“Every time ETH gas fees drop to rock bottom has often signaled a price bottom in the mid-term,” Ryan Lee, chief analyst at Bitget Research, in Friday note to CoinDesk. “ETH prices tend to strongly rebound after this cycle, and when this moment coincides with an interest rate cut cycle, the market’s wealth effect is full of possibilities.” Source
As the broader crypto market consolidates, one industry analyst has identified a select group of altcoins that could see exponential gains during the anticipated “super-cycle” expected in the latter half of 2024. In a detailed social media post, the analyst, known as OxNobler, delves into the cyclical nature of the crypto market and highlights the factors driving the impending uptrend phase. Crypto ‘Supercycle’ Imminent? According to OxNobler, the crypto market consistently follows a four-phase cycle: Accumulation, Markup (Uptrend), Distribution, and Markdown (Downtrend). The analyst argues that understanding these distinct phases is…
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…
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
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…
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…
Recently, crypto analysts have been attracted to Bitcoin Cash (BCH); Alan Santana provided an extremely intricate analysis concerning the coin’s future. He advises investors though to hold off on accumulating BCH until the market shows clearer signs of stability. Related Reading The cautious outlook for Santana was based on the notion that, from his belief, the correction in the market wasn’t over yet. He indicated that BCH still might be due for a little room down to the bottom, likely to precede the bull market expected in 2025. Strategic Accumulation…
The Bitcoin price continues to trade sideways, as uncertainties on the macro side have made investors undecided about their next move. Crypto analyst Michael van de Poppe has provided insights into Bitcoin’s price trajectory and has raised the possibility of the crypto dropping to as low as $48,000. What Could Make Bitcoin Drop To As Low As $48,000 Van de Poppe mentioned in an X (formerly Twitter) post that Bitcoin could break below $56,000 and drop to a price target of $48,000 if the Consumer Price Index (CPI) inflation data…
Kevin Bambrough, a financial expert with over a decade of experience in commodities markets, has predicted that silver could reach $200 per ounce in the next 10 to 15 years, riding the wave of increased demand for a new EV battery technology developed by Samsung. According to Bambrough, the new batteries may require 1 kg […] Source CryptoX Portal
Bitcoin price has moved sideways this week even as American stocks continued their post-Black Monday crash rally. Bitcoin (BTC), the biggest cryptocurrency in the industry, has been stuck in a narrow range between $58,000 and $60,000 this week. Bitcoin has had positive headlines In contrast, the Dow Jones index has risen for three consecutive days and is just 2.5% below its all-time high. The Nasdaq 100 and S&P 500 indices have also recovered, while the US dollar index has retreated. Bitcoin has remained stagnant even as more large American companies…