Prominent crypto market analyst Ali Martinez has presented a compelling outlook for Dogecoin that suggests a significant price increase is the way forward. According to Martinez, the Bollinger Bands on Dogecoin's four-hour chart are currently under the most pressure since October 2023. This pattern usually indicates an imminent increase in price volatility.
If Martinez's analysis is correct, Dogecoin enthusiasts can prepare for increased volatility. Dogecoin's current price is $0.078, which has maintained a remarkably stable position with over 7.4% volatility since the beginning of the last week of January. The impending increase in volatility adds an element of suspense to the Dogecoin market, with traders eagerly anticipating the potential for significant price swings. Whether Dogecoin will experience a boom or bust remains an open question, adding an air of excitement and uncertainty. 💰#sanor016CommUNITY @Binance_Customer_Support
On January 23, Bitcoin hit a two-month low of $38,000. Another sign of Bitcoin's decline was that Bitcoin miners were being paid "very little". This may have led to increased selling pressure from miners as they unleashed their biggest selling wave since May 2023 a few days ago.
In addition, short holders' unrealized margin fell to 0 percent, and they sold their holdings at a loss for the first time since October. However, CryptoQuant believes that a price rally could happen soon as the unrealized profit margin reaches zero, a benchmark for Bitcoin to resume its ascent. 💸#sanor016CommUNITY 💰@sanor016
In a post on X, Bitwise CEO Matt Hogan notes that bitcoin ETFs attracted $1.7 billion in the first 14 trading days, compared to $1.3 billion for gold ETFs. This trend may reflect a shift in investor preferences, with some seeing Bitcoin as a digital alternative to traditional safe-haven assets. It's worth noting that Bitcoin ETFs were launched when gold established itself as a store of value asset for the better part of human history.
This rapid change is significant, and data from CoinMarketCap shows that in the years since its launch, Bitcoin has grown to a market capitalization of more than $840 billion. Bitcoin Treasury data shows that some public companies such as MicroStrategy, Tesla, and Square hold millions and billions of dollars in Bitcoin. 💸#sanor016CommUNITY 💰 @Binance_Customer_Support
73% of Europeans are confident in the future of crypto
The vast majority of European residents have expressed optimism and confidence about the future of the digital currency sector. According to a survey by Binance, the world's largest crypto exchange surveyed 10,498 people from selected countries between October 14 and November 8, 2023, targeting users in France, Italy, Spain, and Sweden, and about 73 percent of respondents were concerned about the future of assets. Digital are positive
While 73 percent of respondents expressed optimism about the future of digital currencies, 55 percent said they interact exclusively with digital assets. This indicates a positive outlook in the growth and adoption of cryptographic and blockchain technology and sustainable confidence in the market. About 24% of respondents also indicated that more than half of their total business activities involve cryptography. 🚀🚀💸💸#sanor016CommUNITY 📈@Binance_France
Anthony Scaramucci - founder of SkyBridge Capital - predicts that the next bitcoin halving will bring its price to $170,000. His latest estimate is based on Bitcoin's consistent record of hitting new highs since the halving. According to Yahoo Finance, Bitcoin's last halving was on May 11, 2020, when Bitcoin closed at $9,670. Exactly 18 months later, it reached its current high of $69,000. Before that, Bitcoin closed at $656 on July 16, 2016, before reaching $19,783 in December 2017. 💸🚀#BTC #sanor016CommUNIT @Binance_Customer_Support
More than $100 million was liquidated after Bitcoin approached $44,000
After days of trading at around $42,000, Bitcoin finally turned aggressive and reached $44,000 a few hours ago. Its latest push resulted in more than $110 million in liquid over the past 24 hours, with short positions accounting for $76 million of the total. Liquid Bitcoin accounted for $40 million of that amount, while Ethereum (which breached the $2,300 mark) was next with almost $25 million. Other altcoins, such as Solana and Cardano, are also on the rise, up 6% and 8%, respectively.The total value of the cryptocurrency market increased to nearly $1.75 trillion, while Bitcoin's dominance of altcoins remains at around 52.5%. 📈 #BTC #sanor016CommUNITY
Criticism of the CEO of Ripple for the publication of the report about the recent hack
Criticizing speculation and irresponsible reporting regarding the recent hack, Ripple CEO Brad Garlinghouse stated that none of the wallets managed by Ripple were compromised. These comments came after Ripple co-founder Chris Larsen confirmed that his personal wallets were hacked and stolen. Larsen emphasized that the incident was unrelated to Ripple wallets, adding that a significant portion of the stolen funds had been frozen. Last night, ZXBT announced the theft of about 113 million dollars from Ripple by publishing a report.