Beware the crypto bull run predictions in 2024

News of crypto ETF approvals and Bitcoin halving are fueling optimism. But there is some truth to the Wall Street saying "buy the rumor, sell the news."

While I remain bullish on digital assets and the wider crypto industry on a long-term horizon, there’s reason to remain cautious going into 2024. Investors face mixed signals, and it’s possible the good news regarding Bitcoin ETF approval–which has been leading crypto headlines for some months–has already been priced in.

While markets didn’t skyrocket last year, they also didn’t crater. There has been sufficient optimism to maintain pricing stability. That optimism is largely related to two major events in 2024: the recent approval of spot Bitcoin ETF and the potential approval of Ethereum exchange-traded funds (ETFs) in the U.S., as well as the upcoming Bitcoin halving. The ETF approvals are expected to bring improved trading volumes and liquidity to crypto markets in general, and the halving will prevent BTC deflation and thus support prices.

Many pundits have attributed the Q4 pricing pump to these factors, and that’s been coupled with bullish activity in the derivatives market as well. Investors overall appear to believe that central bank rate hikes are mostly behind us and that there’s enough weight to these optimistic murmurings to look forward to a breakout bull run in 2024.

#Write2Earn #BTC #ETH #rage_against_the_crypto

#Write2Earn‏ #BTC

Bitcoin breaks $50,000 mark for first time in two years

Bitcoin hits highest level in over two years as investors anticipate broader trading approval and positive market momentum.

Bitcoin has spiked above $50,000 for the first time in more than two years as investors grow optimistic that US approval of broader trading in the unit will ramp up demand.

The advance on Tuesday saw it hit as much as $50,328, according to Bloomberg data, its highest level since late 2021.

And observers were optimistic about the outlook.

"Enthusiast buyers bring in more enthusiast buyers, pushing prices further up," Fadi Aboualfa of Copper Technologies said.

"The cryptocurrency has momentum on the back of several green weeks and has a large chance of going up further when markets see weekly movements upwards of 10 percent (as we saw last week)."

Yes, Crypto is ALL a Scam

Big Crypto firms have been buying and selling”nothing" for so long, mostly in return for different lumps of “nothing,” that many have genuinely come to believe that taking Nothing, giving it a name — and sometimes a story — combined with a little bit of trading back and forth with friends, gives “nothing” enormous value. Whether huge valuations for “nothing” tokens came from simply pumping up the market price of old school cryptocurrencies or creating complex DeFi (Decentralised Finance) structures, the belief in the value of Nothing makes is easy to lose sight of the fact of the underlying reality: it is the inflow of real money rather than “the technology,” “the community,” “the network” or “freedom” that gives crypto assets value.
#BitcoinETF💰💰💰
#Write2Earn
#CryptocurrencyWarning
#rage_against_the_crypto
#cryptoWorld

#Dogecoin2024

Dogecoin (DOGE) shines as Elon Musk’s X prepares to launch P2P payments

According to the latest post on X platform's official blog, it will launch peer-to-peer payments this year; the option was listed among other areas of the company's focus for the year 2024. As stated in the post, the payments would unlock "more user utility and opportunities for commerce." The crypto community's attention is now drawn to Dogecoin (DOGE), as Elon Musk, the owner of the X platform, has endorsed the dog-themed coin numerous times, saying that it is better suited for payments than Bitcoin (BTC). However, the details on how the peer-to-peer payments will work on X and when they will officially launch remain unknown.

Bitcoin (BTC) Dominance Is Weak - Altcoins Await

Bitcoin (BTC) could make one more try for a new local high at $50,000, or it could stay in a range around the current price. The latter scenario could potentially be very positive for altcoins.

The bitcoin dominance chart is extremely important for gauging the likelihood of a move up or down for the altcoins. Currently, the chart looks weak. A lower high, followed by a lower low in dominance leaves the percentage of total money spread across the entire ecosystem at a critical juncture.

If bitcoin dominance should drop the support at 51%, the next area of support is at just under 49%. Below this, the next major support comes in at 44.4%, and then, should altcoins really rage against $BTC , 39% would be a bottom level of support.

While the lower support levels are probably unlikely to be found any time soon, a dominance drop to 49% could present the altcoins with room to increase their prices against bitcoin, at least for a while.

#AltcoinBoom #btc #rage_against_the_crypto

The cryptocurrency fear and greed index has returned to neutral after a surge last week.

According to Alternative.me, on Jan. 15, the fear and greed index fell to October 2023 levels. The drop came days after the first spot Bitcoin (BTC) ETFs were approved in the United States.

According to the index, Bitcoin’s market sentiment score is 52 out of a possible 100, the lowest since Oct. 19 last year, when BTC traded at an average daily price of approximately $31,000.

Notably, just a few days ago, the index hit an “extreme greed” reading of 76 as the market awaited the approval of spot Bitcoin ETFs.

The index numerically shows the emotions and sentiments of crypto market participants. It collects and weights data from six key market indicators: volatility (25%), market momentum and volume (25%), activity on social networks (15%), survey data (15%), BTC dominance (10%), and trends (10%).

#BTC #Cryptoworld

The Rising Influence of VC Spectra and the Future of SOL :

*Solana (SOL) rallies 8% to $73.47, fueled by its integration with Ondo Finance for decentralized finance (DeFi). This move expands SOL’s utility, leveraging U.S. Treasury-backed tokens.

Meanwhile, VC Spectra (SPCT) garners attention with an 862.5% surge in demand, redefining the crypto sphere.

Solana’s (SOL) price surged 23% to $105.25 due to the integration of Ondo Finance’s U.S. Treasury-backed tokens, expanding utility for decentralized finance.

VC Spectra’s (SPCT) decentralized hedge fund model, raising $2.4 million in private seed sales and experiencing an 862.5% surge in public presale, highlights its unique approach and potential.

#Solana-SOL #SPCT

#ETH Blackrock CEO Larry Fink Sees A Case For Spot Ethereum ETF, But Will It Get Approval?

KEY TAKEAWAYS

Blackrock CEO Larry Fink said he "sees value" in an Ethereum ETF in a recent interview.

Blackrock, Fidelity, VanEck, and others have already filed for spot Ethereum ETFs, with some of the final deadlines for decisions from the U.S. Securities and Exchange Commission (SEC) scheduled for May.

A spot Ethereum ETF approval may be more problematic than was the case with bitcoin, as there is the potential for Ethereum's underlying crypto asset to be classified as a security.

Blackrock (BLK) CEO Larry Fink may have generated momentum for a spot Ethereum exchange-traded fund (ETF). However, the approval for such a product will likely face a big regulatory hurdle.