Day: January 9, 2024

ETHBTC May Capitulate, Will These Factors Support Ethereum?

Despite ETHBTC trending lower in favor of Bitcoin (BTC), there is a chance that the second most valuable cryptocurrency will recover in the months ahead. Taking to X in support of Ethereum (ETH), a crypto analyst, Mckenna, said a favorable combination of protocol-related and regulatory factors may support ETH, plugging the bleed versus BTC and sparking a refreshing rally. Ethereum slips versus Bitcoin | Source: McKenna via X Ethereum Under-performing Bitcoin: Will This Continue? Looking at the ETHBTC weekly chart, it is evident that Bitcoin bulls have had the upper hand…

Bitcoin Developer Luke Dashjr Foiled in Proposal to Filter Out Ordinals Inscriptions

The developer known publicly as Luke Dashjr, who has worked on Bitcoin for over a decade, created the proposal in September. The move came just months after the appearance of Ordinals, a protocol that allowed users to “inscribe” data onto the blockchain, such as NFTs or the specifications for new tokens. The Ordinals project quickly became so popular that it caused congestion on the network. The Bitcoin-based NFTs – previously only available on other blockchains, like Ethereum – have proven valuable in their own right, with a trio of “BitcoinShrooms”…

El Salvador Bitcoin gains reach $12.6m after two years of decline

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El Salvador has observed a significant uptick in the value of its Bitcoin holdings.  For the past two years. El Salvador’s investments remained below their initial purchase value. However, the country now sees an increase in value, with unrealized gains amounting to approximately $12.6 million, according to data provided by Nayibtracker. This positive development in El Salvador’s Bitcoin investment saga was acknowledged by President Nayib Bukele, who expressed satisfaction last month, noting the nation’s venture into cryptocurrency has finally turned profitable. Source: Nayib Bukele Portfolio Tracker The initial phase of…

Crypto Analyst Predicts Crypto Market To Reach $23 Trillion, XRP Price To Cross $13

Crypto analyst Dark Defender has provided insight into how the XRP price could rise to $13. The analyst also suggested that the crypto token’s price could end up being way above that when other factors are considered.  How XRP Will Rise To $13 In a post on his X (formerly Twitter) platform, Dark Defender stated that the XRP price could hit $13 when the total crypto market cap hits $23.24 trillion within a year. He noted how the crypto market has become more valuable year-on-year as it rose from $816…

BTC surging on ETF approval expectations, Bitcoin Minetrix presale hits $8m

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The Bitcoin price has seen a notable increase over the past 24 hours, currently trading at $46.9K, up 7.29%. Meanwhile, Bitcoin Minetrix is also also seeing growth as its presale hits $8 million.  ETF developments bolster Bitcoin Excitement around a potential spot Bitcoin ETF approval has pushed prices to the highest level since March 2022, with analysts forecasting further upside. The SEC recently issued additional comments on the Bitcoin…

Bitcoin’s $48k bulwark between $55k price target

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Bitcoin may face minimal traffic on the road to $55,000 if the largest cryptocurrency can break a key resistance level.  According to technical analyst Ali Charts, Bitcoin (BTC) shows a clear path toward $60,000, although it hinges on BTC breaking through resistance around the $48,000 price range. This level was last seen in April 2022 following a U.S. banking crisis shortly before Terra’s ecosystem implosion.  On-chain data from IntoTheBlock, cited by the trader, suggests that BTC could target this resistance point after forming support of around $42,000. At this level,…

These Altcoins Are Showing Most Bullish & Bearish Divergences: Santiment

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The analytics firm Santiment has revealed the list of altcoins that are showing the greatest bullish and bearish divergences currently. RSI Reveals These Altcoins To Contain The Most Extreme Values Right Now In a new post on X, Santiment has discussed some altcoins that are showing overvalued or undervalued conditions based on the Relative Strength Index (RSI) currently. The RSI refers to a momentum metric in technical analysis that tracks the speed and magnitude of recent changes happening in the price of any given asset. This measurement can be made…

JTC Network, a New Layer One Blockchain Focused on Legal Enforcement, To List on BitMart Exchange

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January 9, 2024 – Chicago, Illinois JTC, the native token of a legal recourse Bitcoin branch, is soon to be listed on BitMart. The highly anticipated JTC listing on BitMart has been confirmed. The coin will be listed at 10 a.m. UTC on January 9, 2024. The listing announcement earlier in December brings the crypto industry one step closer to accessing the same legal remedies available in mainstream finance. The listing is a significant milestone as it means the JTC blockchain’s native crypto will be available on an exchange that…