To mark this milestone of Bitcoin Halving, all verified users can complete specific tasks on Binance Square during the Activity Period, and qualify for up to $10,000 of SATS token voucher reward.  Activity Period: 2024-03-04 09:00 (UTC) to 2024-04-14 09:00 (UTC)All KYC-verified Binance users who log into their Binance accounts and complete the following tasks during the Activity Period will qualify for the $10,000 of SATS reward. Tasks: Comment your prediction for the price of BTC on 20th April 00:00 (UTC+0)  on this post. Share this post on your social media and #HalvingHorizonsThe user with the closest prediction will win $5000. If more than one user shares the same prediction, you’ll share the price pool. AndIf you correctly guessed the price and signed up for a Binance account during the activity period through the shared link of this post or the Binance Square referral link, you can unlock a share of extra $2000 price poolAndIf you correctly guessed the price and completed at least 10 trades during the activity period, you will unlock a share of the extra $3000 price poolEach user can only submit 1 entry. Terms & ConditionsThis activity may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the Activity Period in order to qualify.The $10,000 of SATS token voucher rewards pool will be divided equally among all qualified users.Winners will be notified via a push notification under Creator Center > Square Assistant. Voucher rewards will be distributed within 21 working days after the activity ends. Users may check their voucher rewards via Profile > Rewards Hub. The validity period for the voucher is set at seven days from the day of distribution. Learn how to redeem a voucher.Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to cancel a user’s eligibility in this activity if the account is involved in any behavior that breaches the Binance Square Community Management Guidelines or Binance Square Community Platform Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.Additional promotion terms and conditions can be accessed here.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise. 

Bitcoin (BTC) is currently navigating volatile waters, hovering below the $70,000 mark, with analysts highlighting parallels between the current price movement and historical patterns observed before halving events.
Notably, the market is anticipating the upcoming halving event, widely regarded as a bullish signal for Bitcoin’s long-term prospects. 
In terms of the anticipated price trajectory, crypto analyst Rekt Capital cautioned investors to brace for potential extended losses in the coming weeks, as indicated in a post on X (formerly Twitter) on March 17.

Bitcoin price analysis chart. Source: TradingView
According to the analyst, Bitcoin is on the verge of entering what he termed the “danger zone,” historically marked by significant price retracements before halving events.
The analysis indicates that Bitcoin typically experiences what is termed “pre-halving retraces” days before the actual halving occurs. These retracements have been observed to range from moderate to severe dips in price.
“In 3 days, Bitcoin will officially enter the “Danger Zone” (orange) where historical Pre-Halving Retraces have begun. Historically, Bitcoin has performed Pre-Halving Retraces 14-28 days before the Halving,” he said. 
Bitcoin’s pre-halving retracement 
Specifically, Rekt Capital noted that in 2020, the retracement observed was around 20%, while in the lead-up to the 2016 halving, Bitcoin saw a more substantial retracement of approximately 40%. At the moment, with about 31 days to the halving, Bitcoin has retraced almost 10% from the all-time high. 
Despite Bitcoin falling from its all-time high, the asset remains over 50% up on a year-to-date basis. Indeed, market uncertainty has escalated, considering that Bitcoin hit a new all-time high before the halving event. Historically, the maiden cryptocurrency has registered record highs after the bullish event.
Currently, Bitcoin has dropped from its all-time high, with investors taking profits. Additionally, the asset has also been impacted after another upside surprise on U.S. inflation dimmed prospects of early rate cuts and dented demand for riskier assets.
Bitcoin price analysis
By press time, Bitcoin was trading at $67,287 with daily losses of almost 1%. Over the last seven days, BTC is down 3%.

Bitcoin seven-day price chart. Source: Finbold
In the meantime, a section of the market believes that Bitcoin’s volatility should not be of concern as the asset matures. In this case, some analysts opine that the advent of the Bitcoin spot exchange-traded fund (ETF) could, in theory, help reduce volatility.

The crypto market started the new week with another bullish move as the leading digital asset Bitcoin surpassed the $72,000 barrier to achieve a fresh All-time High. On the other hand, the ripple also boosted the altcoin for a prolonged recovery, including the Near Protocol coin. With a 17.24% intraday surge, the NEAR price breached the neckline resistance of the rounding bottom pattern, paving the way for a further recovery rally.

Near Protocol Price is getting closer to $10

NEAR Protocol (NEAR) is a decentralized application platform designed to offer high-speed transaction processing and low transaction fees. It distinguishes itself with its unique sharding technology, Nightshade, aiming to achieve scalability and usability without compromising security.  Meanwhile, NEAR, the native cryptocurrency of this ecosystem, has observed a robust rise since early February when the price rebounded from $2.68. The bullish upswing propelled the altcoin 157% within five weeks, currently trading at $6.6.

According to Coinglass data, the open interest value for NEAR Protocol has experienced a similar surge, leaping from $95.86 million to $296.5 million since February’s second week. Moreover, this marks a growth of about 209.3%, signaling a substantial boost in investor confidence and heightened interest in the cryptocurrency.

NEAR Price Analysis

An analysis of the daily time frame chart reveals the formation of a well-known bullish reversal pattern called the rounding bottom.

coinmarketcap

With an extended bullish candle, the NEAR coin price provides a conclusive breakout from the $6.12 neckline resistance of the rounding bottom pattern. This pattern is recognized by a gradual decline in prices followed by a period of stabilization and a gradual increase, indicating a slow and steady shift in market control from sellers to buyers, leading to a bullish market outlook. However, If the buyers manage to maintain this breakout, the Near protocol price should pursue the theoretical target of $11.2.

CEO Illia Polosukhin at Nvidia AI Conference

NEAR CEO Illia Polosukhin. source: outlieracademy

Layer-1 blockchain NEAR’s native token (NEAR) has nearly doubled since March 5 as the excitement surrounding Nvidia’s (NVDA) upcoming annual conference continues to propel AI-related tokens upward.

Near Protocol co-founder and CEO Illia Polosukhin will be on a panel at the conference titled “Transforming AI” and will be hosted by Nvidia’s founder and CEO Jensen Huang. His attendance and the imminent release of Near Tasks, an artificial intelligence (AI) facet of the business, has sparked discussions about whether NEAR will collaborate closely with Nvidia in the future. The company is the only crypto-related firm presenting at the main panel.

The post Near Protocol Price Eyes $10 Amid Surging Open Interest first appeared on The VR Soldier.

#gold vs #bitcoin which is a better investment?

Bitcoin’s price is finally showing signs of breaking the previous all-time high to the upside.

Cryptocurrency is entering uncharted territories, and predicting its upside potential becomes a lot more challenging. However, there are some hints interpreted from technical and on-chain analysis.

Technical Analysis

By TradingRage

The Daily Chart

On the daily timeframe, the price is finally breaking the previous all-time high to the upside, with the price climbing toward the $70K level.

The psychological resistance levels of $70K and $80K might be the upcoming targets for BTC in the coming months. Yet, the Relative Strength Index displays a clear overbought signal, which can point to a potential correction or consolidation in the short term.

Source: TradingView The 4-Hour Chart

Looking at the 4-hour timeframe, the recent consolidation becomes much more clear. The price is gradually climbing above the $69K resistance level, and a longer-term rally might soon begin.

Source: TradingView

Yet, the Relative Strength Index is also entering the overbought region in this timeframe, indicating that the road ahead might get bumpier for the BTC price. If it goes through a pullback, the $64K support level might be a potential turning point toward higher prices.

Sentiment Analysis

By TradingRage

Bitcoin Funding Rates

While Bitcoin’s price has been rallying aggressively after making a new all-time high, market sentiment is in a euphoric state. However, this extreme optimism might prove costly for BTC.

This chart demonstrates the funding rates metric, which measures whether the buyers or sellers are executing their orders more aggressively. Positive values indicate bullish sentiment, while negative values are associated with bearish sentiment.

It is evident that the funding rates have been displaying highly positive values recently. The metric is even showing values higher than those witnessed during the previous all-time high. As a result, the probability of a long liquidation cascade seems very high in the short term, which could lead to a pullback or reversal.

Source: CryptoQuant

The post Bitcoin Explodes 11% Weekly but the Chances of a Correction Increase: BTC Price Analysis appeared first on CryptoPotato.

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