Bitcoin to Replace Traditional Currencies Tim Draper, a renowned venture capitalist and founder of Draper Associates, believes that Bitcoin has the potential to replace traditional currencies like the US Dollar. In a recent interview on Bloomberg, Draper expressed his confidence that people will eventually prefer Bitcoin over fiat currencies, allowing them to purchase necessities like…
Current State and Future Trajectory of Bitcoin In an interview with CNBC’s ‘Squawk Box,’ Mike Novogratz, CEO of Galaxy Digital, shared his insights on Bitcoin’s current state and future trajectory. He noted the recent surge in Bitcoin prices but suggested a potential consolidation phase. Institutional Adoption and Accessibility Novogratz emphasized the significance of institutional and…
Bitcoin’s rocky start to the week, losing its footing above $52,000, has raised concerns. However, indicators suggest a possible continuation of the upward trend. Fisher Transform Analysis Crypto analyst Tony The Bull identified a significant trend in Bitcoin’s chart that could trigger a continuation of the rally above $52,000. The 1-week Fisher Transform shows similarities…
Bitcoin’s value has been on a wild ride lately, hitting a high of $53,000 before taking a nosedive. But one crypto expert says the cryptocurrency still has room to grow. Bitcoin’s Strength Despite the recent drop, Bitcoin is still trading above $50,000, which analyst Michael van de Poppe sees as a sign of strength. He…
Bitcoin’s Pre-Halving Retracement Crypto analysts believe that Bitcoin’s recent price action suggests an imminent altcoin season. During this period, other crypto tokens typically outperform Bitcoin. Correction on the Horizon Analysts have observed that Bitcoin’s funding rate is “mildly high,” indicating a potential correction. This creates an opportunity for altcoins to make significant gains. Ethereum Leading…
Bitcoin has been on a bullish run, reaching $50,000 for the first time in two years. However, some crypto analysts believe that a correction may be on the horizon. Potential Pullback Cryptocurrency expert Crypto Jelle recently shared his analysis with his followers on social media. He believes that Bitcoin could undergo a retest anytime soon….
Whales Accumulate as Bitcoin Dips Bitcoin has recently experienced a slight dip, but it hasn’t stopped “whales” (large investors) from accumulating more of the cryptocurrency. Inflows into “accumulation addresses” (addresses with no outgoing transactions and balances over 10 BTC) have reached an all-time high of 25,300 BTC. These addresses are considered “Bitcoin Diamond Hands” due…
Yesterday, Bitcoin took a roller coaster ride, briefly touching $53,000 before crashing to $50,820. Amidst the chaos, one thing stood out: a huge surge in trading volume for certain Bitcoin ETFs. ETF Trading Boom Bloomberg’s Eric Balchunas noticed something unusual. The VanEck Bitcoin ETF (HODL) saw a whopping 14x increase in trading volume, with over…
Finance Expert’s Prediction Renowned author Robert Kiyosaki has predicted that Bitcoin will reach $100,000 by June 2024. While he didn’t specify the reason for this surge, Kiyosaki has consistently been a Bitcoin advocate. Previous Predictions Kiyosaki has previously predicted Bitcoin reaching $150,000, citing the approval of Spot Bitcoin ETFs as a catalyst. He has also…
Rising Open Interest Bitcoin’s open interest has been soaring as the price has climbed steadily. This surge reflects the growing interest in crypto since the SEC approved Spot Bitcoin ETFs. The open interest has now reached its highest level since November 2021, when Bitcoin hit its all-time high of $69,000. Historical Levels Data shows that…
