Strong Spot Demand Increased demand in the spot market suggests the rally may have staying power. Data shows $40.7 million in short positions were liquidated, pushing prices higher. BTC Halving Approaching The upcoming halving (reducing Bitcoin rewards) is expected to drive prices higher. Experts believe the halving is not yet fully priced in. Correlation with…
Analyst’s Predictions Cryptocurrency analyst Michael Van De Poppe believes that Bitcoin (BTC) is poised to reach $300,000 during this bull cycle. He cites Bitcoin’s recent consolidation and the upcoming Bitcoin Halving as factors that could fuel its growth. Resistance and Breakout BTC has been facing resistance, but Poppe anticipates a breakout that could lead to…
Consolidation Phase: A Bullish Precursor As the Bitcoin halving approaches, analysts like Joe Consorti believe we’re in a crucial consolidation phase. Bitcoin has been hovering around $60,000 for several weeks, a pattern that has historically preceded bull runs. Market Dynamics and Correlation Breaks The current market cycle has seen correlation breaks between the stock market…
Rare Technical Pattern A crypto analyst has spotted a rare pattern in Bitcoin’s price movements that suggests a significant surge in the coming months. According to the analyst, when Bitcoin’s price closes above the upper Bollinger bands for two consecutive months, it has historically doubled within three months. This pattern has been observed in 2013,…
The Halving and Its Impact on Mining The Bitcoin halving is an event that occurs every four years, where the reward for mining a block is cut in half. This reduces the supply of new Bitcoins entering circulation, which can impact the value of the cryptocurrency. Mining Costs Post-Halving With the halving approaching, mining costs…
Bitcoin (BTC) has dipped below $70,000 after a brief surge above that mark. This suggests that bears are still in charge, and that could continue this week. Here’s what to keep an eye on: Pre-Halving Retrace Analysts believe the pre-halving retrace, a typical price drop before Bitcoin’s halving event, may be over. However, the cycle…
Bill Morgan, a lawyer and entrepreneur, has addressed the rumors that Ripple is dumping XRP to manipulate its price. No Evidence to Support Claims Morgan debunks these claims, stating that there is no evidence to suggest that Ripple is intentionally dumping XRP to suppress its price. McCaleb’s XRP Sales Jed McCaleb, a co-founder of Ripple,…
A popular crypto analyst, The Crypto Dog, is predicting a surge for the Ethereum competitor Near (NEAR). NEAR on the Rise The analyst believes NEAR is about to break out of a resistance level and rally to $9. He notes that NEAR has been struggling to break above this resistance but expects it to happen…
Coinbase Institutional, the research arm of the US crypto exchange, predicts that investors will eagerly buy Bitcoin (BTC) when it dips. Gold’s Success Coinbase highlights the success of gold as a safe haven asset amid economic and geopolitical concerns. Both inflation fears and anticipation of interest rate cuts by the Federal Reserve have contributed to…
A federal jury has ruled that Terraform Labs and its founder, Do Kwon, are responsible for defrauding investors in a crypto asset scheme. SEC Charges The U.S. Securities and Exchange Commission (SEC) filed charges against Kwon and his company in February 2022. The SEC alleged that they sold crypto asset securities and misled investors about…
