Day: February 8, 2024

BTC To Reach $1 Million Amid Banking Turmoil

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Arthur Hayes, co-founder of BitMEX and a well-known figure in the crypto community, has made headlines with a bold prediction for Bitcoin (BTC). Hayes, recognized for his unique views of the crypto space, shared his thoughts on Bitcoin’s potential trajectory in light of the current financial challenges the New York Community Bank (NYCB) faces. NYCB, grappling with significant financial troubles, was reported by Bloomberg as having its credit rating downgraded to “junk” by Moody’s. Hayes interprets the bank’s struggle and the broader banking sector’s difficulties as indicators of systemic issues…

What It Means For Price Recovery

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Data shows the Bitcoin Coinbase Premium Gap is currently negative. Here’s what this could mean for the asset’s recent attempt at recovery. Bitcoin Coinbase Premium Gap Has Been Deep Red Recently An analyst in a CryptoQuant Quicktake post pointed out that the Coinbase Premium Gap has been negative recently. The “Coinbase Premium Gap” here refers to an indicator that tracks the difference between the Bitcoin prices listed on cryptocurrency exchanges Coinbase (USD pair) and Binance (USDT pair). When the value of this metric is positive, it means that the price…

Bitcoin Price Surges Past Resistance, Is This The Start of Fresh Uptrend?

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Bitcoin price is gaining pace above the $44,000 resistance. BTC could rise further if it clears the $44,800 resistance zone in the near term. Bitcoin price was able to surpass the $43,400 and $43,500 resistance levels. The price is trading above $44,000 and the 100 hourly Simple moving average. There was a break above a major rising channel with resistance at $43,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move up if it clears the $44,800 resistance zone. Bitcoin Price…

Kaspa (KAS) To Hit $3 In Explosive Bull Run, Expert Predicts 2650% Surge

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In the dynamic landscape of the cryptocurrency market, Kaspa (KAS) has emerged as a strong contender in the altcoin race, demonstrating notable growth and breaking through the $0.1109 barrier in the past 24 hours, representing a 10.5% increase in this time frame. Interestingly, the bullish momentum for KAS might be far from over as potential catalysts loom on the horizon. These catalysts could propel the token to new all-time highs, surpassing its previous peak of $0.1527. KAS Targets $2-$3 In Next Bull Run In a recent post on X (formerly…

2023 Crypto investors realized below $1k on average

An average crypto investor experienced a gain of $887.60 in 2023, as reported by CoinLedger, a leading crypto tax software platform. The higher profits contrast sharply from 2022, a year of significant losses exceeding $7,000 per investor, following the collapse of key crypto firms and a pervasive bear market. “It’s clear that the cryptocurrency market is growing once again. After the collapse of FTX, the cryptocurrency ecosystem saw a freefall in asset prices,” said CoinLedger CEO David Kemmerer in a press release. “This latest rebound highlights the growth of the…

Bitcoin Miner Reserves Drop To June 2021 Levels, What This Means For Price

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Bitcoin miner reserves can often be a tell for where the market could be headed next due to their large holdings. These reserves going up or down can pinpoint how miners are looking at the market, and a drop in their reserves can be bad for the BTC price. Miners Reserves Drop By 14,000 BTC Bitcoin miners, who are responsible for confirming transactions on the blockchain and keeping the network safe, seem to be turning toward selling rather than accumulating. According to a CryptoQuant report, these miner reserves have seen…