Day: June 15, 2024

Social Media Users Calling To Buy Sub-$66,000 Dip

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Data shows that traders on social media have been calling to buy during the latest Bitcoin dip below $66,000, a sign that FOMO is active in the market. Bitcoin Investors Are Displaying FOMO After The Recent Decline As the analytics firm Santiment pointed out in a new post on X, the recent drawdown in the cryptocurrency has instigated the second-largest spike of buying interest in social media users in the past two months. The indicator of interest here is the “Social Volume,” which keeps track of the amount of discussion…

Bitwise CEO: Bitcoin Should Move on From ‘Digital Gold’ Narrative as It Reaches Mainstream Adoption

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Hunter Horsley, co-founder and CEO of Bitwise, a San Francisco-based cryptocurrency asset management firm, declared that the “digital gold” narrative limits bitcoin’s reach as an investment asset. Horsely stated that, while the “digital gold” representation has been helpful for bitcoin, it has many qualities that put it over gold and it is time to “graduate” […] Original

Top US Crypto Exchange Coinbase Rolls Out Support for New Native Token of Pirate-Themed RPG Built on Ethereum

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Coinbase has launched support for the newly issued native token of a pirate-themed, role-playing game built on the blockchain. The top US crypto exchange’s customers can now trade PIRATE, a utility and staking token for the game Pirate Nation. The Ethereum (ETH)-based token first went live on Wednesday and is up nearly 90% in its first 24 hours. Coinbase added support for the asset under its “Experimental Label,” a designation the exchange established for riskier, lower liquidity tokens. The Cayman Islands-based exchange Gate.io and the Philippines-based exchange Coins.ph also rolled…

Bitcoin Could Plunge Below $50,000 If These Key Levels Break

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Renowned trader Peter Brandt recently provided insights on the Bitcoin price potential market movements, projecting a challenging period followed by a significant rally. This analysis comes as Bitcoin’s current trading behavior exhibits signs that might concern short-term investors. Related Reading Bitcoin’s Precarious Path: Potential Drop and Subsequent Rally Brandt’s analysis indicates that if Bitcoin breaks the $65,000 threshold, it could trigger a further drop to around $60,000, potentially dipping as low as $48,000. So far, Bitcoin has struggled to sustain momentum above the $70,000 mark, showing a decline of 5.6%…

Bernstein sees upside to $1m

Bernstein, an asset management firm with over $750 billion in assets, is doubling down on its Bitcoin price prediction, raising their target for 2025 from $150,000 to $200,000. The prediction for 2033 is an astounding $1 million. Analysts at the firm shared their price projection for the flagship cryptocurrency on Friday. In a note to clients, the research firm said expectations for a surge in spot Bitcoin ETFs represents a bullish catalyst. “We believe that the U.S regulated ETFs were the watershed moment for crypto that brought in structural demand…

El Salvador Views Bitcoin as a Tool to Liberate the Nation From Fiat Currencies

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Felix Ulloa, Vice-President of El Salvador, stated that the government has considered de-dollarizing the country and returning to its national currency, the colon. However, he said that it would be too costly. For Ulloa, bitcoin presents an opportunity to liberate the country from central banks and fiat currency. El Salvador’s Vice-President Felix Ulloa: Bitcoin Offers […] Original

Keith Gill Boosts Gamestop Stake, Becomes Fourth Largest Shareholder

Keith Gill, also known by his alias ‘Roaring Kitty,’ has significantly increased his investment in Gamestop, now holding nine million shares, which positions him as the fourth largest shareholder. His portfolio value has risen to around $268 million after he strategically exercised call options to acquire additional shares at $20 each. Gamestop’s share price fluctuated, […] Source CryptoX Portal

Dogecoin Sees Monumental Surge In Transactions As Whales Spend $129 Million

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Dogecoin is currently at a critical price junction that might determine its price trajectory in the short term. Although the meme coin has witnessed a significant price drop in the past seven days, recent whale activity suggests that the tide might change soon. Notably, large holders of DOGE have been taking advantage of the price drop to accumulate millions of DOGE. Per data from Santiment, an on-chain analytics platform, addresses holding between 10 million and 100 million Dogecoins have collectively accumulated more than $129 million worth of DOGE in the…