Bullish Optimism Adam Back, CEO of Blockstream, believes Bitcoin is “super cheap” right now. He predicts that its true value will be realized over time, potentially reaching $100,000. Bearish Sentiments Jeff Ross, CEO of Vailshire Capital, is more cautious. He predicts a 40% correction in Bitcoin’s price after the halving event. He advises investors to…
Market Downturn Ethereum, like other cryptocurrencies, has been hit by a price drop due to rising tensions in the Middle East. Whale Accumulation Despite the panic selling by retail investors, “whales” (large investors) are buying Ethereum at low prices. Specific Whale Transactions One whale withdrew 62,141 ETH ($202.6 million) from Binance in the past five…
Since the start of the year, the crypto world has witnessed an explosion of new digital assets, with over 540,000 cryptocurrencies created in just four months. Rapid Growth According to data from CoinGecko, the total number of crypto assets has now reached 2.52 million. This is a staggering increase from the 440,000 coins that existed…
Bitcoin Bottom and Rally A seasoned trader who accurately predicted the Bitcoin bottom in 2018 believes the recent dip has set the stage for a rally to new all-time highs. Analyst Bluntz analyzed the Bitcoin chart using Elliott Wave theory, which suggests a three-part correction followed by an uptrend. Bluntz believes Bitcoin has completed this…
Investor’s Perspective Venture capitalist Chris Burniske has drawn parallels between the recent performance of Celestia (TIA) and Solana (SOL) in 2020. He believes TIA may have the potential to replicate SOL’s 100x rally. Solana’s Historic Rise Burniske notes that SOL experienced a significant dip followed by a remarkable 10,000% rally in 2021. He advises investors…
Institutional Demand on the Rise The launch of Spot Bitcoin ETFs has fueled institutional demand for Bitcoin. ETF issuers have been accumulating BTC, now holding a significant 4.27% of the total supply. This has created a new category of whale addresses on the Bitcoin network. Leading ETFs Dominate BlackRock’s IBIT and Fidelity’s FBTC ETFs are…
Supply and Demand Imbalance A top crypto analyst explains the recent altcoin crash as a result of a supply and demand imbalance. With the rapid launch of new altcoins, demand was outpaced by supply, leading to a shift in momentum towards the bears. TOTAL3’s Plunge TOTAL3, an index tracking the value of altcoin markets, dropped…
Price Drop Bitcoin’s value plummeted on Saturday after news of Iran launching missile attacks on Israel. The price dropped by 8.07%, from $67,132 to $61,710. This is the second consecutive day of losses for Bitcoin, which fell 5% on Friday. Underlying Causes The drone attacks on Israel have raised concerns about a potential full-scale war…
Coinbase, the largest crypto exchange in the US, is appealing a court decision in its ongoing case with the Securities and Exchange Commission (SEC). Interlocutory Appeal Coinbase is asking the court to review a specific legal question before the trial is over. This type of appeal is called an interlocutory appeal. The Question The question…
Southbound Funds Restricted Despite earlier reports suggesting otherwise, it’s been confirmed that mainland China’s Southbound funds cannot invest in crypto ETFs listed in Hong Kong. This is due to China’s strict regulations on cryptocurrencies. Impact on ETF Debut Hong Kong’s Securities and Futures Commission (SFC) is close to approving Bitcoin and Ether ETFs. However, the…
