A crypto trader has made an astonishing 86,000% profit on an Ethereum-based memecoin investment. Investment Details According to blockchain tracker Lookonchain, the trader purchased $6,500 worth of the MAGA (TRUMP) memecoin in late 2023. Today, that investment is worth a staggering $5.6 million. Trump’s Pro-Crypto Remarks The sudden surge in value coincides with former US…
Analyst’s Outlook Benjamin Cowen, a renowned crypto analyst, believes that Bitcoin (BTC) could be nearing its bottom. He draws comparisons to the market’s behavior after the 2016 halving event, which occurred eight years ago. Historical Precedent According to Cowen, the current price action resembles that of 2016 more closely than the 2020 halving. This suggests…
A popular crypto analyst, Altcoin Sherpa, believes that Bitcoin’s bull run is not over and predicts a surge to $100,000 by the fourth quarter of 2024. Potential Roadblocks However, Sherpa warns of potential bear cases that could cause a 35% drop in Bitcoin’s value before the rally. He suggests that a move to $50,000 could…
Negative NUPL Signal: A Warning Sign Bitcoin’s short-term holders are showing signs of fear, as their Net Unrealized Profit/Loss (NUPL) has turned negative. This suggests that they’re currently losing money on their investments. Potential Price Drop on the Horizon? This trend could lead to a wave of sell-offs, as investors fear further price declines. However,…
Bitcoin’s Bearish Outlook Market analyst Michael Van De Poppe warns of a potential dip in Bitcoin’s price to $52,000. He believes Bitcoin is at a crucial level and needs to hold above $62,250 to maintain its upward momentum. If it fails, he anticipates a correction to $55,000 or even $52,000. Reasons for the Dip Van…
Trump’s Shift in Stance Former President Donald Trump has made a surprising U-turn on his previous skepticism towards Bitcoin and cryptocurrencies. In a recent video, he expressed strong support for these digital assets. Potential Impact on Bitcoin Price Analysts believe that Trump’s endorsement could significantly boost Bitcoin’s price. MacroScope, a financial analyst, emphasized the importance…
With the US presidential election approaching, the cryptocurrency industry has been buzzing with speculation about how the outcome could impact its future. Cardano Founder’s Concerns about President Biden Cardano founder Charles Hoskinson has expressed strong disapproval of President Biden’s approach to the crypto industry. He believes the Biden administration has actively tried to harm the…
Kraken, a major cryptocurrency exchange, is fighting back against the SEC’s claim that it operated as an unregistered exchange dealing with securities. Kraken’s Argument Kraken argues that the SEC is overreaching by: Confusing primary and secondary market transactions: Kraken claims the SEC is treating initial coin offerings (ICOs) as if they were traded on Kraken’s…
Robert Kiyosaki, the author of “Rich Dad Poor Dad,” believes it’s time to move beyond Bitcoin and invest in Ethereum. Ethereum as a Hedge against Currency Weakness Kiyosaki suggests that Ethereum and other cryptocurrencies can protect against the declining value of the US dollar. He believes that the US dollar is losing its strength due…
SBI’s Commitment to XRP SBI VC Trade, a subsidiary of SBI Holdings, has joined the XRP Ledger (XRPL) as a validator node. This move demonstrates SBI’s dedication to the governance and development of the XRPL. SBI’s Validator Strategy SBI aims to operate a stable validator node and gain recognition from the community. This will allow…
