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Bitcoin Analysis in March 2024 BTC hovered well above the 50-day and 200-day EMAs, sending bullish price signals. A BTC move to the Tuesday high of $69,064 would give the bulls a run at the all-time high of $69,276 and $70,000. BTC-spot ETF market flows and the US Jobs Report need consideration. However, a fall below the $66,000 handle could signal a fall toward the $59,176 support level. The 14-Daily RSI reading, 73.83, shows BTC sitting in overbought territory. Selling pressure may intensify a
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There have been several predictions about Bitcoin reaching a new high in 2024. Standard Chartered initiated this trend last week, doubling its April price call, stating that Bitcoin could reach $100,000 by the end of 2024. The bank attributes this potential bull run to the approval of several ETFs.
Matrixport, a crypto financial services firm, issued a note last week estimating that Bitcoin could reach $63,140 by April 2024 and up to $125,000 by the end of the next year. When asked if Bitcoin could reach $100,000 in 2024, Gauthier responded 'perhaps.' However, he exercised caution against making any predictions about the price.
Price Volatility Warning
While there is optimism due to the potential approval of ETFs on a large scale, there is also a warning that if regulators reject it again, it could lead to a downturn in Bitcoin prices. $BTC $ETH $XRP
Bitcoin Surges by 120%, Price Could Reach a Record High of $100,000 in year 2024
Experts connected to the cryptocurrency industry anticipate that #Bitcoin, amid its rapid upward trend, might surpass its all-time high of $100,000 in 2024. The year 2021 saw the previous record high.
Last week, Ledger CEO Pascal Gauthier revealed to CNBC in an interview that 2023 seemed to be a preparatory year for the acceleration, which is yet to come. The sentiment for 2024 and 2025 is notably positive. #Bitcoin's previous record high was around $69,000 in 2021. Since then, the crypto industry has faced various challenges, from bankruptcy to criminal trials. FTX, once one of the world's largest exchanges, saw its founder Sam Bankman-Fried sentenced to over 100 years in prison for seven cases of criminal fraud.
Meanwhile, #Binance's Changpeng Zhao also faced charges, leading to his departure from the CEO position with a settlement of $4.3 billion with the U.S. Department of Justice. Many view these cases as significant factors negatively impacting the crypto market.
Approval for Bitcoin ETF Possible
Marcus, former leader of Facebook's failed Diem Stablecoin Project, is currently working on enhancing #Bitcoin as a payment network. Investors are optimistic that approval for a Bitcoin exchange-traded fund (ETF) could happen soon. This could attract traditional investors who were previously distant from crypto.
Gauthier stated that the approval of an ETF signifies Bitcoin entering the mainstream, and people have been eagerly awaiting this development. Another significant development is the Bitcoin Halving, scheduled for May 2024, occurring every four years. #Halving takes place when miners, responsible for maintaining the Bitcoin network, halve their rewards. It is believed that Bitcoin's halving may lead to a surge in its value.
According to the President of International Markets at cryptocurrency exchange CoinDCX, several market participants hope for a rally in Bitcoin shortly after the Halving, but the expectation is that it might happen even before.
$Exploring the Rise of #BNB Coin in the Crypto Sphere $BNB
Cryptocurrencies have been making waves in the financial world, and one coin that has captured the attention of many is Binance Coin (BNB). Let's delve into the fascinating journey of BNB and its significant impact on the crypto landscape.
Genesis of BNB Binance Coin was created in 2017 by the cryptocurrency exchange giant, Binance. Initially launched as an ERC-20 token on the Ethereum blockchain, BNB served primarily as a utility token for reduced trading fees on the Binance platform.
Binance Smart Chain (BSC): One of the pivotal moments in BNB's journey was the launch of the Binance Smart Chain in 2020. BSC is a parallel blockchain to Binance Chain, fostering smart contract functionality. This move opened new doors for decentralized applications (DApps) and DeFi projects, catapulting BNB into the DeFi spotlight.
Regulatory Challenges: As the crypto space evolved, regulatory scrutiny increased. BNB, being associated with one of the largest cryptocurrency exchanges, faced challenges related to regulatory compliance. The outcome of these challenges could significantly impact BNB's future trajectory.
Price Performance: BNB's price has witnessed remarkable volatility, experiencing both significant highs and corrections. The dynamic nature of the crypto market and external factors contribute to the price fluctuations of BNB.
10. Future Prospects The future of BNB is intricately tied to the evolution of the cryptocurrency space. Continued innovation, regulator$BNB y adaptability, and the sustained growth of the Binance ecosystem will likely play pivotal roles in shaping BNB's future trajectory.
In conclusion, Binance Coin has emerged as a multifaceted cryptocurrency, evolving from a utility token to a key player in the DeFi and NFT spaces. Its journey reflects the dynamism of the crypto landscape, and as it navigates regulatory challenges, BNB stands at the forefront of innovation, leaving a lasting impact on the crypto sphere.