Hashrate Hiccup or Miner Exodus? After a surge in Bitcoin’s hashrate (computational power) following the block reward halving in April, it has unexpectedly dropped by 20%. This has sparked speculation about a potential “miner capitulation,” where less efficient miners are shutting down operations due to reduced profits. Hash Ribbons Flash Warning Hash Ribbons, a technical…
Global Money Supply: A Key Indicator According to James Coutts, Bitcoin’s future looks bright due to shifts in global liquidity. He highlights the Global Money Supply (M2) as a crucial factor, as it represents the amount of money in circulation. Momentum is Key Coutts emphasizes that the rate of change in M2 is more important…
Analyst Predicts Sharp Surge Crypto analyst BitQuant, who accurately predicted Bitcoin’s rise to $73,000 in 2024, has unveiled a new target: $95,000. Single Move BitQuant believes Bitcoin can reach this target in a single move, representing a 50% increase from its current level. Timing Uncertain The analyst doesn’t speculate on the exact timing of the…
Long-Term Holders Accumulate Bitcoin’s long-term holders are scooping up the cryptocurrency at its current lower price. This suggests they believe in its potential for growth, despite recent fluctuations. 70,000 BTC Bought These long-term holders have bought a whopping 70,000 BTC, worth over $4.3 billion. This buying spree is seen as a bullish signal for Bitcoin….
Analyst’s Insight CryptoCon, a crypto analyst, has identified a crucial price point for Bitcoin: $57,938. He believes a drop to this level could be beneficial for Bitcoin’s long-term growth. Why $57,938 Matters This price represents the 20-week Exponential Moving Average (EMA). A decline to this level would provide a “boredom and sideways price action” that…
Ric Edelman, a financial expert with $291 billion under management, predicts that Bitcoin will reach a staggering $420,000. Here’s why: Reasons for the Surge Edelman believes that a modest global allocation of just 1% of assets to Bitcoin could result in a market cap of $7.4 trillion. This would drive the price up significantly. Advantages…
As Bitcoin’s price continues to swing, investors are wondering when it will hit its lowest point. Some believe it’s already happened, while others predict further declines. Expert’s Prediction Dave the Wave, a crypto expert who accurately predicted the 2021 Bitcoin peak, has now made a prediction for the bottom in 2024. Indicators of a Bottom…
Mt. Gox Preparing for Distribution Mt. Gox, the Tokyo-based Bitcoin exchange, is set to release a huge chunk of Bitcoin (BTC) and Bitcoin Cash (BCH) into the market. This move is part of the ongoing process to compensate creditors who lost funds in the 2011 hack. The Kraken API interface shows that Mt. Gox is…
A Key Threshold to Watch Bitcoin analyst Titan of Crypto has identified $61,500 as a critical price level to monitor. This level is seen as a pivotal point that could determine Bitcoin’s future trajectory. Market Volatility Expected Titan warns of potential market volatility around Federal Reserve Chair Jerome Powell’s speech today. He advises holding off…
CPI Preview The Consumer Price Index (CPI) report, due out on May 15th, is expected to significantly impact Bitcoin’s price. Bitcoin has been sensitive to macroeconomic news lately, making this report particularly important. What to Expect Analysts predict a slight slowdown in inflation for April, with a year-over-year increase of 3.4% and a month-to-month increase…
