BitcoinDaily
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$BTC Bitcoin Records Best September in a Decade, What Will Happen in ‘Uptober’?
#BitcoinDaily #BTC☀️ #Binance!
September is often dubbed ‘Slumptember’ as Bitcoin and crypto assets have historically recorded losses during this month with the odd exception.
However, this September ended with the best performance, as noted by analyst Rekt Capital on Sept. 30.
He reported that BTC increased by 7.75% in September, beating its previous record of 6% in 2016. Moreover, eight of the previous 12 Septembers have resulted in losses for the asset, with 2014 being the greatest at 19%.
CoinGecko records a slightly larger gain over the month with BTC trading as low as $57,750 on Sept. 1 and ending the month at $63,830 for a 10% gain, however, timezones are likely to come into play with these figures.
The good news is that the month of October is historically bullish, with nine out of the past 11 posting positive performances for BTC. Additionally, the past five consecutive years have seen gains ranging from 5.5% to 40% during the month, and that includes bear market years. Only 2018 and 2014 saw losses in October for BTC.
Moreover, seven of the past 11 years have seen gains in November, although Decembers are usually mixed.
The analyst also observed that it was 163 days after the halving on Sept. 30. This is exactly the same number of days that it took BTC to break out from its reaccumulation range after the halving in 2020, he added.
CryptoQuant founder Ki Young Ju said that we were still in the middle of a bull cycle. This is despite this week’s market retreat and the ongoing range-bound price action. He explained that when market capitalization grows faster than realized capitalization, it may signal a bull market.
#BitcoinDaily #BTC☀️ #Binance!
September is often dubbed ‘Slumptember’ as Bitcoin and crypto assets have historically recorded losses during this month with the odd exception.
However, this September ended with the best performance, as noted by analyst Rekt Capital on Sept. 30.
He reported that BTC increased by 7.75% in September, beating its previous record of 6% in 2016. Moreover, eight of the previous 12 Septembers have resulted in losses for the asset, with 2014 being the greatest at 19%.
CoinGecko records a slightly larger gain over the month with BTC trading as low as $57,750 on Sept. 1 and ending the month at $63,830 for a 10% gain, however, timezones are likely to come into play with these figures.
The good news is that the month of October is historically bullish, with nine out of the past 11 posting positive performances for BTC. Additionally, the past five consecutive years have seen gains ranging from 5.5% to 40% during the month, and that includes bear market years. Only 2018 and 2014 saw losses in October for BTC.
Moreover, seven of the past 11 years have seen gains in November, although Decembers are usually mixed.
The analyst also observed that it was 163 days after the halving on Sept. 30. This is exactly the same number of days that it took BTC to break out from its reaccumulation range after the halving in 2020, he added.
CryptoQuant founder Ki Young Ju said that we were still in the middle of a bull cycle. This is despite this week’s market retreat and the ongoing range-bound price action. He explained that when market capitalization grows faster than realized capitalization, it may signal a bull market.
The Reason Bitcoin (BTC) Will Print US$73,000 in October 2024
The surge in demand for Bitcoin is mainly driven by spot ETF inflows. This could push the price towards $73,000 in October.
$BTC Open Interest has increased by 26% in the past month, a sign of increasing market activity and risk for long positions.
The bullish momentum is threatened with a 15% correction if sentiment shifts, potentially dragging Bitcoin prices down to US$54,302.
The surge in demand for Bitcoin via spot ETFs is a major sign of a potential rally above $70,000. Over the past week, inflows into these ETFs have continued to climb, totaling $1.11 billion.
#BitcoinDaily #TipsTradingFutures #marketdownturn
The surge in demand for Bitcoin is mainly driven by spot ETF inflows. This could push the price towards $73,000 in October.
$BTC Open Interest has increased by 26% in the past month, a sign of increasing market activity and risk for long positions.
The bullish momentum is threatened with a 15% correction if sentiment shifts, potentially dragging Bitcoin prices down to US$54,302.
The surge in demand for Bitcoin via spot ETFs is a major sign of a potential rally above $70,000. Over the past week, inflows into these ETFs have continued to climb, totaling $1.11 billion.
#BitcoinDaily #TipsTradingFutures #marketdownturn
Artificial Intelligence (AI) Dominates DApps Growth, Beats NFT and DeFi
Blockchainmedia - Amidst the ever-changing market, AI has managed to dominate the growth in the dApps industry. With the ability to continuously innovate and offer more sophisticated solutions, artificial intelligence has managed to steal the spotlight in this sector.
According to DappRadar, the third quarter of 2024 was a watershed moment for the dApps industry, with a dramatic increase in user activity. The number of daily active wallets (UAWs) jumped to 17.2 million, a 70 percent increase from the previous quarter.
However, what stole the most attention were AI-based dApps which recorded a remarkable growth of 71 percent, with an average of around 4.3 million daily users. This shows the growing interest in AI technology in the crypto world.
Some popular artificial intelligence dApps such as DIN and Alaya AI are leading this surge, with users increasingly engaging with AI-based solutions.
Unlike artificial intelligence, the NFT and DeFi sectors faced major challenges this quarter. NFT trading volume fell to its lowest point in 2024 at US$1.6 billion, a drastic 60 percent decline from the previous quarter.
The number of NFT sales also fell to 11.5 million, reflecting a significant market contraction in the past three months.
Meanwhile, the DeFi sector also experienced a significant decline in Total Value Locked (TVL), which fell by 5 percent to US$160 billion, followed by artificial intelligence.
Although Ethereum continues to dominate with a TVL of $95 billion, this number is down 20 percent from the second quarter. Despite the approval of an Ethereum ETF by the SEC, which is expected to boost the market, DeFi is still experiencing a decline.
This indicates increasing investor interest in alternative blockchain networks that offer innovative solutions and faster transaction speeds.
#TipsTradingFutures #Binance! #BitcoinDaily
Blockchainmedia - Amidst the ever-changing market, AI has managed to dominate the growth in the dApps industry. With the ability to continuously innovate and offer more sophisticated solutions, artificial intelligence has managed to steal the spotlight in this sector.
According to DappRadar, the third quarter of 2024 was a watershed moment for the dApps industry, with a dramatic increase in user activity. The number of daily active wallets (UAWs) jumped to 17.2 million, a 70 percent increase from the previous quarter.
However, what stole the most attention were AI-based dApps which recorded a remarkable growth of 71 percent, with an average of around 4.3 million daily users. This shows the growing interest in AI technology in the crypto world.
Some popular artificial intelligence dApps such as DIN and Alaya AI are leading this surge, with users increasingly engaging with AI-based solutions.
Unlike artificial intelligence, the NFT and DeFi sectors faced major challenges this quarter. NFT trading volume fell to its lowest point in 2024 at US$1.6 billion, a drastic 60 percent decline from the previous quarter.
The number of NFT sales also fell to 11.5 million, reflecting a significant market contraction in the past three months.
Meanwhile, the DeFi sector also experienced a significant decline in Total Value Locked (TVL), which fell by 5 percent to US$160 billion, followed by artificial intelligence.
Although Ethereum continues to dominate with a TVL of $95 billion, this number is down 20 percent from the second quarter. Despite the approval of an Ethereum ETF by the SEC, which is expected to boost the market, DeFi is still experiencing a decline.
This indicates increasing investor interest in alternative blockchain networks that offer innovative solutions and faster transaction speeds.
#TipsTradingFutures #Binance! #BitcoinDaily
Bitcoin Price Will Touch US$115,000? This is the Analysis!
Blockchainmedia - According to one of the leading crypto analysts, Cryptorphic, Bitcoin (BTC) is expected to reach a price of US$115,000 in the next few months.
While most investors hope to see BTC reach US$200,000 or more, he says a realistic target price for bitcoin is currently US$115,000.
In the analysis he expressed on the Tradingview site, he also revealed that if $BTC reaches that level, altcoins will benefit greatly.
“If BTC reaches US$115,000, altcoins could surge 20 times or even 50 times!” he stressed.
This can be seen clearly from the movement pattern of BTC over the last seven months, which continues to increase slowly. Whales, who are known as big investors, often use this pattern for accumulation.
For example, in the February 2024 candle, the liquidity between the highest price in January 2024 and the lowest price in March 2024 has been taken.
"Talking about indicators, currently the RSI is around 63.13, and in every bull run, it usually rises to 92, entering the overbought zone," he said.
Apart from that, he also reminded that a 10 to 20 percent price decline in altcoins is not something long-term investors need to fear.
Even though it is predicted to break US$115,000, other technical analysis shows that the price is currently trading slightly above the EMA-200D level, a critical level that can determine whether the price will continue to rise or undergo a correction.
With strong technical analysis and a continuing bullish trend, now is a great time to prepare for the next price spike in the cryptocurrency market.
#BitcoinDaily #Binance! #BTC☀
Blockchainmedia - According to one of the leading crypto analysts, Cryptorphic, Bitcoin (BTC) is expected to reach a price of US$115,000 in the next few months.
While most investors hope to see BTC reach US$200,000 or more, he says a realistic target price for bitcoin is currently US$115,000.
In the analysis he expressed on the Tradingview site, he also revealed that if $BTC reaches that level, altcoins will benefit greatly.
“If BTC reaches US$115,000, altcoins could surge 20 times or even 50 times!” he stressed.
This can be seen clearly from the movement pattern of BTC over the last seven months, which continues to increase slowly. Whales, who are known as big investors, often use this pattern for accumulation.
For example, in the February 2024 candle, the liquidity between the highest price in January 2024 and the lowest price in March 2024 has been taken.
"Talking about indicators, currently the RSI is around 63.13, and in every bull run, it usually rises to 92, entering the overbought zone," he said.
Apart from that, he also reminded that a 10 to 20 percent price decline in altcoins is not something long-term investors need to fear.
Even though it is predicted to break US$115,000, other technical analysis shows that the price is currently trading slightly above the EMA-200D level, a critical level that can determine whether the price will continue to rise or undergo a correction.
With strong technical analysis and a continuing bullish trend, now is a great time to prepare for the next price spike in the cryptocurrency market.
#BitcoinDaily #Binance! #BTC☀
Bitcoin Breakout Above $66,000 for Confirmation of Bull Run
Bitcoin $BTC jumped more than 6% on Monday, rising above resistance at $66,000. If sustained, Monday's breakout could kick off a much-anticipated bull run as analysts watch the cryptocurrency's behavior around this level.
Monday's breakout could trigger Bitcoin's next bull run.
Bitcoin's recent rally liquidated more than $100 million in short positions.
Currentlyy, BTC is trading around $67,038.07
increase +2.41% in last 24 H
Bitcoin crossed $67,000
How about $100,000 ?
#BitcoinDaily #TipsTradingFutures #CryptoExplorerFiesta
Bitcoin $BTC jumped more than 6% on Monday, rising above resistance at $66,000. If sustained, Monday's breakout could kick off a much-anticipated bull run as analysts watch the cryptocurrency's behavior around this level.
Monday's breakout could trigger Bitcoin's next bull run.
Bitcoin's recent rally liquidated more than $100 million in short positions.
Currentlyy, BTC is trading around $67,038.07
increase +2.41% in last 24 H
Bitcoin crossed $67,000
How about $100,000 ?
#BitcoinDaily #TipsTradingFutures #CryptoExplorerFiesta
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$BTC Experiencing Rejection in the Supply area, the possibility that will occur is a decline to the Demand area 62,400 - 61,700 #BitcoinDaily #BitcoinShortSignal #BTC☀
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SCR Token Officially Launched on Binance: Will There Be a Major Price Surge?
The recently launched SCR token on Binance has become the focus of the crypto community. As a layer 2 of Ethereum, SCR offers a solution for faster transactions and lower gas fees, which is very attractive to developers and DeFi users. With the support of Binance, one of the largest crypto exchanges, SCR adoption has the potential to increase drastically. However, the question that arises is: will there be a major movement in the price of SCR? Historically, successful layer 2 projects often experience significant increases, especially if they get the support of a solid Ethereum community. SCR has the advantage of solving Ethereum's scalability issues, which makes it a sought-after solution for many DApp developers. Some factors to consider are the trading volume on Binance and the overall crypto market sentiment. If SCR can attract enough attention in this early stage, it is possible that we will see a significant price surge in the near future. The Binance listing itself has given the token huge global exposure. However, it is also important to remember that high volatility is common in the early stages of a new token listing. Therefore, always do a thorough analysis before making an investment decision. Will SCR be a soaring crypto token? Let's see how the market responds in the next few weeks!
$BNB $SCR
#BinancePizzaVN #Launchpool #ScrollLayer2 #BitcoinDaily
The recently launched SCR token on Binance has become the focus of the crypto community. As a layer 2 of Ethereum, SCR offers a solution for faster transactions and lower gas fees, which is very attractive to developers and DeFi users. With the support of Binance, one of the largest crypto exchanges, SCR adoption has the potential to increase drastically. However, the question that arises is: will there be a major movement in the price of SCR? Historically, successful layer 2 projects often experience significant increases, especially if they get the support of a solid Ethereum community. SCR has the advantage of solving Ethereum's scalability issues, which makes it a sought-after solution for many DApp developers. Some factors to consider are the trading volume on Binance and the overall crypto market sentiment. If SCR can attract enough attention in this early stage, it is possible that we will see a significant price surge in the near future. The Binance listing itself has given the token huge global exposure. However, it is also important to remember that high volatility is common in the early stages of a new token listing. Therefore, always do a thorough analysis before making an investment decision. Will SCR be a soaring crypto token? Let's see how the market responds in the next few weeks!
$BNB $SCR
#BinancePizzaVN #Launchpool #ScrollLayer2 #BitcoinDaily
Did Uptober Fail to Meet Bitcoin Investors' Expectations?
Cryptodaily – Bitcoin $BTC price has fallen below US$60,000 for the first time since September 18. This decline has raised concerns among investors about the possibility of further declines, especially since October is usually a good month for Bitcoin.
Many are now wondering whether the continued price decline will soon recover.
The recent drop in Bitcoin prices has many traders predicting the next move. Reporting from cointelegraph.com, a crypto trader named Justin Bennet stated on October 10 that the first target at US$ 59,000 had been achieved, and then he issued the latest Bitcoin prediction towards US$ 57,000.
However, it is not clear whether the price will rise slightly first or go straight to that level. This decline occurred even though October is often referred to as Uptober, as Bitcoin prices usually rise during this month. However, data from Santiment shows that talk of Uptober has decreased since the beginning of this month.
In addition to Bitcoin, altcoins are also having difficulty moving up. According to Ki Young Ju, CEO of CryptoQuant, many altcoins actually have great potential to fall due to uncertainty about government regulations. These altcoin projects are still being careful and holding back from maximizing their income due to the unclear regulations that will come,
The impact of regulation on altcoins has been seen before. For example, in April, the price of Uniswap's token dropped after the project received a notice of legal action from US regulators.
Altcoin Market Still in 'Fear' Phase
Many analysts believe that the altcoin market is currently still in an 'accumulation' phase, meaning investors are buying crypto assets while waiting for future price increases.
#BitcoinDaily #marketdownturn #TipsTradingFutures
Cryptodaily – Bitcoin $BTC price has fallen below US$60,000 for the first time since September 18. This decline has raised concerns among investors about the possibility of further declines, especially since October is usually a good month for Bitcoin.
Many are now wondering whether the continued price decline will soon recover.
The recent drop in Bitcoin prices has many traders predicting the next move. Reporting from cointelegraph.com, a crypto trader named Justin Bennet stated on October 10 that the first target at US$ 59,000 had been achieved, and then he issued the latest Bitcoin prediction towards US$ 57,000.
However, it is not clear whether the price will rise slightly first or go straight to that level. This decline occurred even though October is often referred to as Uptober, as Bitcoin prices usually rise during this month. However, data from Santiment shows that talk of Uptober has decreased since the beginning of this month.
In addition to Bitcoin, altcoins are also having difficulty moving up. According to Ki Young Ju, CEO of CryptoQuant, many altcoins actually have great potential to fall due to uncertainty about government regulations. These altcoin projects are still being careful and holding back from maximizing their income due to the unclear regulations that will come,
The impact of regulation on altcoins has been seen before. For example, in April, the price of Uniswap's token dropped after the project received a notice of legal action from US regulators.
Altcoin Market Still in 'Fear' Phase
Many analysts believe that the altcoin market is currently still in an 'accumulation' phase, meaning investors are buying crypto assets while waiting for future price increases.
#BitcoinDaily #marketdownturn #TipsTradingFutures