Month: August 2024

Will Bitcoin Trade Above $70K By September? Analysts Weigh in

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Bitcoin’s (BTC) price continues fluctuating within the $58,000 to $61,000 price range following its recovery from the ‘Black Monday’ crash. However, analysts remain unsure about the next step for the flagship cryptocurrency. Some market watchers suggest the key levels BTC must break to continue the bullish run, while others highlight signals that could indicate a timeline for the next leg up. Related Reading Analysts Unsure About BTC’s Next Move On August 5, the crypto market experienced a massive crash that shredded over 20% of most cryptocurrencies’ gains. Bitcoin led the…

Analyst Warns: Bitcoin Nears Dangerous Territory – $40,000 On The Horizon?

Bitcoin is trading for $59,545, a slight increase of 0.5% in the past 24 hours. Although little, this surge in its price is quite noteworthy as it comes against the backdrop of Bitcoin’s price plunging as low as $57,812 earlier today. Regardless of this modest recovery, a recent analysis by a CryptoQuant author on the CryptoQuant QuickTake platform has revealed that Bitcoin might now be approaching a precarious position. Bears At The Gates? Analyzing BTC’s Vulnerable Stance According to the CryptoQuant analyst Grizzly, Bitcoin’s Net Unrealized Profit/Loss (NUPL) metric—a tool…

While Useful, Bitcoin Will Not Replace the U.S. Dollar, Russian Analyst Warns

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Viktor Pershikov, a Russian expert in financial markets, has explored the opportunities that crypto and bitcoin will bring to Russia following the laws approved recently by President Putin. Pershikov stated that, while some cryptocurrencies present interesting opportunities as payment tools, ultimately, no cryptocurrency can currently substitute for the U.S. dollar. Russian Analyst States Bitcoin Won’t […] Original

Key Catalysts Poised To Drive The Crypto’s Comeback

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In a recent report, market researcher and analyst DeFi Ignas has provided a detailed analysis of the current bearish and bullish cases for the leading altcoin, Ethereum (ETH), offering valuable insights into the cryptocurrency’s prospects. Factors Behind The Ethereum Underperformance Ethereum has struggled to keep pace with its crypto peers over the past two years, declining 47% against Bitcoin (BTC) and underperforming Solana (SOL) by 6.8x since the market lows of early 2023.  According to Ignas, the reasons behind this underperformance are open to debate, but a few key factors…

Flare sees gains as transactions rise, falling wedge pattern forms

Flare token price rose for two consecutive days and was the best-performing cryptocurrency on Aug. 15. Flare (FLR) rose by over 7% on Thursday, Aug. 15, reaching a high of $0.016, up by over 21% from its lowest level this month. However, like other altcoins, it remains in a bear market after falling by over 70% from its highest point this year. It is also hovering near its lowest level since December last year. Flare’s rebound occureding durin an otherwise boring day for cryptocurrencies. Bitcoin (BTC) remained below $60,000, even…

Analyst Says God Candle Will Send Price To $57

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Crypto analyst Amonyx has laid an ultra bullish price prediction for the XRP price, predicting that the crypto token could reach double digits at some point. This comes amid XRP’s continued underperformance despite the conclusion of the case between Ripple and the US Securities and Exchange Commission (SEC).  Massive God Candle To Send XRP Price To $57 Crypto analyst Amonyx mentioned in an X (formerly Twitter) post that a massive God candle was loading, which would send XRP’s price to $57. Based on the chart that the analyst shared, the…

Crucial Bullish Signal For Bitcoin Flashes For First Time Since 2023, Analyst Forecasts Major Rally

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Bitcoin (BTC) is showing strong signs of an imminent price surge, according to top market analysts, who point to a confluence of bullish factors in the cryptocurrency’s favor. However, after hitting a 6-month low of $49,000 on August 5, BTC has hovered between $58,000 and $60,500 for the past week. However, the dip below all-time highs of $73,7000 reached in March of this year may be short-lived, as evidence mounts that the market’s largest digital asset is poised for a major breakout. 2-3X Bitcoin Rally Ahead?  Technical analyst Jamie Coutts…

Goldman Sachs Discloses $418 Million Bitcoin ETF Holdings

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Global investment bank Goldman Sachs has reported holdings of $418 million in spot bitcoin exchange-traded funds (ETFs) in the second quarter. Its biggest position is a $238 million stake in Blackrock’s Ishares Bitcoin Trust (IBIT). In contrast, Morgan Stanley reduced its bitcoin ETF holdings. Meanwhile, hedge funds are taking a more aggressive stance in the […] Original