Day: August 28, 2024

Analyst Predicts Bitcoin Will Top Out By 2025, But At What Price Target?

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Bitcoin market performance and historical patterns continue to interest analysts and investors, with many of them using this to gauge what and how the asset is likely to move in the future. According to Mags, a well-known crypto analyst, Bitcoin may follow a familiar pattern observed in previous cycles, where the cryptocurrency reaches its peak several months after the halving event. Related Reading Peak Will Be 2025, But What Price Target? In a recent post on X, Mags highlighted the notable gains Bitcoin experienced in the aftermath of previous halvings,…

Bitcoin Price Drops Under $60K Again: Can It Stage a Recovery?

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Bitcoin price started a fresh decline and traded below $60,000. BTC is struggling and might continue to move down toward the $56,500 support. Bitcoin gained bearish momentum below the $62,000 support level. The price is trading below $62,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $61,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might slip further toward the $56,500 level before the bulls appear. Bitcoin Price Takes Hit Bitcoin price failed to…

Major Double-Digit Decrease Across Four Vital Metrics

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According to a recent report by data intelligence firm Messari, Cardano and its native token, ADA, experienced a notable decline in the second quarter (Q2) of 2024, reflecting the broader downturn affecting the cryptocurrency market. Key performance indicators also showed significant decreases in various metrics. Price Plunge, Market Cap Dips To $14 Billion According to the report, ADA’s price plummeted 39.7% to $0.39, while its market capitalization fell by 39.4% quarter-over-quarter (QoQ) to $14 billion.  Messari noted that this decline was influenced by a slight increase in circulating supply, which…

Litecoin Sees Sudden Exodus Of Retail Investors: Why This Can Be Bullish

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On-chain data shows Litecoin has recently seen a sudden exit of small hands, which can favor LTC’s price. Small Litecoin Investors Have Been Displaying FUD Recently In a new post on X, the on-chain analytics firm Santiment discussed the latest shift in Litecoin’s userbase. A couple of relevant indicators are relevant here: Total Amount of Holders and Supply Distribution. The first of these, the Total Amount of Holders, measures, as its name suggests, the total number of addresses on the LTC network carrying some non-zero balance. When this metric’s value…

Nasdaq Seeks SEC Approval to Launch Bitcoin Index Options

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Nasdaq has filed with the U.S. Securities and Exchange Commission (SEC) to list and trade Bitcoin Index Options. The company aims to provide new tools for institutional and retail investors to manage cryptocurrency investments. The options, pending regulatory approval, will offer European-style exercise and cash settlement features. Nasdaq Seeks to Launch Bitcoin Index Options Nasdaq […] Original

Bitcoin August Candle Hints at Major Reversal—Are Bulls About to Take Over?

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Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more…

4 Crucial Support Levels To Watch If BTC Falls

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Bitcoin is trending lower when writing, cooling off after the encouraging leg up on August 23. Although the uptrend remains, and the coin is not far away from $63,000, there is no discounting the possibility of sellers pressing on. The alignment with the dip of early August could trigger another wave of liquidation, causing panic. Bitcoin Shaky, The First Two Levels To Watch Technically, Bitcoin is within a bullish breakout formation from the bull flag established after the expansion on August 8. Additionally, from a volume analysis perspective, bulls stand…