue?
From the all-time peak of $69k in November 2021, the BTC price would drop to a low of $12k in the following year. Bear markets in the past have bottomed out at around 85% of previous highs.
According to Sigel, the bitcoin price will reach $30,000 in 2023.
In Conclusion
While a CNBC survey indicated that only 8% of Americans have a favorable view of cryptocurrency, VanEck analysts believe that Bitcoin has potential in emerging markets. At a media event this week, VanEck highlighted the fact that 2.5 billion people live in countries with more than 7% inflation, while 15 currencies have declined by more than 20% year-to-date.
Matt Sigel, VanEck Global’s head of digital assets research, believes that 2023 could be a hopeful year for cryptocurrency, but the “crypto winter” will need to be overcome first.
The Presale For Flasko (FLSK) is Set To Boom As Solana (SOL) And Algorand (ALGO) Dip
With the year in which cryptocurrencies lost almost 90% of their value coming to an end, various crypto holders have started to branch out their investment portfolios. In the recent bear market, even prominent coins like Solana (SOL) and Algorand (ALGO) have fallen. But crypto experts say not to worry; a newcomer named Flasko may shine bright in the darkness.
Solana (SOL) Shows Red On The Charts
The Solana (SOL) blockchain has a high throughput, low price, and minimal ecological effects. Solana (SOL), the native currency, is used to pay transaction costs and staking to protect the network.
The Solana (SOL) network uses the proof-of-stake consensus method to enhance energy consumption. Even with this unique consensus method, Solana (SOL) fell drastically in the most recent bear market.
From its all-time high of $260.06, Solana (SOL) is currently down 87% and worth $31.27. This price leaves a lot to be desired.
Algorand (ALGO) Slides Down The Rankings
Algorand (ALGO) was developed to expedite operations and increase productivity in reaction to the lengthy transaction times of Bitcoin and other blockchains. As with Solana (SOL), Algorand (ALGO) uses the proof-of-stake consensus mechanism. Algorand (ALGO) has reduced trading fees and no mining, which is excellent for holders.
Unfortunately, like Solana (SOL), the bear market ravaged Algorand (ALGO). It is now worth $0.3226, and Algorand (ALGO) is currently ranked 30th on the crypto chart for market capitalization.
Investors and experts were shocked by the sudden decline in Algorand’s (ALGO) token value, and many are searching elsewhere for fresh, more reliable tokens to invest in. Time will tell what is in store for Algorand (ALGO).
Flasko (FLSK) Will Provide Massive Gains According To Analysts
As you may already know, the presale for Flasko has caused quite a hysteria in the crypto space. The Flasko team hopes to bring the trillion-dollar alternative-investment industry to crypto enthusiasts.
The newest method of purchasing premium and expensive wines, whiskeys, and champagnes is through Flasko. It will enable users to trade and invest in rare and increasing assets in small amounts by developing a unique alternative investing platform.
They will do this through the fractional purchase of NFTs backed by the actual bottles and casks of fine wine, vintage champagne, and whiskeys stored in various safe locations worldwide. Furthermore, for those that purchase an NFT entirely, the Flasko team will deliver the real-world asset right to their doorstep!
Early investors will earn many benefits from 75 exclusive NFTs to getting into various champagne, wine, and whiskey-tasting events, all partnered with Flasko. All these rewards may be enticing for you, and at an entry price of just $0.065, we believe these rewards are well worth it.
Crypto analysts also predict a 4,000% rise in the value of Flasko in the coming months. This prediction means we expect Flasko to be at least $4 by mid-2023.
Click the links below to participate in the presale and learn more about this unique initiative.
Website: https://flasko.io
Presale: https://presale.flasko.io
Telegram: https://t.me/flaskoio
Twitter: https://twitter.com/flasko_io
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Bitcoin Still In Buy Zone Amidst Market Correction – Should You Buy The Dip? Or Wait For More Drop?
The post Bitcoin Still In Buy Zone Amidst Market Correction – Should You Buy The Dip? Or Wait For More Drop? appeared first on Coinpedia Fintech News
The overall crypto market is under a bearish pull where the majority of the cryptocurrencies are trading below their crucial levels. Amidst such pump and dump a well-known crypto analyst and trader claims Bitcoin is still under the buy zone.
The analyst who is anonymously known as Dave the Wave was the one who had accurately predicted the Bitcoin crash in May 2021. Now, in his new strategy session informs his 126,600 followers over Twitter that the King currency is currently experiencing sideways trade within the buy zone.
Extended sideward range forming within the buy zone. Would like to see hled. pic.twitter.com/QlwEn3DYyo
— dave the wave
(@davthewave) September 18, 2022
Indicators Flash Bitcoin Bull Run
The strategist talks about Bitcoin’s moving average convergence divergence (MACD) and says the monthly MACD for the King currency appears to be bullish. The MACD indicator is based on the trend pointing towards the relation between two moving averages. This is the indicator through which the trader knows about reversal.
The monthly MACD did wonders for predicting the top [loss of mometum/ blue arrow].
Histogram is now as over-extended as previously… and on a similar time-range.
Bullish [for optimal buying as opposed to buying the top]. pic.twitter.com/fqvHQZdlFu
— dave the wave
The strategist further asserts that the logarithmic growth curve (LGC) model is the one that is still posing as the last Bitcoin model standing. The logarithmic growth curve or LGC is the one indicator that helps us know the future price action of the currency. The analyst also says that this is the model that had Bitcoin’s price action in 2018.
Last #Bitcoin model standing.
The LGC curves [since 2018] pic.twitter.com/Y9vfj1tBx1
— dave the wave
At the time of writing, Bitcoin is selling at $19,185 after a surge of 0.73% over the last 24hrs and the currency is under a loss of more than 4% in the last seven days.
Could the Latest Dip Trigger MetaCryp, Cosmos, and Stellar’s Price Explosion?
The crypto market lost more than $500 billion in less than 24 hours in August 2022. The year has been long, but this short market bull trend sent glimmers of hope to crypto enthusiasts. BTC dipped from $24k to $20k in less than a day, confusing many traders.
One good thing about dips is that they succeed in spikes and uptrends. For this reason, you hear phrases like “buy the dip”; because many experts believe and have confirmed over time that dollar-cost-average, while the market is down, is a great way to bet on a huge future for your holdings.
Could the latest dip trigger cryptocurrency to higher price levels? Here are some cryptocurrencies predicted to soar if the market becomes favorable afterward: MetaCryp (MTCR), Cosmos (ATOM), and Stellar (XLM).
Cosmos, the token of the internet of blockchains
Cosmos (known by its ticker as ATOM) is the native and governance coin of the Cosmos blockchain. Cosmos prides itself as the internet of blockchain that facilitates blockchain interoperability for decentralized applications and services.
Cosmos made this list because it has recently shown positive price levels following the long crypto year. Cosmos could hit a higher high if its market sentiment maintains stronger greed in the coming weeks.
According to multiple reports, Cosmos, alongside a few other cryptocurrencies, made it to the best crypto performers list in the third quarter of 2022. There could be more as the crypto market will enter a bull run soon.
Why Stellar could be a portfolio strengthener
Stellar (XLM) is one of the cryptos to feature in the top 50, yet its unit price is not up to half a dollar. This indicates that Stellar is a good coin because of the community’s huge interest in it and even its native blockchain, Stellar Lumens.
Stellar Lumens is one of the disruptors of traditional banking systems. This puts it in nearly the same list as Ripple, which is used for borderless transactions. Stellar’s low unit price could win hodlers a fortune if it gets to $1 per unit. Stellar will be here for long and profit long-term traders.
MetaCryp, aiming for higher price levels with a recent dip
MetaCryp Token, although a newcomer, could top higher price levels despite several market dips. A positive market trend could set MetaCryp Token even higher up the chart. Traders looking to leverage low prices to increase their earning margin may not afford to miss out on MetaCryp Token.
What is MetaCryp?
MetaCryp Token (MTCR) is the native and unique exchange token used in the MetaCryp ecosystem. The MetaCryp ecosystem features mainly NFTs and the Metaverse spiced by play-to-earn incentives.
MetaCryp Token is still in its infancy and could soar higher after the presale scheduled to run from August to December 2022. Early birds will earn instant cashback bonuses that could stack up to 300%.
Learn more about MetaCryp (MTCR) by visiting the links below:
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.