Tag: Rally

Bitcoin advocates rally at Texas State Capitol to oppose bill cutting mining incentives

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Roughly 100 people answered the call from the crypto advocacy groups Chamber of Digital Commerce, Satoshi Action Fund, and Texas Blockchain Council to show Texas lawmakers they were against legislation targeting crypto mining firms. Gathering at the Texas Capitol in Austin on April 25, crypto enthusiasts, state lawmakers, industry leaders, and even a few members of the Capitol Police met to discuss the possible future of Bitcoin (BTC) mining in the Lone Star State should Senate Bill 1751 move through the legislature. The proposed legislation would amend sections of Texas’…

Bitcoin rally expected to surpass $50k by 2024 due to halving event

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Crypto analysts predict the upcoming bitcoin halving in April 2024 will drive the digital currency’s value past $50,000, building on its recent rebound. The largest digital asset, bitcoin, has experienced a 67% increase since December 31, following an extreme downturn in 2022. Crypto analysts predict that the upcoming bitcoin halving, reducing the number of tokens miners receive for their work, will propel the cryptocurrency past $50,000 by April 2024. The halving event, scheduled for around April…

Bitcoin BTC Price Rally Stalls Above $30K

In an email to CoinDesk, Anthony Georgiades, co-founder of Pastel Network, a decentralized blockchain for non-fungible tokens (NFT), cryptos and Web3 technology, attributed bitcoin’s plunge under $30,000 to “converging elements,” particularly the looming prospect of an inflation-focused Fed continuing its diet of hawkish interest rate hikes. But he also noted a loss of public confidence in the dollar and banking system. Source

Algorand, digitoads, and vechain can rally ahead of upcoming utilities

Cryptocurrency investments work similarly to traditional investments. Therefore, like with any other investment asset, the best time to buy a token of a new project is when the price is still low.  It ensures that early investors can make more profit when the demand picks up, driving prices higher. The lower you can buy as an investor, the higher your probability of getting high returns on your investment. For this reason, investors are often on the search to buy promising crypto projects. The best way to profit is to buy…

Bitcoin’s dominance knocked by ETH’s post-Shapella rally

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Ether (ETH) prices have topped the psychological $2,000 level following the Shapella upgrade this week and the result is a decline in Bitcoin (BTC) market dominance. According to data from the analysis site btctools.io Ether’s market share climbed to 19.8%, an over 1.1% boost in the last 24 hours while Bitcoin’s dominance slid by just under 1%. Since the beginning of the year, ETH dominance has increased by 7.6%. Bitcoin’s market dominance has fallen to 47.7% as Ethereum’s market share increased. The post-Shapella ETH rally has knocked BTC off an…

Ether’s Post-Shanghai Rally Knocks Bitcoin Dominance From 21-Month High

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The BTC dominance rate is the BTC market capitalization’s share of the total market cap of the cryptocurrency market. The metric is important to assess the relative strength of BTC, the largest cryptocurrency by market value, compared to the broader crypto market, or identify periods when altcoins outperform, also known as an altcoin season. Ether dominance, similarly shows the second largest cryptocurrency’s relative value to the crypto market. Original

Age-old bitcoin wallets coming alive amid rally to $30,000

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Bitcoin (BTC) is witnessing a reawakening of age-old wallet addresses, as its amount of supply last active in the past seven to ten years just hit a 5-year low. This metric suggests that long-term investors are engaged in profit-taking trades as they look to leverage the asset’s rally to $30,000. The amount of bitcoin tokens last active in the past seven to ten years recently hit a low of 1.18 million BTC (representing 6% of the total bitcoin supply), per data from Glassnode. The last time this metric declined to…

MicroStrategy Sets to Profit from Bitcoin Investment as BTC Price Rally

The number 1 cryptocurrency in the world has amassed over 82% gains since the beginning of the year. MicroStrategy (NASDAQ: MSTR) is a major beneficiary in the latest Bitcoin rally that pushed the crypto asset’s price to a new level. While the crypto market was in the red, many crypto-related stocks. MicroStrategy, which Bitcoin holding is worth 140,000, had a tough time before the recent rally. The company bought its first Bitcoin in August 2020, adopting the top cryptocurrency as a primary treasure reserve asset. Since the first purchase of…

XRP price rally stalls as SEC vs. Ripple ruling drags on — 25% drop ahead?

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XRP (XRP) rose 2.1% to $0.52 on April 11, extending its daily gains from $0.50 alongside a broader cryptocurrency market rally as traders pinned hopes on easing inflation data into April 12. XRP price: lackluster volumes raise risk of 25% correction XRP’s upside move brought it closer to breaking out of its prevailing bull pennant range with a price target of $0.65. XRP/USD daily candle price chart. Source: Tradingview However, lackluster volumes accompanying XRP’s gains hinted at a potential price correction in the future. That could mean a short-term pullback toward…

XRP’s Four-Week Rally Was Led by Retail Investors: Kaiko

“Looking at buy and sell transactions on the two largest Korean exchanges, Upbit and Bithumb, market sell orders overwhelmingly outpace market buys for orders over 200k XRP (~$95k),” Kaiko’s analysts said in a weekly note published Monday. “In contrast, the buy/sell ratio was much more balanced for smaller orders.” Source