Tag: Rally

Crypto AI Tokens SingularityNET (AGIX) and Fetch.ai (FET) Rally After Musk Unveils New Company

Artificial intelligence (AI) related crypto tokens posted gains after Tesla and SpaceX CEO Elon Musk on Wednesday unveiled a new AI company called xAI as an alternative to popular chatbot ChatGPT. SingularityNET (AGIX) rose 11% over the past 24-hours, while Fetch.ai (FET) climbed about 7% over the same time period. The team will be led by Musk and includes members that have previously worked at DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto, according to the company website. The newly formed company will be a separate…

Bitcoin’s pre-halving rally may start soon — Here’s why

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In the latest episode of The Market Report, Cointelegraph analyst and writer Marcel Pechman discusses Standard Chartered bank’s $120,000 Bitcoin price expectation based on the halving impact. According to the report, increased miner profitability due to a pre-halving rally would “reduce the net BTC supply.” Pechman, on the other hand, doesn’t acknowledge the thesis, given that the mining difficulty will continue to increase and the news confirming Riot Platform’s investment in new ASIC equipment. In fact, the mining difficulty increased by 73% in the last 12 months, while the Bitcoin (BTC)…

Microstrategy Stock Soars 7% After Berenberg Says Bitcoin Halving May Trigger Rally

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The share price of software firm Microstrategy increased by 7% following a recent projection by Berenberg.  The investment bank believes that next year’s Bitcoin halving could trigger a rally in Microstategy’s stock (MSTR).  Berenburg’s current MSTR price target is $430, which would be an 18-month high. Hamburg-based Berenberg Capital Markets recently circulated a research note which presented the upcoming Bitcoin halving as a potential trigger event for the share price of the United States-based software firm Microstrategy. Berenberg believes that the fourth Bitcoin halving could lead to a considerable rally…

Bitcoin (BTC) Rally Puts Focus on Futures Market Quirk That Underscores Need for Spot ETFs

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The cryptocurrency topped $31,000 late last month, reaching the highest in a year. With the rally, the spread between prices for the Chicago-Mercantile Exchange (CME)-listed July futures contract and the now-expired (the-then front-month) June futures contract exploded to nearly $500, the highest gap since the bull market days of late 2021, according to data from charting platform TradingView. Original

BTC Price Could Rally to $125K by End-2024: Matrixport

“On June 22, 2023, bitcoin made a new one-year high, marking the first time in a year. This signal has historically indicated the end of bear markets and the start of new crypto bull markets,” Markus Thielen, head of research and strategy at Matrixport, said in a report shared with CoinDesk. Source

Can Bitcoin repeat a 2017-like rally as dollar correlation reverses?

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There is a common belief that when the U.S. dollar declines relative to other main global currencies, as measured by the Dollar Strength Index (DXY), the impact on Bitcoin (BTC) is positive, and vice versa. For instance, the DXY index dropped from 103.0 on Jan. 2017 to a 92.6 low on Aug. 2017, while Bitcoin rallied from $1,000 to $4,930 in the same period. But is there enough evidence to justify a bull run similar to 2016–17, as some analysts are arguing? But is there enough evidence to justify a…

PEPE clinches 2-month high amid recent rally

Pepe (PEPE) recently clinched a 2-month high following an impressive momentum that picked up two days ago. Amid this bullish run, market participants have leveraged the asset’s recent rally to rake in profits. As the buzz surrounding meme coins declined from late May to early June, PEPE dropped below the $0.000001 psychological support level on June 10 following a discouraging 17.5% intraday loss. The broader market-wide drop that saw BTC plummet below $25,000 contributed to this decline in PEPE’s price. After the drop, PEPE consolidated below $0.000001 until June 17,…