Bitcoin Price Live Today: A Massive Drop May Drag the Price Below $24,000 Soon
The crypto space has turned greener in recent times as the Bitcoin price soared high beyond $28,000 for the second time in a week. However, the bulls appear to have been drained after pulling the prices notably high, and hence an inverse action could be possible. The BTC price has been consolidating below the key resistance level. This could be an indication of the impending correction which may kick off during the weekend.
Meanwhile, the BTC price may still be saved from a brutal sell-off until it remains strong beyond certain levels.
Bitcoin price is trading at $27,519 at the moment after failing to sustain above $28,000. The price has failed to sustain above these levels multiple times as the bears may have held these levels tight. Therefore, if the price makes an attempt to test these levels again, a significant pullback may kick in.
The current pattern formed displays the possibility of undergoing a bearish breakdown as the RSI has also turned bearish. Previously when RSI turned bearish, the BTC price dropped from a high of $25,000 to as low as $20,000. Therefore, yet another drop may lead the price to drop below $24,000, to around $23,469.
Moreover, star crypto is displaying a similar behavior at times when it makes highs above $25,000. The price constantly tested levels above $25,000 and finally underwent a massive drop. A similar pattern is formed presently and hence a significant price plunge may kick in if Bitcoin’s (BTC) price fails to uphold the $26,800 support levels over the weekend.
Arbitrum Token Drops By 90% With Massive Volatility on the Launch Day! What’s Next for ARB Price?
Arbitrum token’s highly anticipated launch took place today, and it seems the trading frenzy has lived up to the hype. In a whirlwind day of highs, lows, and everything in between, the nascent token’s massive volatility left investors on the edge of their seats, anxiously watching the charts and speculating on the future of this promising new asset.
Arbitrum Transaction Activity Outpaces Ethereum
Arbitrum, a scaling solution built on Ethereum’s layer 2 technology, has experienced increased activity leading up to the ongoing airdrop of its native token, ARB, scheduled for today.
Arbiscan, a data source, reported that the number of daily transactions on Arbitrum reached a new all-time high of 1,312,052 on Wednesday, surpassing the previous record of 1,103,398 set on February 21. In contrast, the Ethereum mainnet processed approximately 1.08 million transactions.
According to data from @Henrystats’ Dune Analytics-based Arbitrum dashboard, the number of users on the leading scaling project has surpassed 3 million, with an increase of over 400,000 new users in just two weeks. This represents a growth rate of more than 50% since the announcement of the token airdrop a week ago.
From the very beginning, Arbitrum’s live trading saw extreme price fluctuations. Investors who were quick to buy found themselves elated and despondent within minutes as the token’s value skyrocketed, only to plummet and rebound quickly.
Throughout the day, the token’s price continued to oscillate wildly, leaving many investors both exhilarated and nervous. Trading volume surged, exchanges experienced technical difficulties, and social media platforms were abuzz with speculation and discussion.
What Is the Potential of ARB Token?
Arbitrum’s landing page crashed as soon as it launched its ARB token, likely due to the overwhelming user traffic. However, the website is also the primary means for eligible users to claim their airdropped ARB tokens, and the 429 error suggests that the site cannot handle the volume of requests.
Additionally, Arbiscan, which provides data on Arbitrum’s network, is also currently down and displaying an “unavailable” message.
According to CoinMarketCap, the ARB token started trading at $11.14. It is worth mentioning that following the airdrop, ARB prices on different exchanges showed significant variations, with prices surging as high as $14 on ByBit. ARB token is currently down by nearly 90% as traders liquidated their holdings at a high price, and the token is now trading at $1.14.
Like any new token, the ARB token will likely undergo volatility in the next few days. It is expected ARB token will decline more as the selling pressure is yet to reach the final level. Hence, it is advised to stay cautious amid the volatile trading session.
ARB Airdrop Hype: Arbitrum Transaction Count Experiences Massive growth, Adds 400K New Users in Just One Day
The Ethereum layer-2 solution, Arbitrum, has seen massive growth in the number of transactions and addresses, and network traffic has been exploding as a result. The network processed more than 1.3 million transactions on March 21 compared to 1 million transactions on March 20, according to data from Arbisca
The increase in daily transactions started at the end of January and accelerated after Arbitrum announced an airdrop to its customers. According to reports, 1.27 billion ARB tokens will be distributed to users during the airdrop. The 1.27 billion ARB tokens make up 12.75% of the total supply of the coin.
Since announcing the token airdrop a week ago, Arbitrum’s has grown by more than 50%. The largest scaling project has added over 400,000 new users in the last two weeks, bringing the total number of subscribers to over 3 million, according to Dune Analytics.
Because of its function in layer-2 chain governance and contribution to decentralization, Arbitrum’s ARB token airdrop has been eagerly anticipated by the cryptocurrency community. People have until September 23, 2023, to claim the Arbitrum ARB airdrop.
On March 23, 112.8 million ARB tokens will also be given as part of the airdrop to other DAOs inside the ecosystem. When it fully converts to a DAO, the network says this will “empower the subcommunities” and encourage them to take part in governance choices.
Altcoin prices have increased, and investors are bullish, as the Bitcoin price surge halts. Because of the prominence of the layer-2 scaling solution in the Ethereum ecosystem and the timing of the airdrop, an alt season might come as good news for Arbitrum’s ARB governance token.
Exploring 10 AI-based Crypto Projects with Potential for Massive Profits
The rise of artificial intelligence (AI) cryptocurrency projects has attracted massive investments from institutional and retail traders. According to market data from Coingecko, the artificial intelligence (AI) market cap, today stands around $2 billion, up 7.7 percent in the past 24 hours. With a 24-hour trading volume of about $596,947,169, the artificial intelligence (AI) tokens are expected to take center stage in the altcoin bull run.
The Rise Of AI
Moreover, the launch of OpenAI’s ChatGPT and Google AI has significantly accelerated the demand and attention to artificial intelligence technology. The use of AI technology in collaboration with the human brain is expected to increase work output in most tech-based organizations significantly. As a result, AI-powered digital assets have gained significant traction despite the multi-month bear market.
Top 10 AI Crypto Projects by ROI
According to aggregate market data from the CryptoRank platform, the CryptoGPT AI project has recorded the highest return on investment at current prices. Reportedly, CryptoGPT has a current return on investment since the token sale of about 17.78X. Worth noting, this project has an ATH ROI of about 29.37X.
The SungularityNET (AGIX) has attracted the most crypto traders’ attention, with its trading volume up 79 percent in the past 24 hours to approximately $314 million. Trading around $0.504 on Thursday, AGIX has a reported ATH ROI of approximately 18.59X. However, the token is currently up approximately 4.91X at today’s prices.
Notably, SingularityNET is an upcoming blockchain-powered platform that allows anybody to easily create, share, and monetize AI services through its globally-accessible AI marketplace.
The Fetchai (FET) protocol, an artificial intelligence (AI) lab building an open, permissionless, decentralized machine learning network with a crypto economy, has gained massive traction since its launch in 2017. According to Cryptorank, FET has a current ROI of 4.52X and an ATH ROI of 13.32X.
Altcoins Prepare For Massive Rally, Bitcoin Poses Similar Narrative as 2019
The Bitcoin market is in the middle of significant weekly volatility after last week’s breakout and remaining above the 200 WMA for the past few days. However, Bitcoin’s daily volatility has significantly reduced in the past four days after experiencing a strong resistance level of around $28k. Money flow has begun pouring into high-cap altcoins, with traders and analysts forecasting mid-cap altcoins could spike soon.
The social media sentiment on altcoins – like XRP, Cardano (ADA), and Dogecoin (DOGE) – is on the rise. Profit taking in the Bitcoin market is expected to increase forced liquidation on Ethereum among other altcoin holders.
Notably, crypto liquidation data from Coinglass shows that $26 million in Ether and $22 million in Bitcoin have been rekt from the top two crypto and digital assets in the past 24 hours. The XRP, Cardano (ADA), and Dogecoin (DOGE) markets have recorded liquidations of about $18M, $3M, and $2M, respectively, during the same period.
Notably, crypto liquidation is a significant aspect considered by most analysts when plotting the Bitcoin and crypto market. Moreover, Bitcoin and some crypto assets are a derivative of pure mathematics. Some offer inflationary limits amidst the ongoing banking crisis caused by the lack of faith in the traditional banking sector.
As more fiat believers fear the rising inflation caused by bank runs, Bitcoin enthusiasts continue to stash more in anticipation of near-future bull markets. According to popular Twitter user @CryptoKaleo, who has made a global reputation through crypto trading, Bitcoin price could be gearing up for similar moves in 2019, amidst the third Federal Funds Rate release of 2023.
“Plenty of similarities to the current range and where we were in the Spring of 2019 after BTC broke out above the HTF bear market downtrend. A bit of chop here is expected before the real send begins,” crypt analyst Kaleo noted.
Ethereum (ETH) Price All Set To Ignite The Altcoin Season : Massive Rally On Horizon
A number of causes, including the failure of crypto banks in the US like Silvergate and Signature, have recently contributed to a price decline in the cryptocurrency market. This changed, though, as this week saw a significant rally in both Bitcoin and Ethereum as they tried to maintain their bullish trend.
According to analytics firm Santiment, Ethereum (ETH), the second-largest cryptocurrency by market cap, has additional room for growth. They predicted that Ethereum’s price, which over the weekend touched a high last seen seven months ago, will rise above $2,000 in the near future.
Twitteratis give a thumbs up for Ethereum
Since August 18th, Ethereum’s price had not surpassed $1,840 and ETH sank to a two-month low earlier this month. Santiment claimed that Ethereum’s transaction costs dipped below $2 when ETH achieved a seven-month high instead of increasing above $8.
According to a Twitter poll Santiment conducted over the weekend, more individuals think Ethereum will rise above $2,000 first than think it will fall below $1,600 first. About 10% of those voted predicted that Ethereum will rise above $2,000 in the near future, while 5.2% said that it would fall below $1,600.
At the time of writing, Ethereum is trading at $1,797 and is up by more than one percent in the last 24 hours.
Brian Quinlivan, director of marketing at Santiment, claimed that the rise of Bitcoin and the collapse of the banking industry are related. Bitcoin is currently hovering above the $28k mark.
“So why did prices manage to soar? Well, there were a few different key events in the first half of March.The most obvious appeared to be the collapse of one of the larger US banks, Silicon Valley Bank (SVB). And it appears this has caused massive ripple effects among the banking sector, in general,” he said.
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.
Billionaire VC Predicts Massive 900% Price Surge For Bitcoin!
The crypto market began the week on a positive note as Bitcoin, the leading cryptocurrency, reached its new highs for 2023. On March 14, the flagship currency hit $26,000 before experiencing a downturn. As of now, Bitcoin is trading at $24,591 after losing 1.31% over the last 24 hours.
Binance’s $1 Billion Fund Conversion
The main reason for Bitcoin’s significant surge is Binance’s announcement of plans to convert its $1 billion fund into Bitcoin. However, this price action has received varied comments from industry experts. Veteran analyst Peter Brandt tweeted that he was not surprised after Bitcoin was rejected around the $26K level.
A Parabolic Rally for Bitcoin Price
On the other hand, fellow crypto analyst Tim Draper believes that Bitcoin is on the verge of massive gains. The billionaire venture capitalist predicts that BTC will experience a parabolic rally that will push its value towards more than a 900% gain in the next two years.
Draper had previously forecasted that Bitcoin would hit a target of $250,000 within the next six months back in December 2022, following FTX’s collapse.
Investing in Centralized Firms Will Lead to Disaster: Draper
Draper emphasizes the importance of learning from FTX’s collapse, stating that investors should be smart enough to avoid centralized firms as investments, unless it’s XRP or ETH. He believes that decentralized digital assets, such as Bitcoin, are the way to go. He also asserts that even if Bitcoin fails to hit his target by June 2023, the currency will still reach the said target by the end of 2024.
Overall, Bitcoin’s recent price movements have generated a range of opinions from industry experts, with some predicting massive gains ahead while others remain cautious.
Massive $190 Million Move! FTX and Alameda Seek Redemption For Shareholders
The FTX and Alameda debacle is in the fourth month after the entities filed for chapter 11 bankruptcy protection. FTX, under current CEO John J. Ray III, has tried to recover as many assets as possible to repay distressed creditors. Recently, FTX and Alameda sued asset manager Grayscale Investments in a bid to recover more value for the creditors.
Notably, the two entities argued that Grayscale was prohibiting shareholders of Grayscale’s Bitcoin and Ethereum Trusts from redeeming their shares and charging “exorbitant management fees,” which they said has been suppressing the value of the shares.
The FTX officials claim that the move could unlock $9 billion or more in value for shareholders and realise over a quarter billion dollars in asset value for the FTX debtors’ customers and creditors. Additionally, the two companies have also communicated with the politicians who received investors’ cash from SBF to return the funds.
Meanwhile, FTX Japan investors have already begun receiving their refunds after the subsidiary re-opened its services.
Transfers Totaling Over $140 Mn In Just 24 Hours
According to on-chain analytics firm Lookonchain, FTX and Alameda-related addresses have transferred over $140 million in the last 24 hours. Notably, Lookonchain noted that over $43 million USDT was transferred to Coinbase Global, Binance, and Kraken. The move could be in preparation for the incoming liquidation of assets.
Additionally, the analytics firm identified over $75 million in USDC, which FTX and Alameda transferred to a Coinbase custody wallet.
Missing Crypto Wallets Entangled On Blockchain
The two entities are still billions short on their balance sheet, whereby the current CEO indicated in a congressional hearing that some crypto wallets are missing and entangled on the blockchain. As a result, he noted that more time is required to sort things out before creditors can begin receiving funds.
Massive Price Surges Predicted For Ripple (XRP), TRON (TRX) and Orbeon Protocol (ORBN), Here’s Why
Ripple (XRP) and TRON (TRX) are two affordable cryptocurrencies that have the potential to surge in value in 2023. Despite not being as popular as headline tokens like Bitcoin (BTC), Ripple (XRP) and TRON (TRX) are well-established and affordable to all investors. Orbeon Protocol (ORBN) is another great option that’s expected to surge in 2023. Having already increased in price by 1988%, analysts are now predicting returns of 6000% for bullish investors.
Ripple (XRP) Allows For Seamless International Transfers
Ripple (XRP) is an innovative DeFi project that looks to revolutionize international transfers. Current international transfers use a SWIFT system which has high fees, complex exchange rate costs and slow transaction times.
Using Ripple (XRP), individuals can transfer money internationally with low fees, no need for exchange rates, and fast transaction times.
From the start of January, Ripple (XRP) has increased from $0.3464 to highs of $0.426 in January. Ripple (XRP) has since declined to $0.3674, which is still a positive return for investors who bought Ripple (XRP) at the start of the year. Although Ripple (XRP) is decreasing slightly in price, investors are confident that its value will bounce back in 2023.
TRON (TRX) Combines The Best Of DeFi Into One Project
TRON (TRX) is designed to be the number one DeFi service. Instead of offering innovative technology to the market, TRON (TRX) uses what currently works and combines the best features.
TRON (TRX) is a popular investment in the Asia crypto market and is ranked the 14th largest crypto project in the world in terms of market cap. In 2018, TRON (TRX) expanded its portfolio, buying BitTorrent, a market leader in decentralized computing architecture.
While most cryptocurrencies decreased in value in February, TRON (TRX) increased by 2.49% to $0.06717. At the same time, its market cap also increased by over $1 billion. Having defied market trends two months in a row, analysts predict that TRON (TRX) could experience huge price surges in 2023, making TRON (TRX) one of the market’s most highly anticipated tokens.
Orbeon Protocol (ORBN) On Track To Hit $0.24
Orbeon Protocol (ORBN) is a new DeFi project currently in stage nine of its presale. This exciting new prospect has already increased from $0.004 to $0.0835 in just four months and Orbeon Protocol (ORBN) is expected to hit new highs over the next few weeks.
Orbeon Protocol (ORBN) applies DeFi technology to the crowdfunding market, introducing a multi-chain startup launchpad. Using the Orbeon launchpad, startups can create and sell equity-backed NFTs to everyday crypto investors. Orbeon Protocol (ORBN) investors store their NFTs in decentralized Orbeon wallets, where they can earn rewards for holding, as well as profit, from early growth stages.
To manage investor risk, Orbeon Protocol (ORBN) has implemented security features such as “Fill or Kill,” which requires startups to hit certain funding targets before investor funds are released.
With stage nine of the Orbeon Protocol (ORBN) presale almost completely sold out, investors are anticipating several price increases throughout March, with Orbeon Protocol (ORBN) quickly becoming one of the most highly anticipated presales in the market.
Find Out More About The Orbeon Protocol Presale
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Massive Ethereum Price Rally On The Horizon
The cryptocurrencies are flashing green, while the uncertainty and volatility hovers around the crypto space as a result of collapsed Silvergate Capital. The major recovery comes from the star cryptocurrency, Bitcoin followed by Ethereum and other altcoins.
As Bitcoin gained its lost $24K area, soon the leading smart contract followed the lead which has now surged nearly 7% over the past day. Ethereum price started its massive bull movement after it reached the $1,550 resistance area. The currency had hit a high of $1,700 before consolidating slightly.
At the time of publishing, Ethereum is priced at $1,690 after an upward swing of 6.82% over the last 24hrs.
Meanwhile, as the overall crypto market has turned bullish most of the market experts have claimed a bullish stance. One such crypto analyst and trader is Real Vision CEO Raoul Pal who has set a positive target for Ethereum price in the days to come.
Ethereum Price To Soon Claim Its Crucial Area
In his new video updates, Raoul Pal is seen claiming that Ethereum price might soon gain a major bull rally. The analyst is also seen displaying a chart where he asserts that it appears that after a month long of correction, Ethereum is finally setting for some bullish momentum.
Further, the strategist gives out the price target and says that Ethereum price could hit anywhere between $2,000 and $3,000 or even higher. Also Raoul Pal believes that Ethereum may soon enter a V-shaped recovery stage.
On the other hand, the community is awaiting to witness its much awaited Shanghai upgrade which is set to happen in April. This will be the first upgrade after Ethereum 2.0. If the Ethereum bulls hold on to its pace then ETH could soon hit the said target of $2,000.
Top Altcoins Set for a Massive Breakout This Week, Experts Reveal Potential Levels
In the past week, crypto investors experienced trauma as several macro events caused a significant loss of funds from the global market cap. The crypto market was hit hard by the collapse of the SVB, which led to the depegging of the USDC stablecoin, reminding investors of the risks involved. However, the recent announcement of a $25 billion bailout by the Fed and Circle’s assurance of 100% USDC reserve recovery has resulted in the USDC stablecoin returning to its dollar peg. This, in turn, has sparked a massive spike in accumulation in the altcoin market, which may propel top assets above their breakout levels this week.
Will The Altcoin Market Rebound This Week?
On Monday, leading altcoins gained the spotlight following the announcement by US authorities to contain the consequences of Silicon Valley Bank’s (SVB) downfall. Additionally, the issuer of the USD Coin stablecoin reassured that it still can be exchanged for the dollar.
As the effect from the collapse of SVB will be short-term, investors are again making bets in the altcoin market for the long-term, and the following assets may soon fulfill the bullish goals.
Polygon (MATIC) Price Analysis
After forming a long bearish pattern in the price chart, MATIC has finally taken support near $0.94, from which the token is rebounding above its 23.6% Fib level. However, the EMA-50 trend line resistance has become a barrier as MATIC struggles to trade above $1.16. The addition of Covo finance and the upcoming launch of the much-anticipated zkEVM mainnet on the Polygon network may send MATIC’s price to new highs this week.
As of writing, the MATIC token trades at $1.19, with a gain of nearly 10% in the last 24 hours. A prominent crypto analyst, Weslad, predicts that MATIC’s price may soon break its crucial resistance of $1.5 and head toward the vital resistance of $3.4. However, after a minor downward retracement, MATIC may initiate its final wave to $13.
Lido DAO (LDO) Price Analysis
Lido token has broken multiple resistance levels today as it witnessed a massive spike in trading volume near the support level of $1.9. As of writing, the LDO token trades at $2.77, with an uptick of over 30%.
Analyzing the daily price chart, the LDO token is preparing to surge above the immediate resistance of $3.2, above which the token may reach a new high at $4. However, a failure to hold its current uptrend will result in a severe downtrend to $2.
The Graph (GRT) Price Analysis
The Graph token has been trading near a crucial breakout region after surging above EMA-50. As of writing, the GRT token trades at $0.14 with a gain of nearly 25%.
Looking at the 8-hour price chart, the GRT token may break $0.15 and spark a massive pump to $0.17. Moreover, the crossover of the RSI line and SMA-14 suggests a potential breakout for the GRT token this week.
XRP Price Analysis: Will the Crypto Space Follow the XRP Price’s Massive Bullish Signals?
The Ripple vs. SEC lawsuit is the most followed topic within the crypto space, as it smelt the possibility of a victory over the agencies. After multiple hearings and arguments, the judge could produce the final ruling at any time now. At this time, the XRP price is accumulating some strength as it may trigger a huge bullish wave in the coming days.
The XRP price continues to hover above $0.39, a spike of more than 12% in the past few days. Although the BTC price faced a major drop, the price of XRP maintained huge strength and hence may surge beyond $0.4 in the next few hours.
Moreover, the rally does not appear to be a short-lived one, as the chart patterns and the technicals are extremely bullish.
- The XRP price is trading within the same decisive symmetrical triangle that it began during the Q4 2022
- After rebounding from the lower support, the price reached the upper resistance and could slice through these levels shortly
- Moreover, the RSI levels are rising high without displaying any bearish divergence and hence a breach through these levels could be quite possible
- Additionally, the buying pressure has mounted and hence the upswing is believed to prevail until the price marks new yearly highs above $0.42
Ripple at the Foothill of Massive Explosion-Will XRP Price Make It Above $0.4?
The XRP price has displayed significant strength in the recent past as it continues to hover above the lower support levels. The price rally is approaching the end of the decisive pattern that may end up in a bullish breakout very soon. The major factor is, however, the Ripple vs SEC lawsuit that appears to be settling out in the next few days.
The XRP price is slowly rising to reach the upper resistance of the symmetrical triangle. The RSI has rebounded nicely after undergoing a descending trend since the beginning of the year. The price has been bullish despite the bearish RSI movements and may rebound nicely after witnessing a bullish divergence. Therefore, the XRP price may certainly rise beyond $0.4 in the coming days as the buying volume mounts up.
The price volatility has diminished heavily, so the trend is expected to remain within the symmetrical triangle for some time ahead. The price may rise high to reach the resistance and quickly face a rejection that may drag the price toward the lower support around $0.355. In case, the price fails to hold these support levels, then a fine drop toward the last levels above $0.3 may be breached, hence igniting a bearish trend.
Nevertheless, the XRP price continues to display enough bullish momentum and hence may flutter within a narrow range before undergoing a bullish breakout.
Expert Outlines Reasons Why He Thinks SEC Gary Gensler’s Facing Massive Losses Soon
In a bold move by the world’s largest asset manager, BlackRock has announced the launch of a private trust that will give clients exposure to spot Bitcoin. The move is seen as competition to Grayscale Bitcoin Trust (GBTC), as BlackRock seeks to fill its own trust with spot Bitcoin. Despite regulatory fears and macroeconomic conditions, the largest asset manager on earth is not afraid to take the plunge into Bitcoin.
Growing Interest in Bitcoin
According to Larry Fink, BlackRock’s CEO, there has been a growing interest in Bitcoin from various institutions. BlackRock has been involved with Bitcoin miners and even Silvergate, showing that the company is preparing for something big. While retail investors are fearful and panicking, big boys like BlackRock are accumulating and preparing for the future.
Despite the growing interest in Bitcoin, regulatory concerns have also been raised. Gary Gensler, the new Chairman of the SEC, is trying to impose strict regulations on the industry. However, crypto expert George Tung believes that there are lawsuits that could end Gensler’s rule. The first is the attempt to stop Voyager from being bought out by Binance. The judge has already ruled in favor of the acquisition, causing disruption to Gensler’s plans.
The second lawsuit is Ripple’s case against the SEC. There is a growing sentiment that Ripple is about to win the case. The judge threw out the SEC’s expert witness, leaving the organization without any proof that Ripple was making a profit from selling XRP. This could change the industry and put Gensler in his place.
The third lawsuit is Grayscale’s case against the SEC. The company is arguing that there is no good reason why the SEC stopped a spot Bitcoin ETF, even though Grayscale and Fidelity have met all the conditions. The lawyer is now saying that Grayscale has a 70% chance of winning the lawsuit. This could force Gensler to allow a spot Bitcoin ETF, bringing billions of dollars into the space.
Exciting Times Ahead
The potential losses faced by Gensler in these cases could lead to massive changes in the crypto space. Coinbase may even have the balls to go after the SEC and Gensler, saying that staking is not illegal. Paxos or Binance may also sue the SEC for declaring their stablecoin security. With these potential losses, Gensler may be on his way out, says George Tung.
Bitcoin Live News: A Massive BTC Price Move is Imminent This Quarter – A Bullish Upswing on the Cards?
The bitcoin price, after consolidating within a very narrow range for a few days, plunged below the crucial support level of $22,000. The bearish volume has accumulated heavily, which may keep the rally within the consolidation range for an extended period. Hence, the price is believed to test the lower support below $21,500 in the coming days, which may attract huge liquidity to the platform.
In the times when the BTC price is believed to be slashing down hard, some possibility of a bullish divergence continues to flash. The price could display massive price action before the end of the month, which may raise the price levels by more than 20% to 25%. Hence indicating the possibility of a trend reversal, sparking a fine upswing.
Apart from this, a couple of technical indicators are also pointing towards a bullish breakout and suggest that the price is at the tip of a massive explosion.
The crypto space appears to have ignited a panic button as the BTC price has dropped below $22,000. But in the longer time frame, diverse action is being witnessed that points out a surprising upswing before the end of the month. The stochastic RSI in the higher time frame is flashing a massive buy signal, considering that the price may leap in the coming days.
The StochRSI levels have crossed bullish after holding their trend within the oversold levels throughout 2022. Presently, with a slight upswing in the levels, the BTC price has recorded a more than 50% jump since the beginning of the year. Meanwhile, during the previous examples, the star crypto has surged by more than 150% and has also ranged up to 250%.
The bullish breakout of the StochRSI has kicked off a massively bull rally previously and hence a similar price action may be expected at the momentum.
Massive Stablecoins Flew into the Exchanges, Is the Market Preparing for A Fresh Bull Run?
The stablecoin dominance has increased drastically in recent times which has also impacted circulation. Recently, the supply of stablecoins on the exchanges has marked new highs, meaning, the traders are constantly transferring their stablecoins onto the exchanges. While, some may believe it is a bearish factor for Bitcoin and the other altcoin price, the crypto markets, in fact, may rebound from the bearish trend and rise high.
The stablecoin netflow has crossed $1 billion based on some popular on-chain platforms. The On the other hand, the BTC inflow to the exchanges remained relatively low, indicating the traders accumulating and holding BTC for a longer time.
The rise in the exchange balance reserve indicates that the traders are preparing to accumulate Bitcoin and other altcoins that may have a massive impact on the values of the major cryptos. This also indicates the surging buying power of and the demand for cryptos, which may drive the prices higher soon. At the same time, Bitcoin inflow to the exchanges has reminded relatively low.
Also, the whales have been accumulating USDT as the address holding large volumes of USDT has surged. Collectively, the rise in the stablecoin’s dominance has elevated its reserve within the exchange. All the signals are pointing towards a decent upswing which may get intensified if the bulls play a major role.
Bitcoin News Today: BTC Price Ready for a Massive Drop-May Plunge Below $20K Soon
Bitcoin price is attempting to rebound from the lower trend despite massive selling pressure that has been mounted up. While market experts believe the price may rebound and rise finely, the BTC price is displaying the possibility of a bearish pullback in the coming days.
After the star crypto completed the first bullish impulse wave, which was a positive sign for the future, the unanticipated correction has been triggered. Moreover, if seen from the Elliot wave perspective, Wave 2 corrections are usually deeper, especially in crypto 0.618 FIB or even lower is a classic retracement.
Previously, during the upswing in the first fortnight of 2023, the BTC price soared high without any scope for correction and hence left an unfilled gap that may pose a threat. Therefore, considering the above conditions, a massive price plunge could be pre-programmed.
Presently, 0.618 FIB is around $18,568 and the start of the gap with POC of the previous consolidation structure is at $16,830. These two levels are extremely important that can offer a good entry point. In the chart above, a huge gap between $16830 and $20407 is seen which is believed to be filled sooner or later. Once the gap is filled the price may rise beyond $40,000 very soon.
ANKR Platform Witnessed Massive Influx of Liquidity-Will it Hit $0.1 Today?
Ankr just announced its partnership with Microsoft and became the top gainer of the day within no time. Ankr is a decentralized blockchain infrastructure provider that operates an array of nodes globally distributed across over 50 Proof-of-Stake networks.
The collaboration with Microsoft aims to launch enterprise-grade blockchain nodes with custom specifications for global location, memory, and bandwidth according to their unique use cases.
Further, the data is optimized considering the high-level queries of speed and reliability of dozens of blockchains with serverless functionality utilizing GeoIP, failovers, Caching rules, and monitoring. Moreover, the performance of the nodes may be accessed anytime and the RPC clients can access user data and advanced telemetry across 38 blockchains.
With this Partnership, Will ANKR’s price remain bullish in the long term?
The ANKR price began the day’s trade with a decent price variation that intensified with the announcement. The volume surged gigantically within minutes by more than 2000% to surge from $75 million to as high as $1.5 billion in less than 24 hours.
Moreover, the market cap also stood hiked by more than 50%, recording levels close to $500 million. Therefore, now the question arises that whether the upswing may continue or witness a major pullback.
The ANKR price, after the recent price jump, has formed a bullish flag as the price levels are consolidating within a pennant. The RSI levels have also surged high and despite the pullback, the levels remain elevated despite the recent pullback. Hence it can be analyzed that the price may remain under the bullish influence and try to slash a zero from its value very soon.
The Crypto Markets is on the Edge of Massive Explosion-Here’s When they May Undergo a 10x Rally
The global market capitalization is slowly growing as the crypto platforms are displaying enough strength that could lay down a notable upswing soon. The total crypto market cap has just flashed a massive buy signal as the ‘SuperTrend’ goes bullish. Supertrend is one such indicator that offers a simple buy and sells signal. It is referred to as a trend line above or below the current price depending on whether the BTC price is bullish or bearish.
If the trend line hits the price, the Supertrend line changes its color from red to green or vice versa post to which a signal is triggered. A crypto proponent discovered the massive buy signal which has flashed and expects the crypto market cap to undergo a 10x rally in the coming days.
Previously, in July 2020, when the buy signal was flashed out, the total market grew by more than 10x and rose from $300 billion to as high as $3 trillion. Besides, the first-ever buy signal resulted in a 200x increase and hence mow when the buy signal popped up again the impact of the global market capitalization could be massive. The market capitalization which is around $1.1 trillion at the moment, may rise heavily to mark new highs in the coming days.
Once the market cap begging with a massive surge, popular tokens like Bitcoin, Ethereum, Solana, Polkadot, etc and many more may mark new highs in the coming days. This could also trigger a bull run which may uplift the ADA & XRP prices towards a new high which are stuck within minor ranges. Therefore, with the bullish signals, will the crypto space trigger yet another bull run? We need to wait and watch.
XRP Price May trigger a Massive Upswing- This is When it Could hit $1!
The XRP price has begun to consolidate just below $0.4 levels after facing constant rejections. The price again dropped back to $0.38 and the current trade set-up indicates the price is poised to test lower targets in the coming days. However, the markets have again turned green at the moment due to which the price could be expected to rise above the consolidation very soon.
XRP price ever since has marked the 2021 highs close to $2 and has been trading within a bearish, falling wedge. Despite multiple attempts, the price has failed to break above the consolidation. However, the bull appears to have accumulated enough strength at the moment and hence a significant price spike is about to happen.
A well-known analyst, Tolberati believes that the XRP price is closer to doubling its price first to hit the symmetrical triangle’s POC which is around $0.81 or even higher close to $0.94. These zones are among the high liquidity zone. Therefore, after bulls break above these levels, then they are believed to break above $1 levels, post to which XRP price may trigger a fine bull run.
The analyst also highlights the formation of the head and shoulders pattern that failed as the price continued to move within a falling wedge pattern. The price is consolidating exactly at the wedge’s trendline and hence a bullish-green candle may occur any time from now. Moreover, the Elliott Wave analysis indicates the formation of a 3-wave structure everywhere.
Therefore, the XRP price has been maintaining its own trend and surging hard amid the bullish market sentiments. However, this time the bulls are expected to hold the price up.
Crypto Analysts Michael van de Poppe Predict Massive Bitcoin Price Rally to Reach $40k
According to renowned expert Michael van de Poppe, Bitcoin (BTC) is showing signs of a major price surge in the near future. This is because it’s currently trading above a critical level.
Expert Outlines How BTC Could Rally to $40k
At the time of this writing, the price of Bitcoin was $22,726, much lower than the resistance level identified by Van de Poppe, which is $23,200. Even though the expert claims he still expects a pullback near $21,700, he admits that Bitcoin trading activity is rising. This indicates that momentum is on the side of BTC bulls, which means that the top cryptocurrency may skyrocket to $40,000 by June of this year.
According to the expert, a break over $23,200 would almost certainly accelerate Bitcoin to $25,000, which is the level of the next immediate resistance level. Van de Poppe is of the opinion that there is a significant possibility that the current level will be swept to extract liquidity but that this may provide a fantastic chance to buy in.
The trade volume for Bitcoin is now at $40.7 billion, and its price has decreased by 2% in the last twenty-four hours. Bitcoin is currently rated number one, with a market capitalization of $438.2 billion.
In the event that Bitcoin’s price drops below its present level, the token may drop even more to a projected target of $22,100, which is supported by an ascending trendline. According to the technical analysis findings, selling pressure is rising, as shown by the RSI and MACD indicators. Because of this, the value of Bitcoin might reach a new low of $22,050 in the near future.
The 50-day exponential moving average suggests that the king cryptocurrency may encounter resistance close to the level of $23,250, even though the trend is still bullish. If it goes higher than $23,250, the price might go as high as $23,500, which would indicate that there is the possibility of a rise in value. Let’s watch and see the direction BTC moves.
Cardano (ADA), Polygon (MATIC), and Orbeon Protocol (ORBN) Poised for massive growth
The world of cryptocurrencies is experiencing a surge of growth and innovation, with three projects in particular poised for massive success: Cardano (ADA), Polygon (MATIC), and Orbeon Protocol (ORBN). Orbeon Protocol (ORBN) is making waves as a groundbreaking DeFi initiative revolutionizing the crowdfunding and venture capital industries. With experts predicting a staggering 6000% rise to reach $0.24 by the end of 2023, now is the time to invest in this promising project and ride the wave of growth.
Cardano (ADA) aims to provide a secure, long-lasting, and interoperable platform for developing and deploying smart contracts and decentralized applications. Cardano (ADA) is dedicated to the advancement of the digital asset market. Cardano (ADA) was developed to address critical issues in the Bitcoin ecosystem, including scalability, decentralization, and security.
Cardano (ADA) will receive three significant upgrades in 2023. To begin, at least two new stablecoins will be introduced on Cardano (ADA). USDA will be launched on the Anses platform by the foundation behind Cardano (ADA). There is also the DJED stablecoin, which is being created in collaboration with Coti. This currency is marketed as an overcollateralized stablecoin.
Another significant improvement coming to Cardano (ADA) is Hydra, the network’s layer 2 scalability solution. Like previous scaling solutions, Hydra will allow transactions to be performed off-chain, relieving the load on the Cardano (ADA) main chain.
Except for the fork, Polygon (MATIC) has had a great start to the year. Creating a number of high-profile projects and partnerships with well-known companies like Disney and Reddit, as well as a Web3 incubator with Mastercard.
Polygon (MATIC) also wants to reduce the severity of gas spikes and cut down on inefficiencies in chain reorganization so that finality can be reached faster. Polygon (MATIC) makes transactions happen faster and costs less in gas, which is good for the Ethereum blockchain. Polygon (MATIC) also gives full security and positive dynamics.
Analysts think Polygon (MATIC) will continue to skyrocket as long as the Polygon (MATIC) network continues to bring in people who aren’t used to crypto through new products from companies like Starbucks.
Orbeon Protocol (ORBN)
Orbeon Protocol (ORBN) is a groundbreaking DeFi project that will change the crowdfunding and venture capital industries. Orbeon Protocol (ORBN) connects investors and new businesses that want to raise money on a safer and more efficient platform.
Orbeon Protocol (ORBN) allows people to invest in companies with as little as $1. A fractionalized NFT shows how much ownership they have in the company. Orbeon Protocol (ORBN) lets regular investors put their money into companies they think will do well.
Using Orbeon Protocol (ORBN), startups can create other ways to get money. Using the Orbeon Protocol (ORBN) Launchpad, a new company can make fractionalized NFTs to raise money. These NFTs represent equity in the company and can be bought by retail investors.
The price of the Orbeon Protocol (ORBN) token is only $0.071. This is a great price point to start because many experts think it will reach $0.24 by the end. This is an increase of 6000%, so invest now and make the most of it. The price of Orbeon Protocol (ORBN) has increased by more than 1675% since its initial presale price.
Find Out More About The Orbeon Protocol Presale
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Fetch.ai (FET) Price Massive Surge Attracts More Whales to the AI Crypto
Fetch.ai (FET), a blockchain AI crypto token based on Binance, has seen its value increase by 250% over the last thirty days. This increase is in accordance with the bubble that began in the cryptocurrency market the previous month, which has attracted whales to the cryptocurrency.
Whales Stacking Fetch.ai
At press time, FET is worth $0.56, having gone up by 31% in the past twenty-four hours and 107.5% in the past seven days. Currently, whales are in control, and they are buying and selling Fetch.ai (FET) like crazy, making it one of the most frequently traded smart contracts among the top 100 ETH whales.
One of the top five cryptocurrencies that big wallet holders are interested in buying and stockpiling for the long term is FET, according to data compiled by WhaleStats, a prominent whale activity tracker.
A large number of whales have been amassing over the last twenty-four hours, which sometimes precedes a price gain for the cryptocurrency due to a big event or the appearance of positive technical indicators.
The recent price increase in FET is not unexpected. This singular achievement has helped propel the present mood in the cryptocurrency market, and it compliments the fact that digital money is recognized to have significant volatility that is typically favorably biased.
The rising profile of Fetch.ai’s ecosystem is also a factor in the current bullish mood. The project recognizes the need to inform its user base about the protocol’s advantages; hence it has been allocating resources to that end. The protocol aims to increase familiarity with its technology and the goods it offers by hosting a series of Ask Me Anything (AMA) threads and Twitter Spaces chats with its key specialists.
Through the use of autonomous AI to carry out operations that make use of its global network of data, the platform aims to democratize access to AI technology by providing a permissionless network to which anyone may join and have access to protected datasets. So far, the protocol’s planned enhancements have allowed it to fulfill its promise. But will it continue to spike? Only time will tell.
Bitcoin Bulls On Fire: Analyst Predicts Massive Price Pump Before July
In the last few weeks, it has been made evident that the Bitcoin bulls are aiming to seize complete control of the market; nevertheless, we have not yet seen a particularly significant pump, and industry professionals continue to compare the year’s performance to that of 2019.
150% Pump Before July?
George Tung, an expert in cryptocurrencies and a popular YouTuber, has forecast that the price of Bitcoin would skyrocket by 150% in the next three to four months, taking it to a total of $50,000. A similar trend was seen in 2019 when Bitcoin’s price skyrocketed from $3,600 to $14,000 in the space of only a few short months.
Tung believes that 2023 is showing tendencies that are almost the same as those seen in 2019, and he is convinced that the king cryptocurrency will have a large increase before July, just as it did in 2019.
As for Bitcoin, the fact that the king coin was able to recover after hitting the $22,800 support level on February 1 suggests that bulls are buying declines to this level. On February 2, the bulls were able to drive the price higher, over $24,000, but they were unable to maintain those higher levels.
Moving averages that are climbing higher and a relative strength index (RSI) that is in the overbought zone both suggest that the route of least resistance is upwards. The price of bitcoin may reach $25,000 if it moves higher from where it is now trading, which is $23,400. It is quite probable that this level will serve as a challenging obstacle.
A break and closure below the 20-day exponential moving average, which is now at $22,279, would be the first indicator of weakness in the market. This might cause the stops of a number of short-term traders to be triggered, which would result in the token falling to $21,480.
As a crypto enthusiast, what do you make of the current market conditions for Bitcoin? Will it reach $25,000 as predicted, or will it face some roadblocks along the way?
Aptos Labs Announces New Features – APT Price Massive Surge On Horizon!
The Aptos (APT) network, a layer 1 (L1) blockchain that has attracted significant crypto attention, has rallied more than 385 percent in the past 30 days. Trading around $18.25 on Thursday, the APT market has recorded total liquidations of about $6.08 million in the past 24 hours. As more traders take profits, the APT bulls are losing the rising momentum that has existed for the whole of January.
As such, the latest layer 1 blockchain with huge on-chain activity may be looking into an imminent correction. Furthermore, the APT price in the four-hour time frame has broken from a rising trend line.
Nonetheless, the Aptos developers are busy building infrastructure to onboard more NFT and crypto traders. As a result, the Aptos price could rally onward to the price discovery region and set new ATH.
Aptos (APT) Network Welcome New Upgrades
Backed by hundreds of developers distributed around the world, the Aptos network is constantly getting upgrades to meet the demand for decentralized applications. On Wednesday, the Aptos blockchain announced the release of a new upgrade dubbed v1.2.4. Notably, the Aptos node upgrade is meant to bring new features and enhancements to the developers and reciprocate to users.
With the new upgrade, the Aptos blockchain added exponential back-off to reduce timeouts for full nodes in low-bandwidth environments. Additionally, Aptos v1.2.4 has made several small performance optimizations to reduce latencies and better handle timeouts.
Previously, the Aptos team had made several changes including some that could render the network incapacitated.
“Our team also fixed a couple of bugs that had the potential to crash the validator or DoS the system. We identified these issues as part of our routine third-party auditing and bug bounty program,” Aptos Lab noted.
Voyager Bankruptcy Leads to Massive 270 Billion Shiba Inu Transfer! SHIB Price Drop On Horizon?
The bankrupt cryptocurrency lender Voyager Digital has transferred 270 billion SHIB to Coinbase, Kraken, and BinanceUS over the course of three transactions totaling 90 billion each.
Today, crypto on-chain analytics firm Lookonchain made the announcement on Twitter, where they also shared a link to the transaction details. According to a snapshot that was supplied, the initial transfer was sent to what Lookonchain identified as the deposit address for BinanceUS.
The now-defunct cryptocurrency lender is said to be in possession of 6.8 trillion SHIB, as reported by Lookonchain and corroborated by the data on the Voyager address.
This move has aroused suspicions in the cryptocurrency world, with some believing that the bankrupt crypto lender is trying to cash in on the recent market boom in order to repay creditors, but Voyager has yet to comment on the matter. In addition to this, it has aroused worries about an impending sale of Shiba Inu, which has the potential to have a detrimental influence on the price of the breed.
How Shiba Inu is Doing?
As for SHIB, while continuing its ascent, the value of the meme token is being bolstered by a significant amount of support from the community. In the last thirty days, the price of SHIB has increased by more than 47 percent. Nevertheless, the recent revival of the cryptocurrency market was the primary driver of this spike. It is currently worth $0.00001201.
In conclusion, the most probable scenario for the Shiba Inu price forecast for the month of February is a bullish breakout, followed by a climb that is headed toward $0.000014. This bullish price projection, on the other hand, would be rendered worthless if the price closed below the support line of the triangle, which may set off a downward trend below $0.0000103.
Dogecoin on the Edge of Massive Explosion! Will DOGE Price Reach $1 This Bull Run?
Dogecoin, the 9th-ranked asset, has jumped more than 10% at the moment and is heading strongly towards the crucial levels at around $0.1. Interestingly, the DOGE community appears to have activated as the trading volume has jumped over 200% to reach $1.5 billion, largely dominated by the bulls. The price is currently discovering new highs for 2023, displaying the possibility of a continued upswing ahead.
The DOGE price is in the process of breaking above the falling wedge, which is largely considered bullish. The price after a breakout may rise beyond $0.11 levels and test the crucial resistance at $0.14, slicing through the pivotal zones at $0.12. In the meantime, the DOGE price against BTC is testing some crucial zones.
As per a popular analyst, Bluntz, the DOGE/BTC price is all set to undergo a massive breakout that may ignite a 100% upswing throughout Q1 2023.
“Admittedly doge/usd looks like a hot fucking mess to my eyes but doge/btc OTOH looks gearing up for a revenge pump of probably 100% or more.
Would be negligence on my part if I did not have a bag of this,”
Dogecoin is one of the first altcoins to bounce back which is trading within crucial levels at the moment. These levels have been acting as a barrier for almost a year and holding beyond these levels could lay down a notable upswing beyond $1 as predicted by an analyst Captain Faibik.
Following the speculation of a massive upswing, Dogecoin whales became active and transferred nearly 450 million tokens for $40 million. The top 20 wallets swapped a token to an unknown wallet with a fee of 1.01 DOGE worth $0.09. Collectively. Dogecoin’s (DOGE) price is believed to maintain a notable upswing in the near future.
Aptos Currently Faces Massive Sell-Off, What’s Next For APT Price
The last 30 days has worked out spectacularly well for most of the cryptocurrencies and Aptos tops the list. In the last one month, Aptos has spiked nearly 460%. However, after a bullish week, Aptos faced a slight correction at $17.52.
At the time of writing, Aptos is changing hands at $17.06 after a pull back of 5.11% over the last 24hrs. However, in the last three weeks, Aptos has surged nearly 500% after hitting a new all-time high of $18.36.
Aptos To Form A Downward Movement ?
Meanwhile, a veteran crypto trader who is anonymously known as LightCrypto throws light on Aptos mass-selling by the team. As per the trader Aptos dev team wallet which is in connection with Aptos (APT) blockchain is transfering huge APT tokens to Binance exchange. LightCrypto then states that Binance has so far received $20 million APT while $1 billion is still in the wallet.
Further the analyst expects that these Aptos (APT) tokens have been taken over by South Korea’s crypto exchange, Upbit.
Also a blockchain advisor and CIO at Selini Capital warns investors to not to open any short positions on APT/USDT pair as of now.
Meanwhile, Aptos’ further price action mostly depends on the first cryptocurrency, Bitcoin’s upward movement which is currently flirting around $23,000 level.
Top Cryptos With the Most Potential For Massive Growth in February
As the entire crypto market continues to be in what has been mostly a bull market for the past four weeks, the crypto community is ecstatic to see what February brings and which cryptocurrencies have the most potential to see a huge surge.
The world’s largest cryptocurrency has been seeing some cool bullish action. After breaching $23,000 sometime a week ago, the king coin came down below the support level and staggered around $22,500 for a couple of days, but as of the time this article was written, BTC has once again crossed over to $23,090, as it makes it way to $25,000.
Analysts continue to be pessimistic, and Bitcoin continues to prove them wrong. Recall that BTC left 2022 hovering around $14,800, therefore it has increased by around 40% in just four weeks. On-chain signals have mostly been bullish throughout the month, and they remain so even at press time. I’d say Bitcoin has the most potential for massive growth next month as adoption continues to be on the rise.
It is worth mentioning that ADA is the best-performing crypto among the top 10 over the past week. The Hoskinson-founded token has risen by 4.2% in the last twenty-four hours, bringing its price to $0.398 at press time and it seems to be heading directly for $1. While I can’t say for sure that the key level will be breached in February, ADA does show signs of massive growth over the coming month.
Over the past thirty days, MATIC has increased by nearly 45%, from $0.7 to $1.12 at press time. The token has a lot of potential for huge growth in the near future as on-chain signals and analyses indicate a bullish run for the token.
Like Bitcoin, Ether has also been maintaining strong bullish movements. Although the largest altcoin has been lounging at the comfortable resistance level of $1,500 the entire month, several analysts seem to believe ETH will spike to $3,000 or more before the middle of the year. Notably, the token has increased by 36% in the past thirty days seeing as it bid farewell to 2022 at barely $1,200. Before the end of February, the token has the potential to surge past $2,000.