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where you think $BTC price will be at end of the week? 👀🚀
#BTC #Satoshi #BitcoinPrice2024 #BitcoinPricePredictions
#BTC #Satoshi #BitcoinPrice2024 #BitcoinPricePredictions
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Cointelegraph
--
Price Analysis 2/2: BTC, ETH, BNB, SOL, XRP, ADA, AVAX, DOGE, DOT, LINK
The launch of Bitcoin (BTC) exchange-traded funds (ETFs) in January failed to boost prices as traders focused on the outflows from the Grayscale Bitcoin Trust (GBTC), ignoring the net inflows into the remaining ETFs. This shows that the traders sought to sell the news and book profits on their positions.
However, a positive sign is that Bitcoin did not stay below the $40,000 level for long. This indicates that lower levels continue to attract investors. Buying on dips and selling on rallies may keep Bitcoin inside a range for a few days. The next major catalyst for Bitcoin is the halving in April.
Daily cryptocurrency market performance. Source: Coin360
Another positive in favor of the bulls is that Bitcoin has produced an average monthly gain of about 12% in February, according to CoinGlass data. Since 2013, Bitcoin has ended February with a negative monthly return only in 2014 and 2020.
Could Bitcoin repeat its strong historical performance in February? Will altcoins follow Bitcoin higher? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin has been trading between the 20-day exponential moving average ($42,365) and the overhead resistance of $44,700 for the past few days.
BTC/USDT daily chart. Source: TradingView
The 20-day EMA has started to turn up gradually, and the RSI has risen into the positive territory, indicating a minor advantage to buyers. If bulls overcome the barrier at $44,700, the BTC/USDT pair could attempt a rally to $49,000. The bears are expected to defend this level aggressively.
If the price turns down and plunges below the 20-day EMA, it will indicate that bears are trying to take charge. The selling could pick up on a slump below $41,394. The pair may then descend to $40,000 and later to $37,980.
Ether price analysis
Ether (ETH) remains stuck inside the $2,100 to $2,400 range, but the bulls have not given up and are trying to kick the price above the overhead resistance.
ETH/USDT daily chart. Source: TradingView
A close above $2,400 will be the first sign of strength. That could attract further buying, pushing the ETH/USDT pair toward $2,700. If the price turns down from $2,700 but rebounds off $2,400, it will indicate that the sentiment has turned positive. That will enhance the prospects of a rally to $3,000.
On the contrary, if the price turns down sharply from the current level or $2,400, it will indicate that the pair may spend some more time inside the range. The bears will be at an advantage if the price dives below $2,100.
BNB price analysis
BNB (BNB) slipped below the 20-day EMA ($304) on Jan. 31, but the bears could not break the 50-day SMA ($297) support.
BNB/USDT daily chart. Source: TradingView
The 20-day EMA has flattened out, and the RSI is near the midpoint, signaling a balance between supply and demand. A break above the downtrend line will tilt the balance in favor of the buyers. There is a minor resistance at $322, but if crossed, the BNB/USDT pair may soar to $338.
Contrarily, if the price turns lower from the downtrend line, it will indicate that the sentiment remains negative and the bears are selling on rallies. That increases the risk of a break below $288.
Solana price analysis
Solana (SOL) turned down from the overhead resistance at $107 on Jan. 30 but rebounded off the moving averages on Feb. 1.
SOL/USDT daily chart. Source: TradingView
The bulls will try to drive the price above $107. If they can pull it off, the SOL/USDT pair will complete an inverse head-and-shoulders pattern. That may start an up move to $126, which is a strong hurdle, but if the bulls prevail, the next stop could be the pattern target of $134.
If bears want to prevent the upward move, they will have to quickly tug the price below the moving averages. The pair could drop to $80, which is likely to act as a strong support.
XRP price analysis
Sellers yanked XRP (XRP) below the $0.50 support on Jan. 31, but the long tail on the candlestick shows buying at lower levels.
XRP/USDT daily chart. Source: TradingView
A break above the $0.51 resistance could clear the path for a rally to the 20-day EMA ($0.53). The bears are expected to defend this level with vigor. If the price turns down from the 20-day EMA, the XRP/USDT pair could plunge to $0.46.
The first sign of strength will be a break and close above the 20-day EMA. The pair may then travel to the downtrend line. Buyers will have to overcome this obstacle to start a new up move to $0.67.
Cardano price analysis
Cardano (ADA) has been trading inside a descending channel pattern for several days, indicating that the bears continue selling on rallies.
ADA/USDT daily chart. Source: TradingView
The flattish 20-day EMA ($0.51) and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price maintains above the 20-day EMA, the bulls will try to push the ADA/USDT pair to the downtrend line. A break and close above this level will suggest that the short-term downtrend may be over.
The critical level to watch on the downside is $0.46, and then the support line of the channel near $0.40.
Avalanche price analysis
Avalanche (AVAX) plunged below the 20-day EMA ($34.29) on Jan. 31, but the bears could not build upon this strength.
AVAX/USDT daily chart. Source: TradingView
The price climbed above the 20-day EMA on Feb. 2, indicating that lower levels are attracting buyers. This increases the likelihood of a break above the channel’s downtrend line. If that happens, the AVAX/USDT pair could start an up move to $44 and subsequently to the crucial resistance at $50.
This positive view will be invalidated in the near term if the price reverses direction from the downtrend line and breaks below $32. That will set the stage for a decline to the support line of the channel.
Related: Bitcoin price drops 1.3% in an hour as US payrolls smash estimates
Dogecoin price analysis
Dogecoin (DOGE) has been trading below the 20-day EMA ($0.08) for the past few days, but the bears have not been able to challenge the $0.07 support. This suggests that selling dries up at lower levels.
DOGE/USDT daily chart. Source: TradingView
Buyers will try to push the price above the 20-day EMA and gain the upper hand in the near term. If they succeed, the DOGE/USDT pair could rally to the downtrend line. This remains the key level to watch out for, as the bears have successfully defended the level for many days.
If the price turns down from the downtrend line, it will indicate that the bears have not given up. The pair may then slide to the $0.07 support. On the other hand, a break above the downtrend line will signal a potential trend change. The pair may then rise to the $0.10 to $0.11 resistance zone.
Polkadot price analysis
The bears pulled Polkadot (DOT) below the neckline of the H&S pattern on Jan. 31, but they could not sustain the lower levels.
DOT/USDT daily chart. Source: TradingView
Solid buying by the bulls pushed the price to the 20-day EMA ($6.92) on Feb. 2. A break and close above the 50-day SMA ($7.44) will indicate that the bears are losing their grip. That could open the doors for a rally to $8.50.
Contrary to this assumption, if the price turns down from the moving averages, it will signal that the bears remain active at higher levels. The DOT/USDT pair may consolidate between the 50-day SMA and $6 for a few days.
Chainlink price analysis
Chainlink’s (LINK) range-bound action resolved to the upside with a breakout above $17.32 on Feb. 2, suggesting that the buyers have overpowered the sellers.
LINK/USDT daily chart. Source: TradingView
However, the bears are unlikely to give up easily and will try to pull the price back below the breakout level. If they manage to do that, several aggressive bulls may get trapped. That may result in a fall to the 20-day EMA ($15.38).
Instead, if buyers maintain the price above $17.32, it will suggest a valid breakout. The $17.32 level may then act as a launchpad, propelling the LINK/USDT pair toward the target objective of $21.79.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
However, a positive sign is that Bitcoin did not stay below the $40,000 level for long. This indicates that lower levels continue to attract investors. Buying on dips and selling on rallies may keep Bitcoin inside a range for a few days. The next major catalyst for Bitcoin is the halving in April.
Daily cryptocurrency market performance. Source: Coin360
Another positive in favor of the bulls is that Bitcoin has produced an average monthly gain of about 12% in February, according to CoinGlass data. Since 2013, Bitcoin has ended February with a negative monthly return only in 2014 and 2020.
Could Bitcoin repeat its strong historical performance in February? Will altcoins follow Bitcoin higher? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin has been trading between the 20-day exponential moving average ($42,365) and the overhead resistance of $44,700 for the past few days.
BTC/USDT daily chart. Source: TradingView
The 20-day EMA has started to turn up gradually, and the RSI has risen into the positive territory, indicating a minor advantage to buyers. If bulls overcome the barrier at $44,700, the BTC/USDT pair could attempt a rally to $49,000. The bears are expected to defend this level aggressively.
If the price turns down and plunges below the 20-day EMA, it will indicate that bears are trying to take charge. The selling could pick up on a slump below $41,394. The pair may then descend to $40,000 and later to $37,980.
Ether price analysis
Ether (ETH) remains stuck inside the $2,100 to $2,400 range, but the bulls have not given up and are trying to kick the price above the overhead resistance.
ETH/USDT daily chart. Source: TradingView
A close above $2,400 will be the first sign of strength. That could attract further buying, pushing the ETH/USDT pair toward $2,700. If the price turns down from $2,700 but rebounds off $2,400, it will indicate that the sentiment has turned positive. That will enhance the prospects of a rally to $3,000.
On the contrary, if the price turns down sharply from the current level or $2,400, it will indicate that the pair may spend some more time inside the range. The bears will be at an advantage if the price dives below $2,100.
BNB price analysis
BNB (BNB) slipped below the 20-day EMA ($304) on Jan. 31, but the bears could not break the 50-day SMA ($297) support.
BNB/USDT daily chart. Source: TradingView
The 20-day EMA has flattened out, and the RSI is near the midpoint, signaling a balance between supply and demand. A break above the downtrend line will tilt the balance in favor of the buyers. There is a minor resistance at $322, but if crossed, the BNB/USDT pair may soar to $338.
Contrarily, if the price turns lower from the downtrend line, it will indicate that the sentiment remains negative and the bears are selling on rallies. That increases the risk of a break below $288.
Solana price analysis
Solana (SOL) turned down from the overhead resistance at $107 on Jan. 30 but rebounded off the moving averages on Feb. 1.
SOL/USDT daily chart. Source: TradingView
The bulls will try to drive the price above $107. If they can pull it off, the SOL/USDT pair will complete an inverse head-and-shoulders pattern. That may start an up move to $126, which is a strong hurdle, but if the bulls prevail, the next stop could be the pattern target of $134.
If bears want to prevent the upward move, they will have to quickly tug the price below the moving averages. The pair could drop to $80, which is likely to act as a strong support.
XRP price analysis
Sellers yanked XRP (XRP) below the $0.50 support on Jan. 31, but the long tail on the candlestick shows buying at lower levels.
XRP/USDT daily chart. Source: TradingView
A break above the $0.51 resistance could clear the path for a rally to the 20-day EMA ($0.53). The bears are expected to defend this level with vigor. If the price turns down from the 20-day EMA, the XRP/USDT pair could plunge to $0.46.
The first sign of strength will be a break and close above the 20-day EMA. The pair may then travel to the downtrend line. Buyers will have to overcome this obstacle to start a new up move to $0.67.
Cardano price analysis
Cardano (ADA) has been trading inside a descending channel pattern for several days, indicating that the bears continue selling on rallies.
ADA/USDT daily chart. Source: TradingView
The flattish 20-day EMA ($0.51) and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price maintains above the 20-day EMA, the bulls will try to push the ADA/USDT pair to the downtrend line. A break and close above this level will suggest that the short-term downtrend may be over.
The critical level to watch on the downside is $0.46, and then the support line of the channel near $0.40.
Avalanche price analysis
Avalanche (AVAX) plunged below the 20-day EMA ($34.29) on Jan. 31, but the bears could not build upon this strength.
AVAX/USDT daily chart. Source: TradingView
The price climbed above the 20-day EMA on Feb. 2, indicating that lower levels are attracting buyers. This increases the likelihood of a break above the channel’s downtrend line. If that happens, the AVAX/USDT pair could start an up move to $44 and subsequently to the crucial resistance at $50.
This positive view will be invalidated in the near term if the price reverses direction from the downtrend line and breaks below $32. That will set the stage for a decline to the support line of the channel.
Related: Bitcoin price drops 1.3% in an hour as US payrolls smash estimates
Dogecoin price analysis
Dogecoin (DOGE) has been trading below the 20-day EMA ($0.08) for the past few days, but the bears have not been able to challenge the $0.07 support. This suggests that selling dries up at lower levels.
DOGE/USDT daily chart. Source: TradingView
Buyers will try to push the price above the 20-day EMA and gain the upper hand in the near term. If they succeed, the DOGE/USDT pair could rally to the downtrend line. This remains the key level to watch out for, as the bears have successfully defended the level for many days.
If the price turns down from the downtrend line, it will indicate that the bears have not given up. The pair may then slide to the $0.07 support. On the other hand, a break above the downtrend line will signal a potential trend change. The pair may then rise to the $0.10 to $0.11 resistance zone.
Polkadot price analysis
The bears pulled Polkadot (DOT) below the neckline of the H&S pattern on Jan. 31, but they could not sustain the lower levels.
DOT/USDT daily chart. Source: TradingView
Solid buying by the bulls pushed the price to the 20-day EMA ($6.92) on Feb. 2. A break and close above the 50-day SMA ($7.44) will indicate that the bears are losing their grip. That could open the doors for a rally to $8.50.
Contrary to this assumption, if the price turns down from the moving averages, it will signal that the bears remain active at higher levels. The DOT/USDT pair may consolidate between the 50-day SMA and $6 for a few days.
Chainlink price analysis
Chainlink’s (LINK) range-bound action resolved to the upside with a breakout above $17.32 on Feb. 2, suggesting that the buyers have overpowered the sellers.
LINK/USDT daily chart. Source: TradingView
However, the bears are unlikely to give up easily and will try to pull the price back below the breakout level. If they manage to do that, several aggressive bulls may get trapped. That may result in a fall to the 20-day EMA ($15.38).
Instead, if buyers maintain the price above $17.32, it will suggest a valid breakout. The $17.32 level may then act as a launchpad, propelling the LINK/USDT pair toward the target objective of $21.79.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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LIVEX mucaN
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Bullish
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Go and Participate in Smart Layer Airdrop
We saw from our post yesterday, how a user was able to earn over $50,000 from $ALT Airdrop.
What if Smart Layer gives out double of that ?
What if ?
This was the Same thing that happened with $ARKM ,when they did their Airdrop last year , a lot of people received over $5000 and the max we saw was $33,000.
Right now on Smart Layer we are being asked to connect our wallet address.
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What's your prediction on $MANTA price for next 3 days?
will stay around 2.3-2.8
0%
will rise to 3.5 or above !!
0%
will drop low... :(
0%
0 votes • Voting closed
nice!!
LIVECryptoo Man
--
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What is Bitcoin Halving?
I realized that most people do not know about Bitcoin Halving. That's why I want to give you information about Bitcoin Halving.
🟰The reason for halving is that Bitcoin has a finite supply of 21 million coins.
If new coins were created at the same rate forever, Bitcoin would eventually become inflationary, like fiat currencies.
🟰The first Bitcoin halving occurred in 2012, when the block reward went from 50 BTC to 25 BTC.
The second halving occurred in 2016, when the reward went from 25 BTC to 12.5 BTC.
The third halving occurred in 2020, when the reward went from 12.5 BTC to 6.25 BTC.
🕑SO WHEN IS THE NEXT HALVING?🕟
The fourth halving is expected to occur in 2024.
Some believe that halving can cause BTC prices to rise,as it reduces the supply of new coins.
Others believe that halving can have a negative impact on prices, as it increases the cost of mining BTC
🔔HERE ARE SOME OF THE POTENTIAL BENEFITS OF HALVING:📢
- It helps to control inflation by reducing the supply of new Bitcoin.
- It can encourage innovation in mining technology, as miners need to find more efficient ways to mine Bitcoin.
🔔HERE ARE SOME OF THE POTENTIAL RISKS OF HALVING:🔔
- It can make Bitcoin mining less profitable, which could lead to a decrease in the number of miners.
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I realized that most people do not know about Bitcoin Halving. That's why I want to give you information about Bitcoin Halving.
🟰The reason for halving is that Bitcoin has a finite supply of 21 million coins.
If new coins were created at the same rate forever, Bitcoin would eventually become inflationary, like fiat currencies.
🟰The first Bitcoin halving occurred in 2012, when the block reward went from 50 BTC to 25 BTC.
The second halving occurred in 2016, when the reward went from 25 BTC to 12.5 BTC.
The third halving occurred in 2020, when the reward went from 12.5 BTC to 6.25 BTC.
🕑SO WHEN IS THE NEXT HALVING?🕟
The fourth halving is expected to occur in 2024.
Some believe that halving can cause BTC prices to rise,as it reduces the supply of new coins.
Others believe that halving can have a negative impact on prices, as it increases the cost of mining BTC
🔔HERE ARE SOME OF THE POTENTIAL BENEFITS OF HALVING:📢
- It helps to control inflation by reducing the supply of new Bitcoin.
- It can encourage innovation in mining technology, as miners need to find more efficient ways to mine Bitcoin.
🔔HERE ARE SOME OF THE POTENTIAL RISKS OF HALVING:🔔
- It can make Bitcoin mining less profitable, which could lead to a decrease in the number of miners.
- It could lead to increased competition among miners, which could make it more difficult to mine Bitcoin.
___________________
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SnekCoin Saga (HISS)🤑🤑
Total Reward: 1,000,000 HISS
Winners: Top 200
Distribution: 19th January
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5🔹Top 200 winners will share 1,000,000 HISS reward pool
Airdrop will end on 12th January and rewards will be distributed to the winners wallet on 19th January.
Please do your own research (DYOR) before joining to any airdrops project, also airdrop is 100% free.
Total Reward: 1,000,000 HISS
Winners: Top 200
Distribution: 19th January
✅ COMPLETE THESE TASKS 👇
1🔹️CLICK HERE AND VOTE FOR ME ❤
2🔹Complete the tasks AND FOLLOW
3🔹Submit your wallet address
4🔹Submit other details
5🔹Top 200 winners will share 1,000,000 HISS reward pool
Airdrop will end on 12th January and rewards will be distributed to the winners wallet on 19th January.
Please do your own research (DYOR) before joining to any airdrops project, also airdrop is 100% free.
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Here Is The List Of Best Crypto To Invest in 2024 💥🔥🚀
Cryptocurrencies have cemented themselves as a revolutionary new asset class, offering investors the chance to be part of the future of finance. As we enter 2024, the crypto landscape has evolved dramatically from the early days of Bitcoin.There are now thousands of cryptocurrencies, each trying to solve unique problems and capture value in our increasingly digital world.This extensive guide explores the top cryptocurrencies leading the pack going into 2024. These digital assets show strong potential for real-world adoption, have solid development teams behind them, and are spearheading innovation in blockchain technology.• Bitcoin (BTC) – Digital gold and the leading global cryptocurrency• Ethereum (ETH) – The preeminent programmable blockchain for decentralized applications• Solana (SOL) – High-performance blockchain focused on scalability• Polkadot (DOT) – Next-gen multi-chain protocol for cross-blockchain transfers• Cardano (ADA) – Academic research-driven blockchain optimized for sustainability• Polygon (MATIC) – Scalability solution for building Ethereum-compatible chains• Uniswap (UNI) – The most popular decentralized crypto exchange protocol• Chainlink (LINK) – Decentralized blockchain oracle network for external data sourcing• Decentraland (MANA) – 3D virtual reality platform powered by Ethereum and crypto• Hedera Hashgraph (HBAR) – Enterprise-grade public ledger designed for performanceThis list captures established leading protocols like Bitcoin and Ethereum and younger networks like Solana and Polygon making waves. Spanning decentralized finance (DeFi), decentralized apps, crypto infrastructure plays, metaverse projects, and more—these top cryptocurrencies represent diverse sectors driving innovation.Bitcoin (BTC) – The Flagship CryptocurrencyBitcoin market cap: $380 billionInvestment thesis: Bitcoin is digital gold—a scarce digital asset with uncorrelated returns for diversification. The leading cryptocurrency with the longest track record and widespread familiarity/trust. Functions as a store of value, inflation hedge, and wealth preservation tool. Higher return potential than gold with a harder supply cap (fixed at 21 million BTC).Ethereum (ETH) – The Leading Programmable BlockchainEthereum market cap: $190 billionInvestment thesis: Ethereum is the leading programmable blockchain—hundreds of decentralized applications across DeFi, NFTs, games, and more are built on top of it. The network effects are immense, with Ethereum dominating developer activity, Total Value Locked (TVL), and end-user applications.Solana (SOL) – The High-Performance BlockchainSolana market cap: $11 billionInvestment thesis: Solana prioritizes scalability and rapid innovation—offering DeFi and dApp developers a high-speed platform with low transaction costs. Ethereum congestion and gas fees often make solutions economically unviable, and Solana offers a user-friendly alternative.Polkadot (DOT) – The Interoperable MultichainPolkadot market cap: $5.5 billionInvestment thesis: Polkadot is a multifaceted blockchain connecting private/consortium chains, public networks, and oracles and enabling cross-chain transfers. The interoperability focus allows external chains to integrate easily with Polkadot while benefiting from shared security.Cardano (ADA) – The Sustainability-Focused BlockchainCardano market cap: $13.5 billionInvestment thesis: Cardano emphasizes research-driven engineering for maximum security, scalability, and long-term sustainability. An evidence-based approach ensures systematic improvements rather than reactionary problem-solving—giving Cardano the stability needed for large-scale adoption.Polygon (MATIC) – Scaling Ethereum TodayPolygon market cap: $8 billionInvestment thesis: Polygon provides an Ethereum scaling platform to build apps with low fees and fast transactions by leveraging Layer 2 sidechains. Instead of betting on uncertain Ethereum upgrades, Polygon offers a working scalability solution.Uniswap (UNI) – The Leading Decentralized ExchangeUniswap market cap: $5.8 billionInvestment thesis: Uniswap pioneered decentralized trading protocols and still leads the industry, providing liquidity for thousands of Ethereum token pairs. As DeFi adoption grows, decentralized exchanges like Uniswap will capture more trading volume from legacy platforms.Chainlink (LINK) – The Blockchain Oracle GiantChainlink market cap: $3.2 billionInvestment thesis: Chainlink has established itself as the industry-standard blockchain oracle solution for getting real-world data onto smart contract networks. With the shift towards a multi-chain future rather than winner-takes-all, Chainlink provides the connectivity layer between off-chain and on-chain worlds.Decentraland (MANA) – The Leading Metaverse CryptocurrencyDecentraland market cap: $1.2 billionInvestment thesis: Decentraland is the largest open metaverse platform where users can create scenes, play games, transact virtual assets, and more through customizable 3D avatars. With Microsoft, Adidas, and Atari buying virtual land, Decentraland is a bet on blockchain-powered digital worlds taking off.Hedera Hashgraph (HBAR) – The Enterprise-Facing BlockchainHedera Hashgraph market cap: $2 billionInvestment thesis: Hedera Hashgraph offers blazing fast performance and robust security while enabling enterprise needs like compliance, low transaction fees, and council node validation.With major corporations like Boeing, IBM, and LG already building on Hedera, it's a future-focused enterprise blockchain.Despite ongoing market volatility, the long term growth trajectory for cryptocurrencies and blockchain technology remains explosively positive. As crypto penetrates mainstream channels in the 2020s, decentralized networks will radically transform finance, technology, governance, and the internet.The top cryptocurrencies highlighted in this guide appear primed to capture tremendous value within their niches by serving user needs better than existing solutions constrained by legacy inefficiencies. Our methodology considered all dimensions influencing an asset’s likelihood of prosperity in 2024 and beyond.While risk factors always exist with early stage innovation, the projects covered have clear use cases, ample funding, strong teams, building user adoption, and communities rallying behind their visions.Monitoring their advancement promises to be an exciting ride towards mainstream adoption.CLAIM BEFORE IT ENDS👇🚨 RED PACKET CODE 👉 BPAT2N1QJ9 👈CLAIM NOW 🚨
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LIVEBitHero
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$SEI Top #Launchpool Token in Binance 2023🚀
Historical Price / Volume
Jan 01, 2024 📊 $ 0.66 / $ 679.67M
Dec 01, 2023 📊 $ 0.59 / $ 10.65B
Nov 01, 2023 📊 $ 0.29 / $ 5.68B
Oct 01, 2023 📊 $ 0.12 / $ 910.16M
Sep 01, 2023 📊 $ 0.14 / $ 1.72B
🚀Fuel our creativity with your support.❤️ Thank you for being a star! 🌟
Historical Price / Volume
Jan 01, 2024 📊 $ 0.66 / $ 679.67M
Dec 01, 2023 📊 $ 0.59 / $ 10.65B
Nov 01, 2023 📊 $ 0.29 / $ 5.68B
Oct 01, 2023 📊 $ 0.12 / $ 910.16M
Sep 01, 2023 📊 $ 0.14 / $ 1.72B
🚀Fuel our creativity with your support.❤️ Thank you for being a star! 🌟
See original
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LIVECointelegraph
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5 Data Points Suggest a Crypto Bull Market Began in 2023 — What’s Next for 2024
Increasing optimism for the approval of a spot Bitcoin ETF, the upcoming BTC halving and positive market sentiment suggest that a crypto bull market started in 2023.
While 2023 started with little hope of a revival in the crypto market, the events of the year have surprised most market participants with a surge in the price of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and many other altcoins.
The period of high volatility in the crypto market appears to be gathering momentum with a bull run expected in 2024.
The global crypto market cap is $1.69 trillion, up 112% over the last 12 months. The increase has been accompanied by 154% and 93% leaps in the prices of Bitcoin and Ether respectively.
The increase has been particularly striking in some altcoins such as Solana and Avalanche (AVAX) which have increased by 880% and 250% respectively over the same period.
The primary factors promoting the spike in crypto prices are rising hopes of a spot Bitcoin exchange-traded fund (ETF) being approved, the successful Shanghai upgrade for the Etheruem network, and the Bitcoin halving event which is less than 180 days away.
Increasing odds of a spot Bitcoin ETF approval
The conversation surrounding Bitcoin ETFs in the United States continues to gain momentum.
According to Bloomberg’s ETF analysis, the chances of a spot BTC ETF approval by Jan. 10 - which is the United States Securities and Exchange Commission’s final statutory deadline for a decision on some of the applications - is 90%.
Okay, we're nearing in on deadline dates for 3 spot #Bitcoin ETF applications. I want to get ahead of it because there's a pretty good chance we'll see delay orders from the SEC. Delays WOULD NOT change anything about our views & 90% odds for 19b-4 approval by Jan 10, 2024 pic.twitter.com/LE7sOlHAHM
— James Seyffart (@JSeyff) November 14, 2023
If approved, such an ETF could attract more institutional investors into the space and positively impact not only BTC but also the prices of other cryptocurrencies.
A spot Bitcoin ETF approval could be the biggest development on Wall Street in three decades, according to Bitcoin advocate Michael Saylor.
The $BTC Spot ETF may be the biggest development on Wall Street in the last 30 years. My discussion of #Bitcoin in 2024, Spot ETFs vs. $MSTR, and the emergence of bitcoin as a treasury reserve asset with @KaileyLeinz on Bloomberg @Crypto. pic.twitter.com/QtPdBOhMDr
— Michael Saylor⚡️ (@saylor) December 19, 2023
All cohorts of investors have been accumulating Bitcoin
Significant Bitcoin stakeholders are showing confidence in BTC by increasing their holdings. On-chain data from Glassnode have revealed a trend reversal, wherein long-term holders remain bullish on the prospects of a Bitcoin bull run and as a result they continue to add to their holdings.
The Bitcoin hodlers' balance is an excellent indicator for measuring market cycles. Currently, long-term holders are still accumulating, as they did in previous pre-bull markets.https://t.co/qWhryCeM0D pic.twitter.com/fREwfFJziD
— IntoTheBlock (@intotheblock) December 27, 2023
Tracking long-term holders’ balances has been a strong indicator of local price tops and bottoms. In every market cycle, there has been a clear accumulation of holders until a local price peak emerges and holders begin to sell in large volumes to realize gains.
More importantly, Bitcoin “whales,” or entities with at least 1,000 BTC, are showing signs of accumulation, which has historically preceded big rallies.
According to a report released by the blockchain intelligence platform Glassnode on Nov. 27, Bitcoin’s Accumulation Trend Score is currently 1 (chart below), indicating that on aggregate, larger whale entities, which are a big part of the network, are accumulating.
Bitcoin: Point-in-time accumulation trend score. Source: Glassnode
One of the renowned whales, business intelligence firm MicroStrategy, continues to add to its Bitcoin holdings after buying an additional 14,620 BTC at an average price of $42,110 percoin, bringing its total holdings to 189,150 Bitcoin.
#Microstrategy's latest purchase of $615M in #Bitcoin caused some euphoric waves among traders. Now holding over $8B worth of #crypto's top asset, we see that recent purchases and positive news relating to the firm have led to #bullish market movement. https://t.co/lxuqYuMLw6 pic.twitter.com/PwAzEc2y1b
— Santiment (@santimentfeed) December 28, 2023
Glassnode data also showed that smaller entities have set accumulation records, breaking new highs throughout 2023.
#Bitcoin Shrimps (< 1$BTC) have added 96.2k $BTC to their holdings since FTX collapsed, an all-time high balance increase.This cohort now now hold over 1.21M $BTC, equivalent to 6.3% of the circulating supply.Pro Dashboard: https://t.co/HpXwoav6wO pic.twitter.com/7U4oPAAakD
— glassnode (@glassnode) November 28, 2022
As in previous cycles, this continued accumulation is an potential indicator that the flagship crypto, and by extension the broader crypto market, is yet to reach its peak.
The Bitcoin halving and historical data highlight BTC’s potential
Bitcoin’s price trends often paint cyclical patterns. Analysts have drawn parallels between the current price trajectory and historical patterns, suggesting a potential bullish cycle similar to that witnessed in 2013 and 2017.
Similarly, Bitcoin’s historical bull runs tend to follow four-year cycles, often spurred by events like the supply reward halving, which reduces the rate at which new BTC is created and earned by miners.
The next halving event will occur in the spring of 2024, and traditionally, bull runs can start months before the event and continue until the price of Bitcoin reaches a new all-time high.
#Bitcoin targets $100k in 2024! ⛓️ Halving anticipation grows. ETF approval on the horizon. The 4-year cycle remains robust. Banks face challenges. BTC evolves as digital gold. $9 trillion Blackrock backs BTC. pic.twitter.com/Hy1eLmk13A
— B love network (@NaveenKarothiya) December 23, 2023
In fact, six-figure BTC price predictions are also becoming increasingly commonplace now that the halving is less than six months away.
While some analysts believe the upcoming halving will be the most important yet, others argue that it may play out differently this time around.
Related: Bitcoin bulls and bears prepare for end-of-year $10B BTC options expiry
Crypto market sentiment continues to rise
Lately, social media circles have witnessed a revival of positive sentiment. The Crypto Fear and Greed Index, a barometer of investor sentiment, stands at a notable score of 73, hinting at prevailing “greed” in the market.
Crypto Fear and Greed Index. Source: Alternative.me
Notably, this index has stayed above the 50 mark for the better part of 2023, which is an indication of the positive sentiment the market players have for the wider crypto market.
This pattern in market sentiment has been a precursor to price rallies in the past and could be an indicator of an upcoming bull run. Interestingly, the last time the market sentiment was at this level of greed was in November 2021, when Bitcoin reached its ATH high price of $69,000.
Technical indicators also reflect traders' bullish sentiment
The total crypto market capitalization broke above the 50-week exponential moving average (EMA) at $1.1 trillion on Oct. 23. Buyers have possibly set their target on the April 2022 range high at $2.168 trillion— an expected average 33% gain across the market. Technical traders would look to tap these key levels before anticipating a reversal.
The relative strength indicator (RSI) for the global crypto market cap has moved into the overbought territory, edging close to the 80-point resistance, reinforcing the dominance the bulls have in the market. The EMAs had also produced a bullish cross on the weekly chart. This happened on Dec. 4 when the fast-moving 50-week EMA crossed above the 100-week EMA.
Total crypto market capitalization. Source: TradingView
Furthermore, if buyers build support above the $1.75 trillion mark with positive volumes, the three-month-long uptrend could extend into 2024.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
While 2023 started with little hope of a revival in the crypto market, the events of the year have surprised most market participants with a surge in the price of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and many other altcoins.
The period of high volatility in the crypto market appears to be gathering momentum with a bull run expected in 2024.
The global crypto market cap is $1.69 trillion, up 112% over the last 12 months. The increase has been accompanied by 154% and 93% leaps in the prices of Bitcoin and Ether respectively.
The increase has been particularly striking in some altcoins such as Solana and Avalanche (AVAX) which have increased by 880% and 250% respectively over the same period.
The primary factors promoting the spike in crypto prices are rising hopes of a spot Bitcoin exchange-traded fund (ETF) being approved, the successful Shanghai upgrade for the Etheruem network, and the Bitcoin halving event which is less than 180 days away.
Increasing odds of a spot Bitcoin ETF approval
The conversation surrounding Bitcoin ETFs in the United States continues to gain momentum.
According to Bloomberg’s ETF analysis, the chances of a spot BTC ETF approval by Jan. 10 - which is the United States Securities and Exchange Commission’s final statutory deadline for a decision on some of the applications - is 90%.
Okay, we're nearing in on deadline dates for 3 spot #Bitcoin ETF applications. I want to get ahead of it because there's a pretty good chance we'll see delay orders from the SEC. Delays WOULD NOT change anything about our views & 90% odds for 19b-4 approval by Jan 10, 2024 pic.twitter.com/LE7sOlHAHM
— James Seyffart (@JSeyff) November 14, 2023
If approved, such an ETF could attract more institutional investors into the space and positively impact not only BTC but also the prices of other cryptocurrencies.
A spot Bitcoin ETF approval could be the biggest development on Wall Street in three decades, according to Bitcoin advocate Michael Saylor.
The $BTC Spot ETF may be the biggest development on Wall Street in the last 30 years. My discussion of #Bitcoin in 2024, Spot ETFs vs. $MSTR, and the emergence of bitcoin as a treasury reserve asset with @KaileyLeinz on Bloomberg @Crypto. pic.twitter.com/QtPdBOhMDr
— Michael Saylor⚡️ (@saylor) December 19, 2023
All cohorts of investors have been accumulating Bitcoin
Significant Bitcoin stakeholders are showing confidence in BTC by increasing their holdings. On-chain data from Glassnode have revealed a trend reversal, wherein long-term holders remain bullish on the prospects of a Bitcoin bull run and as a result they continue to add to their holdings.
The Bitcoin hodlers' balance is an excellent indicator for measuring market cycles. Currently, long-term holders are still accumulating, as they did in previous pre-bull markets.https://t.co/qWhryCeM0D pic.twitter.com/fREwfFJziD
— IntoTheBlock (@intotheblock) December 27, 2023
Tracking long-term holders’ balances has been a strong indicator of local price tops and bottoms. In every market cycle, there has been a clear accumulation of holders until a local price peak emerges and holders begin to sell in large volumes to realize gains.
More importantly, Bitcoin “whales,” or entities with at least 1,000 BTC, are showing signs of accumulation, which has historically preceded big rallies.
According to a report released by the blockchain intelligence platform Glassnode on Nov. 27, Bitcoin’s Accumulation Trend Score is currently 1 (chart below), indicating that on aggregate, larger whale entities, which are a big part of the network, are accumulating.
Bitcoin: Point-in-time accumulation trend score. Source: Glassnode
One of the renowned whales, business intelligence firm MicroStrategy, continues to add to its Bitcoin holdings after buying an additional 14,620 BTC at an average price of $42,110 percoin, bringing its total holdings to 189,150 Bitcoin.
#Microstrategy's latest purchase of $615M in #Bitcoin caused some euphoric waves among traders. Now holding over $8B worth of #crypto's top asset, we see that recent purchases and positive news relating to the firm have led to #bullish market movement. https://t.co/lxuqYuMLw6 pic.twitter.com/PwAzEc2y1b
— Santiment (@santimentfeed) December 28, 2023
Glassnode data also showed that smaller entities have set accumulation records, breaking new highs throughout 2023.
#Bitcoin Shrimps (< 1$BTC) have added 96.2k $BTC to their holdings since FTX collapsed, an all-time high balance increase.This cohort now now hold over 1.21M $BTC, equivalent to 6.3% of the circulating supply.Pro Dashboard: https://t.co/HpXwoav6wO pic.twitter.com/7U4oPAAakD
— glassnode (@glassnode) November 28, 2022
As in previous cycles, this continued accumulation is an potential indicator that the flagship crypto, and by extension the broader crypto market, is yet to reach its peak.
The Bitcoin halving and historical data highlight BTC’s potential
Bitcoin’s price trends often paint cyclical patterns. Analysts have drawn parallels between the current price trajectory and historical patterns, suggesting a potential bullish cycle similar to that witnessed in 2013 and 2017.
Similarly, Bitcoin’s historical bull runs tend to follow four-year cycles, often spurred by events like the supply reward halving, which reduces the rate at which new BTC is created and earned by miners.
The next halving event will occur in the spring of 2024, and traditionally, bull runs can start months before the event and continue until the price of Bitcoin reaches a new all-time high.
#Bitcoin targets $100k in 2024! ⛓️ Halving anticipation grows. ETF approval on the horizon. The 4-year cycle remains robust. Banks face challenges. BTC evolves as digital gold. $9 trillion Blackrock backs BTC. pic.twitter.com/Hy1eLmk13A
— B love network (@NaveenKarothiya) December 23, 2023
In fact, six-figure BTC price predictions are also becoming increasingly commonplace now that the halving is less than six months away.
While some analysts believe the upcoming halving will be the most important yet, others argue that it may play out differently this time around.
Related: Bitcoin bulls and bears prepare for end-of-year $10B BTC options expiry
Crypto market sentiment continues to rise
Lately, social media circles have witnessed a revival of positive sentiment. The Crypto Fear and Greed Index, a barometer of investor sentiment, stands at a notable score of 73, hinting at prevailing “greed” in the market.
Crypto Fear and Greed Index. Source: Alternative.me
Notably, this index has stayed above the 50 mark for the better part of 2023, which is an indication of the positive sentiment the market players have for the wider crypto market.
This pattern in market sentiment has been a precursor to price rallies in the past and could be an indicator of an upcoming bull run. Interestingly, the last time the market sentiment was at this level of greed was in November 2021, when Bitcoin reached its ATH high price of $69,000.
Technical indicators also reflect traders' bullish sentiment
The total crypto market capitalization broke above the 50-week exponential moving average (EMA) at $1.1 trillion on Oct. 23. Buyers have possibly set their target on the April 2022 range high at $2.168 trillion— an expected average 33% gain across the market. Technical traders would look to tap these key levels before anticipating a reversal.
The relative strength indicator (RSI) for the global crypto market cap has moved into the overbought territory, edging close to the 80-point resistance, reinforcing the dominance the bulls have in the market. The EMAs had also produced a bullish cross on the weekly chart. This happened on Dec. 4 when the fast-moving 50-week EMA crossed above the 100-week EMA.
Total crypto market capitalization. Source: TradingView
Furthermore, if buyers build support above the $1.75 trillion mark with positive volumes, the three-month-long uptrend could extend into 2024.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Sleepless AI (AI) Analysis | Tokenomics and Future Prediction
(Source: bombolo.in) Sleepless AI is a decentralised companion game platform that's doing something really cool and different. They claim their main games- HIM and HER, are a big deal as they're changing how we experience games.As per reports, in these games we're not just playing with characters on the screen; we are interacting with a virtual character. The special part is that the AI in the game makes the characters act like real people. They talk to us in a smart way, their personalities change based on how we play, and we get to have interesting conversations with them.When people are alone and looking for support, friendship, or love, they often face challenges in real-life relationships. Sleepless AI wants to help with that. They are working on creating a special kind of computer program called an AI virtual companion. This virtual friend is smart and understands the details about the person using it.Also Read: Is Fusionist (ACE) coin good for a long term investment? ACE analysis and price predictions 2024. (Source: bombolo.in) Tokenomics:The project has collected $3.7 million from three private sales of its tokens. In these sales, they sold 7.6% of all the AI tokens that will ever exist. Currently, the project is valued at $200 million.The current price of 1 unit of AI is $0.0012. In the last 24 hours, the price has changed a lot – it went up or down by 99.38%. This means the value of AI has experienced significant fluctuations recently. Right now, there are 1 billion AI tokens in existence. Out of these, 130 million tokens, which is 13% of the total, are currently available for people to buy and sell. This availability happened when the tokens were first listed for trading. So, not all the tokens are circulating; only a portion of them is actively moving in the market. This means only a small portion of all the tokens is actively available for buying and selling.Also Read: NFPrompt (NFP) Coin Analytics, Price, Marketcap and Future Predictions. (Source: bombolo.in) Future Prediction:Right now, we do not have information about the current price of Sleepless AI, so we cannot make predictions about how its price will change. However, as the project grows and becomes more popular, the price of Sleepless AI could go up. This is because more people might be interested in it, and that increased interest can lead to a higher value for Sleepless AI.Sleepless AI, introduces HIM and HER, games that redefine the gaming experience by allowing players to interact with virtual companions that evolve like real people. Addressing the challenges of real-life relationships, Sleepless AI aims to provide support through AI virtual companions. The project has raised $3.7 million in private token sales, selling 7.6% of AI tokens, and is currently valued at $200 million. With a current token price of $0.0012, the market has seen significant fluctuations. As the project gains traction, the price could potentially increase.Also Read: [New Project] ICE Network: Phone-Mining, Staking, Blockchain launch and more. (Source: bombolo.in)Disclaimer:The information provided in this article is for educational and informational purposes only. It is not intended to be, and should not be construed as, financial advice. The content is based on analysis and research, and we do not guarantee the timeliness of the information presented. Readers should conduct their own research and consult with a qualified financial advisor before making any investment decisions. The author and the blog shall not be held responsible for any financial losses or decisions made based on the content of this blog.
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