What is the MVRV Ratio? The MVRV ratio compares an asset’s market value to its historical investment costs. A negative ratio indicates that many holders are currently losing money. Dogecoin’s MVRV Ratio Turns Negative Dogecoin’s MVRV ratio recently fell below zero, suggesting that many holders are at a loss. This could be a sign of…
A new pilot program in Evanston, Illinois, will provide $500 monthly checks to 140 families living below the poverty line for a year. Eligibility Criteria To qualify, families must: Have children 5 years old or younger Have incomes at or below 1.84 times the federal poverty line ($31,200) Program Focus The program targets families in…
Analyst’s Prediction DonAlt, a popular analyst who accurately predicted Bitcoin’s 2022 low, believes the current bull cycle could reach a peak of $100,000. He predicts a potential surge of over 45% from current levels. Scenario 1: Correction to $50,000 DonAlt suggests that Bitcoin may experience a correction to $50,000 before reaching new highs. If this…
A crypto analyst believes Bitcoin (BTC) could reach new highs if it surpasses a critical range. Key Resistance Zone Credible Crypto, a popular crypto strategist, suggests that Bitcoin could soar after clearing the $68,000-$70,000 resistance. However, if BTC fails to break through this range, it could face a significant dip. Breakout or Breakdown? The analyst…
A popular crypto analyst has shared his bullish views on Solana (SOL), an Ethereum competitor, and provided an update on the gaming altcoin Beam (BEAM). Solana (SOL) Altcoin Sherpa believes Solana has potential for significant gains. He advises buying within the range of $168-$208 and holding for the next few months. Solana is currently trading…
Buying Spree by Short-Term Holders Since December 2023, short-term Bitcoin holders have been on a buying spree, accumulating over 1.2 million BTC. This surge in interest follows the launch of Spot Bitcoin ETFs in the US. Accumulation by Whales and Retail Investors Previously, accumulation was primarily driven by whales and long-term holders. However, recent data…
Short-Term Gains Cryptocurrency analyst Crypto Jelle believes Bitcoin is poised for short-term gains. Despite a recent dip, Jelle expects the coin to revisit $69,000. He advises investors to hold around $66,500 and wait for the upcoming Bitcoin halving. Bullish Pennant Formation Jelle points to a bullish pennant formation, indicating a potential breakout in the coming…
Ethena Labs’ Decision Ethena Labs has added Bitcoin (BTC) as collateral for its USDe product. This aims to increase USDe’s supply from $2 billion to leverage the growing BTC derivative market. Ethena believes this will enhance scalability and liquidity for delta hedging. CryptoQuant CEO’s Concerns Ki Young Ju, CEO of CryptoQuant, has expressed concerns about…
Despite Bitcoin’s recent sideways movement, crypto analyst Lark Davis believes it will continue to surge throughout the year and into 2024. Factors Driving Bitcoin’s Bullishness Election Year:Davis points out that the stock market tends to perform well in election years. As Bitcoin has become more intertwined with traditional markets, it could benefit from this positive…
De-platforming Crypto Businesses Crypto enthusiasts are raising concerns about a coordinated effort by US banks to cut ties with businesses dealing in digital currencies. This effort, known as Operation Choke Point 2.0, aims to restrict crypto’s access to traditional financial systems. Wells Fargo’s Abrupt Closure John Paller, founder of ETHDenver, shared his experience with Wells…
