Tag: Analysis

Price analysis 7/5: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC, MATIC, DOT

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Bullish crypto traders are struggling to clear the overhead barrier in Bitcoin and select altcoins, indicating that bears have not given up yet. Bitcoin (BTC) continues to trade near the $31,000 level, making it an important resistance to watch out for in the short term. Some analysts believe the current consolidation could result in an upside breakout in Bitcoin. The institutional investors also seem to be positive about the prospects of a further rally in Bitcoin. CoinShares’ head of research James Butterfill said in a recent report that 98% of…

Bitcoin analysis agrees BTC price may stall at $35K

Bitcoin (BTC) bulls face a tough task to bring BTC price action past $35,000, fresh analysis predicts. In its latest market update on July 5, trading firm QCP Capital flagged the mid-$30,000 range as a potential cooling-off point for the Bitcoin bull market. Bitcoin homes in on post-FTX rally peak With BTC price stagnating around $30,000, concerns are already mounting that the majority of its gains have already materialized. The area between $35,000 and $40,000 is now particularly popular among market participants seeking to catch a local top, and QCP…

Price analysis 7/3: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC

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The bulls are trying to nudge Bitcoin above the critical resistance of $31,000, which may start a broad-based crypto rally. The United States equity markets have witnessed a solid year so far. The Nasdaq Composite has soared 31.7%, its best first-half performance since 1983. Similarly, the S&P 500 Index’s (SPX) 15.9% gain is its best first half since 2019. This suggests that risky assets remain in demand. In the cryptocurrency markets, Bitcoin (BTC) has led the recovery from the front, rising 20% in Q2 2023. An encouraging sign is that…

Price analysis 7/1: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC, MATIC, DOT

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The rejection of ETF applications by the SEC caused a knee-jerk reaction but the shallow fall in Bitcoin and several altcoins suggests that lower levels are attracting buyers. Bitcoin (BTC) witnessed a volatile trading session on the last day of the quarter. The bulls were trying to maintain Bitcoin’s price above $31,000 but they received a jolt on a Wall Street Journal report which stated that the United States Securities and Exchange Commission (SEC) had returned applications for the Bitcoin spot-price exchange-traded fund (ETF).  Although there was a knee-jerk reaction…

Price analysis 6/28: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC, MATIC, DOT

Bitcoin and several altcoins are stuck in a tight range, indicating that a breakout is brewing. A large part of the recent leg of Bitcoin’s (BTC) rally started after BlackRock filed to list a spot Bitcoin exchange-traded fund (ETF) on June 15. Several applications by other firms have been rejected by the United States Securities and Exchange Commission in the past. However, BlackRock’s filing has a 50% possibility of getting approved, said Bloomberg senior ETF analyst Eric Balchunas.  Another bullish catalyst for the cryptocurrency markets could be a filing by…

Price analysis 6/26: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC

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An onslaught of Bitcoin ETF applications could help BTC price find long-lasting support at the $30,000 level. The S&P 500 Index (SPX) snapped a five-week winning streak last week but it is still on track to close the first half of the year with stellar gains of nearly 13%. The tech-heavy Nasdaq Composite has done much better as it is up about 29%. Both these indices have been overtaken by Bitcoin (BTC) which has risen nearly 83% year-to-date. Bitcoin’s bullish price action and the recent rush by several firms to…

Price analysis 6/23: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC, LTC, DOT

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Bitcoin price looks ready to turn $31,000 to support, and many altcoins are following with double-digit gains. The rush to apply for a spot Bitcoin (BTC) exchange-traded fund (ETF) rejuvenated the bulls but this news is likely to boost the price only to a certain distance. As the price moves up, the risks of a crash increase if none of the ETF applications are approved. Trading firm QCP Capital is not convinced that a spot ETF will see the light of the day in the near term. Another point of…

Forensic analysis can benefit from tokenization: World Token Summit panel

At the recent World Token Summit 2023 event held in Dubai, a panel discussed how the adoption of tokenization can be scaled further through various tools like address tracking and forensics analysis. At the event, Cryptox spoke with Jeremy Firster, the global head of partnerships at Cardano Foundation, Meng Chan Shu, the head of business development at the Ras Al Khaimah Digital Assets Oasis (RAK DAO); and Ellis Wang, who works with the executive and advisory team at The Private Office of Sheikh Saeed bin Ahmed Al Maktoum. The group…

‘Bitcoin only’ buy-and-hold investment strategy outperforms altcoins over the long term — Analysis shows

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Altcoins offer diverse, innovative features, promising technological advancements, and potentially lucrative investment opportunities. Many-a-time specific altcoins post handsome gains that surpass Bitcoin (BTC), popularly known as altcoin season. However, K33 Research analysis shows over the long-term, ‘Bitcoin only’ has been a better investment strategy than an altcoin portfolio. Altcoin portfolio underperformed Bitcoin over the long run Bitcoin has had three consecutive bull and bear market cycles, starting in 2013 with the latest one coming in 2021. In each cycle, Bitcoin’s price rose parabolically in a very short span, usually a…

Price analysis 6/21: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC, LTC, DOT

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Bitcoin price surged to $31,000 as a handful of BTC spot ETF applications and Fed chair Jerome Powell’s views on stablecoins appear to have improved crypto investors’ view of the market. BlackRock’s application for a spot Bitcoin (BTC) exchange-traded fund (ETF) has encouraged other financial firms to follow suit. First, it was the New York-based asset management fund WisdomTree which made a new filing on June 21 for a Bitcoin ETF. This was then followed by investment manager Invesco, which reactivated its application for a spot ETF. These announcements boosted…