The recent surge in Bitcoin (BTC) price over the last 24 hours can be attributed to several key factors:
1. **Increased Institutional Inflows**: Significant positive inflows into Bitcoin-focused investment products, particularly spot Bitcoin ETFs, have played a major role. For instance, ARK 21Shares' Bitcoin ETF saw substantial inflows, indicating growing institutional interest and confidence in Bitcoin as an investment asset.
2. **Short Liquidations**: A considerable amount of short positions were liquidated in the past 24 hours. This liquidation forced short sellers to buy back Bitcoin to cover their positions, driving up the price further.
3. **Market Sentiment and Technical Indicators**: Bitcoin broke through significant resistance levels, such as the 50-day and 200-day exponential moving averages, which has boosted bullish sentiment among traders. Additionally, various technical indicators like the RSI have shown bullish signals, suggesting the potential for continued upward movement.
4. **Anticipation of the Bitcoin Halving**: The upcoming Bitcoin halving event, which will reduce the reward for mining new Bitcoin, is creating expectations of a supply reduction, historically known to lead to price increases. This event has historically led to significant price rallies in the months following past halvings.
5. **Inflation Data and Interest Rate Speculation**: Recent inflation data showing a decrease has led to speculation that the Federal Reserve might hold interest rates steady or potentially cut them later in the year. This has improved the macroeconomic environment for risk assets like Bitcoin.
These factors combined have created a favorable environment for Bitcoin, leading to its recent price increase.
Predicting the price of Dogecoin (DOGE) for the near future involves considering various analyses and expert opinions, which can vary significantly due to the cryptocurrency market's inherent volatility.
For May 2024, Dogecoin is expected to have a price range between $0.137 and $0.152, with an average price around $0.144. This suggests a relatively stable month with modest fluctuations.
Looking further into 2024, some forecasts are more optimistic, with potential highs reaching up to $0.3751 if market conditions are favorable and external factors such as regulatory changes or influential endorsements play a positive role On the downside, Dogecoin could dip to around $0.10 under negative market pressures.
In the long term, projections for Dogecoin vary widely. By the end of 2025, some analyses predict a potential price range from $0.174 to $0.375, depending on market conditions and broader adoption.
By 2027, there's a possibility for Dogecoin to rise even further, with some estimates suggesting prices could range between $0.24 and $0.276.
Overall, while Dogecoin's future price remains speculative, its strong community support and potential for increased adoption and development could drive its value higher, despite the challenges of its unlimited supply and market volatility.
Recent news surrounding Nervos Network's CKB coin includes notable developments and price movements. A significant boost in interest occurred after Binance introduced zero-fee mining for CKB, leading to a 5% rise in open interest, indicating heightened engagement from both investors and miners
In terms of price performance, CKB has shown resilience, trading at approximately $0.01869 with a recent surge of 3.17% over the past week and 12.5% over the past month.
Forecasts suggest the coin might continue this trend, with short-term predictions estimating a price around $0.022 in the next three months, influenced by broader market trends and ongoing developments within the Nervos ecosystem.
Additionally, the long-term outlook remains cautiously optimistic, with predictions indicating potential growth to around $0.0272 within the next five years, contingent on factors such as market health, adoption rates, and regulatory changes.
For a deeper dive into these trends and forecasts, sources such as CoinDesk, CCN, and CoinCodex provide comprehensive analyses and updates.
The U.S. Securities and Exchange Commission (SEC) may be on the verge of approving Ether exchange-traded funds (ETFs), according to a Reuters report. Sources familiar with the process indicate that the SEC has requested exchanges like Nasdaq, CBOE, and NYSE to refine their applications for spot Ether ETFs. This development, which has driven Ether's price up significantly, comes as a surprise to an industry expecting rejection.
The SEC is anticipated to decide soon on applications submitted by VanEck and ARK Investments/21Shares. Although there was initially no communication on application specifics between the SEC, exchanges, and issuers, the regulator's recent engagement suggests a shift towards potential approval. However, final approval on the ETF registration statements is still required before trading can begin, potentially delaying the launch by several months.
This move marks a significant moment for the cryptocurrency industry, particularly given the SEC's previous reluctance due to market manipulation concerns, especially under the leadership of Gary Gensler. The recent Ether ETF applications followed the SEC's approval of ETFs tied to Ether futures in October. Despite expected rejections, last year's court-mandated approval of Bitcoin ETFs for Grayscale Investments has set a precedent, with significant investor interest in new Bitcoin funds.
The approval of Ether ETFs could represent a major regulatory milestone, potentially broadening investor access to Ethereum and bolstering the cryptocurrency market.
Many beginners make this mistake in cryptocurrency: following their desires, their impulses. However, this is the worst thing to do and the best way to lose your money. Your primal instinct is never good in investing. By following your brain, you'll want to buy when it's soaring because you'll be afraid of "missing out," and you'll want to sell when it's plummeting because you'll panic. This is how you'll end up in the worst possible situation because you'll constantly buy high and sell low.
You absolutely must detach yourself from your emotions and limit their impact on your investments: delete investment apps to deprive yourself of short-term transactions; you can reinstall them in a few months according to your investment goal. Also, buy crypto currencies that are less volatile, then don't touch anything. This will prevent you from becoming euphoric or, conversely, panicking and making mistakes. Also, place your sell orders in advance at certain prices. This will help you set your investment plan, and believe me, it will completely change your results. You just need to be calm and patient enough. If you apply all these tips scrupulously, believe me, your crypto journey will go very well, and you will make money without any problem. But you need to set yourself a real discipline, not just say you'll do it and end up doing nothing.
Investing is not a game; follow the advice of those who win and who know about it, and you will come out much better.
This publication reflects only my opinion.
Thank you for reading.
If you liked it, feel free to like, comment, share this post, and especially subscribe, it helps me a lot. You can also tip me to support me financially; it's my only way of being rewarded for teaching you as much as possible about the crypto market. Thank you very much to those who will do it.
95% of people who have tried trading Futures have lost their money. It's a very bad idea. Don't try trading when you're not a trader, and don't think you're a trader just because you've made money investing in cryptos. People study for years to become traders: it's not for nothing, and if it were so easy, believe me, Futures wouldn't exist, simply because crypto exchanges would lose their money.
If you've made money in Futures trading for a few days, well done to you. However, this does not mean you're a trader. Being a trader means having a consistent, reasonable return that you can manage in the long term. If you can be profitable for 6 months in the crypto market without losing a significant portion of your capital (no more than 20%), then you can consider yourself good at trading. Without that, there's no point in posting screenshots of your trading gains when in the following trades you burn all your capital.
The Futures market is there to make you lose, and leverage accelerates this. Market makers are paid to make you lose your money by pushing the market in the opposite direction, and you, with your few thousand dollars, think you can beat an institution that has hundreds of millions of dollars? You're dreaming.
If you want to get into trading, know that it's possible, and some people make money from it: but it's a very long process that takes several years. Practice trading on demo accounts, set yourself a trading plan, learn how markets work, and maybe in a few years, you'll be profitable in the long run. Before you've done that, don't even think about it. Forget about Futures if you're new to the crypto market.
Hoping that some will understand this and apply these tips.
This publication is my own opinion.
Thank you for reading.
If you liked it, don't hesitate to like, comment, share this post, and above all, subscribe, it helps me a lot. You can also tip me to support me financially, as it's my only way of being rewarded...