Day: May 20, 2024

Eight altcoins rally 10+% as volatility swings market

Cryptocurrencies jumped in total market cap and 24-hour trading volume on Monday, offering a price boon to several altcoins.   CoinMarketCap data showed a 55% jump in daily trading volumes coincided with a 5% increase in the total crypto market cap, placing the entire market above a $2.5 trillion valuation. The move followed last week’s demand surge of spot Bitcoin (BTC) ETFs, which triggered BTC to rally over 11% in the past week and reached a $69,900 price.  BTC weekly price chart | Source: CoinMarketCap Altcoins tend to outperform Bitcoin in percentage…

Could $4,000 Be The Next Move?

Ethereum, the second-largest cryptocurrency by market capitalization, is currently poised at a crucial juncture, with a prediction of a potential breakout. Prominent crypto analyst Jelle recently pointed out that Ethereum is nearing the end of a falling wedge pattern, a situation often interpreted as a bullish signal in technical analysis. Related Reading Technical Indicators And Market Sentiment Jelle observed a falling wedge pattern on Ethereum’s chart, which emerges as ETH recently reclaimed its 100-day Exponential Moving Average (EMA), a development that further bolsters the bullish case. According to Jelle, if…

Bitcoin Price Mirrors Historical Pattern That Led To $1,200 Surge, Will History Repeat Itself?

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Crypto analyst TechDev has provided insights into the Bitcoin (BTC) future trajectory. The analyst hinted that the flagship crypto was currently mirroring its price action in 2017 and could soon make a parabolic rise like it did back then.  History Could Repeat Itself  TechDev shared a chart on his X (formerly Twitter) platform with the caption, “The more things change, the more they stay the same.” The chart showed that Bitcoin’s current price action was mirroring that of the 2017 bull run when it recorded a price gain of 1,200%…

Bitcoin price surges past $70k as daily trading volume soars

Bitcoin (BTC) surged to $70,000 on Monday, marking its first rise to this level in over a month. At the time of writing, Bitcoin’s price has increased 5.8% in the last 24 hours and more than 10% in the last week. This increase is coming before a vote on the 21st Century (FIT21) Act and a surge in spot buying and spot BTC exchange-traded fund (ETF) purchasing. This activity has prompted the cryptocurrency community to question whether the bull market is just starting or approaching a peak. BTC faces critical…

WIF Surges 10% Amid Whale Frenzy, New ATH Soon?

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The recent market pump saw the surge of many sectors in the crypto market. Fueled by Roaring Kitty’s return, part of the memecoin sector registered remarkable gains over the past week, with Tokens like Pepe (PEPE), Popcat (POPCAT), and Dogwifhat (WIF) leading the way. Related Reading Due to its recent performance, some analysts forecast a new boost for WIF soon, while some whales load their bags with the dog-themed token. Whales Put Their Hats On Dogwifhat’s price soared after Roaring Kitty’s comeback, surging to $3.25 and prompting whales to fill…

Programmable Bitcoin Blockchain – The Key To Triggering The Next Explosive Price Surge?

Following the launch of the first US spot Bitcoin exchange-traded funds (ETFs) in January and last month’s Halving event, crypto investors have been waiting for the next major catalyst to propel Bitcoin to new heights beyond its current record of $73,700, set on March 14.  According to a recent Bloomberg report, for a growing chorus of developers, the answer may lie in improving the cryptocurrency’s core blockchain with greater programmability. The Next Chapter In Crypto?  Bitcoin has long been viewed primarily as “digital gold,” doing little beyond basic transactions. In…