Day: February 20, 2024

Analyst backs Worldcoin price to hit $26 in 2024, new altcoin poised for more gains

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Worldcoin (WLD) has seen impressive growth recently, with prices surging 170% in the past week alone. According to one prominent analyst, WLD could continue rallying and reach $26 by the end of the year if conditions remain bullish. While Worldcoin continues rising, there’s another altcoin, Bitcoin Minetrix (BTCMTX), that some experts think would spike at the end of its presale. Worldcoin price surging Worldcoin’s recent run has made it…

Dogecoin Begins Massive Recovery Trend, But Can These Factors Drive A Rally To $0.2?

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The Dogecoin price action in the past few days is showing signs of the crypto embarking on a bullish recovery. Particularly, DOGE has seen a strong uptick in trading volume in the last few days, fueled by an increase in activity from whale addresses.  At the time of writing, DOGE spiked by over 6% in the past 24 hours to break over $0.09 for a brief moment. This spike in DOGE came despite the price of Bitcoin showcasing a weakening of bullish momentum at $52,000 and most cryptocurrencies sparking corrections,…

Pro-Crypto Lawyer John Deaton Enters Senate Race to Challenge Elizabeth Warren

Cryptocurrency advocate John Deaton has formally announced his candidacy for the Senate in Massachusetts, setting his sights on unseating the current Democratic Senator Elizabeth Warren from her position. “I’m excited for the opportunity to fight for change, and for the people of Massachusetts in the United States Senate,” Deaton wrote on Tuesday. Deaton vs. Warren: […] Source CryptoX Portal

VanEck’s Bitcoin ETF sees 1,000% daily volume spike in fee cut anticipation

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VanEck’s spot Bitcoin ETF jumped 14 times its daily average volume a day before the firm plans to implement a fee cut, reducing entry cost from 0.25% to 0.2%. According to Bloomberg’s Eric Balchunas, the VanEck Bitcoin Trust ETF (HODL) had over $258 million in trading volume on Feb. 20 from 32,000 individual traders. Balchunas noted that VanEck’s volume and traders were much higher than the average numbers of the firm’s new exchange-traded fund.  I’ve never seen a grassroots trading explosion come out of nowhere like this. Eric Balchunas on…

Bitcoin Whales Steer Clear Of Significant Short Positions, Show Confidence In Price Surge

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Bitcoin traders are exhibiting cautious optimism as they refrain from “substantial short positions,” expecting continued price surges, according to analysts from Bitfinex this week’s Alpha report. Despite Bitcoin’s notable surge that brought the asset to trade as high as above $52,000 for the first time since 2021, analysts note a decrease in the short-squeeze ratio compared to previous years. The reason behind this declining short-squeeze ratio is revealed in the report. BTC Short Squeeze Ratio vs price. | Source: Bitfinex Alpha report Whales Shun Short Positions Amid Bullish Sentiment Analysts…

Avalanche (AVAX) Price Underperforms Ahead of $365M Supply Event

AVAX dipped more than 3% over the past week, while most cryptocurrencies – 148 of the 173 constituents of the broad-market CoinDesk Market Index (CMI) – gained in price. The CoinDesk20 Index (CD20), which tracks the performance of the largest and most liquid crypto assets, advanced 6% during the same period. At press time, AVAX changed hands at $38, some 23% lower than its December high. Source

The Crypto Vibe Shift

Increasingly governments, including in the U.S., appear to want to work with the industry to develop policies that protect consumers without hampering the development of crypto. The European Union passed the significant MiCA ruleset while the U.K., Hong Kong, Nigeria, and others are all vying to become crypto “hubs.” Source

CME Group to Launch Micro Euro-Denominated Bitcoin and Ether Futures Amid Rising Demand

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On Tuesday, CME Group unveiled plans to introduce micro euro-denominated bitcoin and ether futures, set to debut on March 18, contingent on regulatory green lights. These euro-based offerings will mirror their U.S. dollar-based equivalents, each representing one-tenth of the respective cryptocurrency’s value. CME Group Announces Micro Euro-Denominated Bitcoin and Ether Futures Launch Following the 2021 […] Original