Month: July 2024

Bitcoin MVRV Ratio At Make-Or-Break Test: Will Support Hold?

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On-chain data shows that the Bitcoin Market Value to Realized Value (MVRV) ratio is doing a retest that has historically been significant for BTC. Bitcoin MVRV Ratio Is Retesting Its 365-Day SMA Right Now As explained by an analyst in a CryptoQuant Quicktake post, the Bitcoin MVRV ratio is retesting a level that has acted as an important psychological level in the past. The “MVRV ratio” here refers to a popular on-chain indicator that, in short, compares the value that the investors are holding (that is, the market cap) against…

Bulls Eye Recovery with Base Formation

Ethereum price seems to be forming a base above the $2,820 level. ETH could break the $3,160 resistance and rise toward the $3,320 resistance. Ethereum is consolidating losses above the $2,880 level. The price is trading above $3,000 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $2,960 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if there is a close above the $3,160 resistance. Ethereum Price Eyes More Upsides Ethereum price…

Cryptocurrency and Blockchain – The Duo Transforming Finance

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HodlX Guest Post  Submit Your Post   For the last few years, terms such as ‘cryptocurrency’ and ‘blockchain’ have become popular in the sphere of finance and IT (information technology). But what are these two, and how are they connected? Here we will explain these ideas further and establish how they are connected. Understanding cryptocurrency Cryptocurrency can be defined as a digital or virtual currency that has attributes of money and makes use of cryptography to secure the transactions. Cryptocurrencies are different from the government-backed currencies – known as fiat currencies…

Legendary Trader Peter Brandt Says Bitcoin Could Crash To $44,000, Here’s Why

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Veteran trader Peter Brandt has raised the possibility of Bitcoin dropping to as low as $44,000. He predicted this could happen based on a technical indicator that paints a bearish outlook for the flagship crypto.  Why Bitcoin Could Drop To $44,000 Brandt predicted in an X (formerly Twitter) post that Bitcoin could drop to as low as $44,000 if the flagship crypto has completed a double top. A double top is a bearish pattern that indicates that BTC could witness a severe reversal to the downside, having hit two consecutive…

Can Bulls Overcome Resistance for a Recovery?

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Bitcoin price is consolidating losses above the $55,000 level. BTC must settle above $58,500 and then $60,000 to start a recovery wave. Bitcoin dipped again and retested the $54,500 support zone. The price is trading below $58,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $57,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might struggle to start a fresh increase above the $58,500 resistance zone. Bitcoin Price Faces Hurdles Bitcoin price attempted a…

Expert Reveals 7 Top Solana Meme Coins To Watch Amid ETF Approval Hopes

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Solana-based meme coins have emerged as notable contenders in the crypto market, outperforming the largest cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) in recent months.  With coins like Bonk Inu (BONK) soaring nearly 7,000% year-to-date, the potential approval of Solana ETFs filed by asset managers VanEck and 21Shares in the United States, is seen as a potential catalyst for these tokens, according to market expert Leshka.  In a recent analysis, Leshka explained that Solana memes have become the dominant narrative of this market cycle, raising expectations for their potential…

France and Hong Kong Collaborate to Advance Global Tokenization Market With CBDC Initiatives

The Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) have announced a collaboration on wholesale central bank digital currency (wCBDC). This partnership includes the HKMA’s involvement in Wave 2 of the European Central Bank’s Eurosystem exploratory work. The institutions signed a Memorandum of Understanding (MoU) to innovate in wCBDC and tokenization markets, […] Source CryptoX Portal

Notcoin Rises 80% Over The Weekend, NOT Explosion Coming?

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Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities…

Will Bitcoin Bounce Back? Traders Place Their Bets on a Rocky Q4, Data Shows

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So far, Bitcoin has seen significant volatility in the last trading session, hinting at frail investor sentiment. Earlier today, the asset soared to as high as $57,300. However, the asset now appears to have run out of steam after reaching this mark as it trades at $55,966, down by 1.6%. This surge in volatility is a sign that the market has become more fearful as traders watch several key technical levels. However, the latest data suggests a shift in trader patterns as more defensive strategies are sought. Analysts from the…