#BTC #polygon #eth #Web3 A number of sentiments are expected to increase the valuation of crypto coins in 2024. For investors, it is worth noting that there are several coins that are predicted to bring in multiple profits.
According to Nasdaq.com, not only are interest rates expected to fall, but upcoming ETFs are also expected to be approved for several leading cryptocurrencies.
As the investment landscape improves, investors' risk appetite will return. This means that one can increase his overall profits (and also his risk-adjusted rate of return) by investing in these assets.
Bitcoin (BTC)
The highly anticipated Bitcoin (BTC-USD) halving event later this year is definitely happening. Since there will be no more Bitcoins, its maximalists will tell you that there is no need to use other networks either.
Ethereum (ETH)
Ethereum (ETH-USD) is another blue-chip cryptocurrency option. Crypto analyst predictions for ETH are also optimistic, with some suggesting it could reach $5,000.
In particular, investors should be wary of forecasters and also underestimate crypto predictions. In contrast to stock markets, which are often argued to act rationally and efficiently, crypto markets behave much differently.
Binance Coin (BNB)
Despite the controversy surrounding Binance and Binance Coin (BNB-USD), this could still be a solid altcoin to hold.
Binance has shown surprising resilience in the face of criminal lawsuits from its founders, a crackdown on crypto in China, and other challenges. Additionally, it maintains its position as the world's largest cryptocurrency exchange by trading volume by a huge margin.
Warren Buffett's Investment Company Makes Lots of Money from Bitcoin Cs
$BTC #BTC The world's biggest investor, Warren Buffett is known as one of the people who strongly opposes Bitcoin and cryptocurrencies. He even said that Bitcoin is not an asset that generates value.
Buffett himself and his parent company, Berkshire Hathaway Inc. have been renowned for their investments in stable and profitable companies. Buffett believes in investments that create value, rather than relying on investor sentiment.
"If you buy something like Bitcoin or cryptocurrency, you don't really own something that has produced anything. You just hope the next person pays more," he said, citing Yahoo Finance, Monday (19/2/2024).
This strategy has been profitable for decades, allowing Berkshire Hathaway to become one of the largest and most profitable companies in the world. Investors around the world look to Buffett and his companies for investment advice and recommendations.
However, Buffett's strong anti-crypto stance may change after reviewing the company's performance in 2023. The best-performing investment in 2023 for Berkshire Hathaway is Brazilian fintech company Nu Holdings Ltd.
The company owns Nubank, a neobank that offers credit cards and banking as well as crypto trading for users. The company offers 15 different tokens, as well as its own utility token called Nucoin.
The company, which went public in December 2021, has received support from Buffett and Berkshire during series G funding when Berkshire invested US$ 500 million in the company. Buffett then increased his holdings by another US$ 500 million, bringing the total to US$ 1 billion invested in early 2022.
OTW Crypto Rp. 1.08 billion, this is a coin that can bring in money
$BTC $ETH $BNB
Ethereum (ETH) prices also saw a rise in February, partly due to bitcoin momentum and partly due to anticipation of the Dencun network technology upgrade, scheduled for March 13. In addition, Ethereum investors hope that the US Securities and Exchange Commission will soon approve this. first place Ethereum ETF.
As March approaches, the crypto market's attention may shift from bitcoin to Ethereum as the world's second most valuable crypto network implements the Dencun upgrade, also known as Duncan or EIP-4844.
However Ethereum faces stiff competition from Solana (SOL), Avalanche (AVAX) and others. Critics of the ethereum blockchain network point to Ethereum's relatively slow transaction speeds, low throughput, and high fees for users. For example, Grayscale reported recent average Ethereum transaction fees of $2.30 were “much more expensive” than Solana.
Is an Ethereum Spot ETF Coming?
Ethereum investors could get more good news in the coming months if the SEC approves a first-class spot Ethereum ETF. At least 10 companies have applied to launch spot Ethereum ETFs, including Fidelity Investments and BlackRock (BLK). The SEC faces a May deadline to decide on the first wave of spot Ethereum ETF applications.
Ethereum is the only cryptocurrency besides bitcoin whose futures contracts are traded on the Chicago Mercantile Exchange (CME), which is regulated by the Commodity Futures Trading Commission.
Rikke Staer, CEO of Coinify, said predictions surrounding the bitcoin halving event will likely dominate crypto market headlines in March.
"Previous halvings in 2012 and 2016 were followed by significant bitcoin price increases, creating a bullish narrative around the halving in 2024," Staer said.
However, he said this halving was not necessarily good news for everyone.
Hedge fund manager Mark Yusko estimates Bitcoin will double to $150,000 or around IDR 2.38 billion this year.
"Starting from zero," the CEO and chief investment officer of Morgan Creek Capital Management told CNBC.com's "Fast Money" quoted Monday, (1/4/2024).
Yusko believes investors should have at least 1% to 3% Bitcoin in their portfolio.
"Bitcoin is king. It is the dominant token. It is a better form of gold," he said.
As of Thursday's market close, Bitcoin was up about 159% over the past year. The price had surpassed the $73,000 level in early March, but was trading around $70,700 as of Thursday evening.
"I think this could easily increase 10x in the next decade," Yusko added.
He listed a Bitcoin exchange-traded fund, which launched in January, as a key bullish driver for the cryptocurrency. Yusko predicts the Bitcoin halving will cause a supply shock resulting in another round of major tailwinds for the flagship cryptocurrency.
The halving, which cuts Bitcoin mining rewards in half to limit supply, is expected to occur at the end of April.
"Big movements occurred after the halving," said Yusko.
He added that historically, around nine months after the halving or towards the end of the year, Bitcoin prices will peak before heading for another jump.
Meanwhile, analysts at JPMorgan, a leading US financial institution, said Bitcoin (BTC) still has room for further price declines. Quoting the Avalanche Foundation, this assessment comes after Bitcoin recently reached a new high at the beginning of this month, but has since entered a downward trend.
The majority of major cryptocurrencies are languishing again, what's wrong?
$BTC
The majority of the crypto market languished again in trading Thursday (9/5/2024), amid a wave of supply worth billions of dollars that could delay crypto recovery.
According to data from CoinMarketCap at 14:50 WIB, Bitcoin was observed to have weakened 1.43% to US$ 61,395.76 per chip. Meanwhile, Ethereum also corrected 0.4% to US$ 2,989.63 per chip.
In the last week, the main cryptocurrencies are still recording gains, with Bitcoin still soaring 6.44%, Ethereum soaring 2.14%. Meanwhile, Toncoin strengthened the fastest in the last week, reaching 26.74%
"A rapid unlocking of nearly US$ 2 billion worth of tokens over the next ten weeks could bring down the altcoin market," crypto analysis firm 10x Research noted in a report last Wednesday, quoted by CoinDesk.
Large token unlocks in crypto are typically bearish events, increasing supply by distributing assets previously locked in vesting contracts to team members, organizations and early investors including venture capital firms.
More than US$ 11 billion worth of Bitcoin will be distributed to creditors of the Gemini's Earn crypto exchange program and the Mt. Gox which has not been operating for a long time.
Previously, Boston Fed President Susan Collins said the Fed's interest rate policy would likely need to remain at current levels until inflation moves 'sustainably' towards the central bank's target of 2%.
However, he stressed the need for the US economy to experience further moderation to reduce price pressures expected in the coming months.
Even so, investors still predict that cuts will occur at the September meeting. Based on CME Group's FedWatch tool, players estimate a 65% chance of the Fed cutting interest rates by at least 25 basis points (bp) in September, up from about 54% last week.
US Sanctioned, Venezuelan Oil Company Wants to Be Paid Using Crypto
$BTC
Venezuela is preparing to increase the dependence of one of its main industries on crypto payments and stablecoins.
Reporting from Bitcoin.com, Sunday (28/4/2024), according to reports, PDVSA, Venezuela's state-owned oil company will be ready to increase the amount of payments accepted in USDT crypto. This move was influenced by the reimposition of unilateral US sanctions against the country.
An international news agency stated that since last year, the company has started using the USDT crypto, a dollar-pegged stablecoin as part of the accepted payment currency.
However, the reimposition of sanctions by the US government has accelerated this process, with PDVSA switching to a contract model that now requires more than half of payments for each shipment to be made using USDT.
Additionally, PDVSA will require companies adopting this kind of contract to register with its internal database and provide proof they have the necessary cryptocurrency to complete payments, according to another source.
Crypto Market Attention Shifts from Bitcoin to Ethereum
#BTC $BTC #Ethereum $ETH There was excitement over the news of the approval of the inaugural Ethereum Spot ETF by the SEC, which sent shockwaves through the crypto market.
In the fast-paced world of cryptocurrency trading, May has proven to be a month of extreme highs and lows.
First, there was excitement over the news of the SEC's approval of the inaugural Ethereum Spot ETF, which sent shockwaves through the crypto market.
However, quickly, prices fell. Bringing back the world's largest cryptocurrency by market capitalization bitcoin to USD 67,850. This shift in sentiment has traders feeling both anxious and excited.
May started off with a sense of unease among crypto traders, as prices plummeted amid concerns stemming from Bitcoin's halving on April 19, 2024.
However, the narrative quickly changed following reports of the SEC's decision to greenlight Ethereum ETFs. This news sparked widespread excitement, causing huge price spikes across the crypto world, most notably Ethereum's surprising jump of 20% in a single day, marking one of the most incredible performances in nine years.
However, with the approval of the Ethereum ETF, the market experienced another downturn. This general “Buy the Rumour, Sell the News” pattern reflects previous events such as the Ethereum merger and the approval of a Bitcoin ETF.
According to Coinpedia, Sunday (26/5/2024), market enthusiasm often precedes an important event, followed by a decline after the event, thus prompting traders to reassess their expectations.
Looking ahead, traders or traders are still divided with some expressing optimism while others approach the market with caution. Social media platforms witnessed a surge in Buy calls, indicating high optimism among traders, especially during the minor retracement.
Polygon Vesting Contract is Officially Vacant, Will MATIC Price Become $3?
Like many other crypto projects, the Polygon network's native token, MATIC, was launched with a portion of the supply awarded to the team over a period of time. In Polygon's case, vesting lasts for five years, and since 2019, there have been periodic token unlocks. However, that unlock, which has often been a barrier for investors, has now come to an end, as the final batch has just been released to the team. Polygon Unlock Final Sign in to Team On Wednesday, February 21, the Polygon Foundation received the last portion of tokens they had from the vesting contract. In total, 273,304,816 million MATIC tokens worth $260 million were released to Foundation wallets. This opening marks the final opening that the Foundation will receive, meaning that nearly all of the available supply of MATIC is now in circulation. The latest Unclog brings the cryptocurrency's circulating supply to 9,618,318,574 from its 10,000,000,000 maximum supply. As a result, Polygon's market capitalization is just above $9.14 billion with a fully diluted valuation (FDV) of around $5 billion. The entire supply of MATIC has been unlocked, meaning there will be no more tokens in circulation. This is a major milestone for the project, whose investors have been waiting years for their tokens to finally run out. The trending polygon is under $1 | Source: MATICUSDT on Tradingview.com How Will This Affect MATIC Price? The fact that the entire supply of MATIC is now in circulation is bullish for the digital asset, especially in the long term. Inflation is a factor that tends to keep investors away and prevent them from holding onto their coins due to the fear of more tokens in circulation causing supply to exceed demand. Now that the entire supply is in circulation, this provides an opportunity for MATIC price to enter price discovery. The post Polygon Vesting Contract is Officially Vacant, Will MATIC Price Become $3? #Write2Earn