Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Bitcoin
Strongest altcoins to be in if Bitcoin powers upwards ($ETH, $SOL, and $BNB)
Bitcoin is at a critical juncture. The FOMC meeting is coming up this week, and what is said there by the Fed could have a big impact on markets. If the news is good on Wednesday, Bitcoin could fly. The altcoins primed to surge with it are $ETH, $SOL, and $BNB. When $BTC was rejected from the top of its bull flag for the fourth time in succession, perhaps some fear and doubt crept into the minds of altcoin holders.…
1 year ago
El Salvador and Botev Plovdiv Partner in Pioneering Bitcoin Financial Venture
Tokenized shares available through Bitfinex Securities aim to democratize ownership, allowing global fans to invest in the football club. Beyond financing, Botev Plovdiv adopts Bitcoin for ticket and merchandise sales, integrating cryptocurrency throughout the club’s operations. El Salvador has become the new financial hub for a European project involving Bitcoin, as the oldest football club in Bulgaria, Botev Plovdiv, announces plans to issue its tokenized shares from the Central American nation. Botev Plovdiv’s Financial Shift to Tokenized Shares George Manolov,…
1 year ago
Bitcoin vs Gold: Anthony Scaramucci Says ‘Digital Gold’ Can Become $500,000 Asset Despite Only Five Percent Adoption in Us
The post Bitcoin vs Gold: Anthony Scaramucci Says ‘Digital Gold’ Can Become $500,000 Asset Despite Only Five Percent Adoption in Us appeared first on Coinpedia Fintech News In a recent statement, Anthony Scaramucci, Founder of Skybridge Capital, suggested that if Bitcoin continues to scale and adopt at the same pace as the past decade, its value could reach great heights. He projected that Bitcoin could become a three, four, or even $500,000 asset. To put this into perspective, he compared…
1 year ago
Bitcoin Price Resurgence: Ready for Another Upswing?
Bitcoin price stayed above the $68,500 support zone. BTC is now consolidating and might aim for a fresh increase above the $70,150 resistance. Bitcoin found support near $68,500 and started a decent recovery wave. The price is trading below $70,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $69,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could decline again if there is no…
1 year ago
Bitcoin Wyckoff Pattern Points to Potential $85K Price Target, But a Crucial Weekly Close is Needed
The Bitcoin Wyckoff pattern suggests that Bitcoin could rally to an all-time high of $85,000 but must first close above $71,300 to confirm a breakout. Increased inflows into U.S. Bitcoin ETFs have indicated renewed investor interest with new demand set to drive a price rally. Bitcoin (BTC) looks poised to reach a new all-time high if the crypto leader can close the week above a key level. According to a key technical chart pattern “Wyckoff,” Bitcoin could rally to a…
1 year ago
Hedge Funds Bet Against Bitcoin with Record Short Positions on CME Futures
Hedge funds are ramping up their short positions against Bitcoin on the Chicago Mercantile Exchange (CME), even as spot Bitcoin exchange-traded funds (ETFs) enjoy a 19-day streak of inflows. According to Zerohedge, the Commodities Futures Trading Commission (CFTC) Commitments of Traders (COT) report revealed a significant increase and a new record high in Bitcoin hedge fund net shorts. Are Hedge Funds Bearish on Bitcoin? The data shows hedge funds increased their net short positions in CME standard Bitcoin futures contracts.…
1 year ago
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BitcoinSecure and Private: Reusable Payment Codes for Bitcoin Transactions
Bitcoin transactions often sacrifice privacy for convenience by reusing addresses, but new methods aim to change that. BIP-47 payment codes and Silent Payments offer cryptographic solutions to enhance privacy without compromising usability. Bitcoin users have long faced a delicate balancing act between maintaining privacy and ensuring usability in their transactions. Recent innovations, such as payment codes, have revolutionized the way users share Bitcoin addresses, enhancing both security and convenience. Traditionally, sending Bitcoin requires an initial exchange of addresses between parties,…
1 year ago
Standard Chartered Predicts Bitcoin Will Reach $150,000 by Year’s End if Donald Trump Becomes New President BTC Price chart
Standard Chartered’s Geoff Kendrick foresees a bullish trajectory for Bitcoin, with expectations of reaching $100,000 and potentially $150,000 by the end of the year if Trump secures victory. While the Biden administration has displayed some openness to digital assets, Trump’s stance is perceived as more favorable for crypto. Former US President Donald Trump has backed his commitment to the crypto community if he comes back to power later this year in 2024. Banking giant Standard Chartered believes that Trump’s reappointment…
1 year ago
Bitcoin Cash Stands Strong in Bearish Market With 5% Gains, Investors Pour Into New DeFi Project With 10x Potential
The post Bitcoin Cash Stands Strong in Bearish Market With 5% Gains, Investors Pour Into New DeFi Project With 10x Potential appeared first on Coinpedia Fintech News Bitcoin Cash has been showing good bullish momentum for quite some time. While the whole market is in correction mode, it has maintained its strength. BCH Price has made an inverse head-and-shoulder pattern, the breakout of which can start the rally to new highs. Amid the market correction, DTX Exchange, a new decentralized…
1 year ago